Posts Tagged ‘internet’

Maximize Profits Through Hyper-Targeted Facebook Advertising

Monday, June 28th, 2010

Imagine if you could advertise your services in such a way that only those who are most likely interested would even see the ads.  And better yet, you only paid for when they acted on those ads.  Sounds a lot better than traditional print advertising doesn’t it?  This is what “hyper-targeted” advertising is all about and nowhere is the opportunity greater for this than on Facebook and yet few people in the real estate industry have taken advantage of it.

Facebook vs. Google

Facebook is huge with close to a half a billion members and continuing to grow rapidly each month.  What makes the advertising potential so great however is that by the very nature of the data found in “personal profiles”, Facebook has amassed incredible demographic and psychographic information on its members that is the envy of even companies like Google.  This information includes personal likes, dislikes, affiliations, interests and so on.  It doesn’t stop there however because Facebook also has the ability (and the necessary funding) to cross tabulate their internal member information with purchased third party data like magazine subscription information, group membership affiliation, etc which allows them to further refine their targeting ability.

When Google serves up ads to users of its search engine, the ads typically are targeted based only upon the search query because that’s limit of Google’s knowledge about that particular consumer.  Whereas when Facebook serves up ads to members, it knows far more about the member and can show ads (on the right side of the page) that are tremendously more targeted and hence more likely to convert. And Facebook ads can leverage built-in “social proof” to add credibility and increase conversion rates since your ads can show who else of the viewer’s Facebook friends have interacted with you or your services.  Also, the amount of time an average member spends on Facebook eclipses even the most avid searcher on Google.

Like Google Adwords, you can pay for Facebook ads either as Pay-Per-Click (PPC – recommended in most cases) or per 1,000 impressions (CPM).  The process of setting up, managing and tracking your Facebook ads is very straightforward.  And frankly, no one does a better job of explaining it than Facebook.  Just go to http://www.facebook.com/advertising to review the steps and best practices. (TIP: Facebook suggests ad pricing to best reach your defined ad target.  Let’s just say they can be a bit biased about this.  Experiment using PPC values that start out about 10% less than suggested and then continue to lower your bid amounts until you see a significant drop off in impressions.  This strategy can save you a lot of money!)

Now let’s take a look at all the ways you can use this high-powered advertising rifle to grow your business…

Hyper-Targeting for Hyper-Growth

The ways in which you can use Facebook advertising to grow your business and differentiate yourself are limited only by your imagination.  The following came out of a recent brainstorming session with my Online Dominance students.  To help organize these ideas, I’ve broken them down into categories:

  • Win New Listings – show your prospective sellers how you can advertise their listings on Facebook and receive literally thousands (if not tens of thousands) of impressions.  Chances are very good that none of your competitors are doing this and it will help you stand out considerably.
  • Sell Targeted Listings – if your listing is unique or fits a particular profile (e.g. Florida waterfront property) you can create an ad that is shown only to those who would likely have interest in this including “snow birds” from other areas that have a proven track record of purchasing this type of property.
  • Property Tours – advertise just about any kind of tour you can imagine (the more out of the box the better) to targeted Facebook members in your area.  Here are just some ideas that came up for this:
    • Riding horse property tours
    • Bicycle property tours
    • Waterfront property tours ending in a wine-tasting party
    • Luxury high-rise condo bedroom tours
    • Boat tours of waterfront properties
    • Golf course / property tours that include short presentations by the golf pros at each course
    • Foreclosure property tours, or pre-foreclosure tours (with the permission of the owners of course.)
  • Seminars – either in person or Webinar-based.  There are tons of possibilities here including:
    • Investor seminars
    • Foreclosure / Short-sale seminars
    • Invest with IRA funds seminars
    • First-time Buyer seminars
    • How to get around today’s mortgage maze seminars
    • How to prepare your home for sale seminars.
  • Community Involvement – you can advertise your community involvement by getting local people to participate.  For example:
    • Charity food drives
    • Client appreciation parties
    • Neighborhood block parties
  • Irresistible Offers – if you Website has irresistible offers, using Facebook ads is a powerful way to drive targeted traffic to take advantage of them.

