This may seem simple, but using CRM software as the central source for capturing all leads and prospects is fundamental to the business of successful marketing & sales for home builders. Not just new leads – all leads, all prospects and preferably, all purchasers.
A central CRM system for gathering leads from disparate sources (website registrations, online directories, walk in registration cards, Outlook contact lists, excel worksheets) is core to:
- Establishing a consistent sales methodology (standard ratings, history and activity types)
- Establishing consistent sales follow up and nurturing processes
- Creating deep prospect profiles that include buyer interests, preferences and contact history
- Targeting email marketing campaigns that drive a ‘call to action’ and results
- Analyzing which media sources deliver the best returns (cost per lead, cost per purchaser)
Cost per lead is worthwhile to look at in more detail. For example Hubspot, an inbound marketing company, reported in a survey conducted in 2010 that the average cost of an inbound lead was $134/lead and outbound marketing dominated was $332/lead. Let’s be conservative and say the average cost was $200/lead. Extrapolate that for 100 leads, cost = $20,000, for 500 leads, cost = $100,000. Pinpointing those lead sources that drive best results will help you manage your marketing budget and, even more importantly, will drive more sales. Now consider the greater opportunity for improved sales and profits that come from a company standard sales methodology and consistent nurturing communications with prospects. A CRM system, with all your potential homebuyers in one central database, will pay for itself quickly and many many times over!