A real estate CRM is designed to keep you in touch with customers.
However, customers can be hard to define for most residential real estate agents because of transaction timeframes. They come and go.
Is a buyer that closed three years ago still a “customer?” What about a seller who moved to another city?
Because time is money, are real estate agents wasting it when a lead in their CRM hasn’t opened an email, reacted to a video text, or asked about the market in years?
In that case, when is it okay to kill a lead?
You can create tag structures to further define individuals or groups, and curate specific messages for all of them.
As inventory issues continue to impact the market in 2018, your hot buyer leads will require rapt attention in order to ensure they move quickly, and hot listing clients will need to navigate a world of multiple offers.
All that said, agents may not have the time to dedicate to unresponsive leads because the burden of current business will be too heavy and promises too much upside.
A best practice for agents to establish is to not hesitate to classify a lead as cold.
When that’s done, they’ll automatically become subject to whatever lead reengagement campaign you may have devised using LionDesk’s many marketing channels.
It shouldn’t end there.
Cold leads do need love, but only if there’s a chance of them waking up from the table after being jolted by a few messages.
We suggest creating a “no-response” benchmark. If a lead doesn’t respond after an enhanced drip campaign, which triggers automated follow-ups, or a targeted video text, cut ties sooner than later. Don’t let content energy be spent on those who don’t need it.
Cold Leads & Marketing Performance One of the most important reasons to track email and take notes on phone calls is to measure message effectiveness.
If half of your messages are falling on deaf inboxes, it becomes that much more difficult to manage your prospecting success: open rates fall, click-throughs to listings diminish, and you’re still managing their records within your CRM.
When response rates fall, it’s smart to examine what’s being sent. However, metrics will be misleading if the content is landing in the inbox of someone who doesn’t care about it.
Email is all about deliverability, best defined as the creative and operational tactics you take to ensure leads receive and engage with your content.
Creating a compelling, deliverable email campaign takes time and effort, and a major part of deliverability is sending relevant content.
How relevant is an article about staging to a person who decided four emails ago not to sell?
Continuing to send to inactive leads can also lead your brand to being marked as spam.
A Gmail user can whack your message as fast as a mouse click with the highly evident “This is Spam” button. And Google is listening to them.
Therefore, the smart move is to delete a contact before they can mark you as spam.
Those messages not marked as spam may go unopened after a certain amount of time or be deleted without being read, and both actions are tracked by inbox providers and contribute to your safe sender rating.
A cold lead is not a comment on you as an agent. Don’t let it hurt your pride, or worry that one day you’ll see them close a sale with a competitor.
We’re a CRM, we understand completely the importance of interacting with the people in your database.
The last thing we want to see is our customer base paying for a host of services that are being wasted on curb-kicking, cold-feet buyers and listing prospects who have already told you their sister-in-law has a license.
The sooner you move on from cold leads, the sooner you can tell someone your CRM is full of warm ones.