5 Ways to Increase Real Estate Marketing Conversions
Real estate marketing is only as effective and profitable as your conversions. So how can more real estate pros increase conversions to leads and enjoy more closings?
The Undervalued Power of Real Estate Yard Signs
While there are many hi-tech real estate marketing tactics being floated today from drones to virtual open houses, the good old, time tested yard sign is still the power pillar holding up many great real estate careers.
Real estate signs are cheap. That means a massive ROI on each deal and lead generated with them. This can be mere pennies or less compared to hundreds of dollars for direct mail or internet driven deals.
A better sign strategy also compliments and boosts local market dominance, increases 'touches', and enhances overall marketing ROI and deal flow.
So how can real estate agents, investors, and businesses get more out of their yard signs?
1. More Signs
Home buyers and sellers frequently use sign density to judge which local agents and companies are the best. Simultaneously one of the biggest challenges to sign effectiveness is visibility. Even the best signs are going to struggle if they are deep in neighborhoods and side streets. Elevate visibility by using supporting signs on main thoroughfares to lead prospects to your inventory.
2. Use Sign Riders to Catch Attention
Sign riders can boosting targeting, catch attention, and drive more interaction and inbound real estate leads. Riders can go on top, on the bottom, bring in different colors, highlight features, and appeal to prospects that prefer to engage in different mediums.
3. Text & SMS
One of the main reasons that signs haven't produced breathtaking results in the past is that consumers have become burnt out on sales pitches. They want to gain enough information to know whether this is for them, before they subject themselves to a sales pitch. A sign with only a phone number doesn't provide that capability. Offering prospects the ability to text in on the spot and automatically receive property information bridges that gap.
This dramatically drives up conversion rates, even if immediate contact isn't made. According to the National Association of Realtors and the Direct Marketing Association "a phone call has a 13% conversion rate to sale." That is warm calls, not cold calls. Text messages have had an almost 100% open rate. That clearly dwarfs the conversion rates on direct mail and online real estate marketing which can be less than 1%.
4.Augmented Reality
Augmented reality offers the ability to really geek out your real estate signs. No longer do real estate marketers have to rely on ugly QR codes. Layered augmented reality, and Amazon Firefly type technology offers prospects the ability to scan signs to reveal all types data, and interact with brands and homes. Deploying this technology may not be cheap or fast, but it is cool.
5. Respond & Follow Up
Inside Real Estate reports that "70% of online real estate leads report they are not followed up with effectively." That ratio may be even higher for inbound phone calls. That is precious marketing dollars being flushed away on an hourly basis. A good text and SMS system can ensure both parties have each other's contact details and warm follow up and engagement can be kick-started. Respond fast, and follow up, and you could grab the 70% of the business that your competitors are letting slip away
800OpenHome offers a simple to use mobile SMS tool free to real estate pros and businesses ready to take their marketing conversions and volume to the next level. Test it out now... https://www.800openhome.com