CRM is quickly becoming the fastest growing software today. With a host of great tools it brings to the table, it is understandable that businesses wish to leverage these capabilities for improving sales and function. But do you know which of the functionalities is most beneficial to your business?
To answer that question, it is important to understand what a real estate CRM is capable of doing.
Capabilities of CRM Software
Customer Relationships Management is a highly focused segment of any business that constantly stays busy. Especially in the real estate sector, where sales depend a lot on regular follow-ups with consumers. In such a case, an exclusive CRM can bridge communication gaps that occur in the sales pipeline. A CRM is capable of:
- Consumer data collection and analytics
- Generating comprehensive CRM project reports
- Marketing and sales automation
- Inventory management
- E-commerce integration
- Post-sales management
While all the functionalities listed above can work to grow a business, the most useful function of a real estate CRM is reporting and analytics.
The need to always stay a step ahead of your competitors necessitates speed, accuracy and informed decision-making, which can only be done through data
Businesses today can't afford missing crucial consumer insights, which is where timely performance reports generated by the CRM make a difference.
CRM reporting and analytics are key functionality of the software that enables you to understand consumer behaviour and deploy your marketing campaigns with efficacy. A CRM analysis report is a condensed collection of information on your target audience that equips you with the knowledge to steer a sale home.
Through this blog, we will help you understand what CRM reports are and how you can explore the most important reporting feature.
What are CRM Reports?
A CRM software is capable of collecting and assimilating leads data automatically from all the platforms integrated into your CRM dashboard. The software then utilizes this data to extrapolate and correlate values to create real-time reports that tell you:
- The status of every lead that ever touched your business
- The performance of your marketing campaigns
- The efficacy of your sales funnel
- Project performance reports
Each of these reports shed light on how your strategies have played out in the real world, what the performance metrics were, how the results changed during a chosen period of time, what the pain points were for your business, etc.
Gaining access to these insights about your business hands you the power to do something about the processes, strategies and tactics that are not yielding results.
Benefits of CRM Reports
CRM, in addition to accumulating data, generates useful reports that can help your business in the following way:
- It shows only useful, comprehensible information. While all the data is still at your fingertips, your CRM dashboard shows reports that are short and sweet, easy to understand and act upon.
- It clears up unnecessary clutter.
- CRM reports and analytics aid informed business decisions and eliminate the risk of panic or impulse-driven marketing strategies.
- These reports help you measure the real-time performance of your strategies and make modifications where necessary. It is a dynamic picture of your business in the real world.
Must-have reporting features in a real estate sales CRM
A good real estate CRM should be able to generate separate reports for different aspects of your business. Here are a few CRM features to look forward to:
- Sales Reports
In real estate, a sales funnel is usually a long journey for a lead to take. In this scenario, it becomes important to keep a constant eye on lead behaviour once it enters the pipeline. CRM software not only keeps a tab on each lead but also records its behaviour in the sales funnel. The sales team thus has access to a condensed form of leads-data that helps it to zero in on the mature, warm leads and form strategies for the cold leads.
CRM also formulates sales funnel and revenue reports where a business is able to see, through charts and graphs, the most efficient sections of their sales funnel, the most inactive, stagnant sections and expected revenue based on current extrapolations. This data helps to refocus efforts and budget to get things back up and running.
- Progress Reports
There must be some sales targets or goals that your property business has. With good CRM reporting features, you will be able to see your real-time goal progress reports based on the leads, sales and profits data that the real estate CRM synthesizes.
Being able to quantitatively measure and compare market data in this manner enables you to set an achievable, realistic business target that is trackable through CRM software. The goal you set for your sales funnel, for lead generation, conversions, and end-of-day sales are all tracked by CRM.
- Profitability Reports
These reports help you see that a lucrative customer that generates a lot of revenue may not always be the profitable one.
If the cost of managing that customer is more than the revenue he gives, it might actually turn out to be a sour apple.
CRM reporting helps you identify such consumers and device separate strategies to derive more profit out of each lead and customer.
In a nutshell, you can say that a profitability reportis the holistic picture of your business's performance in the market.
Reporting and analytics are undoubtedly two of the useful features of any estate CRM software. Sell.Do, a holistic, end-to-end CRM solution, understands this and equips businesses with themust-have features of real estate reporting, which includes:
- Sales and performance reports
- Leads reports
- Marketing reports
- Custom report builder
And these are just some of the features that enable better decision-making for your business. Going beyond a typical CRM, Sell.Do serves as an integrated real estate solution that powers your business to success.