Many of you have heard me tout the advantages of capturing and converting leads. There are other great benefits to building a large database of home buyers and sellers.
Of course, as you know, the best way to build your database is excellent lead capture through your website.
Over the past 4 years, we have built our database to 18,000 active home buyers and sellers, mostly buyers. At last check we were just under 18,500 leads in our system. With that said, a funny thing has been happening lately; many people have been contacting me to advertise on my site.
Since we have over 55,000 people on our site monthly, and more than 13,000 of them are from out of state, we are quickly becoming the only local company that carries such a large database of consumers moving to the area.
This was one of those things that make you go hmmmmm.
So let’s look at two potential opportunities you can create by building a large database.
We have developed a guide called “Tropical Realty Tidbits Guide”. It contains almost 40 pages of facts and useful information about our area in Brevard County Florida. That’s 40 pages or more of potential advertisers. Where there are thousands of monthly visits and a large database, there are businesses wanting access to those consumers.
Our goal at this point is to sell 100 ads in the guide at around $1200 per year per ad. We also give our advertisers the opportunity to pay on a monthly basis for $150 per month. I can’t tell you that this is successful yet as we are just starting to build this portion of the business.
We are also developing a Dining Guide within the Tidbits Guide. For a small fee, we will list their restaurants in our guide. As we grow this guide, we will be developing other niches to market our advertising product.
Now I know that many of you are saying you don’t have any desire to build a magazine. Keep in mind that our guide is online (just a link to a PDF file) although we do print out a substantial amount to give our customers whom we show property. (It’s a great tool that our customers love and keep)
The reality is that we are hiring a person to sell the advertising. I have no desire or interest in building a publication, but if it offsets my marketing costs, I’m all for it. My goal for this year is to generate an additional $65k in advertising profits, about 50% of my current ad budget.
Local Business Website Partnerships
Again, the concept here is to leverage the power of your growing database and traffic counts.
Currently we are solidifying a deal with one of the most visited sites in our county. We are giving their site exposure through our site and we are becoming their Real Estate Search Engine. Our cost is nothing except adding their link to our newsletter which goes out once per month.
In turn, they will be utilizing our IDX lead capture page as their main Real Estate provider. This is very exciting to us as they have 30,000 unique visitors coming to their site every month. My goal is to capture just 1% of their traffic which would be an additional 300 leads per month to our office.
My goal by the end of this year is to get my monthly traffic up to 100,000 visitors per month. Over the next several months we will continue to build similar type relationships.
As I continue to grow different aspects of my business, generating and capturing more leads has multiple benefits.
Over the next year or so I will continue to write about ancillary ideas to help create extra revenue during this downturn in the housing market.
As always, if you have any questions on this or lead capture, conversion concepts, please feel free to contact me. I’m always here to help!