Episode 64
E 64 | How To Achieve 40% Growth Year Over Year | with Steve Meyers
Learn more about how Reside can get you to #1 in your marketplace: https://resideplatform.com/
Show notes
Learn more about how Reside can get you to #1 in your marketplace: https://resideplatform.com/
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In this video, Reside Platform co-founder & host of the Reside Platform Podcast, Suneet Agarwal sat down with Steve Meyers.
In this episode, Steve shares his journey from graduating at the top of his class in engineering at Witchita State University and climbing the corporate ladder to becoming a director of program management, to realizing his true passion laid in real estate. He founded Urban Cool Homes under the brokerage LPT in Witchita, and through sheer determination and strategic thinking, grew his business by 40% year-over-year, despite the challenges of a volatile mortgage market.
Steve delves into the pivotal moments of his real estate career and the importance of building a strong team. He candidly discusses his initial hesitations, the challenges he faced, and the mindset shifts necessary for success. From hiring his first admin and bringing on agents to attending life-changing events, Steve provides invaluable insights into the realities of team building.
Listeners will learn about Steve's innovative "showing partner" model, which has been instrumental in his team's success. He explains how this model works, the benefits it offers, and how it helps new agents transition into highly productive roles. Steve's approach to lead generation, from leveraging Facebook marketing to scaling investments in portals like Realtor.com, is a masterclass in strategic growth.
For solo agents and team leaders alike, Steve offers practical advice on joining or starting a team, investing in leads, and the importance of comprehensive support systems. His emphasis on the responsibilities of a team leader and the need for continuous investment in coaching, systems, and training highlights the commitment required to succeed in today's competitive real estate market.
Tune in and transform your real estate journey with insights from one of the industry's top performers!
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Don't forget to subscribe! - - - @resideplatform
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VIDEO CONTENTS:
00:00 Introduction
02:01 How to Achieve 40% Growth Year-Over-Year
09:01 How To Convert Online Leads
13:50 The Urban Cool Home Teams’ Growth
18:30 Steve’s Showing Partner Model
25:18 Steve’s Advice
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Show Notes:
Get in touch with Steve on
Connect with Steve on Facebook or Instagram @UrbanCoolHomes, to join his team or send him referrals!
Full transcript
[00:00:11] Kasim: Okay. We are back with Kobe Topaz. What's working now. Let's talk about how you all created a 40 percent CPL drop using AI. This seems just way too good to be true. I'm highly skeptical. All right. So I'll give a bit of a backstory. So. ran ads for, and this is like one brand that has three brands underneath.
[00:00:31] Kasim: We were running traffic to all of them different brands, obviously different airfares, everything is different. But one umbrella brand. 2022 was definitely a tough year across the board for these guys. And at the end of the year, 2022, what we decided to do is. We did an entire yearly review and we looked back to everything that we did.
[00:00:50] Kasim: All the ads we ran, everything we uncovered pretty much everything that there is to cover. And we looked at everything, we asked ourselves, okay, what can we do better next year? And then we started to analyze, okay, we've done that, that was missing, this could have done, this could be better.
[00:01:04] Kasim: And then we started mapping out different opportunities for us to explore next year. So we mapped out, and I'll give just a couple of the stuff we identified. so for these guys, They have a lot of franchisees, so each franchisee has their own budget. And, sometimes the budget are extremely low.
[00:01:20] Kasim: we all know that Meta likes to have at least 7x. Of your cpa, per day. That's not the case for these guys So what ended up happening is last year ran a couple of retargeting ads for a couple of companies They generated good results But then for other companies that didn't have sufficient budget and i'm talking like sufficient budget.
[00:01:37] Kasim: They didn't even have five bucks a day to run for retargeting. Like I'm it was that low. we thought about it and it's okay, retargeting ads made a performance better. should have to enforce it across all campaigns, regardless of the budget. It is what it is. we looked at all of our ads that.
[00:01:51] Kasim: Converted well for cold traffic. And then we started tweaking the messaging to be suitable more for warm traffic. So that was point number one, just launched the targeting as a cost of both. And I'm talking about campaigns for each account for two accounts. Then the number of accounts was like around 13.
[00:02:07] Kasim: So over 150 campaigns. not to interrupt, but so the reason for that is these are individual franchisees and individual. Markets like DMAs, their markets are very specific. They don't want to advertise outside of that individual region. So this is a very large campaign, massive campaign structure, lots of humans touching it and optimizing it on a regular basis, and this is not your typical kind of, Oh, simplify things with four or five campaigns like meta.
[00:02:37] Kasim: Recommends you doing this is a massive thing, but all in its own geography, all tied back to the individual franchisee. Exactly. Yep. So the first point was like targeting as the second point was, we know that landing pages just didn't convert as they used to convert. When we tried multiple messaging on the outside, like we tried a lot of things, but the landing page just.
