Spectre’s Guide to Increasing RoI (Part Two)
20:20s or sold-in-your-road are some of the most valuable prospecting campaigns an agent can send, especially when supported with regular canvassing materials. Following on from part one of our three-part series, Spectre’s Guide to Increasing RoI, we’ll be showing you how to use 20:20s to generate more instructions - and secure more leads.
Sold-in-your-road campaigns have traditionally been used by agents to promote their successes and advertise themselves as the best agency in the area. After selling a property, sending out canvassing materials to nearby houses is a sure-fire way to nudge any homeowners who were thinking of selling and spur them into action.
As well as property owners who are considering selling up, 20:20s are a perfect way to obtain second instructions. Within the area you operate, it’s more than likely there will be several vendors doubting their current agent. Whether it’s low viewing levels or a disappointing service, many will be considering switching agencies - which is where you come in. When frustrated vendors see your agency is successfully selling properties next to theirs, you’ll be at the top of their list… and stats show that 50% of vendors change agents before selling.
So those are the benefits of 20:20s, but how well do they actually work? Continue reading to find out what kind of results you could expect.
Strong local leads
With Spectre, we’ve made it really easy for agents to send sold-in-your-road prospecting campaigns. With minimal effort, you can reap maximum rewards.
The best type of sold-in-your-road canvassing intrigues potential vendors to reach out. That’s why our developers have added brand-new QR codes to our 20:20 postcard mailers which link to a Street Insights report with comprehensive details on the sold property - such as average house prices since the last sale, and mobile/broadband coverage. These reports also invite recipients to generate a report on their own home - an effective way of enticing potential vendors, securing more leads and encouraging them to book a valuation.
Sold-in-your-road campaigns are “social proof” of your agency’s successes, which is often the most compelling message you can send to homeowners. They also act as great support to back up the expertise and figures you showcase in your other prospecting materials. In turn, sending 20:20s alongside regular prospecting letters is a guaranteed way to increase lead generation, and as a result, amplify your RoI.
Using 20:20s to generate instructions
Along with our Anniversaries tool, the 20:20’s feature is one of the most powerful functions offered by our software. Data shows that 49% of all successful instructions generated by Spectre letters are from vendors who received a sold-in-your-road letter. In many instances, the 20:20 letter or postcard was the last thing they received before they decided to instruct a new agent.
And we’ve seen first-hand just how powerful sold-in-your-road campaigns can be… with a value of £13 billion from a total of 33,649 successes, 20:20s have created £163 million worth of estimated fees.
On top of that, within the last six months, there has been 1 success per every four 20:20 campaigns on average. Overall, Spectre success rates increase by around 70% if you send 20:20 letters alongside regular prospecting direct mail. Sound good? We certainly think so!
If you’re struggling to set up 20:20s, feel free to reach out to our Customer Support team or directly contact your Customer Success Manager who is always on hand to help.
Stay tuned for the final installment of Spectre’s Guide to Increasing RoI… Street Insights PRO: Driving sales and generating instructions.
Missed our first post outlining the benefits of Anniversaries? Catch up here.
