Thanks so much to my friend, Bryan Robertson for allowing me to reprint this amazingly well-written article about how to turn a frog into a handsome price (or rather, how to convert low quality leads). If you get any Internet leads or leads from other sources, there are often not of the highest quality. So, while you don’t want to spend all your time converting leads that aren’t ready or interested, there are some great tips in this article on how to best spend you time dealing with a not-so hot lead.
How to Convert a Low-Quality Lead
I had a colleague point out that sometimes the leads we get are “D” quality. They’re the ones that enter “Joe Schmoe” for a name and “650-555-1212” as their number. In my “Six Lists” training, these would be a “C-“! This consumer wants the information, just without giving you the chance at converting them. That’s just not fair! Guess what, they know that. So now it becomes a game.
STEP 1 – Find the Consumer Game
Using Google and the myriad online “big data” resources such as Spokeo.com and Whitepagesgogreen.com, you should be able to find the consumer if you have anything real such as an address. This is good with listing leads. Buyer leads are a bit harder.
Buyers may use a real email address but nothing else. If so, just Google the email address itself. Trust me, if you do you have a decent change of finding someplace else online where the consumer used the same email. It’s like playing “Whack a Mole” – they pop up one place, disappear, and pop up someplace else. You’ve just got to figure out where they’ll pop up next.
If you spend more than 5 minutes searching you’ve probably spent too long.
STEP 2 – Lead Profiling
First, they’re not a client, just a lead and a bad one at that. That said, this is about conversion. That consumer wants the information for a reason and conversion is about getting to that reason.
Using the information you got trying to find them, you should have contact information and other details on who they are. Build a simple profile with name, age, address, phone, email, and whatever else you can find so you have some insights into who they are.
The value in this is you’ve got something to talk or write about when you reach out to them. They might be surprised (probably will be) that you tracked them down. They might ignore you (most do) but you might actually make a connection.
STEP 3 – Make Contact
This seems like such an obvious step but you’d be surprised how many agents I meet that don’t call many of their leads. You can use whatever means you like but here’s what I do:
- Call (up to 5 times, various times of day)
- Email (no more than twice so you don’t look like SPAM)
- Personal note or letter (once)
As with all leads, this is a numbers game. For every 100 “C-” leads you work on, you might get 2-3 to become solid “C” leads or better. They’ll take more work but can be just as valuable as the other leads you generate. Just remember, make the most of every contact you make in the community.
HOT TIP: Time is your most valuable resource. Don’t waste too much time tracking down these low-grade leads. A little investment is fine but don’t make it a major time suck.