Hey real estate enthusiasts! Today, I’m excited to share some invaluable insights from Christina Krause, a seasoned real estate investor and lead generation expert. If you’re serious about growing your real estate business, you’ll want to pay attention. Christina brings years of experience and a wealth of knowledge on how to effectively generate and manage leads.
Meet Christina Krause
Christina Krause hails from Delaware and has been an active real estate investor since 1999. Not only does she manage her own investments, but she also runs Postal Impact, a data and analytics-driven lead generation company for real estate investors. She’s been involved in everything from rental management to multifamily conversions and knows the highs and lows of the industry.
The Importance of Data in Lead Generation
Christina emphasizes the critical role data plays in successful lead generation. She highlights that knowing your numbers isn’t just helpful; it’s vital. Her approach involves using data to identify what’s working and what’s not, ensuring you’re not just relying on gut feelings or copying others blindly.
Letters vs. Postcards: A Case Study
In one example, Christina compares the effectiveness of sending letters versus postcards:
- Postcards:
- Lower cost
- 0.86% response rate
- 7 appointments booked
- 2 deals closed
- Letters:
- Higher cost but higher impact
- 1.37% response rate
- 22 appointments booked
- 8 deals closed
Insight: While letters are more expensive, they resulted in more appointments and closed deals, proving their worth despite the higher initial investment.
The Power of Retargeting
Christina stresses the need to retarget leads. Some people will never respond to a postcard but will react to a letter, a phone call, or a knock on their door. Retargeting ensures you’re not missing out on potential deals just because you didn’t try another method of contact.
Tracking Your Campaigns
One of the main takeaways is the importance of tracking every aspect of your marketing campaigns:
- Response Rates: Initial reactions to your mailers.
- Net Lead Rates: The actual valuable leads generated, after filtering out opt-outs.
- Appointment Rates: How many leads convert into actual appointments.
- Deals Closed: The final metric—the number of deals you close.
By meticulously tracking these metrics, Christina’s team helps clients identify high-value leads and discard ineffective ones, optimizing marketing efforts and maximizing returns.
Missed Opportunities in Lead Management
Christina points out that many businesses miss 30-35% of calls. These are potential leads that never get a callback. Implementing a system to track missed calls and following up immediately can significantly increase your conversion rates.
Follow-Up is Key
She also emphasizes that the majority of deals come from follow-up sequences. If 70-80% of deals are closed through persistent follow-up, it’s clear that dropping the ball here can cost you dearly. You need a system in place to ensure every lead gets the attention it deserves.
Automation and Outsourcing
Given the importance of data, Christina advises automating and outsourcing tasks when necessary. If data analytics isn’t your strong suit, hire someone or use a CRM system that can handle it for you. This allows you to focus on the high-level strategy and let the system take care of the details.
Conclusion
Christina Krause’s insights are a goldmine for any real estate investor looking to up their lead generation game. By focusing on data, retargeting, diligent tracking, and rigorous follow-up, you can transform the way you manage leads and significantly boost your success rate. Remember, understanding your numbers isn’t just an option—it’s a necessity.
So, are you ready to inject some serious science into your lead generation efforts? Start tracking, analyzing, and tweaking your approach to see the difference it can make!
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