Lasso teamed up once again with Do You Convert to conduct our annual survey of home builders’ online follow-up practices. In past years, we surveyed over 200 of the nation’s top builders. This year, we took a different approach by focusing on a nation-wide sampling of only 30 builders. We analyzed not just the quantity, but the quality, of their follow-up.
We submitted full registration information including name, email, phone number, reason for moving, timeframe, preferred home size, and which communities we were interested in. We then tracked results for 45 days.
- Only 13% of builders responded in less than an hour
- 10% responded in 1-2 hours
- 13% responded in 4-24 hours
- 26% took longer than 24 hours to respond
- 33% of the nation’s top builders didn’t respond at all
For this year’s survey, in order to qualify follow-up responses, we assigned a score of 1 to 3 to each builder.
- 1: The follow-up was done, but seemed cold and lifeless. It seemed more like a task that was checked off as complete by the builder.
- 2: The follow-up included a reference to some piece of information personal to the prospect or their initial questions. This made it feel significantly more personal and would also allow advancement of the sales process.
- 3: This follow-up truly stood out from the crowd. It included not just references to personal information or questions, but conveyed genuine excitement at the prospect’s situation, needs, or a belief that they were a perfect fit for the prospect.
Of the 20 responses we received (remember, 33% of builders didn’t follow up at all), here’s how the builders scored:
- 45% received a score of 1 for generic emails that didn’t reference any personal information
- 35% received a score of 1 for some degree of personalization (ex. first name), but didn’t acknowledge any information pertaining to the move
- Only 20% received a score of 2 or 3
Here are other interesting stats from the survey:
- Only 27% of builders followed up 3 times or more in 45 days
- Only 14% of builders followed up 6 times or more in 45 days
- Only 7% of builders used video email as part of their follow-up mix
- Only 50% of builders sent marketing emails within 45 days
Highlights from the survey are summarized in this infographic:
The bottom line is that there is still a huge opportunity for builders of all sizes to increase their sales volume through online lead follow-up. If 30 of the top builders are still lacking in their sales processes, small and medium sized builders can successfully compete in the online playing field. Following up first and fast is always the priority, but personalization is where you make a real difference.
For examples of the best follow-up emails and phone scripts, and additional survey results, download the complete 2016 Home Builder Follow-Up Survey here.
Or click the button below: