Once we realized my mistakes, we defined the role to be very specific and simple. From then on, the LCA's only job was to make phone calls. All admin duties were given back to the Agents which allowed the LCA's to make more phone calls.
Since January 2010, we have been running the LCA program with the LCA's contacting at least 15 people per day and usually leaving another 35-40 messages each day. It's been hard to really quantify, but while most brokerages I know have been declining in business, we have still managed to grow again in 2010. It isn't our usual 20% in transactions, but it looks like we will be about 15%-20% growth in profits. Think about it, with the LCA's contacting over 900 leads per month and leaving around 1700 messages or so, it would be almost impossible for our stats go up.
Fast forward to November 15, 2010. The LCA program is working fine, but it's just not accomplishing my goals that I had anticipated. I couldn't figure out how we could get the agents to make more calls...it's like pulling teeth sometimes. All I want is for them to be successful for themselves, and they don't want to do the work. It's very frustrating. During a seminar two weeks prior, I had talked about a phone call system as my Lead Conversion seminar in Orlando called MOJO. Two of the Agents attending had told me they loved the program. After hearing that, I quickly put back into my mind to take another look at the program. The year before I decided it wouldn't work well for us because of the way we were able to search leads. That's all changed now.
Since 11/15 we have implemented the MOJO phone call system to our 100MPH Markeitng system. It's been simply amazing. I don't have exact numbers in front of me as of today, but I can tell you that the two LCA's I have calling have used the system a total of around 20 hours since last Friday, the 15th and have called over 2000 leads and talked to approximately 200 people. We are averaging around 6-10 contacts per average. Prior to installing the system, we are contacting 2 people per hour.
I can't tell you exactly what the impact of this addition to our program is going to be, but I can tell you that based on just one week of calling, we are on to something very big. If all works out well, I won't have to get upset at Agents for not making their calls. There won't be any calls for Agents to make except the leads that are scheduled to come in to meet them. Is it possible to have this much control over marketing? Time will tell, but we are certainly getting close.
If you have been thinking about adding an LCA, give me a shout to talk about specifics. Have a great weekend!
Mitch
I've had an LCA for about a year now and I can tell you it makes a significant difference in our conversion ratios. On average, we're closing 3 buyers a month from our internet lead generation efforts (about 36 units a year with a value of $210,000 GCI). We don't do any PPC marketing -- all our leads come from long tail, organic SEO efforts and IDX registrations. I'd love to chat more about how to bring in more leads (we're averaging around 7 a day right now).
ReplyDeleteHey Joshua! Just give me a call when you would like to chat. I also do SEO, etc and get anywhere from 4-10 leads per day from it. However, my PPC is very predictable and I can basically generate as many leads per day that I want to, depending on what I would like to spend.
ReplyDeleteTo me the $$ cost is not relevant as long as I capture at 10% or better though all my efforts and convert at 4% or better. As long as I can do those numbers, I'm smart about buying my PPC and keep my lead acquisition at less than $10 then it will continue to be my major aspect of Internet Marketing.