I hope everything I shared about real estate lead generation and lead segmentation has helped you. This week’s topic is on successful lead nurturing process.
The process of building relationships with prospects along with the goal of earning their business once they are ready is termed as Lead Nurturing. The secret of a successful lead nurturing process is being helpful and relevant, offering value beyond the sale. In simple words, just follow the word definition of Nurturing – Help Someone Grow.
A case study has shown that 73% of the B2B leads generated via various lead generation methods are not sales ready. Lead Nurturing process is important to convert those ‘not-sales-ready’ leads into sales-ready leads. You educate these prospects, build trust, and help them in the path of conversion. That’s a successful lead nurturing process.
- 1 Lead Nurturing Bridges The Gap Between Marketing and Sales
- 2 Broadly, there are four types of emails:
- 3 Sign up Now
Lead Nurturing Bridges The Gap Between Marketing and Sales
Conversions achieved using lead nurturing set 20% increase in sales opportunities. So, not just marketing but the whole company gets to benefit from lead nurturing process.
Email is an important way to communicate with your leads, but it can also be abused. Email marketing is often compared to spam, here’s why.
Realtors purchase contact lists and send irrelevant emails to the whole list resulting in people putting you in the spam folder. With lead nurturing, you should know you are using it as an inbound tactic, not as an outbound tactic.
These are the three best practices for building an effective lead nurturing strategy
- Using lead nurturing for your business
- Build a lead nurturing workflow
- Communicate with your leads based on their behaviour
How to use lead nurturing for your business?
Well, there are three ways to think about it.
- The traditional approach to lead nurturing: In this model, you generate a new real estate lead via any method. You qualify whether that lead is a good fit and interested in your services. This you do by sending emails and following the proper channel. Once a lead has shown good fit and interest, it’s time to take that lead to the sales process. If you are managing all by yourself, then simply put on your sales cap and put that lead in the sales bucket.
- The Sales-Fit Nurturing: When you convert a real estate lead – again, either any of the methods. You take that lead directly to the sales bucket without nurturing it. If the sale becomes successful, that’s job done. If it doesn’t convert to a sale that means the lead is not sales-ready. Then you send that real estate lead back to marketing bucket and nurture it until it becomes a sales-ready lead. Once the lead is nurtured successfully, send it back to the sales bucket.
- Lead Nurturing as a Gatekeeper: In this scenario, you convert a real estate lead and then start nurturing them. If the lead is successful, then nurturing is paused and the lead is given time to travel on the path of purchase. If on the purchase path, the lead is on hold and not showing any sign of being a sales-ready lead, then you continue to nurture that lead using a different approach. Send relevant and appropriate offers.
If you need help choosing the best lead nurturing practice, then consider answering these questions before choosing the lead nurturing practice
- Number of real estate leads you to get each month
- Channels through which you get those leads
- If you have sales representatives, then how many
- The business model and the sales cycle you are following
You can always switch to another model if you think it might be more effective. Experimentation and testing are an important part of an effective email strategy.
Lead nurturing strategy to know how to build an individual lead nurturing workflow. It’s comprised of three steps:
- Deciding who you would like to nurture
- Selecting a Goal
- And Sending emails to help readers accomplish that goal
Deciding who would you like to Nurture: This is possibly the most important decision for your lead nurturing strategy and workflow. These steps determine with which group of people or segmented list, you care going to communicate with. This is where send the right message to the right person at the right time come in.
Read my Blog on Lead Segmentation. Once you’ve decided who to nurture, the next step is to determine a goal.
Determining a Goal: Design a structured and purposeful experience for your leads. That means picking plain, real and actionable goals that can be measured such as
- Attend a webinar
- Download an ebook, guide or offer
- Request a consultation
- View a case study
- Start a free trial
Writing & Sending Emails to Accomplish Goals: Take a minute to consider some key questions before you start building:
First, how many emails do you plan to send? I recommend 3 to 4 emails per lead nurturing workflow. You can always add or subtract emails depending on the success.
How long should the time delay between each email send?
While considering the time delay, take into account: The stages in your buying cycle because the buying behaviour is different while buying a house than the behaviour while buying a phone.
Lastly, what is the goal of each email in the workflow?
Broadly, there are four types of emails:
Trust Emails: Trust Emails create relevancy and trust that will condition your contacts to open future emails.
Additional Downloads/Resource Emails: Additional Downloads emails educate your leads and give your valuable insight into which topics and information resonate with your contacts.
CTA for Goal Emails: CTA for goal emails positions the goal of the workflow as the next logical step for a contact to take. They are direct and to the point.
Break-up Emails: Break-up emails make it clear this is the last time a lead will hear from you. The goal is to keep these contacts engaged or to learn why you missed the mark with your messaging in this nurturing flow.
Communicating with your leads based on their Behaviour
Behaviour email: It means sending emails to your contacts based on their actions and behaviours.
To choose behavioural mail
Track how people interact with your business online: Each channel, and event is a chance to listen to users, learn more about them and start a conversation.
Determine the important actions a user might take: The important actions include lead submit the form, viewing the case study, sending weekly updates about new blogs.
Start a conversation with a user on that behaviour: choose the best channel, and personalized message to start a conversation with the user.
This is how an effective lead nurturing process looks like. Take for instance that your goal is to make users signup for consultation. Here’s how you do it.
Goal: To request a consultation
Set Starting Criteria: Download an ebook offer. An educative offer that enlightens them, and after reading that they might have a few questions and would like to clarify their queries.
Step 1: Send a Blog Post related to the topic for which you want people to ask for a consultation. In the blog post, you should pitch that you are an expert in the field.
Step 2: Send a Case Study that is relevant to the topic.
Step 3: Now, when everything is in place, send an offer to request a consultation. By now, you’ve built a reputation among the users as an expert. Now, you are the one who can answer their questions and solve their queries.
In the second scenario where you want people to attend your webinar, here’s how you can set it up.
Goal: To have people attend your webinar
Starting Criteria: Shoot a straight Signing up for your webinar. Give all the reasons why they should attend it. ‘How it will benefit the attendees’, ‘Topics of discussion’, and ‘send in your queries’ everything that is a highlight of the webinar.
Keep reminding people about, it. Don’t overdo it by sending the reminder mail daily. Keep a delay of 15 days.
Step 1: Send a 30-day reminder email
Step 2: Give valuable content in email 15 days before the webinar. You can highlight the special attractions, list of speakers, and topics of discussion.
Step 3: Send a reminder email and a formal invitation a day before the webinar
Day of Webinar: Send a thank you next day email
If you have any other idea for a successful lead nurturing process, do share it in the comment section.
If you have any doubt or query that you would like to ask about real estate lead generation, lead segmentation or lead nurturing for real estate leads, I’m always here for you.
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You don't need any company like this to take your money and provide you useless leads. Until you're bringing in more leads than you can handle, there's NO reason to out-source your leads. Do it yourself, time manage your activities and you will be very successful.