Marketing automation for the real estate market
Marketing automation is undoubtedly one of the main challenges that any modern real estate company faces with regards to marketing. Currently, it is not enough for brokers to have a CRM to manage their contacts, it is also necessary to have a marketing automation tool that allows them to nourish the customer throughout the purchase process and help the real estate agent understand which customers are most in the sales pipeline. Article written by partner Alt Group.
But what is marketing automation anyway?
The marketing automation is the process to automate certain repetitive tasks of marketing. It was developed to support multiple channels, so that your marketing efforts (and your brand) remain consistent in all aspects. Most marketing automation platforms support websites, emails and social media.
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Can't you see the importance of automation for your real estate?
The harsh reality is that the absence of a strategy that encompasses these tools may be leading to a fragmented fundraising effort and, consequently, to lost business that you don't even notice. Check out the image below.It is possible to note that the buying process in the real estate market is quite different.
The lead is just the beginning of the purchase process.
In the image below, provided by Zap Imóveis, you can understand what are the doubts and actions of customers throughout the purchase journey of a property.As you can see, the first thing that buyers do is to analyze their personal finances to understand whether they can buy a property and at what value. And here is a caveat, the expectation and the reality about what they can actually buy are different things, separated by an ocean away. We can also see that buyers contact brokers early in the purchase process. And then the frustration begins. Brokers, like all salespeople, want to sell, and fast! But in most cases, buyers need direction, useful advice and expertise. This conveys security, which is essential when making one of the most important purchases of a lifetime. Otherwise, the process locks up and the lead or broker changes or postpones the purchase until you feel more secure. And this is exactly where automation can help. Still not convinced? Let's go to some more information:
<![if !supportLists]>· <![endif]>More than 90% of leads are abandoned within 72 hours;
<![if !supportLists]>· <![endif]>Only 47% of leads are served within 24 hours;
<![if !supportLists]>· <![endif]>80% of sales are made to leads served within 24 hours ;
<![if !supportLists]>· <![endif]>72% of abandoned leads never interacted with a broker;
<![if !supportLists]>· <![endif]>90% of leads only receive one contact attempt;
<![if !supportLists]>· <![endif]>In the real estate market, it takes an average of 3 attempts to be able to make contact with the lead.
Source: Zap Imóveis Automation, then, can help to contact leads that your brokers are not servicing.
So, how do you start the implementation process?
The good news is that you don't have to be (or have on your team) a marketing genius to implement it in your own real estate. Before diving in, here are some important things we’re assuming for you:
<![if !supportLists]>· <![endif]>has a CRM;
<![if !supportLists]>· <![endif]>has a website;
<![if !supportLists]>· <![endif]>is investing in lead generation (Google Ads or Facebook Ads, for example);
<![if !supportLists]>· <![endif]>Want to save time for 'improving lead tracking and management'.
Your CRM must be the central system of the strategy. He must have all the leads in attendance at his real estate. Once you have your complete contact bank within a CRM, start targeting it. For example, leads that:
<![if !supportLists]>· <![endif]>are in attendance;
<![if !supportLists]>· <![endif]>visited real estate, did not continue the purchase process but also have not yet purchased a property;
<![if !supportLists]>· <![endif]>did not respond to brokers' first contacts;
<![if !supportLists]>· <![endif]>Purchased.
Important: most real estate agents segment the lead as simply inactive. I don't suggest that your real estate agent do that. Inactive puts leads in the same category that are potentially at different stages. The lead who visited a property but no longer responds should not be treated in the same way as a lead who never responded to a message on WhatsApp or answered the phone. After adjusting and cleaning your CRM, it's time to choose your automation tool. To find out which real estate marketing automation software to use, you need to ask a few questions. The responses will provide a guide for evaluating all available options.
Am I using attraction marketing (inbound) or prospecting (outbound)?
