Entering into a new year there is no shortage of resolutions and predictions. As artificial intelligence continues to advance and its applications widen, some of these new year predictions are inevitably going to occur. One of these predictions is that artificial intelligence will make lead generation and cultivation a much simpler, efficient and ultimately more accurate process.
Up until now, lead generation has been an arduous task, very accurately referred to as farming. Much like the process of planting, fertilizing and harvesting crops, the manual methods of lead generation take a lot of work. Several recent articles including one in the real estate media outlet, RISMedia help identify the methods and steps necessary for a successful lead generation campaign. While these articles all say that there is no “silver-bullet” automation is coming to make these steps and process much simpler. The truth is that introducing AI into data gathering and analysis is not just about process automation. Machine learning ultimately uses large amounts of information to more accurately predict a customers needs based on factors and patterns that are too expansive for a human to pinpoint.
However, when it comes to introducing artificial intelligence into data gathering and thereby into lead generation, the knee-jerk “human reaction” to this, is best summed up in a quote by Jerry Michalski, founder of REX. He stated that when it comes to AI and data, “Automation is Voldemort: the terrifying force nobody is willing to name.” As we talked about in our recent blog post, “Be like Larry! Cultivate your leads with big data,” the measurable advantage of utilizing AI and big data for lead generation means that not just the menial tasks involved in data analysis can be drastically reduced, but that the virtual “needle in a haystack” can be found with prospective buyers or sellers. In a good market, under optimum conditions this is hard to predict. An article published by Forbes this past December predicted that in 2019 AI will result in the death of the Data Scientist, a prestigious position held by only an estimated 5,000 people in the world. The ability for machine learning to more accurately predict buyer and seller behavior based upon trends will change the way data is used and served up.
Whatever your view point, artificial intelligence is here to stay and can serve as a more advanced tool in our respective marketing toolbelts. There’s nothing to fear but change. As Bill Gates was quoted as saying, “People always fear change. People feared electricity when it was invented, didn’t they? People feared coal, they feared gas-powered engines…there will always be fear of change.”
As you sit down and create a marketing plan whether you are an individual realtor, real estate investor, brokerage or mortgage company, consider tapping into a company that not only provides leads, but utilizes the powerful tool of artificial intelligence to more accurately predict behavior. These companies should help you identify your target audience, capture the pertinent information, categorize your leads and develop algorithms to optimize your marketing plan. Thereby not only taking the routine efforts of marketing off of your plate, but improving the quality of your leads for optimum results.
Imagine in the new year, being able to spend your time more efficiently meeting with highly qualified prospects and customers. This is no longer science fiction, but reality. No matter what changes come in artificial intelligence, real estate transactions and the customer experience will always be dependent on interaction with a human professional. Nothing will ever take the place of the personal experience or what is typically referred to as the ‘belly-to-belly’ encounter.
In 2019, embrace the technological advances and accuracy of leads that AI provides and transition over to technology that streamlines the process and thereby frees you up and pays you back in the form of your most valuable asset; your time. As Investor and Dallas Maverick’s owner, Mark Cuban is quoted as saying, “Time is the most valuable asset you don’t own. You may or may not realize it yet, but how you use or don’t use your time is going to be the best indication of where your future is going to take you.” Where will 2019 take you?
From predictive modeling and complicated algorithms to deep learning and artificial intelligence, Likely.AI is a new-age lead generation tool which is changing lead quality expectations by identifying consumers’ likely real estate decisions before their decisions have been made. To learn more, you can contact Likely.AI here.