|FloorPop||FloorPop (Flôr-pop) n. 1. The homebuyer who visits a Builder's community and writes a contract for sale the same day. 2. The sound made by a salesperson clicking their heels high in the air and returning to the floor after a prospect signs a contract the day they first meet.|
Welcome Readers to the new format for FloorPop! Each month, we will select one or two related articles to share with you from various authors. We also have a few select industry articles that are worth reading. Finally, if you have any feedback please let us know by emailing me at firstname.lastname@example.org or you can let us know what you think of the article by taking our article poll.
So, your traffic is a little off. What can you do about it? Two month's ago I shared advice from some of America's top sales training trainers (http://www.floorpop.com/Floorpop080206.html). This month is all about building traffic and be-backs. Not things your marketing department should be doing online or in print, but what you, as an on-site agent or as a sales manager, can do to improve qualified traffic to your communities. Last month, Zach Pruitt, a community consultant for Pulte Homes in Chicago, asked just that. What can he do to build traffic into his community? Thanks for the article suggestion Zach.
In order to be successful, you need to focus on what is within your immediate control. Unfortunately, in today's world too much attention is focused on the market, and in doing so, we lose focus on what is within our control.
We all know the market has been strong for a long time, but is today's market a bad market? Bob Schultz, of The New Home Specialists, put it this way, "If your market was hot and that is say 100%, and it's dropped by 25% or 30%, the 70% that is left is the new 100%." Schultz believes your conversion ratios today should be equal to or even better than before, because the people that are coming out are, in some instances, far more interested. He sees the housing bubble as a bit of a myth (see "Bursting the Housing Bubble Myth"). Regardless, your traffic is off by let's say 30%. If you had 10 prospects per week and a conversion rate of 10%, now you have only 7 prospects. What are you personally going to do to maintain a sales rate of 1 sale per week?
It appears you only have two options: (1) Improve your conversion rate so that 7 prospects will lead to one sale, or (2) find 3 more traffic units. Here is Schultz's practical advice for excelling in this more challenging market.
It's pretty straight forward just improve your presentation and your follow-up. But in the end, it all comes down to your execution. If you do this well, your be-backs and conversions should rise dramatically. Your Buyers, Your Prospects, Your Realtors - Turning Up Your Conversion For a different view on the question I spoke with Jason Forest, President of Shore Select. It's the same problem. You either have to improve your conversion or your traffic. What's the best way to do this?
Here's Forest's prescription:
Now you have some suggestions for improving your conversions, traffic, and be-backs. However, you are likely to have another cache of untapped opportunities. If you are like many of the builders we work with, you have tons of leads from the Internet. What to Do with All Those Pesky Internet Leads So, what can you do with all those, in some cases older, Internet leads? I spoke with Meredith Oliver, President of Creating Wow, to get her suggestions for leveraging this asset. Oliver came up with what might be the shot in the arm your marketing efforts need:
So, what can you expect from this effort? It's hard to predict. It depends upon the source of the original lead, how old the lead is, the value of our call-to-action, and your market. Here's how Oliver would set an expectation for results:
Will it work? I think the better question is, "Are 6 more sales worth the little bit of effort it will take?" I would be glad to show you how the HotOn! Focus Marketing System and our marketing support department can make it easy.
Everyone has heard relentless talk of a housing bubble recently. Financial "evangelists" are all over TV, newspapers and business magazines warning of what's to come, and the hype has contributed to a very confused marketplace. Bob Schultz shares his wisdom on the 6 things that drove our hot markets and how these factors look today. You can read it here.
Technology etiquette is sometimes referred to as netiquette and is defined as communicating effectively with others in a non-offensive manner. Meredith Oliver shares her practical tips for being a polite technology user. You can read it here.
Blair Kuhnen is the publisher of FloorPop. He can be reached at 817-658-7698 or via email at email@example.com.