How to Choose the Most Effective Lead Generation Channels

Transcript:

We're going to go through this list on page 21, selecting and implementing lead generation channels. I'm going to go through them one by one and I want you, as I'm going through them, to make comments on fit, impact, effectiveness, credibility, and cost for each of these. Some may not work for me, there is one that you guys do that goes to a target farm, I would push you into a print marketing. I don't do print, but it doesn't mean that there aren't certain print publications you could do with a targeted message.

The first thing is identifying a range of appropriate channels that fit your target market- how they live their daily lives and what types of channels might reach them. I do believe that re-targeting, and YouTube, and Facebook and some of the social platforms out there, that is how some people live. That is how people live, and we need to take advantage of it.

Next, evaluate each channel in terms of cost and coverage, keep the variables as consistent as possible. Evaluate each channel in terms of relevant subjective criteria including fit with your image, ability to use the channel effectively, impact on customers, its credibility and the level of connection it promotes.

I don't want everyone picking 8 different channels to go after in the next 6 months, because you will go broke doing that. When we test a radio, so when I added Bob & Sheri, I wasn't going to do anything else for a year. In the first month, I was like, "What happened on that call?" It cost $4,000, that one call, so I need to know what was said on that one call. So you definitely want to dial that in. It's always about going deep with these strategies, not wide.

My next consideration is with the Barbara Corcoran endorsement. If I should do network morning. It's awful being on cable. How many of you are watching commercials during Shark Tank re-runs? But I had 3 guys in my gym come up to me after I started digital farming come up to me and say they saw my commercial. I had only spent $300 in 3 weeks doing that.

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You don't always have to understand these things. There's a level of understanding in marketing that you need to deal with. You need to own the fact that there is no one else that's going to come into your company and become your marketing expert. If you want to have a real impact in your market, you need to master this stuff.

Determine your budget. You need to have 6-12 months of expecting not a whole lot of return on some of this stuff. A good example for me was farming this year. I don't think I have the patience for it. I told myself that yeah, it's going to be great to not make a single dime in a year, then year 2 will be better, and I'll be really loving this at year 7 or 8 when it's like a 25x return. Do you know how much it sucks to lose $9,000 a month for 9 months in a row and be like, "Yeah, but this was the plan"? So really think about when you're going to break even and be committed to it and have $100,000 in that case.

Question: Talking about farming. Do you think you could get the same effect from farming on Facebook or online with that popping up as opposed to a postcard every month? It would be a lot cheaper, and you could still show up in front of the same people.

100%, that's exactly what I'm talking to, but it comes from the same sort of messaging. If you want to deal in Ballantyne, I don't know if there's a way where you can do that on Facebook, but you could say find out the 7 things you don't know that you should know if you're selling a Ballantyne home.

Some of the things Frank has me doing, he says a lot of people when they scroll through video, they don't actually click on the video. So you're standing there holding signs and you're like "First time buyer?" Just things that you don't see, I think it becomes pretty fun.