In real estate, building meaningful relationships is the core of your business. Retaining existing clients is also crucial to success since the cost of acquiring new customers is very high and can be extremely difficult. It can cost up to 7x more to acquire new clients. Existing clients can also be helpful for building your referral business - one of the most critical parts of running a successful real estate business. Establishing customer loyalty and repeat business are key elements to being profitable in real estate.
With the amount of readily available technology there is today, customers are more empowered than ever before, adding a bit of complexity to the agent/ client relationship. This can be beneficial in the sense that there are multiple channels and methods of connecting with clients but it also can make your life as an agent or broker more challenging.
So what can you do to ensure that you are building meaningful and long term relationships with each and every one of your prospects or clients? The answer is in your CRM. A CRM brings together people and data giving you a 360 view of your customers. It allows you to establish relationships along with your transactions.
Ultimately your goal is to keep your customers happy. Some ways a CRM can help you:
- Provide exceptional service through excellent communication. Your CRM can help provide a greater level of intimacy and personalization with your clients by communicating with clients more often and tracking every important detail in one place.
- Gain insight into your business. Your CRM can show you where to focus your marketing efforts, how to segment your clients, how to close deals efficiently, and how to service existing customers more efficiently.
- Organize your information to eliminate scattered information and disconnected processes that could hinder the customer experience.
- Reward loyalty by tracking all of your referral information in your CRM and thanking your clients for being advocates for your services.
Overall, you will notice that once you start using your CRM, you will feel more connected to your clients and every aspect of your brokerage. On average, Salesforce customers experience an average of 32% increase in Sales and 40% increase in Customer Satisfaction* just by using a CRM. With all of this valuable technology we have today, it is still important to remember that face to face interactions are also a crucial element to creating customers for life.
By: Chelsea MacDade
Marketing Specialist, Think Tech Labs
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