Hey there Launcher, are you ready to take your real estate business to the next level? Text marketing is the way to go! With its high conversion rates and cost-effectiveness, it’s no wonder that almost 20% of real estate companies rely on SMS campaigns.
Here at Launch Control, we’re here to help by sharing tips and tricks for optimizing your text marketing campaigns.
Here are the top 5 reasons why you should consider using text marketing:
- High Open and Response Rates: Text messages have a 98% open rate and 45% response rate on average, compared to the 20% and 8% of email marketing channels, respectively. This means more visibility and higher engagement with your clients.
- Immediate: 95% of the time text messages are opened within 3 minutes of receiving them, making them perfect for time-sensitive offers in the fast-paced real estate industry.
- Convenient: 56% of people find texting the most convenient way to communicate, and since they always have their mobile device nearby, your messages are always within reach.
- Personalized and Relevant: Text messaging allows for personalized offers based on the recipient’s interests, improving your chances of closing the deal.
- Cost-effective: Text marketing campaigns are some of the most cost-effective around, with an average cost per text of $0.01-$0.05 per message. Compare that to the average cost-per-click of $2.37 for the real estate industry.
Given that text marketing works so well for re-engaging with older leads, using SMS messaging for prospects already in your CRM can be a great way to obtain competitor references and improve your own marketing strategy–all while saving money! It also allows you to get back in touch with prospects that may have gone cold.
Don’t take our word for it, Jake McKinney (a wholesale investor) has experienced the value of being a Launch Control customer. He’s seen first-hand how Launch Control’s SMS engagement scales and speeds up deal flow, generating 30-40 qualified leads per week for him, which translates to an added 2-3 deals per month. For the lowest cost per deal in the REI market, Jake re-optimizes his data and reignites conversations with leads in his CRM from direct mail and PPC.
“It’s more cost-effective than any of the other marketing channels we use.” – Jake McKinney
How to Re-engage with Leads from Other Marketing Channels
Of course, direct mail, pay-per-click (PPC), social media, and email marketing channels still have their place since texting on its own is not always best for sealing deals. But, now you’ve seen what kind of benefits text messaging offers over other marketing channels. But how can you use it to re-engage with leads that you’ve obtained from other marketing channels? Your CRM platform could have thousands of old leads that you’ve never texted before just waiting to be nurtured. And in the high-speed real estate world, it can be easy to overlook those that weren’t quite ready to make a purchase at the time. Prospecting efficiently is really important for both your effectivity and cost savings.
Launch Control Customer Success Manager, Mia, likes to call this kind of prospect mining “raising the dead,” pulling dead leads out of multiple channels to hit them up again and check their motivations. One great approach is reaching out to stalled email leads and following up with a warm call to get the conversation going.
86% of our top subscribers are mining their CRMs to generate deals. And, once they’ve integrated their CRM with Launch Control, customers start seeing a 24% increase in deals.
Consider the case of Solomon Sparks, a motivated real estate investor. He wanted to generate a high volume of leads for his team. By using Launch Control’s data-focused methods and easy integration with Podio (a well-known CRM for real estate investors), Solomon managed to send 25,000 messages each month through 8 accounts. He maintained a reliable delivery rate of 90% and a 14% response rate.
Here are some easy steps on how you can reach back out–without spending more–by using data you already own to reignite conversations and re-engage leads.
Step 1: Segment Your Leads
Before you start your text marketing campaign, it’s important to segment your leads. Keeping your KPIs separated will give you a better idea where your marketing efforts are going. Organizing your leads based on similar traits will help you craft individualized offers that suit the needs of each demographic, and will boost your conversion in the long run. People segment them differently depending on several factors.
Some common ways you could categorize your leads are:
- Previous interactions
- Last contact
- Price range
You may want to begin mining your CRM platform for old leads right away once you start your text messaging campaign. But taking the time to segment them out will help you be more strategic as you nurture the ones that you’ve gotten from other channels. The end result can be more relevant connections that ultimately turn into sales, so the investment will pay off.
Step 2: Create a Text Marketing Campaign
After you’ve segmented your leads, you can begin CRM mining by launching an insightful text marketing campaign. A good first step is to create a list of text messages that you’d like to send to your leads. Then develop each one by including all the information your prospect will need, such as:
- Property listings
- Shortcodes (a 5- or 6-digit number that the user can text with a keyword, and they’ll receive an automated response with any information they may need about the property)
- Open houses
- Special promotions
- Discounts and price reductions
- QR codes
- Status updates
Your text messages should be thorough and personalized enough to pique the recipient’s interest. But, they must still come in at under 160 characters if it’s an SMS message. Include the details they need, but remember to stay succinct.
Step 3: Send Text Messages at the Right Time
Here’s why timing is crucial when it comes to texting your leads:
- According to the Attentive Mobile Consumer Report, a whopping 58% of customers are happy to receive texts from their favorite brands multiple times per week! And 18% of them are even open to hearing from you every single day. Talk about eagerness!
- But hold on – before you start bombarding your leads with messages, remember that consistency is key. Shoot for 2-3 times a week to keep your brand top of mind without overwhelming your customers.
- It’s not just about how often you text, though – you also want to send your messages at the right time. Consider your leads’ schedules and lifestyles. Think about what times are most convenient for them.
Step 4: Remain Do Not Contact (DNC) Compliant
In a world where communication is key to business success, it’s important to ensure a seamless experience for both users and leads. Launch Control’s automated Do Not Contact (DNC) request feature significantly reduces the likelihood of inadvertently sending unwanted messages. When a lead responds with “STOP” to a text message, Launch Control’s intelligent system ensures that no further messages will be sent to that number.
By incorporating this cutting-edge technology, you can prioritize user experience and adhere to legal regulations, all while fostering a more effective and efficient communication process.
Launch Your Text Marketing Campaign Today
Here are some exciting reasons why you should use Launch Control for all your text message marketing needs:
- High response rates: Get your message seen and responded to by potential customers.
- Low cost of delivery: Save money while still reaching a wide audience.
- Re-engage old leads: Don’t let old leads go to waste! Keep them engaged and interested with relevant, personalized content.
- Segment your leads: Make sure you’re sending the right messages to the right people for maximum impact.
- TCPA-compliant: Stay compliant with regulations and avoid any legal issues.
- All-in-one messaging dashboard: Keep track of all your messages in one convenient place.
- Proprietary routing algorithm: Ensure your messages get delivered quickly and efficiently.
- Nurturing leads: Use Launch Control to nurture leads until they’re ready to convert.
Think about it: finding even 2 deals sitting in your current CRM represents a potential $50K in revenue without you spending another penny.
As the industry leader, Launch Control offers unmatched performance, accessibility, and revenue generation. We’re the most profitable marketing tool in the REI industry and we’d love to help you grow your business. So schedule a meeting to learn more or get started today! We look forward to hearing from you and helping you re-engage your old leads.