Converting quality leads into good business
A key focus in the last edition of Trademark was lead generation, with our ten top ways for getting your phone ringing hot with potential customers. In this edition, we take the next step: looking at strategies to convert would-be home buyers into happy customers. Even if your conversion rate is strong, it is important to remain hungry in the hunt for work and vigilant in your processes for capturing and converting leads into sales. Let’s take a look at some tried and tested techniques...
Capture leads with the right lure
You don’t have to wait for customers to contact you. Particularly online, there are several ways you can capture customer details so that you can pro-actively contact them.
One method is to request potential customer details in exchange for an informative download to help them on their building journey. Customers are often willing to provide their details to gain helpful information via a downloadable brochure. Topic ideas include: ‘Mastering Building on a Slope’, a ‘Catalogue of House Designs’ or ‘The Ultimate Guide to Building a House’. Engaging a copywriter and graphic designer to develop these brochures will be key to a professional finish, and this investment could easily pay for itself in the number of leads generated.
Strategically placed forms on your website can be effective too. Simple ‘call to action’ buttons such as ‘tell me more’ or ‘book a free consultation’ can link to a form which asks the potential customer to enter their contact details.
Not all leads are made equal
While all leads hold potential value, it can be hard to know which of the simple “what’s the cost?” queries will turn into the solid “we’re ready to build now” customers. Therefore, it can pay dividends to spend time up front qualifying your leads. Think about the type of customer who you most want to work with – your ideal customer. Then develop a series of questions you can have on hand to help you identify those customers and prioritise your precious time toward them.
Questions can include:
- Do you have pre-approval from the bank or is your finance secured?
- Have you already purchased your land?
- Where is the land located? Is it titled?
- Can you share your land contract?
- What is your budget?
- Do you have quotes from other builders?
- Are you looking for a custom or a pre-designed home?
- What size home are you looking for?
- One or two storeys? Number of bedrooms, bathrooms, living areas?
- Are you willing to pay for the quote?
Even if you don’t acquire all the answers you need during the first contact, by having a few qualifying questions ready, you’ll be in a more informed position.
Act fast for success
With any lead, taking prompt action will work to your advantage. Make contact, introduce your business, talk up your service offer and learn what the prospect is looking for. If your prospect is ready to go with finance and has titled land, there may be a number of builders vying for their purchase. Respond to enquiries fast and book consultations as soon as possible. Provide a first impression and experience that stands out from the rest. Prospects will take notice of those builders who respond quickly, who listen, are friendly and demonstrate knowledge and professionalism.
Clear communication creates conversion
Great communication can improve your prospect’s understanding of you and your business. It is the foundation of a trusting partnership and vital in converting leads to purchasers. At the end of the day, people choose to do business with people they trust.
Proven communication tips include:
- Responding to prospects quickly and professionally, via their preferred contact method
- When you don’t have the answers, let your prospect know when you will get back to them and then follow through
- Be transparent and informative. An informed prospect is able to make a faster decision
Make it easy
Customers have lots of questions! Create confidence in your level of service by being prepared to answer questions upfront. Publish a frequently asked questions page on your website. Consider the reference to Government resources that will help answer questions about warranties, problem resolution or legislative obligations. You might include the contact details of specific Government departments, to show you’re confident in your product and service.
Frequently asked questions can include:
- What is the build process?
- How long will it take to build my house?
- What if the build time goes over?
- Can I change my mind through the process?
- When are payments due and what percentages?
- How do I get finance?
- What is a site survey?
- Can I bring my own house plan?
- Do I need an architect or draftsperson? How much do they cost?
- Can I take my plans to another builder?
- What are the final deadlines and are there any added costs?
- What warranty does my house come with?
- What is included in the build?
- What if I don’t want to go ahead after the site survey/ drafting/design process?
Appeal to your customer’s head, and to their heart
Making the decision to build a home involves both head (finance, time frames, budgets, process) and heart (dreams, aspiration, design, security). Help your clients fall in love with the home you are going to build by allowing them to visualise their future. Visual tools such as 3D renders and video walk-throughs can speak a thousand words. Showcase the standard and finish of previous homes you have built by using a Matterport 3D camera and accompanying software to create video walk-throughs.
And finally, keep a track record. Because you can’t manage what you don’t measure
If you want to get serious about improving your lead conversion and sales, it is well worth your time to study the number of enquiries coming in; where are the leads coming from and what happens to them?
Use this data to help you to understand:
- What’s working and what’s not working
- Where are the highest quality leads coming from?
- Which customer profile are you converting with the highest success?
Data can be tracked using Customer Relationship Management (CRM) software, a simple spreadsheet or a notebook. The data you track might include:
Contact details: Full name ¦ Phone number ¦ Email address
Lead origin: Lead source ¦ Time and date
Follow up details: Follow up contact time ¦ Preferred contact method ¦ Lead response to follow up
Further actions: Consultation booked ¦ House purchased ¦ Referred new customers
Customer insight: Buyer type (first home, investor, forever home) ¦ House design style ¦ Location
Tracking your enquiries, both won and lost, can help paint a picture that enables you to analyse your sales process and improve your bottom line. Consider:
- Number of total enquiries and lead source success rates
- How many leads resulted in a consultation?
- How many enquiries and consultations resulted in a house purchase?
- Did follow up speed affect consultation booking rate?
- How many referrals resulted in house purchases?
- Most popular house types/sizes/locations or customer profiles
Regularly reviewing this valuable data and putting your learnings into play will no doubt provide direction towards how you can best invest your time and resources.
Start tracking your enquires now
Download the Dahlsens Lead Tracking Spreadsheet: builders.dahlsens.com.au/leadtracker
Your success is our focus
Dahlsens can help you to market your business better. Visit builders.dahlsens.com.au/marketingplan for your free, downloadable Builder’s Marketing Guide.