[00:02:57] Kasim: didn't deliver the job. So we thought, okay, developing a completely new landing page. That's something that can take a lot of time. We need to get results faster. So we went back to Legion forms on Facebook. Now, if you don't know the evolution of Legion forms previously, the first variation was just, you click on the lead form and then you submit your details and that's it.
[00:03:15] Kasim: You're gone. The second variation, because Meta understood that. Delete forms produced really low quality leads because people didn't remember what the heck they're opting in for the second Variation of it was you click on the read form and then you have to swipe With your finger to approve your submission and that's it, that didn't pre populate with your profile information.
[00:03:37] Kasim: One of the experiences we've had using lead forms, and this is anecdotal, but I think other people have had this too, is people don't always use their most legitimate email address for their Facebook profile, right? Is there any way to get them to update that or swap it over? think Zuckerberg is busy with his upcoming fight with Musk, but after that I'll give him a call.
[00:03:58] Kasim: I'm just curious for example, if you have a really compelling delivery that's about to happen, like Rachel Peterson, who's a friend of mine, she's got this phenomenal lead magnet she's running 300 ideas for tick tock. I don't even run tick tock, but I do a lot of social. And so I wanted the lead magnet.
[00:04:13] Kasim: So I go message her on Instagram saying, I want the lead magnet. And she says, great, chat me your email address and I'll send it to you. Boom, I'm going to give her my real email, not the BS email. And if you use that with lead forms, you could do the exact same thing. And maybe I don't mean to ask a question and then answer it, but one idea would be just make sure that the opt in leads to a promised delivery and the delivery value is high enough.
[00:04:36] Kasim: because I know the field is open, it's available, so it's locked with whatever email they have pre populated so they can update it with a better email address. Yep. We also addressed that issue. With the lead form that we created. So when Facebook created the third variation, now it's called rich creative.
[00:04:51] Kasim: And then what, ends up happening is you can actually,they're combining instant experience and lead form, which was only always my dream that they'll do it. YoU actually can build like a landing page with an opt in form inside of Facebook. So you can bypass if your current landing page is not working or if there's any technical issue or whatever, you can set up an actual landing page inside of Facebook.
[00:05:10] Kasim: what we ended up doing is we chose the third option and then basically I built the page and I'm not a copywriter by all means, but the landing page still crushed, the lead form still crushed it. What I did is actually looked at the landing page and I just pulled.
[00:05:24] Kasim: Information that was really strong bullet points, strong promises and stuff. And then I used ChetchPT to rephrase them the lead form because there's a character limit. For example, for the headline you can use like 81 characters, for the bullet points I think it's around like 40. So we had to tweak them.
[00:05:38] Kasim: Accordingly, and then we started to build the lead form inside of Meta. So let me share my screen and I'll just show you how it looks like. This is where you'd want to go over to the YouTube channel, perpetual traffic. com forward slash YouTube. Awesome. That's right. Follow along, see what Kobe's doing.
[00:05:54] Kasim: See what Kobe's doing. Yeah. Cause this is pretty cool. Like this is all changed. Like when lead forms first came out, they were just a disaster and nobody used them and that everyone forgets about them. And this is classic meta. I think it's probably Google too. When stuff comes out, they use it once and then they never go back to it.
[00:06:11] Kasim: If you're a media buyer, if you're a CMO, director of marketing, VP of marketing, you're running your own organization. You have media buyers on staff. Tell them to go back to the tools that they tried before didn't work and try them again. They get stuck in their ways. We've talked about this in previous episodes, but this is a case in point.
[00:06:30] Kasim: Like to hear it. You're talking about enormous improvement using an AI tool first off. So you should be doing that. I'm getting on my soapbox here Qasim a bit because like you should never stop learning. And here I am, something years old, still learning every single day. It's like up there, Ralph.
[00:06:52] Kasim: Yeah. I don't know what happened. I don't know what happened. The point is, you have to go back and relearn the things that you thought didn't work before. Ah, that doesn't work. Oh, brand awareness campaigns don't work. Ah, traffic campaigns don't work. Bullshit. thEy work, lead forms.
[00:07:07] Kasim: Yeah. They don't work. I remember when Instagram started advertising custom, this is way back when, and it was like, ah, ads on Instagram are never going to work. Are you serious? 60 to 70 percent of people that see an ad on Instagram end up purchasing from that brand. There is amazing statistic. It's become a juggernaut.
[00:07:28] Kasim: So don't discount the tools that you've used in the past. And I'm talking to you, tier 11 employees, as well as the rest of the world, by the way, the point is you got to go back and do it. And Kobe, this is a great example of you going back and improving it and using new tools like AI to make it even better.
