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What's Your Focus - Quality or Quantity?

When I'm not posting about annoying songs or basketball tournaments , I post about Real Estate.  For those of you following me, you have read quite a few tips on marketing.  Most recently, I posted these two topics regarding your marketing efforts.  Most importantly, track your results, find your niche, and do not over do it.

For your marketing actions to work it is important to understand the differentiation between concepts of marketing and sales.  Sometimes the words are utilized interchangeably.  Though these concepts are definitely related in their application to business - they are also very distinctly different with regard to their objectives and positioning within the process.

http://www.samsungblog.co.za/blog-and-story-tags/f300 What does all of that mean?  Basically, marketing actions are undertaken to produce leads.  

These actions make the phone ring or emails arrive.  Unless you are completely cold calling (which I assume most of you are not) or receiving a referrals, you cannot be put in a position to sell unless your marketing activities produce leads.  Sales activities are undertaken to convert these leads from prospects to customers.  During the sales process we develop a relationship with the prospect and attempt to discover and meet their needs.

http://www.ice08.com/about/blogcontest The key to marketing is not only to produce leads - the key is to produce high-quality leads.  

High quality leads can be distinguished by the strength of the referrals and the ability of the sales person to meet the needs of the prospect.  For example, if marketing produces prospective homebuyers who are not qualified to purchase, the actions cannot be considered effective because their needs can't be met.  If marketing produces leads not motivated to list their homes, these are not to be considered high-quality leads.

http://www.bisconsulting.ca/seminars/goal_setting.phpIt is important to note that one goal of marketing is to produce high quality leads.

The higher the quality of the lead, the more likely the sales process will succeed.  On the other hand, if the sales person doing the marketing is lacking sales skills, they are not likely to take advantage of any leads - even ones of high quality.

If your marketing activities are not producing results you must determine if the problem is represented by a lack of leads, the poor quality of leads produced, or a lack of skills necessary to convert these leads.

Are you getting leads today?  If so, what category do you feel your leads fit into?

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John Cannata    p# 214.545.5604  

www.TxMortgageConsultant.com

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Are you looking to purchase a Texas home?  Perhaps you love your Texas home but would be interested in refinancing your Texas mortgage to a lower interest rate?  

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John R Cannata    P#214.728.0449

NMLS # 322646

Texas Home Loan Expert

Frisco TX Mortgage

      

 

The views expressed on this site are mine alone and do not reflect the views of my employer.

Comment balloon 14 commentsJohn Cannata • November 25 2008 10:05AM

Comments

Always quality John. I know that's much easier said then done, but quality in my opinion goes longer & further - always..

Just ask my wife.

Posted by Greg Nino, Houston, Texas (RE/MAX Compass, formerly RE/MAX WHP) almost 10 years ago

Why not both ?

Posted by Carl Stars (Sutton Group About Town Realty ) almost 10 years ago

Great post, it's a full time endeavor to produce leads and convert high quality ones. Of course, lead generating will always produce some of the unmotivated. It's the talent of sales that tells you to move on quickly away from those leads and spend your time and energy on converting the motivated.

Posted by Linda Breeding (Keller Williams Realty ) almost 10 years ago

I like the way you differentiate the two. You cannot "sell" without leads. Great post!

Posted by Rich Rogala, Real Estate Marketing Coach (Consistent Clients) almost 10 years ago

Greg - I spoke with your wife and she confirmed that you are a 'quality' guy but are leaning towards 'quantity' when it comes to kids.  Congratulations on your daughter.

Carl - If you can manage a LoT of quality, I think thats fantastic.  As long as quality is in the equation, you can't lose.

Hi Linda - You are right.  You can easily get consumed by the people who really have no interest in moving forward.  They talk to you all the time and have many questions.  it looks like they are going to buy, but they aren't ready.  Keep them close enough so that if they change their mind, you are there... but make sure to dedicate your main focus on those that are truly interested in buying or selling today.

Rich - As you probably know... some people try to run before they can walk.  If you don't express the obvious it can sometimes be missed.  Thanks for the comment.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 http://TexasLoanGuy.com) almost 10 years ago

As always, great tips and info John.  Hope you had a nice Thanksgiving!

Posted by Karen Otto, Plano Home Staging, Dallas Home Staging, www.homes (Home Star Staging) almost 10 years ago

Thank you Karen.  My Thanksgiving was great.  Im still full.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 http://TexasLoanGuy.com) almost 10 years ago

John - I have website leads - which sign up on my website and I do nothing about them. I want to give them a no-obligation, no-pressure environment to search, look and browse and those who ends up contacting me are those that are ready to present themselves.

Of course, I look for HIGH QUALITY leads which are calling me at the moment. I have done something right the past 6 months and I will continue to do them.

Posted by Loreena and Michael Yeo, Real Estate Agents (3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co.) almost 10 years ago

Loreena - Do you send your subscribers anything to think about doing business with you?  Or do they just get access to your website?  Its okay to send out a newsletter that talks about your accomplishments or invites them to call you.  So, I guess instead of starting with a solicitation, the first step is the newsletter.  Do you send one today?

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 http://TexasLoanGuy.com) almost 10 years ago

John

Thanks for sharing. To me it is all about quality. The quality can be much higher when the people come to you through a referral. Again the key is Excellence. See my blog on this topic. Again I have missed your blogs as I took a bit off from AR. How are you finding the market? Send me and email

Posted by Edward moloney, Loan Officer Providing 5 STAR SERVICE (Edward Moloney Loan Officer GMH Mortgage Services) almost 10 years ago

Hi John,

The distinction between 'leads' and 'high quality leads,' is a powerful one to make.  I would rather have a few high quality leads, then a bunch of time wasters.

Thanks,  Laurie

Posted by Laurie Logan, South Central WI Real Estate (Keller Williams Realty, Inc., Broker Associate) almost 10 years ago

Ed - I've been wondering about you.  Hadn't seen you on in a few weeks.  Take a little break?  I'll shoot you an email and share my thoughts.

Laurie - Exactly.  I've found that when I cut my time on the people just pulling my chain, I can spend much more valuable time with the people looking to move forward.  If you can't identify your target, you may be in some trouble.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 http://TexasLoanGuy.com) almost 10 years ago

JOHN Quantity is just a bunch of busy work. Quality gets you to the closing table.  IMO

Posted by LS Rogers Realty (LS Rogers Realty) almost 10 years ago

Thats a great point Trunda.  It is just busy work.  Focus on the people that are serious and workable.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 http://TexasLoanGuy.com) almost 10 years ago

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