Real Estate Investing
Can you guess how to drive down the cost per real estate lead & sale?
when I watch people work in their business vs. on their business it makes me think of the time they Invest into lead generation, selling, closing and fulfillment.
I think we would all agree that the internet and tech has allowed us to scale and optimize our fulfillment through video, conference calls, live videos, zoom, and members areas.
We can now train many people at once and provide value through these mediums via technology.
For example if you had a members area of 365 who each pay only $115 per month for one year, you would make over $500,000 per year and manage the fulfillment via video and conference calls, etc.
Real Estate Investing
Time leverage
This is a very leveraged use of your time. $500,000 a year can be great and you may ask what the cost of the leads are, or how many followers, how many likes, impressions, or views you are getting before the sale.
All of these vanity metrics have a little meeting, but not much. You can’t too distracted by cheap leads or expensive leads.
What matters is the cost per sale, and what matters even more is if you have created a funnel or machine that continuously optimized to drive down the cost of the sale as well as cycles quickly when possible and is reinvested.
There are many things that help with the sale from follow up, a sales team, a closer, phone calls, webinars, videos, meetings, seminars, direct mail follow up, blogging, podcasts, social proof, branding, influence, and so much more.
While focusing on driving down the cost of sale you’ll want to max out the lifetime value of a client. Study what is most efficient and most effective. Efficient saves time, effective converts and saves time.
Joining forces and collaborating with others in your industry may help you leverage your audience and theirs.
Real Estate Investing
Focus on daily processes
Focus on daily processes and systems with optimizing for lower cost sales. If one lead source is expensive, but it converts well and fast it may cost way less per sale vs cheap drawn out processes.
Stay tuned to future articles as we will continue to follow this topic in greater detail.
Thanks,
Ron Orr
