In the real estate business, marketing yourself is a way to get business, and in today’s day and age, marketing has evolved to digital marketing. It helps widen the reach of your business to a limitless scale, popular digital marketing mediums include great real estate web design for your website and a prominent social media presence.
For a real estate agent who is just starting to get their feet into digital marketing, hearing random terms like cost per lead or sales funnel can be overwhelming. You signed up to help people make the biggest transaction of their lives, not talk nerd gibberish
On the contrary, if you want to help people with the biggest transaction of their lives and want to do it using social media or paid ad advertisements, you need to learn these terms. Most Realtors want to generate leads online but don’t know some of the basic fundamental terminologies.
And what ends up happening is that they think that posting a few social media posts online is going to get new leads and some new business. I don’t want this for you. I want you to know at least a little bit about this stuff so you know what to be on the lookout for when it comes to your digital marketing strategies.
I’ve broken down some of the most common terms that you’ll run across in your journey of digital marketing.
Â
Term #1 – Sales Funnel
At its core, the sales funnel is the marketing model that illustrated the customer journey towards a sale or in your case the journey from lead to client. Now let’s talk about the word lead, this is an unqualified contact.
Term #2 – Lead
At its core, the sales funnel is the marketing model that illustrated the customer journey towards a sale or in your case the journey from lead to client. Now let’s talk about the word lead, this is an unqualified contact.
Term #2 – Prospect
A qualified contact. Differentiating prospect from a lead, a prospect is a lead that you were able to capture is ready and able to work with you. While a lead is anyone who comes across your marketing and expresses interest. Understanding if leads are qualified prospects would help you nurture the right leads and successfully convert them to a sale.
YOUR WEBSITE ISN'T GENERATING ANY LEADS BUT WE HAVE A SOLUTION​
In this free 20 minute video training you'll discover:
- 3 key secrets to restructuring your real estate business for growth
- Understanding the strategy of specialization
- A new approach to positioning yourself in real estate
- How to address your messaging to properly acquire prospects
Whenever you are ready, click the RED button below that says "Grab my training now"
Term #4 – 5-Star Prospect
This term is from Dean Jackson and it means a prospect that is willing to engage in dialog, friendly and cooperative, knows what they want, knows when they want it, and wants you to help them. Or in other words, your perfect client.
Ultimately, our overall in digital marketing is to be speaking to 5-Star Prospects
Term #5 – Triage
This is a fancy term for prioritizing a contact to better understand if this lead is qualified. This is how you turn a lead into a prospect. This is usually done either by an initial call. Understanding that not all leads are equal, you should not be wasting your time talking to unqualified leads, alternatively, you can use a survey or questionnaire that a lead has to complete and for you to go from. organized chaos.
Term #6 – Lead Capture
This is typically a form on a landing page with the sole purpose of capturing a leads’ information, this includes generic information on how you would be able to get in touch with them like name, email, and phone number. Here’s the thing about lead captures, nowadays they’re typically spam magnets. So instead of using a lead capture, you can opt to you use a scheduling application
LEARN HOW WE’VE GENERATED OVER 100,000 LEADS FOR OUR REAL ESTATE CLIENTS LAST YEAR
Marketing Strategy – create inbound strategies to better position you for the long game.
Systems Implementation – we design and implement systems for you to buy back your time.
Brand Building – position you as the thought leader and authority in your community.
Term #7 – Scheduling Application
This is an application that is connected to your calendar that allows leads to schedule appointments. This is a far more effective way than a lead capture. Clients scheduling a consultation will invest their time in learning more about how you can help them, consequently, having a higher chance to be converted to a lead.
Term #8 – Cost Per Lead
This is the amount of money it costs you to acquire a new lead. Keep in mind that all leads do not turn into clients.
Term #9 – Cost Per Acquisition
This is how much it costs you to acquire a new client. My advice, if you ever wanted to build predictability in your business, figure out your Cost Per Acquisition (CPA). Then it’s just simple math to how many clients you want per month.
Term #9 – Conversion
The process of turning a lead or prospect into a client.
YOUR WEBSITE ISN'T GENERATING ANY LEADS BUT WE HAVE A SOLUTION​
In this free 20 minute video training you'll discover:
- 3 key secrets to restructuring your real estate business for growth
- Understanding the strategy of specialization
- A new approach to positioning yourself in real estate
- How to address your messaging to properly acquire prospects
Whenever you are ready, click the RED button below that says "Grab my training now"
Final Thoughts
These are just the basics but it’s better that you know what these words mean to help you progress in your digital marketing strategies.In order for you to get good at this, you first need to understand the basics and I hope this has guided you with some context.
Find out more tips to help you with your business. Looking for more real estate website design tips? Join our free Square 1 Facebook Group today. If you need help building out your real estate website, we’re just a call away! We’re experts so feel free to reach out to us and we’ll be more than happy to help you out.