[00:07:45] Kasim: All right. So let me share my screen. So as you can see, this is the lead form. Now I chose in terms of form type, I chose rich creative. Now, when we scroll down, you can see the first section is intro. So basically what I did here is I added an image of a loan that's looking really good. And this is basically what our ideal customer wants.
[00:08:03] Kasim: They want that good looking loan. And then the headline I used is your loan could look this good. Simple headline, nothing too crazy here. Then when you scroll down a bit, you can see the first section is a bit of an overview. So this part, I didn't write it. I just took bits from the landing page and just told chat GPT, write me the same thingwrite me a sentence that has the same meaning, but in 81 characters.
[00:08:26] Kasim: And then it's speeded out in 75. And then the section after that is benefits. I added three benefits. And then again, all from Chet GPT. I went through the landing page, took a couple of benefits there, played with Chet GPT. In this case, I told him that I need 57 characters max. Speed those up for me.
[00:08:43] Kasim: I gave them a read. looked good. That's it. Then you can see the other sections, build your story. So here you have a couple of versions. I choose how it works. And then here you basically have three points on what makes this product unique, how it actually works. And again, everything from the landing page and then rewarded by ChaiGPT.
[00:09:01] Kasim: And then as we scroll down, there's a section of social proof. That was big because I wanted people to see actual live proof before they even opt in to further improve the lead we know that before and after images is absolutely crushing for these guys. So I use that as my testimonials.
[00:09:16] Kasim: Then I took testimonials from customers. Now I just added like some sort of carousel. That shows actually what the product does, shows the before and after, and the quote from the customer. So I did that. We got testimonial sections. And then there's a section here which is named incentive. So basically I use that as my CTA, which is request a free quote, get 50 percent off, click on the button now.
[00:09:38] Kasim: And then that's it. They have the green button. They have the questions, but they're actually fields. And then what I did here. So this is going back to Kasim's point is. Previous people, sometimes the emails or phone number they added to Facebook, they're not really using at the moment. So what I did here is I added a section.
[00:09:56] Kasim: Please make sure that the details listed below are accurate to just to make sure that people double check what the input, you can see that there are multiple fields here. it's not just your email and phone number. And then that's pretty much it. Privacy policy, nothing too crazy. And then here I just send them to a thank you page for the.
[00:10:13] Kasim: further pre frames them for the phone call. Basically, the landing page just tells them more about the brand and why they should choose them. That's pretty much it. It's from our interview with Savannah Sanchez. She talked about post conversion follow up surveys and how she had an almost 50 percent opt in rate.
[00:10:29] Kasim: It'd be really cool if, after they reach out, you give them the chance to, hey, tell us more about your lawn care needs. In order to maximize the value of our time together. And instead of just the thank you page, it's a progressive profiling with a deeper opt in form. Sorry to try to improve on a triple PhD strategist, but not even my idea.
[00:10:49] Kasim: No. All good. Thank you for that. That's good. Yeah. I hope that the sales reps do a better job. Yeah, absolutely. pretty much it. That's the landing page we used in terms of like the ad copy and the creatives we use pretty much the same concepts that we use for the landing page. The main variable, the first iteration, the main variable was landing page versus lead form.
[00:11:10] Kasim: We saw that there was immediate drop in CPL there. We didn't go all in with the spend because we know previously there was an issue with lead quality. So there was this. Significant drop in spend just by using the lead forms. And then we waited a couple of I think around a month for the client. To actually get all the leads, get the sales cycle going on, and then come back to us with numbers of, okay, out of those leads, this is the percentage of people that converted to sales.
[00:11:33] Kasim: We're good to go. So once we got that approval, now we just, all the account is on lead forms. That is cool. if you're listening, I really recommend if you're running any sort of lead gen campaign, go to perpetual traffic. com forward slash YouTube and watch this video, because this is pretty bad ass and I was just Googling around about lead forms.
[00:11:55] Kasim: There's nothing like this on the internet that shows this kind of stuff, by the way, like this is bleeding edge, leading edge, Uber creative going back to a form that we discounted years ago. Using AI, obviously using chat GPT in a great and constructive way that makes you more productive and allows you to save a hell of a lot of time.
[00:12:17] Kasim: Cause each one of those fields has a character limitation. You're giving that in the prompt, this is everything that's great.
About Reside Platform Podcast
The Reside Platform Podcast is built for real estate team leaders and broker-owners who want to scale. Hosts Suneet, Nick, and Mie share the systems, recruiting strategies, and leadership lessons that grow teams — straight talk from operators who've done it, not just coached it.