CMO Juefeng Ge and Professor Barry Jenkins (Sr Realtor in residence), with CEO Howard Tager, cover for you the principles of the Ylopo system.
[02:55] Overview of the Training
For clients who are still in setup, you really don’t know how the system is going to work until the day that you go live because that’s when the action happens. We have to wait until you go live before we provide training.
This is what we hope to be the first of many Ylopo Academy Lives.
The way that Ylopo approaches lead generation, database building, marketing—all the things that are important to us—they actually are different. If you utilize the system, you are going to be a participant in growing your business to reach more people.
If you learn how to use the system, you’re going to make not only a lot of money, but the money will consistently go on over time, no matter what happens with Zillow, Trulia, and all these other companies. So stay dialed in and stay focus.
Some of our most successful clients right now are literally clients who, in the beginning, cancelled with us. And they sort of tried other things, which are even worse. They came back or I challenged them.
[09:35] Overview of the The Ylopo Client Health Report
It is a great guiding tool for teams to look at to understand what are the features that you’re not taking advantage of and could produce more ROI for you.
We’ve even graded how well you are doing from a marketing perspective about getting your database import into our system, are you using different tools, what your marketing looks like from a stats perspective, what your budget looks like, etc.
If you are “Actively Using” something, there’s still a lot to learn but at least you know compared to the average client. When you see something that said “Rarely Using”, this is an area that you can focus in more on.
The report is a great teaching tool for you to use for the rest of your team. It’s a Ylopo diagnostic; a systems check to see everything that you’re doing in the Ylopo platform.
It’s a great way to make sure that you’ve got everything dialed in; that you’re maximizing all the features that you can for your business.
[12:45] Overview and Intro to Ylopo
How Ylopo Ads works - what is the consumer seeing from the advertising perspective. Pay attention to what the consumer sees—that’s gonna help your scripting.
How Ylopo nurtures leads once they have been generated
What agents see with new and revived leads
High level best practices on lead nurture and lead follow up - what you should be doing
Resources to help you - resources that are available to you from a Ylopo perspective
[15:00] Our Digital Marketing Credentials
We’re doing digital marketing at scale - we spend over $10M on social and PPC marketing.
We generate 2 million leads annually, and probably import in 5 million leads on our client’s behalf in nurture.
Facebook has done three official case studies on us: one with our DyVA product.
In terms of digital marketing, I do think we’re on the most cutting edge as a platform.
[15:40] How Ylopo Ads Works
Ylopo Social Marketing (The Big Idea) - Facebook and Instagram are unique platforms that allow us to target specific demographics because they have so much data. We can micro-segment who are the individuals within a particular market we are generating leads guess.
Demographic targeting is great, but by itself, it is just a tool that you can use for high-level marketing. Why Ylopo is different is that we can actually upload all of the listings in your MLS to FB. And we are also associating data with every single home to tell FB about the demographics that are relevant to a particular listing.
Ylopo targets the Right Person, with the Right Properties, at the Right Time.
What Consumers See - FB makes sure that when the consumer are looking at these listings, they are going to see listings that are most compelling and interesting to them. They’re going to use their massive, multibillion-dollar investment in AI to figure out what those properties look like. We can draw down into the deepest levels of demographic targeting. This means that you have a lot of options when it comes to Ylopo digital marketing. You have the ability to calibrate the specific types of properties, demographics, that you’re focused on in your market. We’re taking a test-and-learn approach to find out the best type of advertising.
You’re going to get more out of people when you inform them on your needs and goals.
The ads are dynamic, which means it’s always putting the right neighborhood, the right property, the right price range, the right bed and bath, and it’s putting in front of them in FB. Think Listing Alerts like in your MLS, but in their news feeds. This is why it’s so transformative.
Ylopo Lead Form - Once a consumer clicks on one of these FB ads, we then capture this person as a lead. We do that by leveraging a FB technology which is FB Lead Ads. The registration form experience actually pops up inside FB and not taking them to another website, so it’s instant. The contact info of the consumer is pulled from their FB profile and automatically populated into the lead form. Chances are you’re gonna get a valid contact information from the registration experience. You can also add additional custom questions and you can discuss it with your marketing manager.
