According to data released by LocalCircles, the upcoming unrestricted festive season could hit a high number of $32 billion, just short of 2019's $37 billion. This stat alone highlights how important the festive season is for people, and how they gear up for their purchases. This time of the year also comes in favor of those who like to pour money into big investments, such as purchasing a home.
In real estate, developers and brokers bring out heavy discounts, offers and special deals for people looking to own their dream home, weekend home, or make a worthwhile investment. As such, they have a large number of prospects who are ready to buy from them.
However, as the festive season is aimed at a large audience, the heavy influx of queries and lead management is a challenging prospect to efficiently manage. Hence it is very important for developers to optimize these processes in order to maximize their earnings.
Let's see how real estate developers, brokers & businesses alike can manage high volume leads efficiently in the festive season.
1. Auto Lead Capture through CRM:
With many prospects making inquiries about properties, you must have a system in place that can automatically capture leads for you. This is especially true for the festive season, where you have placed lead magnets throughout your digital channels through discounts, offers, white goods, etc. With a good real estate CRM in place, you can capture leads directly into your system, be it from aggregated property sites, your campaigns, digital ads, SMS, or electronic emails.
2.Lead Scoring for Prioritization of Prospects:
While you have set up an automatic lead capturing system, you must also have a lead scoring system that can prioritize prospects by segregating them as:
- Those more likely to convert
- Those who can be converted via nurturing efforts
- Those that are cold leads
Lead Scoring will increase the lead-to-opportunity conversations rate as your sales reps will be able to turn their attention to higher-quality leads and reduce the lead response time.
3.Drip Marketing for Keeping Leads Warm:
The festive season brings a lot of benefits not only to you, but also to your competitors. Similar to your marketing strategies, they are also likely to roll out a bunch of offers to entice the prospects and turn them into customers.
However, you can get one step ahead of your competitors by building trust with prospects over time, and reminding them of the superiority and benefits of your deals through a drip marketing strategy.
Here are some of the emails that you can send to your leads:
- New property for sale
- Latest offers & discounts on properties
- Hottest properties in an area
- Testimonials of existing customers
- Blog posts about homes and after sales-services
- Construction updates on your property
It is quite significant to have a drip marketing strategy if you want to grow your business, especially in the festive season. Investing in a real estate CRM can help you with the same, without much effort.
4.Personalized Offers & Discounts with Marketing Automation:
Tapping into the power of automation will grant you the power to reach out to the most desired leads with personalized offers and discounts. With lead scoring in place, you already know which prospects are likely to convert, and what exactly are their pain points.
By understanding customer sentiment, you can provide specially curated offers that will compel your leads to become paying customers. The best part of adopting digitization for nurturing and communications is that all your messaging is automated without taking a toll on your workforce.
5.Run Business on the go with a Mobile App:
As the influx of leads will be a lot higher during the festive season, it is highly recommended that you empower your sales reps with mobile apps to help them run operations while on the move. Research also backs this information, since 65% of sales reps use a mobile CRM to achieve their sales targets.
With the help of mobile apps, they will never miss a chance to contact a lead, store their information, send them offers, respond to queries, and much more.
6.Handoff Leads Faster with True Team Collaboration:
The festive season will bring extra work for your sales reps and managers. If they fail to communicate with the leads in a timely manner, or leave them unattended, your leads are more likely to go with your competitor's services.
Hence, sharing, managing and handing off leads within your teams is crucial when the influx of leads is high. A collaboration suite implemented within your working pipeline will ensure that your leads' needs are met, and that your sales reps have everything they need to convert prospects.
7.Track Campaign Performance with Analytics:
Analytics offers a valuable opportunity to improve prospect engagement, and maximize your ROI during the campaign. The tools empower you to benchmark your performance, learn from it, make adjustments, and improve them for future use.
With analytics, you will be able to ascertain:
- The performance of festive campaign
- Number of site visits
- The platform with the most leads
- Your marketing communication
- Your standing amongst the competitors
- Responses to your SMS & emails
With a handful of metrics in hand, you will improve your campaign and be ready for any festive campaign that you have planned.
The upcoming festive season will relieve real estate developers and brokers, given how the industry is recovering from a rested economy. The abovementioned factors will empower real estate developers to manage and scale their businesses in the festive season with maximum productivity and efficiency.
To make the most out of the upcoming festive season, they can take the help of a real estate CRM such as Sell.Do- India's only end-to-end real estate CRM for expanding their business, not only during the festive season but also around the clock, throughout the year.