Marketing & sales performance metrics or key performance indicators (KPIs) are valuable for Real Estate Developers. From the CEO to the VP of Sales & Marketing, the senior supervisory team needs these KPIs to monitor how marketing exercises and spending plans are performing.
This is especially significant since developers are reducing traditional advertising spends and moving to more lucrative platforms
Here's how CRM report generation can help you keep track of your Real Estate business:
- Campaign Progress
One of the key benefits of CRM reports is measuring how well your sales & marketing campaign performs against your pre-set goals. You can find out the total revenue of the current fiscal year or per month to understand your sales team performance as a whole. You can also check the number of MQLs and SQLs delivered per salesperson to evaluate their progress. These reports help keep you and your team on the same page.
- Business Forecasts
Without a viable Real Estate CRM software, the management frequently depends on their experience alone, and employees don't have a clear direction to follow. Better accessibility to the right data and metrics lets the management identify and pre-set goals based on real information.
- Identification of Issues
Continuous evaluation of your sales processes and workflows in critical to maintaining a process that guarantees success. Implement through assessments to identify gaps, issues or errors in the process that are holding you back from achieving your numbers. The use of a Real Estate CRM can easily help in the process of assessment and having real-time visibility of your workflows.
- Consumer Insights
Understanding customer preferences is necessary for decision-making. With more information about customers' necessities, the sales & marketing teams are better equipped to improve marketing communication, sales pitches, customer care and support management. Real Estate CRM tools are useful in this regard as they have the features to produce weekly quarterly and yearly reports on customer preferences.
- Increased Efficiency
A Real Estate CRM software promotes cross-functional collaboration across sales & marketing divisions and helps identify & reduce redundancies. Likewise, an automated CRM reporting module spares representatives the time to look for information and generate reports. Employees work more efficiently as they don't need to invest their energy in collating relevant information from multiple sources to create reports, permitting them to handle core responsibilities.
- Improves Communication
When senior management and employees have access to the same data and metrics to interpret, there is better collaboration between them to identify pain areas and find common grounds to solve them. This is a significant advantage as having access to accurate information can help build trust within the organisation.
In the Real Estate industry, sales & marketing metrics are demonstrated by specific campaign reporting methods. These stock and custom reports help stakeholders make decisions on the go.
Common marketing & sales performance reports include -
- Revenue by salesperson looks at how much income every sales representative has produced monthly;
- Conversion rate implies the number of deals against leads generated ;
- Average sales by cycle length show how long it requires to bring a deal to closure, from the beginning of a business cycle to its end;
- Average response time is the time taken between a client's request and a sales representative's response.
It is essential to know where and how to start evaluating your organisation’s progress. Sell.Do, CRM software for Real Estate Developers in India, offers best-in-class sales and marketing automation features. to help track campaigns, monitor sales and marketing, reports generation, and send personalised communication to all stakeholders directly from the app.
Besides, Sell.Do also offers a host of relevant features, like pipeline management, to help you streamline your processes effectively. Explore Sell.Do - the CRM built exclusively for Real Estate here. (LP link)