Advertising without targeting is just taking shots in the dark.  Your chances of actually hitting something are pretty slim.  Advertising without the ability to measure your ROI is just throwing money at something and hoping it sticks.  Neither are a viable way to grow business profitably.  Facebook on the other hand offers a convenient, inexpensive way to hyper-target your advertising dollars and almost instantly measure the results.  And the good news for you is that very few real estate professionals have even started taking advantage of this potential.  Now is your chance to grow your business in a way that will have your competitors guessing and you smiling, all the way to the bank.

NOTE: Mr. Internet®, RUSSER Communications, its staff and officers receive no compensation whatsoever from any third party vendors (unless he/they are directly involved with the creation and/or improvement of a vendor service or product), and make no recommendations as to the suitability of the products or services mentioned in this article. Always thoroughly investigate any product or service before trying or purchasing.


Mr. Internet is the alter-ego of Michael J. Russer, an internationally recognized Internet speaker, trainer, author, and strategic consultant to the real estate industry. He’s dedicated to helping real estate professionals leverage their people skills into profit on the Internet. Send your Internet questions to help@askmrinternet.com or you can visit his Website at http://www.russer.com


This article is reprinted in its entirety from the June 2010 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright © 2010. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark of RUSSER Communications.

Refining Your Website For Greater Profits

Monday, April 5th, 2010

Web Refinement Cycle

Congratulations! You just launched your brand new Website loaded with the latest bells and whistles.  And, you can hardly wait for it to start cranking out new business while you sleep (hey, the vendor promised that would happen!)  Sorry to curb your enthusiasm, your Web marketing journey isn’t over, it’s just getting started…

Measure, Test, Refine

Let’s assume for the moment that your site has tons of new traffic coming to it on a daily basis.  Believe it or not, that is not a hard thing to accomplish.  What is much more challenging however, is getting your visitors to convert to new business.  That’s why it is important measure their behavior when on your site and consistently test additional ways to engage them and then refine your site to optimize conversion.  And, this is an ongoing process that should take place ideally on a quarterly basis.

For example, something simple as changing the words from “Featured Properties” to “Best Buys” made a huge difference to Realtor Jim Dolanche’s site in terms of click through rate.

www.JimDolanche.com

He never would have known unless he tested it.

Measuring What’s Hot and What’s Not

Imagine being able to sit over the shoulder of your visitors and see exactly how they interact with your site.  Measuring site visitor behavior is very different than visitor statistics and is crucial to understanding how your site does or does not engage people who land there.

CrazyEgg is a service that generates “heat maps” of your site pages showing you where people click and how often.  The brighter the spot, the more people clicked on that particular spot (see example heat map below).

crazyegg

CrazyEgg shows where people are clicking (the lowest form of engagement) whether or not there is a clickable link there.  In one snapshot you get an immediate and rich sense of what your visitors found interesting and just as importantly, what they didn’t.  For just US $9/mo you can measure the behavior of up to 10,000 visitors/mo on up to 10 pages of your site (prices current as of this writing).

Once you have measured your visitors’ collective behavior it is time to start testing alternative text, graphics, offers and even layout to see if these changes significantly improve your site’s ability to convert casual visitors into serious clients.

The ABC’s of A/B Testing

To effectively test changes to your site you need to have a way to randomly serve up both the current and changed versions of your site and then measure visitor behavior on each.  This is known as A/B Testing (or Multivariate Testing when making more than one change at a time), and is a very powerful way to consistently improve your site’s conversion performance.

There is good news and bad news about the A/B Testing process however.  The good news is that Google has a free A/B testing service call Google Website Optimizer that is very feature-rich and lets you test any changes to your site and statistically measure the differences in conversion, time spent on your site and visitor satisfaction.  The bad news is that it is so sophisticated that you will need the help of a knowledgeable Web developer and/or SEO person to set up the tests and measure the results.  One last caveat; your site needs to see several thousand visitors per month in order for test results to be statistically significant.

