Lead Qualification 101: How To Find the Best Home Building Leads
In the Home Building sector, many contractors struggle with lead qualification. Hundreds of leads come in, yet not all of those leads deserve your attention. Increased demand for custom homes, rising household disposable income, and a low stock of homes has ushered the home building industry to reach a 113B market size! With the rising quantity of leads, it’s important for home building professionals to know how to qualify a lead and determine if it’s worth following up on.
When it comes to lead generation by a business, there is one thing that matters above all else: conversion rates. Conversion rates measure the percentage of people who have been contacted via marketing campaigns and sales calls and, later, converted into paying customers. In order to achieve high conversion rates and get a better return on the marketing/advertising spend, home building businesses should be focusing on the quality of generated leads rather than just their quantity.
To find the best leads, home building contractors can combine a mix of tried-and-true methods along with new, cutting edge strategies to automate lead generation, optimize their efforts, and create new clients.
All Leads Are Not Equal
88% of home building contractors say that their top lead source is word of mouth. This is a business that is both highly visual (prospects can see custom home galleries on your website) and very relationship-driven. It makes sense that a certain amount of client validation, along with the ability to “peek in the window” would drive new business. But in order to grow, contractors have to run other types of tactics to find the best leads possible.
Here’s a list of lead generation components that can help a home builder develop a vibrant stream of effective leads:
Lead generation must be a business priority: A lead generation system must be operating in parallel with the actual home building work you’re doing. That said, just having a system won’t be good enough; it has to be a disciplined methodology that is retooled through trial and error, but maintains a focus on generating and converting quality leads. This involves a solid plan, but it also demands investment in the right inbound, outbound, and lead automation tools.
Get the right mix of channels: Determine your marketing budget and then apply a varied mix of paid social media ads, paid search ads, and other efforts. User acquisition will come from a variety of sources, but in order to spend wisely, you need to track which sources generate the best leads. A good rule of thumb is to start by distributing across social networks like Twitter, LinkedIn, Facebook, and Instagram. Include ad placement on sites that cater to your target audience (e.g. Home Advisor). Learn, refine, and double down when you have identified channels that are most effective.
The right calls to action: Start by demonstrating that you’re a customer-first home builder. Rather than just offering downloads of PDFs, consider calls to action that actually give you time with a prospect. Perhaps you offer a 30-minute consulting session. Doing this requires a high-touch, automated model that enables you to collect a lead, schedule a meeting, and then perform an immediate follow-up.
Make copy creative, engaging, and short: Pretty much every lead gen activity a home building contractor does will have a written component to it: paid ads, blogs, social media. Keep in mind that the goal is not to give a prospect an education; the goal is to get them to engage, whether by filling out a form, making a phone call, or checking out more content. People rarely read every word in front of them, so use skimmable copy that is broken up into small paragraphs, make use of bullet points, and put your creative muscle to work to make it pithy and interesting. This will get people to engage with your ads and content, which will get them to act. Remember, that’s all you need to initiate the lead process.
Lead Generate and Automate Lead Qualification
To most effectively reap the benefits of the lead generation strategy, you also need to layer in automation and attention to following up on all those leads. Verse.io provides a comprehensive solution that offloads much of the heavy lifting of lead management, so home builders can focus on the construction work that distinguishes them from the competition and brings more new customers.
With our next-generation lead conversion platform, Verse.io engages, qualifies, nurtures, and converts inbound leads into new clients for our home building customers. Our AI technology and human concierges help contractors with processing new leads and re-engaging old leads generated by your marketing efforts, book appointments with your sales team, and make your company appear much bigger and more professional to your customers.