This is one of those things that big teams know that you don’t.
What they know that you don’t is their client acquisition cost. With this number you can literally (the real meaning, not figuratively, like the kids use it) build a solid pipeline.
With a client acquisition cost the only question you ask yourself is how many clients do I want? #GreatRealtorProblemToHave
So—How Do I get my Client Acquisition Cost?
Your first step is to get your average cost per lead. If you’re following my formula/strategy that I outline in my ebooks and courses then you’re already using FB’s lead-gen ads to find out this cost. If you’re not—use the menu above to find this ebook/course, then come back to this.
Facebook’s lead-gen ad type will deliver. And over time you will get your average cost per lead. Yes, you will do testing and tweaking overtime to hopefully continually bring it down (until you reach a point where it can’t go any further, which is around 4-6 dollars in suburban areas generally and 6-8 in major cities).
Let’s say you’ve got a great ad running and you’ve got your average cost per lead down to $5/lead. Awesome, that’s the first step.
Your next step is to get your lead-to-client conversion rate. Let’s say you got about 200 leads and got four clients out of that. That means you’re converting 1 in 50.
This means you need about 50 leads (then to put in the elbow grease to work the leads of course) to get one client.
The math is then simple 50 leads at $5/lead is $250. BOOM—that’s your client acquisition cost.