At InvestorCarrot we’ve conducted 1000’s of tests and are always looking for new ways to move the needle on all of our member campaigns.
Before you can build a relationship, you have to guide busy visitors to opt-in. By removing barriers to them doing so, you can bridge the gap between a tire kicker and another soon-to-be deal.
In this Carrot Strategy Sketch, Trevor dives in to show you what real estate lead form method has shown to be the highest converting, and explains the psychology behind the two-step opt-in process.
High Converting Real Estate Lead Forms
Hey, guys and gals coming at you with another Strategy Sketch on the whiteboard.
Have you ever been to a website, it could even be your own website and you see a short form or a long form with a ton of stuff in it and how do you know which one performs better?
How do you know which one is going to get you the most amount of leads through your website so you can close the most amount of deals?
It all comes down to science. That’s what we do here at Carrot. We track and test a ton of stuff. We come at you with the data we have found to tell us which lead form, short versus long, performs the best on your website.
Which one is actually going to give you the most performance as far as your lead conversions on your website?
First, we have a short form and a long form.
A lot of websites you go to, it could be a house buying website, it could be one for motivated house sellers, cash buyers, whatever it is, have 14 different things on the form. The motivated seller who lands on it has too much stuff to fill out.
On the flip side, some websites might just have an email box or just have something to fill out your name and phone number. So, is there a common ground that’s going to get you the best performance?
What we’ve found in our testing, which we’ve also corroborated with a lot of other experts in the conversion industry on what they have been testing, is that the short form up front is going to give you better performance.
But, not just a short form. We are going to show you how to couple it with this strategy we call the two-step. This is going to give you the best overall performance with conversions on the front end and lead quality in the back end.
Real Estate Lead Form Opt-In Psychology
The first thing is the psychology of your opt-in forms. This is really important because when someone lands on your website, what they’re going to see is either a bunch of work that they have to do to be able to become a lead of yours or they’re going to see a really streamlined and low resistance way to work with you.
We always want to work in the streamline and low resistance side of things. Make it as easy as possible for people to engage with you, to work with you, to fill out the information on your website.
The harder we make it, the less likely people are to engage. They’re going to bounce back to Google. Or, they’re going to head over to your competitor’s website and engage with them. Or, they’re going to go back to Facebook or play Pokemon Go or something like that. So, we want to make sure we’re engaging them when they’re on the website and keep them there and streamline the process.
We like to use small asks first. Find some very simple things that are small questions you can ask that are really easy for them to answer that are going to lead to the big ask later.
For example, if you’re working with a motivated house seller website, start with address, phone number, and email address.
At this point, all we care about is their address which is a very low resistance thing, their phone number which you can make optional or required. It depends on your choice. We like to have email so you have two points of contact for them.
That’s all we care about at the start because now we have their contact info and we have their address. Very low resistance. At this point, we’re not asking for mortgage information, we’re not asking for bedrooms, bathrooms, all that kind of stuff because we don’t care. Because if your system works correctly, all of those details, your bedrooms, your bathrooms, your square footage, all can get pulled in just by the address.
Here at InvestorCarrot we have a new feature that we’ve just built that actually as soon as you have the address, it pulls in all of the other data so you don’t even have to ask for it. It streamlines it for you and makes it easier for your client.
As soon as you have the small ask, then we move into the big ask. When we get the basic information, we’re going to guide them to a longer form. For us, it’s not small forms or long forms, it’s both.
Let’s eliminate this in the middle. We’re going to drive someone from a small form to a big form on the two-step process. In our testing, we’ve found that 3-4 form fields on the first form, is the most optimal setup for getting the most amount of leads through your system.
If we’re talking about the most amount of leads, you might have a question in your mind, that it might give me more leads, but I want quality leads. I want ones that are giving me real information that I can actually follow up on and I know that when I have a longer form, I get higher quality leads. You’re 100% correct.
Once again, that’s where the two-step comes in. We want to make sure to have small asks first, benefit-orientated headlines, and the button. You don’t want the button to say submit, you don’t want the button to say continue or next page. The button should have the benefit that you’re going to give them through submitting the information on that form.
It could be”Get My Fair Cash offer”, it could be “See Investment Properties”, it could be “Download the Free Report”. Never have your button say submit, continue, things like that.
They need to have the benefit in the button.
We found that the benefit vastly increases a conversion. You guys might be looking at it and going, “What’s that matter?” Check out our blog. We have multiple instances where we ran bunches of tests that show that we’ve increased performance on a website simply by changing the text in the button from something very generic to a benefit-oriented button.
Why The Step Two?
I’m not talking about dancing here, I’m talking about a two-step opt-in process.
First of all, your first form should have 3-4 form fields and then we’re going to capture that information. We’re going to take all that information and we’re going to send it through the second form on a separate page. Then we’re going to guide them through other questions. This is where you can really qualify your leads. This is where you can really get full information from them so you can have the full story on how you can help that prospect the best.
Once again, what about the lead quality? The lead quality really comes in on your two steps. You’ve already got their information on the first form. The second form is all about qualifying them even further. We have found that anywhere between 80 to 95% of all of your leads, depending on how you’re marketing, will end up filling out the second form.
Here’s where it gets really magical. By having a shorter form on the front and having an effective step-two form setup with the right questions, like we have built in InvestorCarrot where the majority of the people are going to fill that out, you’re increasing your performance on the front end by anywhere from 20 to 40%. You’re getting a 20 to 40% bump in your leads while also still getting the same quality of leads in the back end simply because we harnessed the power of human psychology.
We all like to find the path of least resistance, we all like to work with people who make it easy for us and anytime you make your prospects think on your website, it means that they’re going to bail and go back to playing Pokemon Go or Facebook or something.
Make sure you have short forms that lead to a long form that further qualifies them. Use 3-4 form fields in the first and make sure your buttons are always benefit-oriented… not submit, not continue. Talk about the benefit that they’re going to get at the end of it.
Make sure that you’re capturing the right information on the second form that further qualifies them out with the data you want.
If you are not an InvestorCarrot member, check out some of the new features we have. If you are an InvestorCarrot member, same thing. A new feature we’re just launching right now is grabbing the address data and it’s going to yank all that information from Zillow so you guys aren’t even going to have to ask for square footage for bedrooms, bathrooms, all that kind of stuff.
We make it simpler for you so you can go out there and do more of what makes your heart sing.
Check out our other Strategy Sketch videos on our YouTube channel. Check them out. We’ll talk with you later. Thank you.