What’s the difference between a subscriber and a lead?
For the last 6 years in a row, over 92% of real estate consumers have conducted some portion of their home search and research online.
Today, it’s more important than ever to not only help sellers and buyers complete their due diligence online, but also to get to know you and more about what you do.
The key for you is to continue to generate leads and then take things to the next step by turning them into subscribers who will want to continue to hang around and consume any and all content that you produce, giving you the chance to build a relationship with them until they’re ready to buy or sell a home.
To do this effectively, you need to know the difference between a lead and subscriber and how to treat each of them.
Here’s a closer look at what you need to know.
What is a lead?
A lead is a real estate consumer who submits their name and information as a means of gathering additional details about what you do.
A lead may want homes to look at, information on selling a home and in many cases, express interest in consuming some of your content. They may even complete a form to get more information from you.
At this stage of the process, they are likely not looking to have your relationship with them move beyond information gathering.
Here’s how you know:
When you reach out to your lead, they’re not terribly forthright with you about the information you need with respect to moving forward in the process. They keep details like timing, motivation, budget, etc., close to the vest.
You want to contact leads as they will be great customers down the road. They are, for sure, very different than a subscribe.
What is a subscriber?
A subscriber is someone who engages with your company on a consistent basis.
Subscribers are responsive to your outreach and are willing to partake in a positive exchange with you. They’ve shown interest in you, your brand and your content. They’re interested in forming a relationship with you and your company in the long term.
Here’s how you know:
Unlike leads, they are interested in letting you know what their plans are, how you can help them and the ideas they have about you and your company.
How to look at (and treat) your subscribers
Now that you know the difference between leads and subscribers, here’s how you need to attend to them.
Some of those people are going to be ready now, probably a very small percentage of those people, say 3% of those people are going be ready right now.
The rest of them, approximately 75% of those people actually own homes in that area and are going to make a move down the line. This is a good thing because you’re doing a really good job building a list of subscribers that are actual homeowners in your area that are going to sell down the road.
If you can stay in front of them with good content – videos, podcasts, articles, social media posts, etc. – you’ll be treating them like a subscriber.
Think of it like being a magazine publisher. These people are subscribing to your magazine and as long as you deliver content they love and want to consume on a consistent basis, they’re likely going to stay with you. However, if you didn’t deliver anything to them for a few months, it’s highly likely that they’ll cancel.
The more consistent you are in producing content, the better the pool of subscribers you’ll create.
What’s even better is that because real estate is a very seasonal industry, you can make some great gains with prospects during the slower times of the year when many agents and take time off.
There’s less noise from competitors and it’s a tremendous opportunity, if you stay consistent delivering content, that you’re going to get some great attention and not really have to compete with many agents in the market.
What’s even better?
When inventory gets tight like it is now, subscribers are the key to snapping up market share.
You see, with “now” business being such a small part of the overall sales pipeline, you need to find people who are looking to sell down the road and build a relationship with them over time until they’re ready to pull the trigger.
Even if they’ve got somebody else that they know in real estate — friend or family member — it’s likely that person’s not talking to them about real estate.
So, if you get them to the point of being a subscriber, you’ll end up being the one that is the “go to” person to sell their home, in their mind.
Building subscribers that want to do business with you over time is a long-term game. The good news is that you’re winning a long-term game that makes things so infinitely easier down the road for you.
Once you make the shift mentally to start creating a community of subscribers, it will make you feel better immediately. Then, when you see the results start compounding: six months, a year, three years, later, you’ll see that it was all worth it.
Look, you need leads. Leads are the starting point to where you can grow your business exponentially.
However, if you want to have a business that gets consistent, easy-to-convert business, you’ll need to generate and disseminate content on a regular basis to a group of loyal subscribers.
Subscribers will identify with you, love what you have to say and want to sell their house with you when the time is right. So start making your leads subscribers starting today.