"A few years ago, I left a big brokerage with a large team to start my own independent company. While in the process of setting up the new company, it gave us an opportunity to really dig into everything in our business and see if we should continue doing what we were doing or change course. One glaring issue we couldn’t ignore; our buyer internet leads weren’t making us any money. In fact, after splits and expenses, we were LOSING money on them and spending a fortune. We went through all our marketing and cut out everything that didn’t give us a return. Once we got our footing and back to profitability, we also realized we needed more brand presence in our market since no one had heard of our company or seen any of our signs. The issue then became scaling the seller side of the business with what we
Our two biggest listing sources were neighborhood farming and radio. These proved to be two challenging sources to scale. We were already dominating the highest turnover neighborhoods, postcards were expensive, and the other radio stations we tested just left us with a huge bill and very few calls. We were searching for answers and started talking to other larger teams and listening to podcasts. What we realized is we had to start cold calling if we were going to be able to scale our seller side of the business, keep the cost per lead low, and increase our presence in the area. That just led to another disaster. We hired a bunch of costly inside salespeople, it took up a lot of our time managing and training them only for them to leave and not produce. At this point, we were six figures deep in expenses with nothing to show for it. We could not afford to make any more mistakes. The good news is that we knew exactly what we needed in lead flow, cost, and conversion to make something work.
One day we were listening to another podcast and the agent mentioned this company called 1000 Calls a Day and we just lit up thinking, “That’s exactly what we need!”. After signing up, we’ve been nothing short of impressed, which is not easy to do. From the moment we started working with them, there communication was thorough, timely, and informative. The beauty behind it is they hire, train, and manage the caller and we reap the benefits of their results. Our time is only spent on giving them feedback on the results, so they can improve the quality of the leads they send us. We were blown away in just our first month with 122 leads! The best part was we actually had conversations with 105 leads and are actively working 90 of them! I can’t say we’ve ever had that high of a contact rate with any of our outbound lead sources. We got our first listing in the first two weeks in the slowest time of the season. Needless to say, we are ecstatic with the results. We are just plugging these leads right into what we already do to nurture and follow up with leads.
It’s now the easiest, most consistent seller lead source we have! It’s scalable and we can build relationships with these clients before anyone else even knows they’re selling! I cannot wait to see how it grows exponentially long term. If you don’t have an outbound strategy in your business, I highly recommend you talk to them today."
then later that week...
"Hey Frank! I cannot believe this but I audited the numbers this morning so it's real! Currently our cost per lead is $32.12. Our cost per lead for radio is over $254 and direct mail is $151. Based on our conversion rates from direct mail, our NET ROI will be around 14:1. Even if we convert at our current internet lead rate (which I cannot imagine it would be that low considering our contact and nurture rate is so high), it will be 7:1. That's the same projected ROI we have from our current number of identified nurtures which will go up as we continue to follow up. The nurtures are the most accurate projection since they're verified, meet specific criteria and are all on the same marketing campaign. I'd like to see how this would compare to our property buying direct mail if we were calling on that type of list. I think it would be HUUUGE! It's super exciting! Also, I forgot to mention in my testimonial that we did try another outbound calling service. It was more expensive and they didn't manage or train the caller which was why we had poor results. That was part of the six figures we wasted :-) "
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