Property Developers, Increase Revenue with 3 Marketing & Sales Upgrades

Traditionally, most property development companies use conventional marketing tactics such as print marketing, billboards, magazines, and radio. While these methods can, and have seen a lot of success, average spending on traditional marketing by property developers has been declining steadily for the past 10 years. These methods just don't have the same level of capabilities, reach, and insights that digital marketing can provide.

A big contributor to the growing success of digital marketing tactics for the property development sector is the increasing efficiency and effectiveness of marketing and sales technologies.

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Let's take a look at 3 marketing and sales technology upgrades property developers can make in order to increase their own efficiency, and ultimately their revenue.

1. The Customer Relationship Manager (CRM)

The CRM is a great tool that allows sales and marketing team members to see and automatically update customer data, track and be alerted to customer interactions with your website and other digital assets, and improve the lifetime value of each individual prospect.

How do I know if it's time for an upgrade?

  • Is your team tracking all lead and customer activity separately or from a single platform?
  • Are you still using spreadsheets to track leads and customers?
  • Is your current CRM being automatically populated or do you have to track down and manually enter new information?
  • How specific is the data that you track? Do you understand how your leads are interacting with your marketing?
  • Does your CRM automatically score your leads for you and notify you when a lead becomes Sales Qualified?

How would an upgrade help me increase my revenue?

  • Your efficiency at tracking leads will increase - leaving more time for your teams to focus on people over data tracking.
  • Fewer leads will fall through the cracks, and every lead will be properly nurtured.
  • You'll be able to track more specific and useful data in lead scoring and lead nurturing.

Upgrading your CRM is not a marketing strategy in and of itself, but the CRM is quickly becoming one of the smartest and most essential marketing tools for any business. The value of this tool is even more apparent for property developers. Your leads require more nurturing than average, and your market is smaller than many other industries leaving no room for lost opportunities.

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2. Marketing Automation

Marketing Automation is one of the most powerful technologies available to marketing teams today. The technology itself allows you to condense and automate the mundane tasks of any marketing team social media, email marketing, and CRM data entry to name a few.

However, when you couple this technology with an intelligent lead capture or lead nurturing strategy, the value of marketing automation exponentially increases. The goal of marketing automation isn't just to make your life easier the goal is to take successful strategies and scale them up.

How do I know if it's time for an upgrade?

  • Are you spending too much time on simple marketing tasks, like social media or email?
  • Are you having trouble tracking leads through the nurturing process?
  • Are you generating a steady flow of new leads?
  • Do you want to increase the percentage of new leads that are Marketing Qualified?

How would an upgrade help me increase my revenue?

  • More, better leads. The process that works for you now can become faster and more efficient.
  • Less lead decay. You can decrease your lead drop-off rate and market to a larger audience.
  • More insight into your lead's activity, which results in more effective nurturing.

You're not a bankrupt property developer, so it's clear that you have a somewhat successful marketing and sales process working for you. Marketing Automation is the right upgrade for property developers who have a good strategy but need more time to execute it.

3. Artificial Intelligence & Data Insight

Many aren't even aware of the ways artificial intelligence is already revolutionizing the way we can quickly and easily digest data and turn it into valuable insight. AI's abilities to process data go far beyond simple web analytics - all the way to the core of every interaction between you and your leads and customers.

The AI tools you use will depend on the data insights that would be most helpful, but a common theme among all of these available tools is their ability to look at all of the user data you collect and use it to optimize specific marketing tactics for your exact audience.

In addition, great progress is being made on AI's ability to more effectively streamline the sales process by connecting users and sales people more quickly and thoughtfully.

How do I know if it's time for an upgrade?

  • Do you have a huge amount of disjointed content that has been produced over the course of many years?
  • Do you want to connect leads to sales in a faster, more personal way?
  • Are there metrics you wish you could track, but you're not sure how?
  • Do you want to improve your buyer personas to better match your actual audience?
  • Are you under-performing in certain marketing channels for no apparent reason?
  • Do you need help experimenting with new content in a way that produces meaningful results?
  • Are you unable to visualize the data that you're collecting?

How would an upgrade help me increase my revenue?

  • Intelligently prune and optimize your existing and future content to be more effective for search rankings and conversions.
  • Build better relationships and shorten the time to qualify leads.
  • Uncover valuable insights that help you to focus on and develop more profitable streams of revenue.
  • Create more accurate buyer personas and scenarios that boost conversion rates.
  • Increase the general effectiveness and efficiency of all of your marketing efforts.

Artificial intelligence has beneficial applications for any industry or sector, but the property development sector is especially ideal for these applications because of your emphasis on relationship marketing.

AI is extremely effective at understanding audiences and producing valuable insights, and applied properly is an excellent tool for improving the quality of your one-on-one human connections.

Do you need an upgrade?

Consider your sales and marketing processes and ask yourself whether the bottleneck preventing you from increasing your revenue is internal or external. External factors will always be present for any property developer, but if you can pinpoint even one internal obstruction, consider one of these relatively low-cost upgrades.

Experience has taught us that any one of these marketing and sales technologies can prove to be a quick win for short and long term revenue growth. If you would like to see any of these technologies in action, or if you want to know more about how different technologies could meet your specific needs, schedule a no-hassle conversation with one of our strategists today.

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Posted by Sam Gerdt on October 17, 2018 in Marketing Technology | 0 Comments