Automation has become an incredibly important tool that is helping not just the real estate industry, but all types of businesses.
While many agents assume they have a lead generation problem, in reality, they more often than not have a lead nurturing problem as they are simply unable to keep up with all the potential leads that come to them through their network.
A study by Marketo found that businesses that used automation to nurture prospects saw a 451% increase in qualified leads.
This shows just how powerful automation can be in your everyday processes.
One of the main benefits of automating your lead nurturing process is that it allows you to provide a personalised experience for your potential clients, without needing to put in the manual hours that you’ve had to in the past.
With the use of a CRM, you can schedule emails and other communications ahead of time and set up workflows to reach out to customers on autopilot. This allows your CRM to do the heavy lifting of the lead nurturing for you, saving time and resources for your entire team.
Today's consumers need numerous touchpoints before they are likely to become a client. According to research by the Sales Lead Management Association, leads need at least 5 to 8 touchpoints before they are ready to buy. This means that businesses need to invest in a lead nurturing process to keep their brand top of mind with potential clients. In real estate, this can be even longer, given the fact that homeowners typically hold onto their properties for around seven years. Automation can make this slower cycle far easier and more efficient.
Automated lead nurturing can be used to add value at each touchpoint. For example, you could send a welcome email to new leads with helpful resources related to real estate. This might be an offer for information on prices or recent sales in their suburb. Or, you could set up a series of emails that introduce your agency and its services to new leads. You could also set up automated follow-up emails to remind would-be vendors of what is happening in their location regarding the market and also, encourage them to take the next step in the process by getting an appraisal.
By the time you need to speak with a lead in person, you have already done the hard work of building that relationship, which then makes it far easier to pitch your services at a listing presentation. Discover 5 proven ways to build trusting relationships with your clients in this blog.
Another benefit of automation is that it allows you to track and analyse your lead nurturing process. With a CRM system like VaultRE or Eagle Software, you can see which emails and communications are working and which ones are not. This allows you to adjust your approach and improve your conversion rates over time. It then simply becomes a matter of improving your process of time, while reaping the benefits of having the lead nurture process running on autopilot. If your CRM doesn't have automation capabilities, it may be holding you back significantly.
The real estate sales cycle is often slower than other industries and the work you do today, might not pay off for many months or even years. The more automation that you can incorporate into your lead nurture process, the more reach you're going to be able to have, allowing you to be more consistent in your ongoing efforts.