Ylopo Home Search Experience - this is a very sophisticated piece of technology that no one in the industry has. Instead of making the person double-register on your home search site (HSS), we capture everything that the person is doing on the HSS as soon as they come in. On average, a consumer comes in and views about five properties. This is on mobile so there’s a certain time limit that most people are not willing to spend on a HSS. We’re sending out data about those five listings on your CRM and also sending the data back to FB.
[26:37] How Ylopo Nnurtures Leads
Post Registration: Dynamic Listing Alert - we send in a Dynamic Listing Alert within 15 mins. It is an email listing alert that we’re sending out where we are adjusting what type of listings we show that individual after every time they view more properties on your website. Our average open rate on our listing alerts are well over 50 percent, which sets the mark within the industry to make sure this person is receiving something really relevant to them.
Post Registration: Dynamic Remarketing Ads - we’re uploading all of the listings in the MLS into the FB environment. The difference between new lead generation and remarketing is that, when we remarket to someone, FB already has a lot of data about that consumer because we’ve been sending this data into FB. Dynamic Remarketing is a social listing alert that complements perfectly the email listing alert. The reason why Ylopo has worked so well for agents across the country is because we’re giving the consumer what they want. They wanna see the inside of the homes because that’s what they’re looking for.
For Sellers, Ylopo first identifies all of the homeowners in your database using FB’s algorithm and demographic targeting. We’re doing it not just from FB data but we actually have licensed data from National Data Brokers that have aggregated people who have visited portals. What we’re doing is we’re showing these people homes in their neighborhood/area that have just sold that directly impacts their home price. The primary objective of these ads is to get a consumer to see a property they’re interested in or see a just-sold property they’re interested in and click on those properties.
Sequenced Video Remarketing (Agent TV) - You also need to build trust with the consumer so that when they’re actually interested in working with an agent, they’ll work with you. This is why we launched the concept of video remarketing. Think of this as TV personalized to the people in your database that is going to help them remember your brand when they’re at the point where they’re choosing someone to work with. We make sure these content are very fresh and appear to the consumer sequentially.
Social Marketing vs Digital Marketing - With social marketing, you’re getting leads that are early in the waterfall of being interested in buying a home. The benefits of generating those leads so early is 1) you’re getting in front of them before they’re getting in front of anyone else so you’re building relationships; 2) our average cost per lead, so far in the year, is probably somewhere under $4, which is ridiculously cheap. With PPC marketing or Adwords, which is marketing on Google and Bing, the difference is this person actually has a search attempt. So they’re further along in the funnel of becoming someone who’s seriously looking for homes. So it’s another lead source to add to the mix of all the things that we’re doing to generate high-quality leads for you. Another difference is that the cost per lead on Google is about 2x the cost per lead on social.
Dynamic Pay Per Click Lead Generation - Ylopo have been one of the pioneers to bring PPC marketing into real estate, with our last business TigerLead Solutions. After a lot of investment, we’ve come up with a new form of PPC marketing that we call Dynamic PPC. Ylopo also creates automated neighborhood/subdivision campaigns based on your advertising locations. It’s not cost per click, it’s not cost per lead—it’s cost per close.
What you want to do is build up your income stream over time. There’s no better and more cost-effective way to do that than with social media leads. What you want to do is dominate your market: get your social media leads, let us nurture them; get your more down funnel PPC leads and blend them in. It really depends on your team and the size of your database.
Ylopo has micro-segmented down to the zipcode level, so that when we bid for a particular keyword or location for you, we are able to make up to 50,000 bid adjustments based on the zipcode of origin or where you started your search.
Dynamic Search Ads - Google has recently released a feature that allows us to insert dynamic data into our archives. We update this data every 4-6 hours so it’s always fresh and relevant for your consumers.
Partial Completion Leads - most PPC companies, when they capture a lead, they will capture that lead via name, email address, and phone number—that’s how you complete a registration form. And they put all those questions on one form. What we found is that if you asked for a phone number first, and then you asked for the name and email second, there’s 70 percent more people that will give you their phone number, and then for some reason not complete the rest of the form. If we can capture this person’s phone number, we can text this person via Raiya, so by just changing this simple process of capturing their phone number first, we’re creating 70 percent more opportunities for you than using a standard registration process.
