Database Marketing Tips Real Estate Professionals

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Here are a few ways you can stay productive simply by leveraging your existing client database.

Increase Your Client Prospecting Time

One thing we know of certain is that during this time, it is going to take more leads to accomplish your goals today than it did before the crisis. Which means, your lead prospecting time will have to increase. Prospecting has always been one of the most important weekly tasks for property agents. The important thing to remember is that there is still opportunity out there. There are still leads, still buyers and sellers, you just need to work a little harder.
 
Take this time to do an audit your lead generation strategy. It’s a good time to increase your online property lead generation and change your marketing strategies that are no longer working in the coming months. For example; change your viewing plans to include virtual property tours. Instead of hosting a property event, consider doing a live property webinar for your audience

Search For ‘Golden” Leads In Your Existing Database

Since property prices are slowly decreasing, there may have been people in your database that were looking prior to the housing price increase and will continue to look during and after the interest rates have risen. In fact, there may be many people who weren’t seriously looking to move or buy prior to this situation who have since realised there is opportunity in the market to get a better deal, and will be more close to making a big decision.

These are the “Golden” opportunities to look out for. During this time period of uncertainty, people are spending a lot more time browsing online, so it’s important to stay on top of your database and property CRM to engage your network to see which leads are closer to making a decision.



 

Reconnect with Your Entire Network & Be a Guide For Your Community

One of the most important things people are looking for right now is accurate real estate data & information. People want to be reassured and they want trustworthy information about the market. You have an opportunity here to reconnect with past, current, and prospective clients to check in and offer your help. Make a list of the ways you can help them, whether it’s simply connecting them to another useful resource or sending them valuable property insights. Remember alot of people are still stuck at home in front of their computers and will inevitably be spending more time looking at their next dream property or simply one at a really good deal.

Understand Your Data And Metrics

Now more than ever, being a data-driven real estate professional is critical. There are plenty of numbers you can look at from your database to help strategise your new game plan for 2023. For example, figuring out the average number of leads that you need to generate in order to get a qualified prospect. Or the average number of Whatsapp texts you need to send before moving forward with a viewing, getting a closing, etc. And if this is something you haven’t been tracking – now is the perfect time to start.
 
You can also start tracking your follow-up & response time, because just generating leads isn’t enough. It’s the follow-up and persistent communication that comes next that truly matters. Ask yourself, how is your follow-up process? Track and measure your speed-to-engage as well as your response rates. If you’re using a CRM that tracks these things for you and schedules to-dos, be diligent with your CRM system.
 
Another thing to track is your lead conversion & closing rates: These numbers are critical to stay at your best, because they directly tie to your transaction volume. When you are clear on how many leads you’re converting to viewings and how many deals you’re closing, you can pinpoint where you need to improve, and estimate how many leads you need in order to reach your sales targets. Good luck
 

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