What Actually Makes a CRM Powerful?

By
Real Estate Technology with Chime

 

There is nothing wrong with your television set...

The last time I wrote about real estate CRMs and technology, I felt my post created more questions than it answered! (you can read my original post on shopping for a CRM here) I felt encouraged to revisit this topic from all the warm welcomes and responses I’ve received from Activerain. For this blog, I wanted to take you on a journey and show exactly how a CRM is designed to save time, streamline workflow, and boost sales.

Do not attempt to adjust your computer monitor. We are controlling the blog post. You are about to experience the awe and mystery of real estate tech which reaches from the first lead to the outer lender!

So what actually makes a CRM so powerful? What tangible benefits do I gain?

Technology automates critical lead engagement.

How: Lead importing and auto-engagement.

It’s one thing to use tech to maximize your time and improve productivity, but it’s another to have your CRM parse data and engage leads from any source on your behalf.

Why is lead engagement critical? When an agent responds to a lead within the five minutes, the chances of conversion increase by 100%. Online leads often fall into the buckets of other agents, yet being in front of your online leads first is the secret to getting the best ROI out of your online lead efforts.

Scrambling to the computer to be the first to respond is fleeting! It’s contradictory to time management and leads to waste. The right CRM will import and engage online leads automatically through email, saving you plenty of time and allowing you to focus your attention on other lead gen efforts.

Technology improves funnel performance with sales automation.

How: Lead scoring, routing, and nurturing.

Importing and automatically engaging leads in the background takes tremendous weight off the top of your funnel, and the technology built into the right CRM can solve a common problem with most sales funnels: 79% of marketing leads never convert into sales. The lack of proper lead scoring, routing, nurturing is the cause of poor funnel performance.

Lead scoring.

Phony emails, 555-5555 numbers, and fake names are all too common with online leads. Even if leads are imported directly into your CRM, how do you know which leads are sales qualified and which leads need to hit the trashcan without manually scrubbing?

There’s technology out there which scrapes online data, parses it, and verifies emails and phone numbers from each lead, so you can know right off the bat if you have a proper sales qualified lead, a lead which needs further development, or a “lead” not even worth your time.

Lead routing.

From an online performance survey conducted by REAL Trends, agents who used automated routing saw 13 to 25% in lead gen growth year over year! Originally, importing leads required manual routing and management, especially if leads were aggregated from multiple sources.

If you run a team or have trouble figuring out which group to assign a lead to, there’s technology built into CRMs that can automate lead routing from different sources, from Zillow to online leads to your custom Zaps, all your leads are grouped together in a single, centralized database without

Lead nurturing.

Compounding studies and proven methods from the industry’s top coaches demonstrate more leads are closed between the 6 to 12th touch stage. Creating action plans and deploying them within your CRM will help you track your touch methods and stages. This will keep you from boxing yourself in with a single strategy, for example, calling too frequently or flooding your lead’s inbox with poorly optimized emails.

Setting up an action plan will help you follow-up in the right order with auto-welcome emails, texts, reminders for a quick call, and even a reminder to send a handwritten thank you note! If you have team members, you can even delegate these tasks.

Technology keeps you agile and competitive while mobile.

One of my favorite things about technology is the ability to take it on the go, and I am not alone. A majority of professionals agree they could be more productive if they had mobile access to work applications, according to Base. But professionals are the only ones going mobile.

In 2014, the National Association of REALTORs found the typical buyer lead used a mobile device to search for properties online. After looking at agent websites with photos, home listings, and information, the lead then contacted an agent. As real estate moves more and more into the digital sphere, It’s important to optimize your lead gen and sales strategies to be mobile responsive.

Chat services, including 3rd-party SMS and virtual number tools, are one of the easiest yet underutilized lead gen and converting tools! From another REAL Trends study, 5% of online leads came from live chat. Agents who use 3rd-party chat services see 36% increase in online lead gen, 50% lead qualifying rate, and 7.5% lead conversion rate!

 

Technology automates time consuming processes.

How much time do you spend on administrative tasks, lead prospecting, scrubbing, or non-sales related tasks throughout your day? If you’re like the 62% of other agents who answered a recent productivity survey, you might spend an hour or more each day on marketing, advertising, and lead prospecting.

In the same online performance survey conducted by REAL Trends, agents who leveraged technology into their daily workflow were 50% more productive compared to agents who used no technology. Consider the ‘80/20’ rule: What tasks can you automate using your CRM which only produce 20% of your results but consume 80% of your time?

Technology runs your team.

Technology built into an intelligent CRM will automate your workflows and take the human factor out to maximize productivity, sales, and even team cohesion. Here’s how the right CRM provides time-saving solutions for a team:

  • Customized lead routing delivers leads to your agents with smart pipeline
  • Customized welcome messages the second they are added as a lead
  • Property alerts allows you to send properties that may appeal to your lead
  • Communicate and collaborate from any device with Chime’s team chat and virtual number feature
  • Create action plans and tasks for your team and manage their efforts, whether you’re at the office or on the go with your mobile phone
  • Reporting and analytics allows you to gauge the strengths and weaknesses of each team member, including email open rates and conversations with leads

I have many many more features in my tool chest designed to save your team time and money. Can I show you how Chime is designed to help you turn more hellos into escrows?

But before you go, all of us from Chime want to give you two free special gifts: A free infographic and an ebook on how to build and run your own real estate team from the ground up!

Chime.me | 888 - 342 - 9698 | info@chime.me

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Topic:
Real Estate Technology & Tools
Tags:
real estate software
real estate teams
real estate tech
real estate crm
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lead nurturing
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chime crm
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Rainer
1,275
alice brant
assignmentdoer - Kelly USA, TX

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Apr 25, 2017 12:03 AM #3
Rainer
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Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Zach,

Does your software incorporate WhatsApp? That seems to be a popular messaging service now.

Apr 25, 2017 08:45 PM #4
Rainmaker
292,735
Diana Dahlberg
1 MONTH REALTY - Kenosha, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Something worth thinking about if you are looking for a CRM.

Apr 25, 2017 09:40 PM #5
Rainer
19,483
Brittany Nettles
Keller Williams Realty Center City - Philadelphia, PA
Realtor and Social Media Guru in Philadelphia!

The most important thing is to UNDERSTAND your CRM! I'm so guilty of not maximizing my CRM because I haven't dedicated the time to fully learning it. Here's my accountability check! lol

Apr 26, 2017 05:27 AM #6
Rainmaker
266,026
John Wiley
Jones & Co. Realty - Cape Coral, FL
Lee County, FL Real Estate GRI, SRES,GREEN,PSA

I have found an amazing concept to make a CRM powerful: USE it.

I found your post to be quite informative as there are integrations I was not aware of.

Thanks

Apr 26, 2017 12:15 PM #7
Rainmaker
3,098,884
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Zach @ Chime ,

Very informative post on CRM and why it's wise to incorporate in your business..thank you for sharing.

Apr 29, 2017 05:32 AM #8
Rainer
209,175
Stephen Turner
Coldwell Banker Residential Brokerage - York, PA
The BIG Guy of NEW HOME SALES

Thanks for Sharing. I'd also add the most powerful CRM's are the ones that actually get used. If you don't use it, you'll never get all the amazing benefits that a CRM provides. Don't be afraid to embrace a CRM, it will help you run your business successfully.

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Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

The finer tuned the CRM is, the more time I'll have available to focus on lead generation activities. A fine tuned CRM also reduces the dependency on any specific administrative assistant because the next admin can just continue using the system.

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Rainmaker
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April @ Chime Technologies

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