#3. Count Your Consumer Touchpoints
Expecting people to buy a condo on their first visit to a sales office is like proposing marriage on a first date and expecting the person to say yes. Only 1% of people who walk into a sales office will make that big purchase commitment in the first visit - which means 99% of the time your potential buyers are slipping away. They come in, hear a pitch and then they leave. So the sales process cannot end there.
Studies have shown that it takes between 6 and 17 touch points to convert a prospect into a buyer, depending on market conditions. Up to 17 touch points!
Here is how you can create an effective touchpoint plan:
Begin by creating an actual plan that covers off at least 17 different ways that a potential buyer's interest can be maintained. Reaching out can take on a variety of different forms including ads, website, phone calls, emails, return visits and so forth. Make sure they are numerous and use a variety of different methods to keep the momentum going. Also write the plan down and ask salespeople to use it as part of their toolkit to keep track of how they are staying in touch with their leads.
Do not worry about annoying people. Unfortunately generating multiple touch points can feel a bit like Chinese water torture - dripping tiny drops of water on a person's face over and over until they surrender. It sounds irritating however it is also effective. I can't tell you how many times clients have called me back, commenting on how much they liked seeing my company apply the same advice that we suggest to them.
As mentioned earlier, trackable technologies would allow you to discover serious buyers and send them to your sales team quickly. We suggest contacting leads within four hours to hit them at the height of interest. Tactics like this are potentially botersome to casual browsers, but serious buyers will appreciate the attention and factor it into their purchase decision.
We have experienced an 80% success rate using these hands-on methods. As an example, if someone visits the office they will receive a thank you call and a follow up card, along with email updates about the property to build excitment, build a relationship, generate awareness and turn interested browsers into serious buyers. As a result of these tactics we close on nearly 20% of sales prospects that come back for a second visit.
When creating your touchpoint plan, think of unconventional ways to reach your audience. We have used contests that offered a chance to win a free condo (entry level studio suite), free stainless steel appliances and other approaches to generate highly qualified leads - and sell buildings out in record time.
Another strategy is to give each of your salespeople a list of ten top brokers in the area and ask them to call them once a week. By adding touchpoints to your plan your company and project can stay top of mind with brokers in the area, and make valuable inroads with key players who can help you sell your projects.
One last touchpoint idea is to compress all of your planned marketing, what you would normally do over say 6 to 12 months, into a matter of weeks. You can create a sense of urgency and real frenzy through this approach - draw people in for a world-class marketing launch party, feature trips or giveaways and sell your project out faster than you ever thought possible!