Real estate lead nurturing is an effective technique to convert more people who visit your company’s website into customers. By not interacting proactively with the right prospects at the appropriate time will lead to real estate businesses losing out on potential sales possibilities. A lead nurturing plan can assist them in distinguishing between promising leads and those who need nurturing for conversion.
What is lead nurturing in real estate?
The Lead Nurturing process involves capturing the customer data through strategic landing pages and converting those leads into customers either as property buyers or sellers. To maximise the conversion of potential customers into clients, lead nurturing is a deliberate model that utilises analytics and marketing automation solutions.
Real estate sales teams should devise a Lead Nurturing strategy in such a manner that it creates curiosity, trust, confidence, and interest in the services provided and encourages customers to pick them as their real estate agents. For this purpose, there is a strong need for robust tools like real estate CRM and lead management software. An integration of both will produce the best results.
Best Ways to Implement an effective real estate lead nurturing process-
Have a look at some proven real estate industry Lead nurturing ideas that can help sales teams build their sales funnel effectively-
Data Capture and Management-
Lead nurturing necessitates a data collection and management strategy that is both efficient and effective. The real estate sales team should have pertinent data and information such as the contact details of leads, their queries, the information they are looking for, the pages they visit on the website, etc. It is imperative to deploy a CRM lead management tool capable of collecting information from leads, automating the leads' database management, and keeping track of their activities while they are logged in the portal. This way, developers can analyse the customer data and gain insights into their requirements to offer a solution.
Sell.Do makes in-depth real estate lead data capturing easier by tracking lead data and gauging customer sentiment through the lead survey. It offers the following features-
- Multiple lead capture web forms can be created and added quickly to the website to capture the visitor's basic information.
- Capture more data using Progressive Profiling as more leads get engaged. It helps the team analyse their level of engagement and gather in-depth insights.
- Perform customer sentiment analysis by leveraging in-built survey forms. Employees can easily prepare and share survey forms to understand the customer experience.
Cloud-based Interactive Voice Response (IVR) Systems have dramatically improved lead acquisition and management by automatically attending, managing, and routing calls. An IVR is a fantastic solution to polish and optimise call traffic. It is a pre-recorded message that gathers information from callers before connecting them to a salesperson. An efficient CRM can assist the sales team in incorporating an IVR into their lead nurturing strategy. Misdials and low-quality leads who aren't interested get automatically weeded out by an IVR.
Apart from this, IVR offers several other features -
- It offers extensive features like Toll-Free numbers, Text/Voice Broadcasting, Click-to-Call, and API Integration to cement promotions with the prospects at every level.
- Many tasks such as storing customer call information, keeping missed call logs, sending constant SMS updates, etc., get more streamlined after adopting an IVR solution. It allows real estate agents to concentrate their energy on lead management.
- It helps realtors to increase their customer retention rates, a crucial aspect of real estate sales. Even a 5% improvement in client retention can raise profitability by 25 to 95 %. The sales team can engage with leads by sending regular construction SMS updates, broadcast their toll-free numbers to customers for inquiry purposes, record customer grievances for analysis, conduct customer surveys, and much more.
An effective real estate CRM software like Sell.Do can help real estate firms integrate IVR into their lead nurturing operations. The salesperson can streamline incoming calls by Built-in voicemail, IVR, and greetings, providing the customers with a better experience and significantly reducing turnaround time. Furthermore, it comes with the following features-
- On-premise & Cloud Telephony Support
- Virtual numbers to track leads across mediums
- Automated lead distribution through intelligent call routing
- Click-to-call feature for placing calls from within the system
- Quality control through Call Barging by managers & Conference sales Calls
The technique of capturing leads, monitoring their activities and behaviour, qualifying and nurturing them by providing relevant insights and information until they get converted to customers is known as lead management. Lead management is a crucial aspect of the real estate sales process. When a lead arrives on the company's website, the focus should be on tracking their activities, behaviours & interests. It is followed by qualifying and engaging with them regularly so that when they get ready to buy, they go to that company only.
In general, a real estate business has a huge number of leads to manage. Thus lead management is a challenging undertaking. It calls for a need for lead management software for seamless lead nurturing and conversion. It is capable of handling all of the lead tracking everyday tasks without error saving a lot of precious sales time. As a result, company productivity improves significantly.
Sell.Do offers advanced lead management features that automate most of the required tasks just with a few clicks. Some of the most useful features include-
- Automatically capture and track leads from multiple sources through its Lead Capture forms that can be integrated easily with other digital platforms
- Instant lead capture from digital campaigns to stay engaged with leads
- Uniqueness check to eliminate lead data duplication
- Useful lead information such as conversations, past touchpoints, scheduled meetings, and reminders, get stored in one place
Gathering and storage of lead data & information will not produce outstanding results. Developers should have a system in place for assessing leads based on their demographics, budget, interests, and stage of purchase. Sell.Do real estate CRM automates the scoring process effectively so that the sales teams can take tailored actions to convert leads into customers based on lead scoring.
It offers excellent lead scoring features like-
- Lead scoring based on sales events like interaction with the salesperson and touchpoints created during the sales journey.
- Scoring based on Financial Data like CIBIL & Credit Score, which allows the company to take the lead qualifying decisions and accurately predict the closure and final sales deal chances.
- Focus on relevant & engaged leads by using website integrations. Each time they get engaged, the lead score gets improved.
- The CRM combines over 200 data points to build an intelligent engagement score taking into account elements like calls, email and SMS analytics, etc. It allows the team to just concentrate on priority leads.
Other effective ways for real estate lead nurturing include-
- Call reports generation- It provides all the required information about the interaction between the lead and the salesperson so that further strategy could be devised for conversion. Sell.Do CRM offers Call reports generation that helps in lead nurturing.
- Performance analytics- Sell.Do's fully configurable analytical reports provide vital insight into sales productivity, campaign performance, revenue generation, and other core business results.
- SMS and email automation- Sell.Do CRM ensures high-quality inbox delivery of bulk emails and SMSes based on the lead's position in the sales funnel. Moreover, it generates insightful performance reports that depict how effectively the bulk email and SMS campaigns run.
Lead nurturing is a crucial stage that makes or breaks a deal. Naturally, the scope for errors or failures has to be minimum here. While you can enhance your team's performance, it also makes good business sense to equip them with an integrated solution like Sell.Do. You'll see the difference in not just the performance but in the profits as well.