15 Sep Do You Nurture Your Old Leads?

Typical leads for builders convert to sales within 45 days, but some prospective buyers don’t make a decision in that time frame. Do you dismiss them or continue to nurture them? Is it worth it to have a long-term follow up strategy?

Builder Online recently shared some tips from industry expert Mike Lyon. Here are the key points in handling these prospects.

Remember that there is still incremental value in the prospects who are hesitating–you just have to know how to cultivate them.  What if a major life change occurred that prevented them from buying? If you take the time to maintain a connection with them they will eventually take action and guess who’s name will be top of mind?

Consider using a newsletter or eBlast to stay in touch – potential customers do read them if they contain timely, relevant information that they view as valuable. Do not make this simple sales pitches! Help them learn about the home buying process and other topics that relate to their needs.

Go back through your old leads and send a quick text-based email with a little personalization. Ask them how to best follow up with them and to send a quick reply if their situation has changed.

You may not want to hear this, but email response rates increase 30 percent if you follow up with an email and a phone call. You can especially learn a lot in one phone call about why a person hasn’t moved forward on the purchase of a home. It’s easier to overcome objections when you know what they are!

Don’t give up on your leads after 45 days. If you manage them properly it will pay off. I love Builder Online’s analogy:

Treat older leads more like fine wine that should be savored than moldy cheese that should be tossed.

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