Consistent Incremental Improvements

Once you have completed visitor behavior measurement and A/B testing part of the refinement cycle, it is time to implement the changes you have determined will enhance your site’s conversion potential and start measuring all over again.  Ideally, you want to repeat this cycle 3 – 4 times a year.  Think of it as polishing your Website.  It just shines that much more brightly with each treatment.

Websites are not “launch and forget” marketing weapons.  They need to be consistently refined and course corrected if you want the most bang for your online marketing buck.  If you focus more on the Web marketing journey rather than the destination, you will have a lot more fun and more business to show for it.

NOTE: Mr. Internet®, RUSSER Communications, its staff and officers receive no compensation whatsoever from any third party vendors (unless he/they are directly involved with the creation and/or improvement of a vendor service or product), and make no recommendations as to the suitability of the products or services mentioned in this article. Always thoroughly investigate any product or service before trying or purchasing.


Mr. Internet is the alter-ego of Michael J. Russer, an internationally recognized Internet speaker, trainer, author, and strategic consultant to the real estate industry. He’s dedicated to helping real estate professionals leverage their people skills into profit on the Internet. Send your Internet questions to help@askmrinternet.com or you can visit his Online Dominance Fan Page at http://www.facebook.com/OnlineDominance


This article is reprinted in its entirety from the March 2010 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright © 2010. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark of RUSSER Communications.

The Secret to Online Lead Conversions

Monday, March 8th, 2010

One Thing...For most sales professionals, converting online leads is the bane of their Internet world.  Online consumers just don’t behave anything like those you meet face-to-face or on-the-phone.  Now imagine if there was just one thing you could do that would suddenly convert cold online inquiries into serious clients.

Small Steps to Solve Big Problems

In their new book: “Switch: How to Change Things When Change Is Hard” authors Dan & Chip Heath explore how big problems don’t always require big solutions or worse, big changes in behavior.  Big problems can often be solved by leveraging just one simple, small change in behavior.  For example, real estate companies and their agents have been struggling with how to boost online lead conversion since the inception of the commercial Internet.  They often approach this with massive training programs and/or constantly introducing even more complicated strategies (like social networking) when agents haven’t even mastered the basics of speaking the language of online consumers.

If companies and agents would use just one thing consistently, they would see their online lead conversions soar.  That one thing is what I call the Critical First Response Email script.  This is an email script engineered to be used specifically as the first response to online inquiries.  I crafted this script and have been teaching it since the 1990′s and always receive email from incredulous agents who are astounded at how well it works.  Here’s one that I just received a few days ago:

Last week I had used the email lead response script that was provided in the course.  I had been going back and forth with the prospect and finally met to show her the rental property this week.  Very nice, professional gal and we hit off very well.

She thanked me profusely for my quick replies to her emails AND said, the first email I sent to her was the reason why she trusted me!!!  It was non-threatening and she felt I totally understood where she was coming from making an internet inquiry.  It was EXACTLY as you and Michael said!!!   Amazing…

RuthAnne Salvatore, REALTOR/Broker Associate
C.R.S. Certified Residential Specialist
ERA Goodfellow Homes
203.994.4860 (Mobile)

Just One Thing…

Remember the movie “City Slickers”?  Billy Crystal’s character asks “Curly” the trail boss (played with dead-eye aplomb by Jack Palance) “What’s the secret to life?”  And Curly responds by holding up his finger and says “Just one thing…”  Well, I don’t know about the secret to life, but I sure as hell know the secret to boosting online lead conversions and it’s just one thing —consistently using the Critical First Response Script for every initial inquiry that comes your way via the Net.

Here’s Where You Find It

If you’ve read this far then you deserve to have access to this incredibly powerful, yet simple tool.  Just go to www.FaceBook.com/OnlineDominance and click on the “Cool Tools” tab at the top (you will need to be a fan of Online Dominance to get access to this tab’s contents.)  You will be able to immediately download this script right from there.

Remember, big problems can often be solved by very small changes in behavior.  Here’s your chance to find out just how powerful this thinking really is…

Convert PDF to Word —For Free!

