In running a complex business such as Real Estate, it is essential to follow the correct sales and marketing funnel process. This process refers to the journey that a prospective client goes through to become a loyal customer. A marketing funnel helps determine how effective are the set marketing or sales processes and it can help optimise the processes towards achieving a common objective.
Marketing and sales funnel strategies consist of the following three stages.
- Top of the funnel: Awareness
In this stage, brands take efforts to inform consumers about their products and services. In case of Real Estate, Developers or Brokers focus on reaching out to their target audience and entice them to check out the property or properties they want to sell. The objective of this stage is to get as many leads as possible. Once leads enter the top of the funnel, efforts are taken to push them into the middle of the funnel - the consideration stage.
- Middle of the funnel: Consideration
This is one of the most crucial phases of the marketing funnel as many leads are lost in this stage of marketing. In this stage, efforts are taken to keep the leads engaged and hooked to the product. Nurturing of leads happens by sharing product-related information through various channels. Brands should also be equipped to answer the queries raised by leads. The sales team initiates a call with the potential client to understand their issues and provides a solution that addresses all their concerns.
Real Estate brands use content marketing strategy to engage with their audience. Different content formats, such as case blogs, videos, and ads, are used to nurture the audience and build trust in them.
- Bottom of the funnel: Decision time
Here, the leads decide whether to buy the solution offered or not. The sales team would present the suggestions and proposals, terms of the contract and other exciting offers for successful conversion. The outcome can be successful or not based on the prospect's response to the solution and the sales team. If you get the deal, then the process of onboarding the lead is initiated. If you lose, then the reasons for failure are identified and documented. The learnings are used to nurture these leads again in the future.
Sales funnel strategies showcase the lead's voyage through the entire sales process, from beginning to closure. You'll see a notable difference if you evaluate the number of leads entering the funnel and at the end, becoming customers. One of the most common reasons prospective clients drop out is that their solution doesn't match their needs.
To avoid losing leads, developers should use CRM in the Real Estate industry. Using a good Real Estate CRM tool will help your sales method recognise drips in the sales funnel and modernise the transforming procedure.
Mid-funnel marketing is the stage where the chances of converting the leads are highest. Suppose prospects like the solution they are offered and have a relationship of trust with the brand, chances of these prospects converting increase. Thus, developers should project their brand and ensure that they remain at the top of prospective leads' minds. The best way to build the brand is through advertisements on various mediums. An effective real estate CRM software helps in engaging the audience in the best possible way.
Several aspects to keep in mind while advertising to leads in the Middle of Funnel stage (MOFU) for real estate
- Content marketing
Content marketing is one of the best sales funnel strategies that help prospects make an informed decision and choose the solution best suited to their needs. Content marketing helps the audience to understand the solutions offered by the developer. Interested prospects go through the content and connect with the developer if they are happy with the solution. This content also highlights various offers on properties, making it easier for the prospect to decide.
Types of content to use in ads:
- Videos are incredibly engaging and an easier way to pass on information
- Remarketing ads on Digital Platforms help entice the audience with new offers
- Emailers, blogs/articles provide answers to questions and keep the audience hooked to the brand
- Follow a multi-channel approach: integrate Facebook Ads, Instagram and Google Display Network.
Facebook is useful to retarget people who visited your website in the past. Any website visited by a user stores a virtual cookie on the visitor's web browser. This cookie marks their visit. If the same person revisits Facebook, they will receive those targeted ads because of the content viewed.
Through these ads, developers can highlight various offers and USP of upcoming projects, keeping leads interested and hooked.
- Leverage email marketing
This is one of the most important aspects of mid-funnel marketing, where the sales team reaches out to prospects via email campaigns. The information in the email is simple and targeted directly to the client. It has all the relevant info the client is looking for and will entice them to connect with the developer.
If you want to explore this form of advertisement, use an exclusive Real Estate CRM software like Sell.Do. The CRM has a built-in email feature that allows you to track emails and get notifications whenever a lead opens the email.
Prospects whose interest has been captured through content and email marketing are invited to webinars/events. These fun-filled events are a direct way to provide information to prospects and new customers. In these webinars, developers can showcase their success stories and answer any open questions the prospects may have, easing any fears.
These events also act as an ideal space to promote upcoming projects and offer discounts or other exciting deals. If the prospect is happy with the solution offered, chances are greater that s/he will get hooked.
Throughout the sales journey, mid-funnel marketing is of utmost importance. No matter how much effort you put in spreading awareness about your product, if it doesn't offer a solution that solves the client's concern, chances of him/her signing the dotted lines are quite bleak.
If you are looking for a solution for streamlining your sales funnel management abilities, contact Sell.Do today. Sell.Do is an exclusive real estate CRM in the industry and comes with a built-in phone, email, and funnel reports. These functionalities aid in the middle funnel process by making customer data easily accessible, automating tasks, creating a layout for sales, and effectively managing sales campaigns.