Last weekend, I attended a friend’s house warming party. Over dinner, he was sharing that till a couple of years ago, how he hardly had any plan to settle in Mumbai, thanks to the sky high real estate prices, and today he is already hosting guests in his own apartment.
He had filled up the registration form of this real estate company, just by the way, in a property fair. “I just gave the email ID, not even my cell number lest they should pester me by annoying calls and messages,” he said. “But the company stayed with me patiently for months, irrespective of no response from my side. It would keep sharing details about its new projects that matched my preferences in any slight way, invite me to events, and what not. Over time, the company knew what I wanted, perhaps better than I knew.”
“In fact, I have already invested in its properties in Hyderabad”, he said with joy.
While listening to his story, my mind was wondering, what an excellent lead engagement strategy the real-estate company must have! Lead to customer to loyal customer- absolutely bang on!
Marketing study reports say that 80% of marketing leads never convert into sales. The customer defection rate is higher than ever now, even for established brands.
Better late than never. Marketers have begun realising that generating leads is important, but it is not just enough. Unless the leads get converted to customers & loyal customers with high lifetime value, the whole purpose of business remains unachieved. Acquiring huge number of quality leads is a day late and a dollar short without an effective lead engagement strategy in place.
Lead engagement is a powerful tool that creates bridges between you and your potential customers. The shift of marketer’s focus from aggressive lead acquisition to engagement is the way going forward, to long term business returns. Engaging takes you to your business goals in multiple ways.
So, the mantra is – Good acquisitions and better engagements for best results!