In your agency, how normal would it be for you to focus on just contacting the latest prospects you’ve seen? For most agents, it’s pretty common. It can be hard to gauge who’s most likely to convert.
Sometimes, you’ll spend days chasing prospects and find them all as cold as ice, and other days; you’ll call a prospect from months ago by chance and find they are ready to instruct! If only they instructed one after the other, based on when you met them.
Unfortunately, life isn’t like that!
Because even the best agent isn’t a mind reader, there’s a better way…Lead scoring.
What is lead scoring?
With lead scoring, each prospect is assigned a number that indicates their likeliness to instruct. It can precisely predict who’s likely to instruct based on their specific activity and engagement.
Why does it work?
Combined with those natural selling instincts and gut feelings, a proper algorithmically generated lead score gives you a ranked table of the clients most likely to instruct so you can allocate effort more effectively.
The proven benefits of lead scoring for estate agents
1. You can enhance conversion rates without using additional sales time or team members
Did you know companies who use lead scoring regularly see a 77% higher lead generation ROI than their non-lead-scoring counterparts?
Lead scoring empowers estate agents to prioritise high-quality prospects. By gauging a prospect’s readiness to instruct, whether they are primed and ready to sign an agency agreement or are still in the exploratory phase, lead scoring enables you to tailor an approach to their unique needs.
This enhances conversion rates without any additional sales time or resources needed. You leave the unlikely clients who haven’t opened any emails or read your content and enter them into different activity streams, clearing the deck to focus on the day ahead.
Even if you saw them yesterday and they seemed a good fit, you might focus on a client from a three-week-old appointment who’s suddenly reading your terms of business.
2. Improved efficiency in your agency
A staggering 70% of lost leads stem from inadequate follow-up practices—a glaring inefficiency in the sales process that even the best agents can suffer from.
You work only on the most promising opportunities by using lead prioritisation and nurturing processes. This naturally leads to a more agile operation without the dead time of chasing calls and texts. Instead of ploughing through a list of maybes and soon-to-be no’s, you can get on with the warm and red hot leads.
3. You’ll know what content works best
68% of marketers counted lead scoring as a ‘top contributor’ to their revenue.
Why? It delivers insights. Does your presentation work? Do your proposals create instructions? The data will start to reveal trends. With it in place, you can see what your strongest content pieces are when it comes to delivering the hottest leads.
4. You can focus on nurturing
Nurturing medium-commitment leads is a great strategy, but often, we can get stuck on the prospects at the top of the funnel. Lead scoring turns this on its head, allowing you to make an approach based only on the likelihood of conversation.
That being said, it doesn’t mean the rest of your database is dead. Far from it. With lead scoring at the front of your approach, you’ll naturally want to enhance how you nurture the clients who just need more engagement and a little nudge. Perhaps they need to be entered into a compelling market update journey, or you can use your resources to pinpoint what they need to hear and deliver it. With so much extra free time, the choice is now yours…