Thursday, May 14th, 2009

PDF to WordPDFs make life so much easier in the digital world, turning anything you can print into a universally viewable document. However, they are not easy to modify and sometimes you really, really need to convert them to a Word document so they can be edited or repurposed. Now there is a new way to convert PDFs into Word that is so faithful to the layout of the original that it blew me away the first time I tried it.

PDF = Particularly Difficult Format

If you ever tried to edit a PDF document, even with some of the best tools available (including Adobe’s own rather expensive Acrobat Professional), then you understand why PDF can stand for “Particularly Difficult Format”.  And other software that purports to convert PDF to Word has failed miserably in my experience, until now.  Enter PDFtoWord.com which is a free online service that is as simple as 1-2-3:

  1. Upload the PDF you want to convert;
     
  2. Indicate whether you want a .doc (Word) or .rtf (Rich Text Format) conversion (TIP: stick with the .doc);
     
  3. Give your email address where you want the service to send you the converted document.

That’s all there is to it!  After a period of time (usually within 15 – 30 minutes) you will receive an email with your PDFtoWord conversion as an attachment.  I converted three very different PDFs into Word using this service.  If you right-click on the respective thumbnails below you can download and compare what the original PDF and resulting Word document look like.

The first test is a single-page flyer with graphics and several different styles of text.  Notice how PDFtoWord very faithfully preserved the positioning and look of the various fonts and styles.  My only complaint on this one is that the main graphic seems to have dropped one or two colors.

The second test is a PDF report from the California Association of REALTORS with the results of their 2008 online consumer survey.  This report is over 60 pages and contains many different types of charts and tables.  PDFtoWord duplicated everything extremely well with the exception of 2 or 3 bar charts.  Other than that I was completely amazed at how great a job it did.  Once again however, the first page graphic looks like it had several colors dropped compared to the original.

The last test is very complicated series of forms which I honestly didn’t think would convert successfully.  Check it out for yourself to see just how well PDFtoWord did.  The only thing I noticed in this particular test is that the software seemed to be confused about the font case in some instances.

Needless to say, PDFtoWord is going into my special box of cool “must have” tools.  Chances are you will agree whole heartedly once you’ve tried it as well.

Why Most Training Fails Miserably —And What to Do About It

Wednesday, April 22nd, 2009

In this market your sales associates are looking to you more than ever for training.  With the order taking days long gone, they certainly have the time for it and many are getting desperate for the “silver bullet” that will magically turn their dire situation around.  We all know that silver bullets don’t exist and real change requires hard work, dedication and commitment.  Yet most training programs, even started with the most sincere intentions, are doomed to fail even before the very first lesson is taught.  Here’s why and how you can make any training you provide totally effective and with a lot less stress…

First, let’s define what we mean by effective training.  Effective sales associate training occurs when their behavior permanently changes to align with what is being taught.  Based on this metric, most real estate sales associate training fails miserably.  Either your training efforts are a frustrating exercise of “talking to a wall” or at best, you have information transfer but little or no implementation.

Kids Are Easy, Grownups Not So Much…

Training adults has never been easy.  Unlike kids, most adults abhor change and long-term behavioral change is the very essence of effective training.  And, the accelerating pace of technological innovation and procedural complexity within the real estate industry makes this task that much more formidable.  Yet the increasingly competitive environment makes effective training a top strategic priority.  Without it, your company is not likely to make it through the current tough market cycle intact.

There is a very powerful and proven way out of this mess.  And to best understand how and why it consistently works requires that we first examine how most training is done today.

There are three basic categories of training for real estate sales people:

  1. Licensing – for the purpose of obtaining or maintaining a license to help people buy and sell real estate for compensation.  Real estate schools, brick and mortar as well as online, currently fulfill this need.  It should be noted that the word “training” in this context is a bit of a stretch.  As the purpose of this kind of instruction is not so much to change one’s behavior as it is to help them achieve the objective of becoming and remaining legally licensed.
     
