At its core, a CRM is important to your business because it can help you gain new customers and look after your existing ones. But at a macro level the benefits of implementing a quality CRM are even more diversified and impact positively on the overall performance of your business as decision-making becomes more data-driven, with a noticeable effect on your operations and revenue pipeline. Here are some of the key benefits we have identified.
1) Build a prospect database and grow your business
New customers are a key ingredient of continued growth, but they are not easy, or cheap, to come by. That is exactly why you need a system that helps you build your prospects and make the most out of every lead that comes your way.
According to Forrester Research: a properly implemented CRM can generate a 245% ROI for your business.
A feature-rich CRM will empower you to register new vendors, market your properties both online and off, register and action next steps with your buyer prospects, and accelerate sales and tenancy progression, all while delivering a personalised sales journey for each and every customer to help you close business faster and deliver higher revenue.
2) Mine your customer database to discover new opportunities
Your CRM should be more than just a platform for tracking existing business because it is also the source of all your data within which is contained the information you need to generate new business. And a great CRM will help you get to it: search features should intelligently mine a centralised database across all your businesses and offer smart cross-referencing, from sales and lettings to property management, so you can maximise your investments and grow your prospect list.
3) Create and deliver personalised marketing campaigns
Deloitte research found that 85% of businesses agree that efficient data management is crucial to customised communication. Winning new business becomes much easier with a CRM that is able to segment your data whilst intelligently matching buyers and properties, ensuring that you market the right content to the right audience at the right time.
4) Make smarter decisions with insight-driven analytics
The right analytical capabilities will provide your estate agency with the competitive edge it needs, helping you to discover areas in high demand, keep a close eye on your current instructions, identify those at risk of withdrawal and track your conversion-to-instruction performance.
Make effective insight-driven decisions, improve conversion rates, and drive revenue growth with intelligent decision-making. Capture every opportunity and increase productivity by drawing property data from multiple sources and eliminating manual reporting using an integrated suite of property analytics tools to track, report, and act on key performance insights critical to your business.
5) Improve customer experiences with omnichannel support
Research from the Rockefeller Corporation into why customers leave showed that 68% of customers leave because they feel that companies do not care about them.
A powerful CRM will turn hundreds of manual processes into automated ones, including support processes. Leverage your CRM to move to omnichannel, automated service offerings (phone, web, social) with 24/7 access so that your customers can engage with you all hours of the day and night.
Most of the important and time-critical customer service requirements of your agency can be entirely automated within a CRM, leaving your agents with more time to personalise and interact directly with customers.
6) Increase agent productivity and agency efficiency
A CRM can help align your teams with task plans, alerts, and notifications; streamline workflows to speed up and track sales and tenancy progression; automate processes so your data is complete and ensure that no opportunities are missed. Ultimately it will help your employees become more productive and your business processes become more efficient.
Are you currently using the UK’s most popular estate agency software? Release your full business potential when you use a single platform across sales, lettings, property management and client accounts. Get in touch today for a free demo of our award-winning property software.