Michael Cottam Founder, Bright Yonder https://brightyonder.com Referrals are great • They tend to convert (good) • They don’t tend to come in spades (bad) Lead generation programs • They DO tend to deliver leads in spades, but… • It takes too much time to respond to each lead personally, given average close rates • Auto-responder or mass emailings typically turn off customers • Facebook ads • Google AdWords • Bridal show lists • Tourist bureau lead programs • Other travel website leads • Quick plain-text email lets you respond fast, but doesn’t impress • If you take 20-30 minutes to create a beautiful, custom email with photos and a personal writeup, by the time you click Send, that customer is already talking to some other agent • Let’s say you get a batch of 100 leads at $5 a lead • Could be you bought a bridal show list, ads, etc. • Send off a mass email that says how fabulous you are, and you’d like to help etc. • Close rate on this is probably 1% or less • Let’s say the average booking is $4000 • so average commission of about $400 • You spent $500 to get the 100 leads, closed 1, made $400 • You’re down $100 even if your time was free • Same batch of 100 leads at $5 a lead • You take 30 minutes per lead to create a custom email with photos, prices, etc. • Close rate on this is probably more like 5% • Same average booking of $4000 • average commission of about $400 • You spent $500 to get the 100 leads, closed 5, made $2000 • BUT WAIT…you took over a week to create all the emails! • Your close rate on the first 10 is probably 10%...that took you FIVE HOURS • Most of the other leads are already talking to another agent by the time they get your email • Close rate on the remaining 90 leads is probably 1% • So really, you spent $500 plus a long week of your time, and got 2 sales = $800 • You could send out a gorgeous e-brochure of your favorite 10 resorts at the destination they asked about • Every page branded to you and your company • Your photo, your logo, your contact info • Hi-res photo galleries, videos, maps, reviews • Travel specials/sample pricing for each resort • Overview of your credentials • Testimonials from your past clients • Plus a quick personal intro from you • Same batch of 100 leads at $5 a lead • You take 60 seconds per lead to create the e-brochure • Close rate on this is more like 10% • Same average booking of $4000 • average commission of about $400 • You spent $500 to get the 100 leads, closed 10, made $4000 • Monday 9AM you got the leads…by 10:40 you’ve responded to all of them • Have a cup of coffee, and start working with the leads that are responding by 10:45AM •Engages the client with beautiful images, videos, maps, reviews •You’re not giving them a quote, but they can see specials and sample pricing so they know if it’s in their price range •Gets the client comparing/deciding, while looking at your smiling face on every page •Gets them to see your credentials and testimonials and understand what value you add for them What’s the fastest way to get rid of a potential client? Give them a quote. Because what will they do next? Go to other websites to see if your price is any good. Buh-bye. FROM: “price, price, price” TO: 1. Comparing alternatives 2. Understanding your value 3. Trusting your advice