  2. Basic Skills – to help new sales people a) work effectively from a procedural standpoint (i.e. understanding listing and sales processes, forms, procedures, regulatory requirements, etc.) and b) develop fundamental sales skills that will enhance their ability to generate new business and see it to fruition.
     
  3. Strategic Skills – to help experienced sales professionals develop attitudes, skills and behaviors that will maximize their long-term business growth and success.  This kind of training can include team building, marketing, business planning, use of technology and the Internet, etc.

It is with this last category, Strategic Skills training, that the industry struggles with the most because it requires the greatest amount of behavioral change from the students.  Yet until a sales professional’s long-term strategic behavior changes in accordance with what is being taught, no training has occurred.  It is the change of the sales person’s behavior, not the passing of tests that determines the efficacy of any training initiative.  And most strategic skills training initiatives fall far short of this goal.  The stakes are very high because effective training of strategic skills will also have the biggest impact on your company’s competitive positioning and bottom-line.

The Power of Collaborative Training

There are currently three approaches to training strategic skills being employed.  Perhaps it is best to think of them as hierarchies, with each subsequent approach subsuming the previous one and adding something extra to enhance training results (i.e. long-term behavioral change).

Training 1.0 (Immersive Curriculum)

All training requires a well thought out curriculum with specific learning objectives.  Many large sales organizations and franchises invest heavily in this type of strategic skills training.  Delivery can be both in the classroom or online, synchronous (live instruction) or asynchronous (self-paced), or a combination of both.  While this kind of instruction can measure whether a student understands what is being taught, it does not enforce the ongoing implementation of what was learned.  Therefore, given most adults’ proclivity for avoiding change, the impact of this training model is very limited (just ask any trainer).  It is akin to throwing information at a wall and seeing what sticks.  What is sorely lacking here is ongoing accountability that will ensure what is being taught is also being used.

Training 1.5 (Immersive Curriculum + Accountability)

This is the model used by most of the coaching companies that work independently of the sales organizations.  In addition to teaching strategic skills, these groups (Brian Buffini, CKG International, Mike Ferry, Tom Ferry, etc.) provide a means by which the student is held accountable for implementing their new strategic skills.  While an effective means of achieving long-term behavioral change, this training model has some serious drawbacks.  These include expense (often $400 – $1000 /mo or more) and lack of scalability.  Even the largest of coaching organizations have been able to attract barely 1% of the REALTOR population.  And, in times of down-cycle markets, substantial student attrition occurs when high-cost coaching is one of the first things to be let go as budgets are squeezed.

Training 2.0 (Immersive Curriculum + Accountability + Exclusivity + Collaboration)

This emerging training model addresses all the limitations of earlier ones by leveraging typical sales person behavior rather than fighting it.  It accomplishes this by incorporating the following:

Exclusivity – Not all sales people are ready to be trained.  There are three kinds of “cats” in any sales organization…

  • Cool Cats – these are the ones that see today’s challenges as opportunities, are committed, coachable and willing to collaborate and share ideas with others.  They are much more interested in having a career selling real estate rather than just a job (represent only 5% – 10% of the sales force);
     
  • Tom Cats – these are the “fence sitters” who tend to blame everything and everyone for their problems.  They are not coachable or committed to a real career and think of their business as simply going from one transaction to another (represent about 85% – 93% of the sales force);
     
  • Fat Cats – these are the “old-timers” who are typically very successful but not at all coachable and probably will retire within 3 – 5 years (represent 2% – 5% of the sales force).

The key to success in the Training 2.0 model is to work only with an organization’s elite group of “Cool Cats”.  Sales people want what they can’t have and this type of exclusivity leverages that behavior.

Collaboration – This is where all the “Cool Cats” collaborate, brainstorm and support each other to succeed in the implementation of what is being learned.  This innovative approach allows each individual to tap into the collective IQ and creativity of the entire group.  What emerges is an esprit‘d corps that powerfully enhances the ability to change student long-term strategic behavior.  It is also a way to quickly generate and implement strategic solutions that simply would not have emerged from any one individual.

