August 2021 – Motivated Seller Leads Update

Follow along as I publish monthly motivated seller leads updates

You can see monthly updates here or following along as I publish real marketing stats in my public scorecard. A scorecard is a wholesaler’s KPI tracking spreadsheet.

This month I spent $764 in Google Ads marketing for motivated seller leads. This was my first month of recommitting to my Carrot website.

My biggest insight from this month was – test your conversion tracking.

I had an error in my setup that didn’t count 2 of my leads. Not the end of the world. The leads still showed up in my inbox and we made contact with them. But my cost per conversion is not skewed and being an analytical person, that bothers me.

What did $764 yield?

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As I mentioned – this month actually produced 3 leads. With 26 clicks and 3 conversions that is a pretty darn good conversion rate. That is 11.5%. This is a great conversion rate but only if that holds true and we are able to close leads into deals to fund more ads.

Motivated Seller Leasd Metric Breakdown

You can see the high-level metrics in the screenshot above. But I will share a few more interesting data points below.

  • You might be asking which keywords convert the best?
  • How many clicks did each keyword generate?
  • How much did each keyword cost?

Well, we can answer all of that within our Google Ads dashboard.

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If your website isn’t mobile-friendly you are leaving MASSIVE amounts of money on the table. The chart below shows that nearly 65% of the impressions and clicks are coming from mobile phones which means they are going to be opting in on mobile. Yet another reason why you need your conversion tracking in place. My 1 reported conversion came from a tablet which is interesting.

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Lead Breakown

TL;DR – none of these leads are going to close in a deal.

Lead #1 – This was a great lead. The property needed some work and the seller admitted it. The seller was able to find a better deal than we could offer him and we are glad he was able to sell his house.

Lead #2 – This seller was nice but actually looking for a retail offer. We put them in contact with a realtor who would be able to help them out.

Lead #3 – We couldn’t come to favorable terms with this seller. They wanted more than we could offer for their property.

Going Forward

We are halfway through September and this month has really cooled off on clicks. We are going to do some more research and find some intent-based keywords we can load into our campaign.

We had a split test running during August and just paused it. I was growing concerned that the lower traffic count was affecting conversions. The first 2 leads converted before the split test so I am trying to make smaller, subtle changes while clicks and conversions are down.