OFFER GENERATION VS LEAD GENERATION
You can easily get swept up into spending hours on lead generation —reading the latest in search engine marketing (SEM) tactics and social media advice from ‘gurus’ without seeing measurable returns. Offer Generation is the key to success with active buyers.
The truth is that most leads never turn into commissions. Rather than spending time and money generating more leads, why not invest your resources identifying and wowing Offer-Ready clients who are ready to buy now. By delivering an exceptional buyer experience, prioritizing new leads and working closely with clients during the home buying process, you will increase the velocity at which new offers are generated and homes are sold. This is Offer Generation.
Here’s the typical home buyer timeline from the lead state to the home owner state:
Source: National Association of Realtors, 2014 Profile of Home Buyers and Sellers
OFFER GENERATION Noun | Offer Gen, OG
A process to systematically and scalably convert client leads into transaction offers.
Leslie, you should focus on your Offer Gen, you’ll get more out of your marketing!
Take a look at the comparison chart below to see how Offer Generation activities differ from lead generation activities.
LEAD GENERATION ACTIVITIES
- Publish blog posts
- Be active on social media
- Buy Facebook ads
- Farm a neighborhood
- Knock on doors
- Invest in SEO
- Pursue SEM
- Call FSBOs
- Host open houses
- Prioritize clients based on their likelihood of closing quickly
- Review the purchase agreement and other forms with your client early in the process
- Use insights to predict buyer behavior
- Offer a web and mobile home search platform for client collaboration
- Build momentum with a communication plan around home buying milestones
- Organize a showing tour of targeted listings
- Get your clients financially prepared to act
Focusing on Offer Generation will increase the amount of quality, Offer-Ready clients in your sales funnel. The rest of the Offer Generation Playbook will highlight strategies to win over Agent-Ready leads and convert them into offer-generating clients.
AGENT-READY BUYER Noun | Agent-Ready Lead
A home buyer who feels they have enough information about the process, market, properties and their preferences to contact a real estate professional.
OFFER-READY BUYER Noun | Offer-Ready Client
An agent-affiliated home buyer who has committed to buying a home within a 30-60 day period.