3 Lead Generation Channels > 5 Lead Generation Pillars
In real estate, we have long been told that in order to be successful, we need to have five lead generation pillars. Too often though, agents mistakenly interpret this, as an example: Facebook, Instagram, LinkedIn, TikTok and Twitter. Those are my five pillars of business, right…? SO. FREAKIN’. WRONG.
The problem is that those five examples are all “algorithmic,” meaning your success in attracting business from those “five pillars” is all based on the platforms’ algorithms playing in your favor.
But what happens when the algorithms (that you don’t control) change? Your business falls flat. And you’re left scrambling to catch up.
Here’s a better strategy…
Focus on having three lead generation channels that work together to provide a consistent flow of leads.
One should be a Paid Lead Generation channel. Think things like Zillow or Realtor-dot-com leads. The formula is pretty simple: you give them money, they give you sales leads. These require the least effort up front, but often the most effort on the back end.
The other two channels are the reverse of that. They require more effort up front, but almost always are far easier to win the business once you are in contact with a consumer.
The overwhelming number of real estate agents put far too high a priority on the Paid Lead Generation Channel. Most agents are over-leveraged here.
The second channel should be Organic Lead Generation. Organic lead generation involves building relationships and establishing a presence in your community. “Your community” can certainly take different forms. Of course, there’s the neighborhood or city-type of community, but don’t forget about the community of people who already know, like and trust you: friends, family and past clients.
You can best reach your Organic Channel through content marketing, social media, and local events. The goal of organic lead generation is to build trust and rapport with potential clients and establish yourself as an expert in your market.
The third channel is Activity-Based Lead Generation. This is also what I lovingly refer to as, “The Sweat Equity Channel!” Roll up your sleeves and get your uniform dirty! This involves using your time and resources to create new business opportunities through things like open houses, networking events and volunteer work. Activity-Based Lead Generation is all about being active in your community and building relationships.
In conclusion, the five lead pillars of real estate may have been a good idea in the past, but they are no longer relevant in today's market. Real estate agents should focus on having one paid lead generation channel, one organic lead generation channel, and one activity-based lead generation channel. These three channels work together to provide a consistent flow of leads and help you build a successful real estate business.