Two weeks ago, Myers Barnes posted this article on his blog discussing four ways to plug homebuilder profit leaks. Point number four was all about improving efficiencies, which got me thinking – this, in a nutshell, is exactly what CRM helps to do. Here’s what Myers had to say:
“[Improving efficiencies is] where you have the greatest opportunity to make significant progress on your bottom line profit. Your inefficiencies are the leaks in your operation. Drip, drip, drip. You continue to do things as you’ve always done them. Why? Because that’s what you know and it’s the way you’ve always done it. Can you see the hole in that logic?”
So how does CRM improve efficiencies, or better yet, eliminate inefficiencies, for homebuilders and real estate developers?
- Cuts Out the Paper Trail – By having all information in one, centralized location that’s accessible to sales, marketing and management, there’s no need to update contact cards, rolodexes or any other antiquated methods of organization. With CRM software, you’re able to keep a record of all communities, communication, information, and documents in one place.
- Takes the Guesswork Out of Follow-up – Through the use of instant lead notification, sales processes, automatic reminders and task lists, not one lead or prospect will slip through the cracks. Every lead gets an immediate response and is nurtured throughout the sales process. Throw those Post-it notes away!
- Email Marketing and Inventory Management Built In – A CRM system like Lasso takes the place of three separate databases. Email campaigns and inventory units are assigned to prospect profiles, so there’s no need to download, manipulate and merge disparate spreadsheets.
- Fast, Accurate Reporting – What you need to know, when you need to know it. A CRM system can generate real-time, comprehensible reports on any data that’s been entered. In fact, Lasso offers nearly 30 built-in reports, and can customize any report based on client needs.
The next time you’re analyzing how to improve efficiencies, look first to your CRM system. You may not be using it to its full potential, or it may be time to invest in one that’s custom built for your new home needs.