Every real estate company essentially has the same goal – to reach more potential homebuyers and sell more. But with the market becoming more and more competitive, most companies find it hard to communicate the correct message and stand out. This is one of the main reasons why marketing has gained a new status of importance in the field.
Marketing affects everything in your business – the way customers see it, what they think about it and what message they receive from it. It has the power to increase or decrease market awareness for a company substantially. It helps generate brand awareness and creates an image of your brand for your target audience.
Without these two things, even with an amazing product or service, a company wouldn’t be able to grow and succeed. The main idea behind the marketing function is to study potential customers, understand their needs and predict their interests.
Because of its importance, marketing has been gaining more attention than ever in 2019, with real estate companies attempting to allocate at least a small budget for it. Nevertheless, it is still an exception to see a proper marketing department in one of them.
Usually, sales managers or agents have to take on the role of marketing in parallel to their own, resulting in low performances in both.
Thankfully, with the rise of PropTech, there are now solutions on the market that can help both marketing departments and marketing individuals optimise their work and perform better. The next step is for real estate companies to actually start investing in these solutions.
Enhancing your team with marketing automation tools can solve a number of key problems that may be pulling your business down. First of all, it will allow your team to keep proper sales documentation and guarantee that all the brought in leads will never be lost or forgotten.
79% of marketing leads never convert to sales mostly because of a lack of lead nurturing. It’s much easier to keep track of things and follow up on time when all the needed information is organised and easily accessed. Companies that have organised their databases are more effective in lead nurturing, and thus generate 50% more sales-ready leads at a 33% lower cost.
Furthermore, according to research by The Annuitas Group, businesses that use marketing automation to nurture prospects experience a 451% increase in qualified leads. With automation, your marketing and sales teams will be able to share databases, leave comments and notes for each other, eliminate any unneeded communications and always keep their hands on the pulse.
88% of marketers even said that automation helped them reduce the time they spent on preparing reports and analysis and provided them with more time for campaign strategy and overall planning.
Automation doesn’t just help to organise customer communications, it also helps to increase their quality. A report by Accenture points out that 58% of buyers would switch half or more of their spending to a provider that excels at personalising experiences without compromising trust.
New generation marketing automation tools provide valuable insights into the customers’ preferences and into the success level of each marketing campaign, thus educating marketing specialists on what, when and how to say things. They allow them to personalise each message in order to form a strong bond with the client and look beyond traditional sources of information.
Targeted emails are 3x more likely to bring in revenue as compared to non-targeted emails. They improve click-through rates by 14% and conversion rates by over 10% and are 30% more likely to be opened. This is why companies, whose marketing messages manage to remain relevant to clients and who use predictive analysis, see a definite increase in their ROI and client experience.
In summary, the 2 essential things any real estate company needs to be successful is a high level of service and marketing. Investing in a marketing automation tool such as a CRM System, will save time for your team and increase revenue for your business. Research shows that CRM usage increases revenue by 41% per salesperson. Surviving in this competitive landscape is already hard enough, so companies should invest in all the benefits that marketing automation brings.