In today’s highly competitive skip trace marketplace, you can find many sources and providers claiming to provide high quality data with ridiculous claims for return on investment.
However with all this noise among the industry, you may be asking “how do I distinguish between high quality skip trace data and competitors who are beating their chests with false claims?” Well, truthfully speaking you can spend hours on research or learn to decipher between the two.
At Skip Force, we pride ourselves on our “Three Pillars Of Success.” We provide every customer with:
Yes, every transaction is built on these pillars and contributes to your overall success. Today we’ll discuss the first of these pillars, Number Quality Score and how it impacts your outreach marketing program.
Prior to 2019, most competitors of Skip Force made claims to provide the highest quality data and it usually meant you paid a high price to obtain “industry/insider knowledge.” Yet a lot of the skip tracing industry fell flat when it came to providing high quality data and oftentimes providers sold the same data year after year with little to no improvement or impact.
In fact, most real estate professionals today are still using two to three service providers in order to obtain the best information on prospects as possible. Skip Force recommends at least using two skip tracing with different repositories for maximum benefit. This is the technique that most high profile investors use. They choose us as their primary for 2 reasons.
Skip Force was founded because of all the instability within the skip tracing community and recognized the need for high quality data, affordability and much like your teacher in grade school, the ability to show your work and support the data. Thus, giving way to Number Quality Score and the Three Pillars of Success.
Number Quality Score is one of the three pillars of success we use to measure the quality of our data. Skip Force is the only provider that is able to track each phone number’s usage level, for the past 12 months, giving us the power to assign a grade to your list of prospects while providing the best numbers associated with each prospect.
The grade indicates the quality spectrum which allows you the ability to precisely execute your outreach marketing program. Our quality range is based on a grading scale of A-K:
By now you’re probably wondering how a Number Quality Score impacts your outreach marketing program. It’s quite simple. Based on the grades within your list, you can begin to piece together an outreach marketing strategy that is effective, keeps morale high and makes an impact with your cold callers to close leads.
Your Phase 1 approach is highly targeted and precise. As stated above, grades A – E have the highest contact probability of contact with the owner. Any prospects included in this list are highly sought after and should be your first course of action when reaching out.
Get this list of prospects in the hands of your cold callers immediately. As the return on investment with these prospects will be far greater and the connection ratio will remain higher. Remember to properly document all conversations with your prospects within your Customer Relationship Management Tool of choice.
Logging these details is vital to your teams success and ensures quality control when speaking with prospects. In the event that one of your Virtual Assistants (VA’s) or team members is out sick, you can continue the conversation because you’ll have detailed notes on where you last left off in discussions. Not to mention, you can gain insights into how your prospects operate and make note of it. For example, they might like fine dining, sports cars, extreme sports etc. This intelligence strategy will be useful as icebreakers later on.
Another key strategy for this group is if the prospect is a part of a hardship list, follow up on this number regardless if they say they are not the owner. Many prospects will tell you they are not the owner but will come around in your follow up calls when they need to take action.
Next is Phase 2 prospects, grades F – J, that have connections to relatives and neighbors. Don’t lose sight of these individuals or underestimate their potential. It may take some effort to trace your prospect, but these insiders know how your prospect operates, their calling/communication habits and personas.
Last but not least are Phase 3 prospects, which are the least likely to interact with you. Although you can discard these numbers, if you’re persistent and can follow up like a beast, you may be able to convert a prospect or two within this category. Please exercise caution with these prospects as they are more likely not associated with the property.
Ideally you’ll want to break your week into segments and know which days you are to attack which prospects. Meaning, the lists you have may contain over 5,000 prospects you need to contact. This can seem overwhelming and down right exhausting if you’re starting out and without a team of VA’s to help, your first instinct may be to quit if you cannot establish contact with the right seller.
Let’s imagine your team is capable of handling this kind of list, you would segment your week as follows:
Since Phase 3 prospects are of lesser priority, you’ll follow up with them every other Friday. If you have a team of VA’s placing these calls and knocking on doors should be a cinch.
Another common method for segmenting the week is good ole’ divide and conquer. This methodology encourages the division of workloads and priorities. When segmenting the workload on a list of 5,000 prospects, your approach may look like:
Developing a standard operating procedure(SOP)/strategy such as the two mentioned above can go a long way in streamlining your team’s operations and productivity. Also if you plan to scale your real estate company, establishing SOPs will be instrumental to your success.
When you have SOPs that are inline with your vision and goals you can easily pivot when necessary and keep your team agile while adding structure to your day.
Now that you have this knowledge in hand, you can truly harness the power of your outreach marketing program and connect with highly motivated sellers in order to close more leads and help your cold calling team maintain their morale.