Quote from @Mark Weins:
Hi, I am regularly cold calling to get a wholesale deal but I am experiencing extremely low conversion rates and I do not know where I am going wrong at for this to be happening right now. For this month I have worked with a list of 1,000 people, dialed 5000 numbers, and cold called for 20 hours in total and have only gotten 1 lead out of this. The list I used was 600 high equity/vacant's and 400 divorcee's from propstream.
I think the biggest issue is that I am getting so few contacts with the correct property owner that after cold calling for 20 hours and 5000 calls the correct person only picks up 1% of the time. 90% of calls picked up go straight to automated voicemail and even when I connect with the right number, it goes to the owner's voicemail 80% of the time. For my data I use propstream for my lists and early on I also used propstream for my skiptracing for the first 600 people on my list, since then I have used batch skip tracing and i've been getting more contact but the numbers are still low. I call out of state with a Florida number, and call between 9-6pm EST.
The second issue is that for the owners that do pickup very few of them are even willing to sell their house and even hear a cash offer. Only 3 people in 5000 dials were even willing to hear a cash offer and 2 of them just hung up on me and said they weren't interested when I did not give them an offer on the spot.
Can somebody give me some advice on what I should do?
July 1-21 KPI's with MojoDialer
Comparison KPI
Two things that pop out to me:
1. You need to look at finding a differentiated list - try propspector.ai. You're likely calling a list that has already been targeted by people who have more experience and $$ than you.
2. You need to automate as much of your work as possible. Really think about your process, and see what can be automated. Some of the best wholesalers I know, have automated a so much of their processes to run their businesses that they only speak to qualified sellers.
