3 Ways to Finding Actionable Leads in Your CRM
Using a commercial real estate CRM is a powerful way to increase efficiency in an array of areas and tasks. From lead management and nurturing, client service and more, your CRM is capable of handling a wealth of business needs.
Of course the original intent of CRM (customer relationship management) platforms was to enhance our ability to keep up with dozens –or hundreds- of clients, vendors, and partners. It pulls in data to create a full picture of each individual – and it’s a valuable tool for lead conversion as well. Using your CRM to find actionable leads makes sense, and it just requires a few steps.
Identifying leads that are ready for some sort of action on your part (the ball is in your court) can be time-consuming, but it’s critical for success. The same basic principles hold true no matter what tools you’re using to nurture your leads. It’s important to be available and to respond quickly to inquiries. It’s important to know the needs and interests of the client, and to provide the information to address those needs.
With a quality CRM system, this can be done more effectively, and on a larger scale. A study by RealTrends found that nearly half of all online real estate inquiries received no response, even though nearly 90% said that response time was very important to them. Using a CRM helps ensure that nothing falls through the cracks. It gives you the ability to respond more quickly with better information to convert leads to real prospects. A prompt reply containing relevant information shows the potential client that you are on top of things.
Once a lead is on your radar (and in your system), your CRM makes it easy to categorize contacts based on your own criteria. You can group them by demographics, by date of contact, location, industry, etc. This allows for more sharply targeted communications, which are tailored to the interests and needs of a specific group.
It’s also very useful to track property ownership details, like tenant movement and lease expirations. This helps you to judge when a lead is warming up and will likely be interested in hearing from you. Knowing who owns what is invaluable for identifying this type of lead. All of these data points are easily accessible.
While all of our contacts have value, it’s useful to isolate those who appear to be ready to talk some serious business. These are often called “qualified leads,” and answering these questions can identify them:
- Budget: does the prospect have enough money to do a deal?
- Authority: can the prospect make the purchase decision or do they answer to someone else?
- Need: do they in fact have a need that you could fill?
- Timescale: is there a specific time period in mind where they intend on making a decision?
Traditionally, getting this information could involve hours of investigation and phone calls. Today,, a CRM platform holds most of that information on every contact. And it can be shared among team members, ensuring that opportunities don’t go to waste.