Text messaging, or SMS (short message service), is essential in marketing for several reasons:
- 98% open rate;
- 90% are read within three minutes of receipt;
- 45% response rate;
- Less intimidating and invasive than cold calling;
- Costs less than traditional marketing; and
- Has great ROI.
SMS is an easy, fast, and reliable way to communicate critical information to leads, and its effectiveness is indisputable. You can build a successful SMS campaign with these tips.
Tip #1: Be Aware the Business SMS Landscape is Shifting
Mobile carriers have a responsibility to their customers to protect them from spam and bad actors. Bad actors exploit SMS platforms, compiling valid numbers to sell or target for phishing attacks.
Businesses that send and receive SMS must agree to new carrier requirements. Recent developments include a vetting and application process that builds transparency and trust around text messages. Approval for a dedicated number can take 8 to 12 weeks, and you will pay registration fees when you register your messaging campaign.
GoForClose hosts its own platform for SMS campaigns. Accordingly, we stay aware of SMS procedures and update SMS campaigns to remain compliant with text messaging laws and regulations.
Tip #2: Send "Targeted" Messages
How do you feel when you get a message that you know was sent to thousands of people? Does it make you feel like a number or checkmark on a list? Generic messages do not have the desired effect on recipients.
Targeted, customized, and personalized messages grab attention and have improved response rates. Address the recipient in your message, and share information that is relevant to them and their situation.
GoForClose builds a motivated homeowner list off our database of over 150 million properties. This list includes leads who haven’t hit the Vacant/Tax-Delinquent/Bankruptcy list yet. We also use multi-tiered skip tracing to track lead information – name, address, and phone. This way, we reach the right person with the right message, based on their motivation and situation.
Tip #3: Less is More
How would you feel if a salesperson sent you five messages a week? What about twenty messages in a month? It seems excessive, right?
Text messaging best practices recommend four to five messages a month. These messages should be brief and to-the-point. Also, leave the recipient with a clear call-to-action, so they know the next step to take.
GoForClose is careful not to overwhelm prospects with too many text messages. We do this by integrating SMS into a multichannel campaign that includes email and cold calling. We reach prospects over select periods of time, sometimes as long as 6 to 12 months, because a lead who is not ready today may be an amazing opportunity later.
Tip #4: Have a Real Estate Investing Script
You must write a script sequence for every possible lead response, including “Not Interested”, “Interested”, “Not Ready to Sell”, and “Ready to Sell”. Engage your prospects at every step across the customer lifecycle.
Just like with cold calling, a script helps you navigate lead pain points and responses. When you write your messages, you want to use a friendly tone and be conversational. Sound less salesy and more human, but still, be a professional.
Our team of Internal Sales Associates (ISA) have Real Estate training and experience talking with homeowners. They live answer the SMS, prequalify, and schedule appointments with you or your Sales Team. They also nurture those leads who are “Not Ready to Sell (yet).”
Tip #5: Timing Matters
Prospects are less likely to answer a text during commute hours when driving, at 6:30-8:30 AM and 4:00-7:00 PM. Also, Mondays, when everyone returns to work, have the worst response rates. The best time to send a text message, then, is typically between 10:00 AM and 8:00 PM, Tuesday through Friday. Be mindful of time zones.
Our ISAs track response times and schedule future SMS accordingly. This way, we send leads the right message at the right time, when it is most convenient for them to answer.
Tip #6: Measure Efficiency
Measure the success of your SMS campaign and optimize for efficiency. You can leverage technology to track open and click rates, and A/B test your messaging, audiences, and timing. This way, you can tailor your messages for audience types and garner better results.
GoForClose uses leading industry software so our ISAs can track leads and measure performance. Our Content Developer optimizes SMS marketing campaigns for improved tone and efficiency, while also complying with text messaging best practices.
Text message marketing is a popular modern marketing technique, and GoForClose is ready to make it work for you and your REI business.
If you have questions or are curious to know more, request a free consultation below.
Wayne Hudson
Wayne Hudson has a background in sales and real estate - but with a passion for economics. He uses his knowledge of economics and real estate to help clients think strategically and make decisions to optimize their outcome.
As the company's business developer, Wayne works to help GoForClose grow.
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Wayne Hudsonhttps://www.goforclose.com/knowledge-base/author/opsgoforclose-com/
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Wayne Hudsonhttps://www.goforclose.com/knowledge-base/author/opsgoforclose-com/
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Wayne Hudsonhttps://www.goforclose.com/knowledge-base/author/opsgoforclose-com/
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Wayne Hudsonhttps://www.goforclose.com/knowledge-base/author/opsgoforclose-com/
