A Lead Long Game is Worth an Extra 28K Per Month
This week, one of our MLO’s received a text message on their personal VOIP line. It was like many other texts he receives each week, “Hi, can you talk? We have a few loan questions.” The reason this particular text warrants a blog post is that the lead was 18 months old and resulted in 28K in income.
The Whole Story
We work with Realtors to nurture and convert stale and new leads. This particular lead came from a list of 80 that were considered DEAD by our Realtor Partner. We did our thing, email, call text to the entire list and created two closed transactions in 30 days. This particular client expressed interest but ghosted us. We could have moved on, but that isn’t fun, (or profitable).
Over the ensuing 18 months, this client received both our automated hand high touch drips. Pillar 4 of our 5 Pillars of Digitization is lead management.
Back to the Client. They thanked us for the follow-up and said they had talked to a different Realtor but weren’t committed. We redirected them back to the original referring Realtor and they closed on an 800K purchase. Over 28K in income to the MLO and Realtor with zero lead cost to the MLO. The best part is that our relationship with the Realtor had faded a bit and this was the hook that got her back and we have received 3 organic leads in the following week.
How Do You Run A Long Game?
25% of our closings come from the long game, so this isn’t an isolated incident. We practice No Lead Left Behind with religious fervor. There are a few things you need to run a proper long game lead management system and not break the bank.
Patience: Unless someone opts out of your communications, keep reaching out. Our average consultation is set after 5 contacts.
A System: I don’t care what CRM you use, every lead needs to be in one place and you need to track the next step. Side note: Many of the automagic systems that drip relentlessly lack authenticity and turn people off. We opt for high tech, high touch human-driven processes.
Clarity: We use two fields to manage our entire process: 1) LEAD STAGE: where they are in the decision cycle, 2) FOCUS: how interested or likely are they to make a decision. With these two fields, you can find the most important leads in a moments notice and make contact.
Get Help: When you are busy, the last thing you have time for is leaving a voicemail for a 12-month-old lead. Time and time again busy kills the long game. Technology is so good, you can hire someone to make calls on your behalf, email on your behalf all from the comfort of anywhere.
We built Nextview Group to do this work for you. We help MLO’s and Realtors compete in an increasingly digitized market. Local experts that have big company tools will be left standing when the dust settles.