Welcome to 2024! We are 4 days in now. How are you feeling about your progress on your goals? Do you feel that you are falling behind already or working strong? Will you will be able to sustain what you are doing or are you likely to go off-track when you get busy?
This time of year has a lot of agents planning on what they want for their business in the upcoming year. I keep my eye on what agents are saying in online agent business groups and I have noticed a new year trend of agents asking agents what they are doing (or plan to do) to successfully generate leads this 2024.
The challenge is, I see a lot of suggestions out there that may work for one agent, but that won't work for everyone. Other ideas sound good on paper, but in reality, they don't bring in the promised business because they aren't the right lead generation strategy for that area or type of product. Suggestions like these cause agents to doubt what they are doing and think the grass is greener elsewhere.
Case in point. There was a post yesterday in one of these groups that asks what agents who close more than 50 transactions a year are doing to generate leads. The answers included:
As much as I was concerned about agents thinking that the secret to success is outlined in someone else's business plan, I still loved this question and the answers that agents provided. Why? Because this proves my point that:
If you need to get your pipeline filled for 2024, then you need to have a plan. Each one of the above lead generation strategies can work if there is a plan that is executed consistently. It really is that straight-forward, folks!
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Since so many agents are out there asking the same question, "What is successful lead generation?" That makes me think there are a number of you are working without a plan. Or perhaps you have a plan, but are doubting your plan and want to throw in the towel. If your plan has worked in the past and is relationship-based, don't throw in the towel. Maintain that plan but add something else for the time-being if your pipeline is looking a little empty.
For example, if your 2023 plan included:
My recommendation is to CONTINUE with your plan. Don't abandon it just because your pipeline isn't where you want it. Walking away from a lead generation strategy that you have been working is like walking away from a field of corn in mid-June that you planted in early spring. Of course, it hasn't produced yet, but come August, those seeds you have planted will sustain you. Add something else, but don't give up the work and resources you have already put into your original campaign.
The only exception to this rule is paid online leads. It is good to really evaluate these lead generation sources every six months or so since technology and online behavior can change quickly and this is more of a funnel that can be turned on-and-off.
I will also say, if your lead generation plan doesn't include some aspect of being in front of people, I have concerns about its effectiveness. If you are hiding at home and doing a bunch of busy-work under the title of, "lead generation," but you aren't actually making genuine connections with people, you may be fooling yourself.
So, what is the #1 thing I am recommending agents do in 2024? Stick with your lead generation source or define your lead generation plan and EXECUTE CONSISTENTLY! THAT IS IT! Lead generation will work if you work it.
By Denise Lones CSP, CMP, M.I.R.M.The founding partner of The Lones Group, Denise Lones has over three decades of experience in the real estate industry. With agent/broker coaching, expertise in branding, lead generation, strategic marketing, business analysis, new home project planning, product development and more, Denise is nationally recognized as the source for all things real estate. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.