Every business emphasizes building a long-term relationship with its customers to nurture stability. Customer expectations from businesses for preferential treatment have also grown tremendously. It is now expected to be a norm. They need a quick, empathetic, and resolution response. Brands that are not able to up their game in this competitive industry are losing out on their most important aspect of business – ‘leads’. Research says that only 36% of the people get a response to their inquiry within 24 hours. The rest is left to your imagination 🙁
A CRM (Customer Relationship Management) software brings together a brand, its prospects, and its customers together seamlessly and at the same time reduces cost and increases business productivity. There are various CRMs in the market, but you need to find out the ideal fit CRM that helps you accomplish your business goal. Now, if you don’t have a CRM already, look for these characteristics in your daily routine. If you find you or your team immersed in more than 2 out of these 5, it’s high time you find your right fit CRM that lets you focus on business growth.
1. When your leads are all over the place and your team is struggling to accumulate lead data
With all the lead management chaos from multiple active channels of Instagram, Adwords, website landing pages, etc through which your prospects are reaching out to you – it’s critical that you have a robust system for lead management. And not using a CRM is simply asking for the leads to be lost in the crowd.
A CRM software helps you to organize all your lead details in one centralized place with controlled access to leads within your team and also distribute work based on defined criteria or skill sets.
2.When you are constantly resolving fights between your marketing and sales team over lead leakage and lead favoritism
Lead leakage has either of the two possibilities. No CRM or CRM not updated to the latest technology. As your sales funnel gets bigger and wider, you will need a CRM that brings transparency across teams, has a clear path to assign leads to your available agents without favoritism, and generates simple reports for actionable insights.
3.When you are losing out on time, effort, and resources due to double booking errors
Double booking in the real estate industry is a situation that occurs where more than one booking is made for a single flat or property. Research done predicts that there are 25% of the channel partners likely to receive a double booking during their first year on any site. This happens when you don’t have a CRM OR you may have the CRM but it is not intelligent enough to provide real-time inventory to avoid double booking.
It’s time for a 3-symptom test –
1. If you don’t have a CRM and can’t always keep a track of your bookings, you should start looking out for a simple yet intelligent CRM to manage your inventory
2. If you have a CRM but are still doing this manually – it’s time you upgrade
3. If you are doing most of your sales through CPs, you should lookout for a CRM that allows one interface for your sales agent and CPs
4.You are deploying humans to do redundant tasks like sending follow up emails, reminders, and setting up schedules
A common practice is to use spreadsheets to check new customer details or your leads are being dumped off to a shared drive. Multiple agents are accessing the same spreadsheet to achieve their calling targets, sales targets, payment collections, etc. Isn’t there too much risk of lead leakage, duplicate leads, no action on leads, lead deletion, etc?
Automation is the most sought-after efficiency that real estate businesses look forward to applying. The bot workflows are predefined, the access is hierarchy controlled and the platform automates the follow-up and reminders to your leads removing a lot of pressure and redundant tasks from your teams.
5.When you are downloading 5 different excel sheets to create reports
Excel is good, but when it comes to managing leads which forms the most crucial part of your ever-competitive business – the ability to scale with data security is crucial. Automating lead storage, lead distribution, and lead information are some of the few things that can’t be taken care of by manual processing of data. You will need a CRM that is capable of slicing and dicing your data to understand past trends and helps you devise forecasting strategies.