Accountability – Each “Cool Cat” signs an Accountability Agreement that stipulates the special privileges, responsibilities and accountabilities (including specific consequences) as being part of the elite group.  Any member that fails to hold themselves accountable is removed from the group without hesitation.

Immersive Curriculum – To achieve true scalability, training must be provided online both in synchronous (live group coaching) and asynchronous (self-paced video lessons) formats.  It must also provide a way for students to prove that they have implemented what they learned in each lesson.  Implementation is the first step toward long-term behavioral change.  This approach also allows the curriculum to be disseminated for far less per person than a typical coaching program.

My company has used variations of this Training 2.0 model for the benefit of many real estate sales organizations since 2000.  I developed an “eTEAM” training protocol that involves forming elite groups of sales professionals that are the “Navy Seals” of doing business online within the brokerage environment.  A company’s “Cool Cats” are given a chance to self-identify and apply to join the eTEAM.  Each application is scored by measuring the commitment level of the applicant and their willingness to work with others.  Accepted applicants must then sign the eTEAM Accountability Agreement and pay for their own training.  Once formed, a broker’s eTEAM meets once a week and is facilitated by an eTEAM Leader whose job is to make sure the group works collaboratively and each member is held accountable for implementing what they learn.

The eTEAMS grow over time since some of the “Tom Cats” within the organization that see the success and benefits of being an eTEAM member will eventually seek to join.  Perhaps most importantly however, this Training 2.0 approach turns the typical sales person entitlement mentality into one of commitment and responsibility resulting in long-term positive behavioral changes in a highly scalable manner.

Traditional methods of strategic skills training clearly do not work well if at all.  And, there are no silver bullets.  The industry needs a model that addresses these issues and leverages the power of collaborative networks (both online and off), enforceable accountability and use of the latest online training platforms.  This emergent Training 2.0 approach incorporates these capabilities and provides a proven way to get sales people to change their long-term strategic behavior (for any kind of training) while adapting to rapidly changing competitive environments.

Then again, you could stick with the way you are doing training now and expect different results —but we all know where that leads to.

Never Struggle to Find Past Emails Again!

Monday, April 20th, 2009

On my way back from vacation this past week, I happened upon this new service called Xobni —strange name for such a powerful (and so far, free) service!  If you use Outlook 2007 and ever tried to find a previous or archived email, you know how time consuming and frustrating that can be.

This is where Xobni comes in.  It’s an Outlook add-on that gives you Google-like powers of instantly finding anything within your Outlook.  After it does the initial indexing of your PST file (the main Outlook database that contains everything –you can also have it index your archives as well), it allows you to do the following:

  • Find anything almost instantly using using “presumptive” search (i.e. as you type it returns likely hits)
     
  • Organizes your messages into threads
     
  • Find any attachment from previous messages
     
  • View statistics on your email activities (very cool –you have to see this for yourself to appreciate it)
     
  • and much, much more.

I’ve only been using it for a few days and have found it to be an invaluable add-on to my Outlook 2007.

DISCLAIMER: AS ALWAYS WITH ANY PRODUCT OR SERVICE DO YOUR OWN DUE DILIGENCE AND USE AT YOUR OWN RISK!
(sorry, my attorney’s make me say stuff like that :o )

Two Small Words —One Very Big Result

Friday, April 10th, 2009

Sometimes just the smallest of changes can have very big results.  Take for example a recent interview I had with Jim Dolanch (www.jimdolanch.com) during one of our Online Dominance Live Group Coaching sessions.  He described how he changed just three words to two on the home page of his Website which made a huge difference in visitor interaction.  And ironically the words he changed are commonly used by most agents on their Websites.  Here’s what he did…

First, take a look at how Jim’s Website used to feature a listing:

Just like everyone elses...
Just like everyone else does…

 Then Jim started thinking about what buyers are really looking for.  “Featured Property” implies you are trying to sell a particular property, which is not necessarily in their best interest (think about for a moment from their perspective –they don’t care what you think is special!)  So he changed the title to something much more interesting from the visitor’s perspective (see below):

Now this is much more interesting...

Now THIS is much more interesting...

