3 Advanced Tips

By on Feb 6, 2020 in Marketing

The cost of a lost lead varies for each organization. Kaplan Real Estate Education estimates that the average cost of a lead ranges from $50 and $60. The total cost of acquisition is at least $3,000. That’s marketing spend, time, and potential revenue wasted.

The 3 tips below for capturing and recovering leads can help you make the most of your marketing dollars.

  1. Avoid lost leads with advanced CRM

Advanced customer relationship management (CRM) software equips you with everything that you need to capture leads, hone your marketing strategy, and reduce lost leads.

Your software should automate several tasks: the system uses call tracking numbers to identify your lead sources. Multi-point IVR phone trees can then route calls for improved customer service. Also within that first contact, the software makes it easy to log prospect data. Callers get the assistance that they need, and you can instantly create a profile for them.

You can then use that accurate data to immediately follow-up or schedule future contact. Customizable automated correspondences within the software enable leasing agents to stay on prospects’ radars without less time spent on writing messages and making calls.

When it is time for a live call, meeting or tour, automatic appointment reminders via email and text decrease the chances of missed opportunities. These reminders are sent to prospects and leasing agents through the CRM system.

You can access reminders and other automated services on a personalized dashboard.  Scheduled daily tasks, follow-ups, and other pertinent tasks are located on a single dashboard. The CRM dashboard makes its easier for you to nurture each lead.

While you’re going through your due diligence, your multi-source attribution software runs in the background, analyzing your lead sources and conversions. Its analytics can help you decide where to increase your marketing spend and identify strengths and opportunities in employee performance.

With robust CRM software in place, you can decrease lost leads and avoid lead recovery tactics.

  1. Offer 24/7 assistance

In today’s global market, you’re likely to receive inquiries at all times of day. Prospects contact businesses via phone, email, and increasingly by text and chatbot. If you’re unavailable to answer or take too long to respond, a savvier competitor will walk away with your deal.

On-demand live agent support is essential to capturing and nurturing leads even when your leasing office is closed.

  1. Activate lead recovery

Your first impression may not have resulted in a tour, much less a conversion. You still have a chance to earn their business.

Return to prospects who may have submitted contact information but did not visit your property. Make a recovery call to see if they are still searching for an apartment. If so, what needs remain unmet? This is a terrific opportunity to learn more about the prospect and address how your property may fit their requirements.

Lead recovery gives you the opportunity to save deals. Of equal importance, such calls allow you to learn more about the prospects that are responding to your marketing. Lastly, recovery efforts allow your team to make an excellent last impression, which may keep your brand on prospects’ list in the future.

Learn more about the modern lead journey in 5 steps.