[55:10] Post-Registration: Automated ISA
As soon as the lead comes in, within a couple of seconds we send out a text with varied timing so they won’t think that it’s automated. The first text that we send out to a consumer is fairly generic. Your ISA is always your assistant so it gives you cover. The second text that we send is direct link to recommendations. Nobody has ever been able to have an automated platform send listings via text. We’re about a decade ahead of what the consumers understand as possible. This is transformative. Once the consumer actually replies to one of these texts, that is where our chatbot will take over to start qualifying the lead. After we get all of the information, we will even schedule the appointment for you. As we are texting back and forth with the consumer, we’ll give you the opportunity to take that conversation over or you can just watch the conversation happen on your phone. Raiya is going to appear like a human being 98 percent of the time. Only 2 percent of the time does anyone ever say, “Oh, is this automated?” It’s very rare.
[59:07] In Summary: What Consumers See
FB or Google Ads catches the consumer’s attention
Registration form is needed for them to continue searching.
After they registered, they can search and view properties.
The next time they open up their email or their social media account, they’re gonna see relevant homes sponsored by you (the agent).
Raiya (your assistant) is going to reach out to them to find out their real estate interests.
The consumer’s perspective is very seamless, and the ads are in front of them all day and all night because they are on FB all the time. Just remind yourself that all of this is flowing into your CRM, all these leads.
Why Raiya is different - In order for AI to work and continuously improve, you need a massive amount of data. We have over half a million conversations that we’re having with Raiya on a monthly basis. The second is, the biggest thing that we can do from an AI perspective and what we’re working on is objection handling. We’re testing scripts and dialogues and all other standard objection handling techniques from the best in the industry to help put this on the AI.
We’ve combined the IDX data with transformative AI, which is very innovative.
[01:04:40] The Agent’s Perspective
As soon as a lead comes in, we’re going to inbox that into your CRM of choice. We integrate with a bunch of partners, and we’re going to train you on a CRM by CRM basis.
We give you all the contact information and a summary note about everything we know about the consumer. The most important thing in a New Lead Registration Note that you need to look at is the Stars link that we’re sending over. It’s going to be the Ylopo backend that gives you all the tools for communicating with the lead and also gives you all the intelligence about that lead.
We are also reviving for you a ton of old leads. The insight behind Priority Leads is that we are going to scan for the behavior that we know makes a lead that we know you should be contacting. When we send a priority lead, on the backend, we’re going to wait for you to action on this lead. It’s because, chances are, if you scan the activity of that lead, you’re going to be able to come up with a customized text message that is of higher quality. It gives you a chance to action on a priority lead yourself.
If you didn’t take any action, Raiya will send out a text message on your behalf to that consumer that is relevant with what they’d done on the HSS website.
One of the shortcomings of Automated ISA is setting the appointment. So the other thing that you could be doing and is responsible for is watch the text messages and take it over.
[01:14:10] In Summary: What Agents See
New lead alert comes as soon as a lead arrives (details in notes)
There’s a priority notification when a significant action occurs.
Raiya conversation notes and short link as the conversation is happening.
The ability to browse everything that goes on with the lead within Stars.
[01:14:45] Recommended Lead Nurture Cadence: What Lead Nurture Looks Like
First 10 Days - Call daily, call often, and call at times convenient for the consumer.
Raiya text at her cadence
Your CRM should email the Ylopo Drip Campaigns
After the 10 days, don’t call the leads. Just continue to call the new leads and the leads that you haven’t converted after 10 days. Just leave the leads alone and allow the system to bring them to the top. Forget about them until they do something significant or have a significant conversation with AI.
Make a triage (Hot, Warm, Cold) of the leads based on urgency.
Hot leads - talk to them every week without being annoying.
Warm leads - speak to them every 21 days.
Cold leads - speak to them every 45 days.
[01:20:55] How to Work Alongside Raiya
Leverage - the “deciding” factor. You’re never gonna grow your business if you have to do everything. At some point, you need to start trusting the professionals and the systems around you to get the job done.
Premise - you know more about the market. Don’t call them from a separate number and take over the conversation as Raiya.
If you’re not free, let Raiya convert the lead, and then go into Stars and set the appointment.
[01:23:10] Opening Conversations - Don’t Overthink
Ask questions that the consumer can answer.
Use conversational questions that are teaching the consumers how to think. Many of these people don’t know what they want yet, so they don’t think they need you, a realtor. Because of that, you’ve got to teach them how to think by asking questions that invoke thought: the Socratic method.
[01:24:32] Objection Handling
Act like you care - always validate the lead’s reason for not buying.
Act like they need you - start guiding them and telling them what to do.
Always close for an appointment.