The Results…

You wouldn’t think that something as simple changing “Today’s Featured House” with “Best Buys” would make much a difference —but did it ever!  Jim said his measured click-throughs for this part of his site skyrocketed compared to what it was before.  The moral of this lesson is two-fold:

  • Don’t look like everyone else if you want to stand out;
     
  • Stress visitor VALUE instead of FEATURES.

Now take a look at your Website for a moment from your visitor’s perspective (be sure to take off your REALTOR hat when you do :o ).  What two or three words can you change that will make a world of difference in the productivity of your site?  A very worthwhile exercise indeed!

Your Online "Silver Bullet"

Thursday, February 5th, 2009

Despite the title of this article I am not a big fan of the term “silver bullet”.  It implies that if you do (or purchase) just “one thing” the sky opens up, the birds start singing and all your business problems will suddenly disappear.  There is no such thing.  However, if you implement what I’m about to share below you will realize the closest thing to a “silver bullet” to doing more business online that has ever been offered in the real estate industry.  And, it won’t cost you a dime…

The Amazon River of New Business

Even in today’s toughest markets, the Internet is still the “Amazon River” of new business that most sales people either ignore, or haven’t a clue on how to fish.  In fact, most business is lost with the very first email a sales associate sends as a response to an online inquiry.  How you reply to an initial online inquiry will ultimately determine whether or not you are going to do business with them.

Remember, the online consumer is someone you can’t see, shake their hand, check out their body language or even hear the sound of their voice.  They prefer shopping for properties and services under the veil of anonymity provided by the Internet.  Any attempt to impose traditional (i.e. face-to-face or on the phone) sales techniques with this consumer will only serve to drive them away from you.

Crafting an appropriate response to an initial online inquiry requires understanding what is important to the online consumer:

  • Privacy – everybody who does anything online is concerned about privacy;
  • Staying In Control – this means they want to be in control as to when and how much they reveal about their needs and wants;
  • Unrestricted Access to Information – consumers use the Internet because it gives them instant access to tremendous amounts of information while remaining anonymous. Being required to reveal who they are to receive information will only frustrate them.

Critical First Response Email Script

Let’s apply what we know about the online consumer and create an email first response “script” that will attract the consumer rather than repel them.

Now assume for the moment that you just received an inquiry that looks something like this: 

Most sales associates (if they bother to respond at all) typically start probing for more information and/or attempt to qualify “Jane” -which is exactly the wrong approach.  The following is a script that is specifically designed to “speak the language” of the online consumer and is the closest thing to a “silver bullet” you can find online:

Put yourself in the position of being “Jane”, who just sent the inquiry to a REALTOR.  When you get this kind of response back, how are you feeling?  What does this response say about the sales professional who sent it?

You will note there are two versions of the Critical First Response script above depending upon whether or not the consumer provided their phone number.  Many sales people think that if the online consumer provides their phone number in their initial inquiry, then that is an open invitation to call them.  Ironically, that is typically not the case.  The second version of this script shown above helps you address this situation.  Just send the response, wait 24 hours and then give them a call (assuming of course they did not explicitly ask you to not call them).  You will find that by doing this the reception you will receive at the other end of the phone line will be considerably warmer.

By using this script you will immediately change the relationship you have (or could have) with the online consumer.  And, your ability to convert them into new business goes up tremendously.  In case you have any doubts about the efficacy of these scripts, I receive emails from sales associates all the time who tell me how well it works.  Here’s just a couple I’ve received recently extolling the power of this approach:

I thought Charles’ offer to take me deep sea fishing was quite generous until he said that as a direct result of using these scripts he earned an extra $100,000 in commission in just 3 months.  Oh yeah, almost forgot to mention that about 70% of the closings in his market are REO and Short Sales -without question a rather tough place to do business.

Here’s another sales associate who was so excited when she saw the results of using this script that she shared the consumer’s response with some of her fellow associates:

The first part of the consumer’s response to Talley’s reply is very instructional (highlighted section).  You will see that she explicitly voices the very things we discussed earlier that are important to all online consumers.  It’s as if it came from the mouths of babes!