In general, there are two types of marketing: inbound and outbound. You can think of outbound as "push marketing", where you meet buyers (for example, cold call) in the hope of finding the right people for your properties. This marketing includes:
<![if !supportLists]>· <![endif]>Cold calling;
<![if !supportLists]>· <![endif]>Cold mailling;
<![if !supportLists]>· <![endif]>SMS.
On the other hand, you can think of inbound as "pull marketing", where you publish and distribute articles (for example, web content) that interested buyers search online. Inbound marketing includes:
<![if !supportLists]>· <![endif]>Ebooks and rich materials;
<![if !supportLists]>· <![endif]>Social media;
<![if !supportLists]>· <![endif]>Organic research;
<![if !supportLists]>· <![endif]>Emails to your list.
Which strategy do you use most often?
In reality, most real estate agents will use a mix of both. Outbound is good for creating initial brand awareness. Inbound is good for generating qualified leads and nurturing them. Both contribute to a healthy sales pipeline. Determining what type of marketing you use most can help you prioritize which automation software to consider. Some specialize in one or the other, and others cover both.
What tools do I need to integrate with?
You are probably already using a lot of software to manage your business. Marketing automation, for its maximum usefulness, must integrate with some of them. Examples of tools you can link to your marketing automation software:
<![if !supportLists]>· <![endif]>CRM (vital);
<![if !supportLists]>· <![endif]>Google Analytics (data);
<![if !supportLists]>· <![endif]>Facebook (social);
<![if !supportLists]>· <![endif]>LinkedIn (social).
Observe carefully which tools you could replace with marketing automation (email marketing, for example) and which tools you need to integrate (CRM, Google Analytics, etc.).
Important evaluation criteria
It is not just the software you are evaluating - there are other reasons for choosing one program over another. Here are some additional considerations.
Implementation and acceleration.
Setting up new software is not an easy task, especially one as complex as marketing automation software. Also think about speed. Who needs to learn and use this software regularly? Make sure you have the necessary training resources and that all brokers are on the same page.
Service and support.
Is support important? Are you or someone in your real estate company fluent in English or is it essential that the system offers support in Portuguese? It is worth asking yourself about services and support. What is included in your subscription? Knowing this can be essential to choose a national or foreign tool.
Values
Price is another key component. Most automation tools have different plans with unique features. But in addition, they charge an additional fee for the volume of contacts registered on the platform. Then a Soluc will apparently cheap can become a problem later and need a painful shift to a new platform, with new import costs, training and assembly.
Tool Suggestions
Below I made a list of the main tools to choose from:
<![if !supportLists]>· <![endif]>RD Station;
<![if !supportLists]>· <![endif]>Lead Lovers;
<![if !supportLists]>· <![endif]>Mautic (Open source);
<![if !supportLists]>· <![endif]>ActiveCampaign;
<![if !supportLists]>· <![endif]>Autopilot;
<![if !supportLists]>· <![endif]>Marketo.
Suggestions for better results
For best results with your tool
<![if !supportLists]>· <![endif]>Set up the SLA (agreement between marketing and sales on the quality of leads and when they should be passed on to the team of brokers);
<![if !supportLists]>· <![endif]>Configure Lead Scoring;
<![if !supportLists]>· <![endif]>Segment and automate the sending of offers by e-mail based on the profile: neighborhood of interest x type of property x bedrooms x values;
<![if !supportLists]>· <![endif]>Integrate CRM with the automation tool so that both exchange information about the lead's interactions with the website (pages visited), open emails so that brokers have access to this information;
<![if !supportLists]>· <![endif]>Switch between real estate offers and content aligned for each step of the purchase process;
<![if !supportLists]>· <![endif]>Integrate your tools natively or through Zapier and take your marketing to the next level.
Conclusion
Automation software is a fundamental tool for all modern real estate. In such a competitive market, he can be an incredible ally in nurturing your leads and closing new deals. So, you who have already implemented automation software in your real estate, are you getting results? Or do you intend to do that soon? Leave your answer in the comments!