Real Estate Business Becomes Easy!Siddharth Naudiyal
The Real Estate business has traditionally been ad-hoc and unstructured. Real Estate Developers have always had a high dependence on brokers. Customer intimacy and structured cultivation of broker channels have remained neglected areas. Extreme competition in recent years and increase in the spending power of middle & upper middle class have however made the needs of Customer Centricity and Broker Management crucial to business success. Harnessing broker loyalty and up-sell/ cross-sell opportunities with existing customers have become as important, if not more, as seeking new customers. Many property developers and real estate managers are already managing buyers’ inquiries, investor relationships, and project information. However, you probably have a myriad of various disconnected systems – from Excel to rigid and unfriendly databases. These could hamper rather than empower your business.
DynaEstate – built on the world-class platform of Microsoft Dynamics CRM & other technologies – enables you to keep ‘the customer’ at the center of your business operations and enhance the productivity of your Marketing, Sales, Customer Care, and Broker Management operations.
Typical business pains experienced in Real estate businesses include:
Inquiry Leakages – High volume of incoming leads from various sources (website, email, SMS. IVR, referrals) result in salespeople & brokers getting consumed in some opportunities – and neglecting some others. Loss of leads, inefficient lead assignments, lack of formal sales pipeline tracking mechanism – results in dissatisfied patrons & high cumulative potential business loss.
Ad-hoc Broker Management – Inefficient Channel (Broker) Management – ineffective communication & scheme disbursal, poor performance tracking, slow-moving commissions, delayed grievance redressal and perceived lack of transparency – result in lack of broker loyalty & affects your brand in the market. This in turn results in potential revenue loss.
Disintegrated Customer Information – Customer Information is captured in different systems at different stages of the customer lifecycle – with duplications, gaps and often with errors. Customer data remains fragmented, unreliable and unusable. This results in absence of 3600 customer view, which in turn impacts Customer Experience, and often results in loss of referral opportunities.
Sub-Optimal Process Efficiency – Poor segmentation keeps marketing initiatives (events, fairs, email/SMS campaigns etc.) generic, making ROI and Channel effectiveness measurements tough.
Poor Customer Engagement – In a high transaction value industry like real estate, most customers demand regular correspondence & high level of service; the absence of which results in dissatisfaction & possible future retraction – impacting your brand. Customer experience is affected in the absence of constant engagement programs that are essential to sustain customer trust & boost referral revenue. Sluggish complaint handling & feedback mechanism increases the Turn-Around Time – resulting in further dissatisfaction.
At different times in your Real estate business, you must have come across any of the above-mentioned business pains or would have encountered the following questions – yourself or from any of your team members:
- Are inquiry leakages from different channels impacting your sales pipeline adversely?
- Are broker loyalty & performance management a major concern?
- Are you struggling to get visitors to your sites and improve conversion ratios?
- Are tracking marketing campaigns’ effectiveness and determining ROI a challenge?
- Does your business present an all-around and compelling customer experience & manage customer lifecycle effectively?
If the answers to any of the above questions are yes, then you might want to consider adopting the DynaEstate solution to improve your business efficiency.
DynaEstate Solution Landscape
Sales Force Automation – DynaEstate built on CRM for Real Estate helps you increase sales force productivity with sales funnel visibility, lead tagging, lead tracking, opportunity health assessment, daily sales activity analysis, real-time forecasts, and Sales team performance management. This structured approach improves the conversion ratio.
Marketing Automation – DynaEstate helps you create the marketing calendar with the ability to segment, plan, execute & analyze campaign performance – helping determine ROI & effectiveness. It facilitates lead ownership definition and automated proactive communication with prospects/customers/brokers with the help of workflow tool. This eventually helps enhance customer experience & build trust. You get data to plan your future marketing campaigns more effectively.
Enhanced Customer Experience – DynaEstate (built on CRM for Real Estate Industry) helps integrate with the Contact Center and provide 360-degree view of customer information. You can monitor any SLA (Service Level Agreement) breach & TAT (Turn Around Time), and ensure timely & effective queries/grievance resolution. A self-service Customer Portal may be custom-built and integrated to keep customers acquainted of their account information, payment schedule and project status and allow downloading of invoices & receipts. Besides, continuous communication maintained through targeted marketing campaigns & relevant correspondences also contribute to enhanced customer experience and help realize more cross-sell/ up-sell opportunities.
Broker Loyalty & Performance Management – Custom-built and integrated Broker Portal helps improve Broker Relationships & boost loyalty by ensuring transparency of lead status & customer information. It allows sharing of lead references & incentive status, validate bookings & keep a track of broker-wise performance. Recognizing and rewarding your most valuable brokers boosts your business, and provides information to help you cultivate new brokers.