If It Ain’t Broke Don’t Fix It!

These scripts are easy to implement.  Simply create an email signature for each version of the script, making sure that your spelling and punctuation is correct.  DO NOT be tempted to alter these scripts by even one word (other than of course your contact and PS: copy).  Invariably, when sales people “tweak” the text they introduce their unconscious bias’ into the copy that typically reduces its effectiveness.  I’ve heard some sales associates complain that the scripts don’t “sound like them”.  Chances are they don’t, otherwise they wouldn’t be having the problem of converting online inquiries into closed transactions!

Success with online consumers is all about understanding human behavior.  By applying this understanding in a practical way via “Critical First Response” email scripts you greatly increase your chances of turning casual inquiries into serious new business, no matter how tough your current market is.  While not a “silver bullet”, they certainly are the next best thing.

 

NOTE: Mr. Internet®, RUSSER Communications, its staff and officers receive no compensation whatsoever from any third party vendors (unless he/they are directly involved with the creation and/or improvement of a vendor service or product), and make no recommendations as to the suitability of the products or services mentioned in this article. Always thoroughly investigate any product or service before trying or purchasing.


Mr. Internet is the alter-ego of Michael J. Russer, an internationally recognized Internet speaker, trainer, author, and strategic consultant to the real estate industry. He’s dedicated to helping real estate professionals leverage their people skills into profit on the Internet. Send your Internet questions to help@askmrinternet.com or you can visit his Website at http://www.russer.com


This article is reprinted in its entirety from the January 2009 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. January 2009. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark and IECTM and Ask Mr. Internet!TM are trademarks of RUSSER Communications.

REALTOR® Wins $25,000 Web Makeover

Monday, October 27th, 2008

San Diego, CA, October 14, 2008 – Patrick Canavan, a Prudential Eco-Broker from Orange County, California, won a life changing, and business changing makeover!  Organized by Cherie Young of Online Marketing Strategies in partnership with Michael Russer (aka Mr. Internet®) and other top real estate partners, Mr. Canavan is receiving consulting, training, and other services valued at over $25,000, all dedicated to overhauling his website, www.EnterYourDreamHome.com.

Two years ago, Cherie and her partners decided to give back to the real estate industry by providing one of Michael Russer’s students with a website makeover.  Ms. Young says, “The first Amazing Website Makeover was so successful that we decided to do it again, only this time we are taking it to the extreme!  We chose Patrick Canavan based on attitude and shear grit.  As an Eco Broker, his green real estate target market was the pivot point for our selection.”  Michael Russer endorses this selection, saying, “More and more people are making environmentally conscious choices in their lifestyles, and the real estate industry is answering that need.  Several savvy REALTORS® are focusing their services on the ‘Green Niche’, but they need help to build awareness of the possibilities.  I am proud to join Cherie and the other businesses contributing to this cause.” 

Although the sponsors were providing the products and services, Mr. Canavan did not get to sit idly by under a shady tree.  He had to put in some hard work to bring all the pieces together:

  • Website design from Cherie Young of Online Marketing Strategies.
  • Point2 Agent co-sponsored this initiative, bringing in many of their associates.
  • Michael Russer is providing internet and business coaching through Online DominanceTM.
  • IDX solutions was sponsored by Diverse Solutions.
  • Training for Patrick’s blog, OrangeCountyRealEstateVoice.com, by the Real Estate Tomato University.
  • Custom designed email stationery from Onletterhead.
  • Single property sites designed by Agency Logic.
  • AgentsCast will be providing premium video real estate services.
  • Randy Eagar from WebsTarget is providing search engine optimization.
  • iScan is providing a one year subscription to their DRE compliant paperless transaction CD service, branded to his custom website.
  • NeuStep will provide one virtual walk through for one LEED Certified listing using their WebWalkTM real estate technology.

The final result is a beautiful custom real estate website which not only gives Patrick Canavan a tremendous internet presence, but provides truly valuable content and services to his customers.  For additional details, please contact Cherie Young at www.CherieYoung.com.


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