It's been 1 month since our LEC went live

jessiesc · 07-06-2009, 10:42 AM

I thought I would offer a testimonial for the productivity of the LEC's:

We went live with our LEC on June 6th. A month has gone by and I've been reviewing numbers and watching very closely how the new site is performing.

Many of you know, that I keep fairly meticulous records and statistics of how our site performs. That being said, without revealing actual numbers, I will say overall ALL our numbers have increased across the board:

More visitors
More valid contacts
More conversions to contract

Granted, we are in our busy season, and the numbers may be skewed slightly due to this, but they do reflect actual numbers.

As promised, here are our results after 1 month:

Traffic

Visitor Traffic - Up 11.77%
Pageviews - up 65.38%
Avg Time on Site - down 5.52%
Bounce Rate - down 53.98% (This is a very good thing!)

Conversion Rates

Unique Visitor to Registration - 19.37% (forced registration)
Registration to Contact (working with the team) - 10%
Contact to Contract - 15% for the month

We're very excited about these numbers.

While our market is still heavily moving short sales and foreclosures which take months to close, we expect the contact to contract percentage to actually increase significantly!

Way to go REW! You guys rock the RE world.

RESteve · 07-06-2009, 11:26 AM

Those are great numbers, Jesse! Your conversion rates are fantastic - you guys must have some really great systems in place to convert those leads.

Why do you think your average time on the site when down?

jessiesc · 07-06-2009, 11:48 AM

Thanks Steve.

Yes pretty impressive.

Quote:

Originally Posted by RESteve

Why do you think your average time on the site when down?

It actually only went down a few seconds per visit. As near as I can figure it, perhaps due to us contacting them so quickly or they are finding things much easier (which I believe to be true based on feed back from various visitors).

Other then that, I have no clue. I'm going to watch this stat over the next few weeks.

rvolk75 · 07-06-2009, 08:46 PM

Very impressive numbers indeed. I really like your visitor to lead ratio. Almost 20%... that's great!

Quick question. What do you consider a "contact"? I see you have a lead to contact conversion. Is that when someone you or your team member talks to? Or is it someone who comes to the office to talk about their needs? Or is it someone you or your team members show a house to? All of the above?

jessiesc · 06:36 AM

Quote:

Originally Posted by rvolk75

What do you consider a "contact"? I see you have a lead to contact conversion. Is that when someone you or your team member talks to? Or is it someone who comes to the office to talk about their needs? Or is it someone you or your team members show a house to? All of the above?

Good question...

I classify conversion with seven stages:

Lead to site
Site to Registration
Registration to Contact by Agent
Agent to Meeting
Meeting to showing
Showing to contract
Contract to close

The Registration to Contact is #5 above.

I classify conversion this way for several reasons, one of which is prior to showing (and sometimes at #5), the lead goes away for various reasons. All stages prior to #4 are either email or by voice.

However, more often then not if the agent can meet with the customer, we're usually sure there will be a positive outcome (a contract) so stage 4 is still very important.

Stage 4 is also the final qualifying stage in my opinion since some leads will go so far as to meet an agent but are still only "looking". We believe this occurs because of our tourism market. Many "think" they want to buy, but not all do various reasons.

At stage 4 the agent has enough information directly from the lead to identify if the agent is wasting their time or not.

RESteve · 07-07-2009, 09:18 AM

I've always felt that meeting with the client prior to showings is the key - you don't want to waste your time showing unapproved buyers, and they have to adhere to your process (rather than just being reactive and showing a property at the drop of a pin).

Question: How does your team set appointments when the leads you receive are from out of town? Setting an appointment with a local lead is pretty obvious - they just drive to the office.

What about when they are out of town? Do you guys have an online meeting first?

jessiesc · 07-07-2009, 09:29 AM

Quote:

Originally Posted by RESteve

What about when they are out of town? Do you guys have an online meeting first?

No, we wait until they come to town.

TheyCanSeeYou · 07-12-2009, 02:05 AM

Hi jessiec,

Thanks for the impressive productivity report. It shows you really mean business. The site itself has an extremely clean layout and color scheme and is easy to navigate. I'm not in the market but I'm always curious what realtor sites look like. Most of the sites are behemoths, taking 10 more seconds than I care to spare, and are like the double seat carts you see the mom's at the grocery store trying to wrangle. I can see myself being much more productive by creating a similar seven stages. Thanks.

Em

bnicolas · 07-19-2009, 11:54 PM

Jennifer, really like some of the content things you've incorporated into the site, and more impressed with what your doing with your lead gen tracking and management, I have a long way to go in that area, how many total registrations have you had since you've been live?

jessiesc · 07-23-2009, 09:42 PM

Just a quick update:

Bounce rate now down 60.62%!

Absolutely amazing.

Quote:

how many total registrations have you had since you've been live?

Pm'd

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