Follow Up Boss tip: Using response rate to evaluate lead sources

As you grow your real estate team, adding more lead sources to help drive more deals for your team becomes a big part of your success. The challenge though is that testing new lead sources isn’t an easy endeavor because you often need to pay for that lead source for as many as 18+ months before you can get a real sense of the potential ROI from it.

That’s where looking at leading indicators (like response rate) can help you see if a lead source is going to produce conversions for you a whole lot faster because if you can start a conversation with the lead, there’s a much higher chance you’ll be able to turn them into a client down the line.

Bonus tip: You can also use the response rate feature to find opportunities to help your team bring home more deals.

As an example, one team we work with noticed that one of their agents was getting triple the response rate that other agents on the team were. Through the response rate report they quickly saw that it was texting that was making the biggest difference for her.

So they looked closer at the leads that were responding, so they could see how she was using the texting feature to get these amazing results. They noticed there were a few things she was doing consistently that seemed to be making the difference, turned those actions into a playbook for the rest of the team, and over the following weeks the whole team tripled their response rates!

Want to know what she was doing?

1. Following every phone call with a text
2. Asking a simple question in every text
3. Adding a personal element to the text based on what they were looking at on the site or which lead source they came from

Do you have a pro-tip for how you’re using a part of Follow Up Boss to close more deals? Just click here to tell me your tip and we might feature you in an upcoming tip post (and send you some of our A+ swag if we do)!

‍