PropTv Ep.2 Scaling Enquiry With Limited Budget

Video Transcript

Nik

Welcome to the Garden! Today, I’m here with Jake. We’re going to be talking about another fun topic for developers, which is scaling inquiry without spending extra money. So Jake, we know there’s a number of clients out there that have multiple projects in particular location.

What’s the typical approach for us when clients come to us with opportunities like that where they’ve got limited budget to spend?

Jake

Yeah, so where there’s down markets, so where there’s not the demand, you really want to make every dollar work as hard as two. By looking at things, you can ask the prospects to match them to any of your communities or estates or apartments that are coming up, rather than just always doing kind of that enquiry with just a focus on that single development or site.

So by asking what the price points are, what type of offering they’re looking for, bedrooms, lot sizes, all of these types of things, kind of arms you with that ammunition and that information to match them to other relevant products that you have.

Nik

Yeah! So I guess that key is doing that qualification piece early rather than waiting for the sales team to do it. Once you’ve got that information, what would you do with it?

Jake

Yeah! So, using marketing automation, we can create logic that is, rule A, if this person is looking for this lot size within this budget then we can make recommendations for other ones and potentially have almost, tease across opportunities.

We obviously don’t want to take leads from one sales agent and give them to another and cannibalise anything. But where people are in markets that they’re going be searching around, they’re going be looking at competitors for a range of different things, you’ve got to be serving your other options, and it’s most cost-effective to do that through email rather than paying for that enquiry through digital advertising again and again.

Nik

Yeah. It makes a lot of sense. So, are you really seeing that particularly in any  type of market. Like does it work well in a hot market and a cold market?

Jake

Yeah, it’s going to work across the board because you’re going to get more value out of it. But it’s most applicable for like the WA and the Perth market in the market at the moment, is where we’re seeing like the downward trends that slowly starting to increase.

People are really shopping around and looking at all their options. So having that presence through automation to continue to talk to them and serving them perhaps other options where they’re in that early stages, and they haven’t go this far as appointments and details like that makes them a really qualified lead for the sales team, or if they’ve gone cold – that can be a great opportunity to kind of tease them with new content and see if they’re going to pick up on another estate.

Nik

Yeah. It make sense. I think you touched on an interesting point because I know this one would come up, which is, how do you handle the lead ownership piece. Do you want to expand it a little bit further?

Jake

So it’s definitely always the priority if someone enquires on a site, then it’s going stay with that site until that leads had it’s time. So its gone through the sale process, engaged with the sales team, gone onsite, but eventually there’s going to be a number of leads that go to clothes lost.

Rather than just having them kind of becoming dead fodder and essentially media spend that you’re not going to get back, setting up in a way that you can utilise it and then potentially give them additional sales opportunities through other range.