Leads, leads, and more leads!
This line makes every business owner face shine with glee, and why not? Isn’t business all about leads and their conversion?
One such industry that remains flooded with leads is Real Estate. A constant demand and supply throughout the year keep this industry thriving and this outpour of customers, many times leads to delayed response. According to a study conducted by Prof. James. B. Oldroyd at MIT, your chances of reaching leads within 5 mins versus 30 minutes drop by 21 times.
The importance of every lead in the real estate industry can be precisely determined by this research finding:
“Housing sector’s contribution in India will be 11% of the total GDP, by 2020”
With the advent of mobile phones and affordable calling rates, phone calls have become the most favoured option of all the other communication medium. So, the need of the hour lies in opting for a comprehensive solution which can handle a large number of customer calls simultaneously and streamline the lead management process of the real-estate industry.
Interactive Voice Response – A Proven Solution
Cloud-based Interactive Voice Response (IVR) Systems has solved the lead collection and management trouble vastly by automatically attending, managing, and routing the calls. It broke barriers restricting the growth of the real estate business. Let’s understand how every process in the real estate business can exploit the unlimited benefits of IVR.
Promote Your Pre-Bookings
As a Real Estate owner, you have already fought many battles starting from land ntegotiations to paperwork complexities and from selecting an excellent construction design to finding workforce. Now, the next step towards your success lies in your pre-launch booking promotional strategies.
IVR here cements promotions with your prospects by utilising its features such as Toll-Free numbers, Text/Voice Broadcasting, Click-to-Call or API Integration in every stage.
How can you exactly use these services in your processes at different stages?
- Once your land acquisition and construction details are finalised, broadcast the details of the site over Text/Voice to your collected leads.
- Give a Call-to-Action in your text messages by providing a Missed Call number to collect interested leads.
- Integrate your IVR system with CRM software and store information of your interested leads for a smooth follow-up process.
- Buy a Toll-Free number and release it on your banners and billboards.
- Send Voice Broadcasts to potential customers in their local language to increase your reach.
Manage Your Leads
Once you are done with the pre-booking campaign, it is time to reap the benefits of promotion. Handling incoming pool of calls is a humongous task. However, after opting for IVR solution, many tasks get aligned that help agent automatically to channelise their efforts in lead management.
How can you utilise these services in handling leads?
- Design your toll-free routing structure in a way to direct your queries of different geographical areas to various A caller that wants to inquire about the “A” state will be redirected to the department “A”, on the selection of the correct option.
- Keep a log of all the missed calls not to miss any potential customers and return a call as soon as possible.
- Track the success or failure of the marketing campaigns through different virtual numbers assigned to every campaign.
- Send constant SMS updates of site development to the interested leads and keep them engaged with your services.
Ensure Customer Retention
As soon as a lead is converted into a customer, your yardstick of customer satisfaction starts to stretch or shrink. Converting a lead inevitably defines the success of your sales process, but customer retention and satisfaction shape the foundation of many future successes.
In fact, even a 5% increase in customer retention can boost your profits between 25 to 95 percent. So, following up with your existing customers is an indispensable factor in your business. How to strive for customer satisfaction with IVR features?
- Send regular construction SMS updates of their property to the customers and remove any scepticism that might be circulating their mind.
- Broadcast your toll-free number to all your customers so that they can inquire whenever in need.
- Send a voice broadcast, in case of any major changes or decisions of your business and build trust among customers.
- Create a separate option in your IVR for customer grievances and record them for thorough analysation for action.
- Conduct customer surveys regularly through a voice broadcasting channel or SMS broadcast to remain updated of your customer’s expectations.
The real estate industry is undoubtedly the most precarious and loaded sector, which increases the relevance of adapting to IVR solutions even more. With the increasing number of real estate customers and owners, IVR is sure to automatise half manual processes and decrease the day-to-day challenges of this sector. Moreover, with the prediction that
“Indian real estate market is expected to touch US$ 180 billion by 2020.”
You definitely can’t overlook the importance of profit yielded or lost from every lead.