Time – if only we had more. But, between work, rest and play, it can be difficult to find the additional time needed to take a business or project from good to great. Imagine if you could hire help that comes without the usual associated costs. You’re thinking, ‘it sounds too good to be true’. Well, we’re here to tell you it’s not.
The answer lies in marketing automation. Heard of it? If you haven’t, now is the time to start learning.
During the next 12 months, 61 per cent of organisations plan to increase spending on marketing technology. Statistics show that globally, the investment in marketing automation software is projected to grow from $3.60 billion in 2020 to $11.46 billion by 2027. Why? Because it works.
The real estate industry is built on marketing and communication. Unfortunately, due to ever-increasing workloads and the constant need for face-to-face interactions, agents can find it difficult to generate and maintain leads. Over-committing to marketing tasks takes valuable time away from this work. Of course, there is also the risk of investing time and money in ineffective marketing campaigns that do not reflect customer behaviour. Some things are just better left to the experts.
Real estate marketing automation goes hand-in-hand with a strong professionally developed content and marketing strategy. Automation is the process of simplifying everyday marketing processes with digital and management platforms. It can help agents overcome the challenges of being time-poor. Not only does a solid automation system take care of the groundwork, but it can also help in accomplishing marketing objectives through digital tools and platforms.
Keep in mind that 86 per cent of marketing professionals report either being somewhat or very successful in achieving important marketing objectives through automation, while eight in 10 marketing automation users see an increase in the number of leads.
Interested? Let’s continue.
5 Ways Your Real Estate Agency Can Use Marketing Automation
We are breaking down the five best ways you can introduce marketing automation into your strategies and processes.
1. Open-house Lead Generation
Open houses play an integral role in the real estate industry. They are one of the most lucrative ways real estate agents can create leads for future sales. Interestingly, global surveys show that open house results can add tens of thousands of dollars to an agent’s yearly commission.
Streamlining your processes and introducing smart business practices in the form of automation services is hugely beneficial. After all, who doesn’t want to increase profit?
So, how best can you automate your open house to result in lead generation? The answer lies in data collection.
The first step is to collect email contact details via a digital platform. A simple client relationship management (CRM) software can integrate the information and identify new and existing contacts. From here, you can use automation to complete tasks such as creating a follow-up email and SMS scheduling. Automation can also be used to deliver relevant content about upcoming open homes, new properties and marketing and business information and news.
This process allows agents to focus on face-to-face communication at an open home and ensure they stay on track with higher-priority tasks and projects.
2. Lead Generation Forms on the Website
It is believed that cross-selling generates an additional 15 to 40 per cent profit for Mcdonald’s. And while real estate agencies can’t offer “fries with that”, what they can do is apply the basic principle of creating opportunity and temptation.
For one moment, put yourself in the shoes of a potential homebuyer who has spent hours trying to find the perfect property. It is time-consuming and can be overwhelming, which means they are open to all the help they can receive. As a result, when a potential buyer logs on to your website and a pop-up screen encourages an email marketing subscription service, chances are they won’t say no. Having new properties delivered to their inbox is not only useful but also saves time.
This is the real estate industry’s version of cross-selling – presenting an opportunity that makes a potential buyer’s life easier. It will also make your life as an agent easier too. Creating automated workflows that trigger when visitors explore landing pages or fill out contact forms can increase the potential for lead generation online. Website forms in particular are crucial in building contacts for your email database.
A lead generation form can present in many ways – as a contact form, registration form, or even as an email subscription. All of these forms help to grow your marketing database, which in turn brings more buyers and vendors.
3. Strategic Lead Activity Monitoring
It can be challenging to monitor every generated lead, especially if some of them have a lower likelihood of conversion. Implementing lead activity monitoring tools to better manage sales leads can help you identify which prospects to follow up on.
Installing CRM software is the first step towards optimising sale effectiveness and ensuring you don’t miss even the briefest of interactions with potential buyers and vendors. After you gather the data, you can distribute and prioritise these contacts in a timely manner. According to Entrepreneur, studies have shown that responding to an inquiry within 48 hours increases the sales closing rate dramatically. This will enable you to nurture your leads by building a solid relationship through ongoing communication.
Automation services aid in this process and also help agencies to thoroughly monitor responses. The use of automation ensures you receive accurate data, have a quick turnaround in communication, and don’t overlook a potential buyer or vendor. With so much competition out there, there is no room for error or a slow response time.
4. Mobile Marketing Automation
Have you heard about push notifications and how they can benefit your business? If not, it’s time you did! Mobile automation may sound complex, but it’s relatively simple and easy to use.
Sending reminders for your prospects and contacts goes hand-in-hand with implementing a CRM automation system for phone calls. Furthermore, it can allow real estate agencies to monitor the call activity of their sales and marketing teams while automatically logging phone calls by contacts, companies or deals.
Push notifications can send reminders and time and location-based updates. The notifications are sent through an app or website to the user’s desktop or mobile device, can be personalised, and can contain rich media such as images or videos.
Like with any marketing tool, you should implement a well-thought-out strategy to ensure you don’t overwhelm, or underwhelm, your buyers and vendors. Consider using a posting schedule and adding personal touches that will appeal to your client database. Of course, incorporating creative and professionally-written copy is a must.
5. Email Segmentation and Automation
Chances are you don’t like the same things as your colleague or next-door neighbour. You have different food and entertainment preferences, and different needs for your family. The same goes for your real estate contacts. Grouping potential buyers into one basket and vendors into another is a marketing disaster waiting to happen.
Email segmentation is the process of sorting your database into various groups and categories. Your email subscribers can be broken down into groups based on age, location and behavioural patterns, such as how often they engage with your email marketing material. By segmenting your database you are able to create targeted content.
Automated software makes identifying segment groups easier. A CRM can help you identify specific behavioural traits, while your automated email database program will break down email open-rate activity. Thankfully, CRMs can integrate with your website to collect a wide range of data about your buyers’ and vendors’ activities and preferences.
These five marketing automation ideas won’t only make life easier, but they will also ensure your agency is at the top of its game, and known for its competency, accuracy and great communication.
Understanding marketing strategies, and the importance of concise and clear communication, is a must for business success. Follow us for more information on the latest marketing trends and insights within the real estate industry.