First, I’d like to thank all of you who took time out of your busy day to join me on yesterday’s webinar. Based on your phone calls and emails, I’d say it was a success. We covered a lot and based on the questions during the Q&A session, I have some of the sharpest agents among my readers.
“Hi Matt! I had trouble getting on the call. is it recorded?” — Jean
“Matt, Excellent presentation, however I had to leave at 11:40 your time, so missed much of the walk through. Please repeat soon!” — Art
“Matt, Please have another training call.” — Boodie
“Matt, I would be interested if you do another one and I will MAKE the time to be on the call. Sorry I missed it! When I was free it was over.” — Blake
“I hope you hold another Matt. Couldn’t listen in today because of the snow storm in Atlanta. Took hours to get back to the office. Thanks as always for your professionalism.” — Ira
And there were many more…
I’d also like to apologize for the short notice I gave you. We got the idea for the webinar in our customer service meeting on Friday, on Monday morning we announced it, and on Tuesday morning we had the webinar. Still, I was amazed that we had over 150 register and over 100 attend.
Besides all of those who just couldn’t make it because of a scheduling conflict and no time to work it out, I also heard from some who just couldn’t get into the webinar conference line even though they tried. Apparently we overloaded the conference line.
So based on the outpouring of calls and emails, I’ve decided to do it again next Tuesday. I also forgot to turn the record switch on so we don’t have a recording that I can share so we’ll just call yesterday’s webinar the “dress rehearsal”. That’ll give you guys a week’s notice as well.
Here’s What I Covered
(and will cover again next Tuesday)
The topic was how exactly I do my online marketing. I started out by surprising everyone, I think. Instead of jumping into the nuances of my website, I started with my marketing philosophy. I explained that until you understood the underlying philosophy, you couldn’t really understand the tools and techniques.
I shared that of the thousands of agents I’ve had the privilege of meeting over the last decade, the vast majority were unhappy with the results of their marketing efforts and were largely unsuccessful in seeing a return on their advertising investments. Almost all were, in my opinion, making one of two mistakes.
Mistake One — The Shotgun Approach. These agents are throwing way too much money at all manner of marketing ideas in a near frantic attempt to generate business. They rarely have any mechanism to track the results other than “Do they have closings and money in the bank?” As long as they continue to have a steady stream of revenue, they stay with this shotgun approach and hope it doesn’t stop working.
Inevitably they hit a slow spot and it all comes crashing down. Maybe a few closings in a row fall apart. Maybe a family member needs their care and they have to put their career on hold for a season. Maybe it is just bad time management. Whatever the reason, most agents using the shotgun approach reach a point where the wheels fall off the wagon, so to speak. That generally leads them to the other mistake.
Mistake Two — The Miser Approach. These agents are generally broke. They don’t have the money to spend on expensive magazine ads, TV or radio spots, billboards, direct mail, and such. Instead they turn to the “free” or “nearly free” marketing ideas like sphere of influence marketing, open houses and the like.
The problem with those free marketing ideas is that they are the most costly of all. They are very expensive in both time and erosion of your brand. Let’s say you want to make $100,000 this year. That means your time is worth $50 per hour. ($100,000 / 50 weeks = $2,000 per week / 40 hours per week = $50 per hour.)
If you use the “free” marketing you will spend all your productive time in exchange for a few leads, many of which will never turn into closings. You will be constantly frustrated and worried about whether you’ll have enough business to pay your bills. And that worry will make you act in a way that will actually chase away much of what little business you find.
The Solution — A Planned Marketing Strategy. Instead of being at the mercy of whatever business comes in — riding in the passenger seat — my philosophy is that you should be the driver. You should make your marketing decisions based on that philosophy and not be a victim of whatever luck comes your way.
To do that you must first have a business plan. That plan will not only set your income goal, but it will tell you precisely how many leads you need to generate in order to accomplish that goal. If you have no clue what you need in terms of sales leads, you will likely be a victim of mistake one or mistake two, depending on how much money you have.
I proceeded to walk our attendees through a very quick business plan using this simple calculator on my website. The free calculator will save you hours, if not days, of crunching numbers to determine exactly what you need to meet your personal financial goals. Try it out!
Most agents have no clue how many leads they need and so they either generate far too many and waste leads and money, or not enough and then wonder why they can’t get out of their rut and begin to start making money. It’s because they don’t have a planned marketing strategy.
If you want to catch a lot of fish, you need to go where the fish are. You could spend days fishing in my swimming pool and never catch a fish, even if you are the best fisherman in the world. You could invest thousands of dollars in the latest fishing gear, but if you are fishing in my pool, you are wasting your money. There are no fish.
Today over 94% of all real estate shoppers are starting online. If you are trying to find them offline you may as well be fishing in my swimming pool. You have to go where the fish are. But that begs the question: “Well Matt, I have a website — actually I have three. If the customers are online, why am I not getting any business from my websites?”
The truth? Most likely, it’s your websites. Most are not designed to capture customers. We talked at length about websites and I showed them exactly how my Ultimate Website captures customers, though the LCM gateway technology and the social media integration. Most were surprised and amazed.
From there I took everyone through a guided tour of my website and explained why it is set up like it is, and why certain seemingly unimportant things were so very important when it comes to generating business from the internet — the very things our coaching staff and I help agents with every day.
At the end of the webinar we had a question and answer session that lasted until there were no more questions. A few people had to get off the call as it ran long but the vast majority stayed until everyone’s questions were answered. And there were some really great questions. I really do have some of the sharpest readers in real estate.