Brandon and Colby discuss the complexities of duplicate leads in real estate marketing, emphasizing how companies may inadvertently pay for the same lead from different sources. They highlight the differences between digital advertising and direct mail, exploring how competition impacts consumer engagement. The conversation ultimately reveals that while managing duplicates is challenging, it can also provide opportunities to outmaneuver competitors and improve closing rates.
In the world of real estate marketing, the concept of duplicate leads from various channels often sparks debate. Are you simply paying for the same lead twice, or are you strategically outmaneuvering your competition?
In this engaging conversation, Brandon and Colby explore the nuances of duplicate leads in the marketing landscape, particularly for companies investing heavily across multiple channels. They discuss scenarios where leads may come from different sources, such as Google Ads and direct mail campaigns, and how this can lead to paying for the same lead more than once.
Brandon illustrates the distinction between direct mail and digital advertising, noting that while direct mail may yield varying amounts of outreach based on location, Google Ads consistently presents the top four bids to users regardless of competition levels. This fixed inventory of ads creates a unique dynamic for consumers who may reach out to multiple companies for quotes.
The duo posits that acquiring a lead from different sources could effectively eliminate competition and increase closing rates by reducing bidding wars, which ultimately enhances the overall negotiation position for the buyer. Colby adds that larger companies often see leads coming through multiple channels due to their market presence, raising questions about whether managing or targeting duplicate leads is worth the effort.
They conclude by affirming that while eliminating duplicates may not be entirely feasible, understanding their implications can provide valuable insights into optimizing marketing strategies.