Tip: Lead Funnels Increase Closing Ratio

How to use your website as an online lead funnel

Your lead funnel should support an infinite number of leads from an infinite number of sources. Your system should process 1000 leads a month as easily as 100 leads a month.

You're in the lead generation business, not the apartment locating business.

Without leases, it doesn't matter how smoothly the rest of your organization functions. Start by building an automated and predictable lead funnel that increases your closing ratio by nurturing every lead that comes through your website. The core of your lead funnel will be your drip email autoresponder. Then schedule a certain amount of hours each day on Income Producing Activities (IPA's) to add as many leads as possible to that funnel.

Focusing on tasks you can control every day will help you engineer revenue that is predictable. Construction rates, commission rates, and average rental rates are beyond your control. However, average invoice amount and closing ratio are completely within your control, based on where you market your service and your ability to convert online leads to customers.

If your ideal customer is looking for a $1,000+ one bedroom apartment, where do those customers hang out online? If your current closing ratio for online leads is 1 in 10, use your lead funnel to increase that number to 2 in 10 and you've instantly doubled your revenue.

When you calculate your average invoice by your closing ratio, the number of leads you need to generate each week becomes a mathematical formula. Generating leads is less stressful when you remove the emotion and look at it like a number. Your lead funnel will take time to produce measurable results, but the investment is well worth it. The automation will give you more time during the week, and it will show you exactly where to focus your marketing efforts. You will see which emails get the best response and ultimately increase your conversion rate by simply modifying your emails.

SAMPLE LEAD FUNNEL WITH 1 IN 10 CLOSING RATIO

Revenue Average
Invoice
Monthly Closed
Invoices
Closing Ratio Leads Needed
Per Month
Leads Needed
Per Week
$100,000/$8,333 $600 14 1 in 10 140 35
$100,000/$8,333 $700 12 1 in 10 120 30
$100,000/$8,333 $800 11 1 in 10 110 28
$100,000/$8,333 $900 10 1 in 10 100 25
$100,000/$8,333 $1,000 9 1 in 10 90 23
$100,000/$8,333 $1,100 8 1 in 10 80 20

SAMPLE LEAD FUNNEL WITH 2 IN 10 CLOSING RATIO

Revenue Average
Invoice
Monthly Closed
Invoices
Closing Ratio Leads Needed
Per Month
Leads Needed
Per Week
$100,000/$8,333 $600 14 2 in 10 70 18
$100,000/$8,333 $700 12 2 in 10 60 15
$100,000/$8,333 $800 11 2 in 10 55 14
$100,000/$8,333 $900 10 2 in 10 50 13
$100,000/$8,333 $1,000 9 2 in 10 45 11
$100,000/$8,333 $1,100 8 2 in 10 40 10

 

Add prospects to your lead funnel, and rely on your system to nurture the leads.

Written by Jodi Southwick

Jodi is the CEO of Rental Advisors. She is the creator of the Apartment IDX, and the Founder & President of the National Association of Apartment Locators.

Website: https://rentaladvisors.info