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17
Qualified Leads Fuel Business
Many times, new business owners start with a clear idea of what they want to offer the world — and it's something that excites and uplifts them. As they think about the details, however, doubt creeps in — and it shows itself the same way across all industries.
"I can't turn away business," they start to think. "I have to appeal to everybody!"
No matter how many books you read or business coaches you hear from, it can feel counterintuitive to be told to "niche down." Deciding on a small segment of the total customer base to focus on may seem like a scary commitment, one in which you're not sure the other side will "love you back."
Yet, focusing your strategy allows you to do the same with your marketing, advertising, and other types of communication. And it's precisely that laser-focus that appeals to people. Because you get specific, they recognize you understand their problems. That draws them to you!
This is especially crucial in real estate.
In your first year as a real estate professional, you might feel like you're doing a little bit of everything. After all, there's so much to learn! Soon, you start to develop a better sense of which customers fit you best. Ideal customers should be easy and fun to work with so you can add value to their lives!
On the other end of the scale, some customers will drain your energy and may leave you miserable.
It's crucial to get those encounters out of the way in the first year — because your business is not "for everyone." It's for the right people with the right budget at the right time. Those are qualified leads, the ones more likely than anyone else to become customers, and they grow your business.
Sad, but true: Unqualified leads don't add to your bottom line, no matter how many you get!
How to Qualify Your Leads the Easy Way
Ideally, you would be able to qualify your leads by collecting just a little bit more information each time you encounter them. You might get some details when they sign up for your email list, a few more when they register for an open house, and a little bit more when they schedule a call.
By spacing out your "asks" naturally in encounters like these, you can learn a lot!
And an all-in-one real estate solution like DeltaNET®6 makes it much easier. That's because your CRM can capture and analyze details any human would easily overlook. Making connections between all the thousands or even millions of data points available, an AI-driven app helps you turn "information" into "insight."
Still, it's a wise idea to have a qualification framework in mind.
A qualification framework is a system of expected data points you collect about each prospective customer. Prospects that give answers within a desirable range are well-qualified leads. Those whose answers are outside the norm may be poorly qualified or not qualified at all.
In real estate, people are often trained to maintain every relationship they can — "you never know who'll become a customer!" With a qualification framework, you might still get caught by surprise now and again, but you will be able to develop informed expectations about every prospect in your funnel.
When you know, you can focus your attention on leads most likely to be your future customers.
Plus, you can do something that might otherwise feel unthinkable: Let go of unqualified leads! Referring them to someone who can meet their needs better does a service to them, you, and a colleague of your choice – and with a steady stream of truly qualified opportunities, it'll always feel good.
A Simple Real Estate Lead Qualification Framework
The BANT framework originates in business-to-business sales and adapts very well to real estate.
For each prospect, ask these questions:
Budget
Does the prospect have a budget that matches the type of properties in the local area you typically deal with? If not, can you help by providing facts about mortgage qualification or new homebuyer programs?
Authority
Is the prospect "in charge" of the buying decision? If working with a couple, both should be consulted on everything. If a large family is moving, everyone's preferences and needs should be taken into account.
Necessity
Does the prospect "need" to move now? If not, what would increase the sense of urgency? If so, what roadblocks are standing in the way — succinctly, why hasn't the person taken action? How can you help?
Timing
Is the prospect planning to move now, next week, next month, next year? Get a sense of projected timing and any contingencies. Entice long-term "waiters" who are well-qualified onto your email list.
Contact us to discover how digital marketing automation can help you qualify leads faster and better.
