What does ROI on PPC look like for REW sites

I wrote a blog post based on some recent case studies / success stories that were shared. Here is the link: https://www.realestatewebmasters.com/blog/how-much-not-having-website-is-costing-you-2020-edition/

Since then others have reached out an shared their numbers. Some equally as good, and some claiming that even though their CPL is good to great, that their conversions (lead to sale) are not as good.

If everyone has the same quality / source of leads, is this is a follow up / agent problem? Or could there truly be a discrepansy in the “quality” of leads from one market or campaign to the next? (Note those making this claim get the same or similar volume of traffic from the same or similar keywords.)

Let’s discuss.

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We have only been on your PPC plan for 2-3m, and so far nothing is working for us. Just under 200 leads, but 90% of those leads contain wrong numbers, casually searching, not interested, already work with an agent. The left overs, their timeframe hover around 6-12m.

So I am trying to figure out why we are not able to convert these leads to closed sales, even though a few have express strong desires to buy!!

Very frustrated at the moment.

Andrew:

It’s important to dissect these numbers a bit more: Surely 90% of the leads are not bad phone numbers (it sounds as though you are lumping all of those items “bad phone numbers” “casually searching” “not interested” “6-12 months” etc) all into one bucket. That won’t serve you well. You need the data. For instance I run my wife’s campaign and I would say actually 90%+ of our leads have good phone numbers BUT we do get a lot of the same objections “just looking, long time frame, etc”

There are lots of things to say about this but here is a bit of insight:

#1: On timeframes: This is often true. You can sometimes get a lead that is “right now” but many are of the nurture category and you need to put them on a drip and action plan. The deals don’t always come in the first couple of months, you’re creating a database and these leads you should be working actively and passively over years.

2: Expectations: In your first year if you work them all property your target is really only 1-2% of the gross (because again you’re right, most won’t engage). So if you’re averaging 100 leads a month on a 12 month cycle that will be 12 deals.

3: Working leads consistently: This is the big one. Everyone gives up after 1 text, 2 calls and setting an email drip. This is not the way to conversion. You need to have great notes and track when you’re not having success so you can call / text at different times. In 2-3 months at 200 leads you should at least have good notes on many of those leads in terms of where they are in the buying cycle, if they are pre-approved, have key dates added to CRM etc

4: Our job is sales: “Casually looking” and “longer timeframe” are often objections to handle. Many folks will start looking earlier if we use our skills to talk about market conditions and not missing the best deals. As for being non committal, what consumer isn’t when approached by a sales person. When you want to buy a car, and a sales person approaches you, what do you do? “Sorry just looking” (until you find one you like then you will go get them) - being great at telesales means engaging past the objection.

Sorry you’re frustrated but it sounds like the leads are there, and leads are gold. You just need the right expectations and time block / process to close them.

Let me thank you for the quick reply.

I’m just the guy behind the screens trying to get some traction, the principles are kinda hands off. For them the well is drying up quickly with no return.

Having worked direct marketing as the DB processor, I understand the numbers from #2. From your #3, yes my team is falling in that trap. Which I personally feel is the & my main source of contention, between their expectation of closing quickly (agents state, they are not quality leads) and the principals expectations. Of their heavy investments and very little return in the 2yrs the company has started.
I know that a lead conversion takes 45-90days to closed providing all boxes are ticked, and ready. And even longer if the leads need coaching on all the step along the way, e.g. not per-approved or just doesn’t understand the buying/selling process.

So I looked into your backend (thanks for the DM) and it’s pretty obvious what the problem is. Either the agents haven’t been trained to use the system or the agents aren’t using the system (likely both).

Do a generic super admin search and you have 595 Leads. Search for leads who have been called less than 2 times and you get 517. So basically only 78 Leads have been called more than once (out of 595) that’s 13%

This is why we have a CRM, not only so they can log and track etc, but so as admins we can identify coaching opportunities and call bullshit on the agents that would rather complain about good leads than work them.

It starts with training and accountability. Get them to commit to 90 days of a true follow up plan. They will get used to it and then they will start seeing results. Right now your agents aren’t working the leads and so it’s not surprising they are not doing any deals off of them.

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I really appreciate that you took the time to review us, agreed training is paramount. With that said, do you guys provide training for the new CRM update?

We are creating videos for the new features @lisamoore will be posting those. Also you can always ask best practices question here on the forums, and if you are ever stuck you can email support or call them :slight_smile:

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Amazing blog Morgan… So excited to be on board with REW. Can’t wait to have my website ready.