Property management can be a constant cycle of managing existing tenants and finding new leads. Customer Relationship Management software can help property managers organize their leads. While they handle other management processes, CRM software can help with sales and customer data management.
Choosing the right CRM software can make all the difference in lead management. More than 32% of real estate companies are unsure about their choice of CRM. If you want to make the best choice, here are some questions that can help you decide which software suits your requirements better.
What are your main goals for using CRM software?
How does the software improve your current property management process?
What features should you look for?
What are your main goals for using CRM software?
Have a clear idea of your expectations from CRM. Whether it is better marketing or improved customer experience, here are all the possibilities of CRM software.
Improve your customer service
As a property manager, you will have several prospects with different requirements and financial situations. Even if they are interested in the same property, sending the same response to everyone doesn’t make the best impression.
Instead, with a property management software, you can understand the unique details of each prospect and send tailored responses to them. This shows your leads that they are valued, improving your chances of retaining them.
Increase the number of leads
CRM software can handle your advertising and sales smartly. By collecting data from various platforms, you get valuable insights to target the right audience. For example, certain platforms can have a larger number of people interested in renting two-bedroom houses.
Through CRM software, you can yield any such benefits for focusing on the right group and increasing your leads.
Automate lead follow-ups
You can gather information about your leads from different sources like social media or property agents. Simplify lead follow-up by sending automated emails and texts or allow you to send one quickly through its dashboard.
It can also organize and store all the lead data in a centralized database, so you can quickly access lead information when contacting them.
How does the software improve your current property management process?
As a property manager, you want to make sure that your investment in technology is worth it. A CRM software can be helpful only if it makes your existing property management processes more manageable.
You need to choose a software that helps with:
Better lead retention
Manual input using spreadsheets can be erroneous and inefficient. Through CRM, you can not only capture leads but also analyze and retain them smartly. The software collects data through various digital platforms, identifies better-performing campaigns, and schedules lead follow-ups. It also creates an integrated database of prospects, so you can easily access this information.
Increased productivity
Your sales team already works hard enough for lead conversion. Between various meetings and new strategies, focusing on customer relationships can be difficult.
Real estate CRM makes your team more efficient by improving sales productivity by 34% and sales accuracy by 42%. CRM enables your sales team to focus on other essential tasks by automating lead identification and management.
Higher sales
Most property managers focus on advertising and website lead generation while forgetting the most important thing--referrals. Existing customers and referrals drive 75% of real estate business. Yet, most companies fail to get a referral simply because they don’t ask.
CRM can take care of this by sending follow-up emails asking clients to refer you to other prospects. It can increase your sales and help you close deals faster.
Overall workflow
Customer relationship management can include several aspects, such as lead assignments and site visits. CRM software streamlines all the processes on a single platform. You can easily track the various elements and make plans accordingly. It also makes it easier to review and reassess the completed work through the database.
Accurate data analysis
Tracking your lead origin and response is important to know your best marketing channels. CRM software can help you collect such relevant data and provide accurate analysis so that you can modify your marketing strategy.
Multiple channel integration
If you have automated other aspects of your property management process, CRM can work seamlessly with them. By integrating all your tools into a single software through Assetsoft, you can streamline workflow between them.
For example, the data gathered by your CRM can be utilized by the forecasting software. This can only work if all your tools use a single database, which we can build for you.
What features should you look for?
Integrated ILS services
The first step to marketing your property is to ensure visibility. Several online platforms provide property listings, where clients can browse and select among different properties. CRMs having connections with many internet listing services (ILS) can give you more exposure to clients and drive occupancy.
You can also use them to keep your listings updated and attractive while marketing them across all available channels.
Email and text management systems
While effective marketing can bring in leads, it is constant communication that keeps them interested. A good CRM will include automated email and text message systems, whether follow-ups, offers, or answers to lead queries.
Timely replies to client emails can show that they are a priority to you. This will not only move them further down the sales funnel but also better your reputation.
AI-Powered chatbots
Chatbots are great for keeping your lead engaged by answering questions and collecting information. But unlike usual chatbots that rely on templated responses, AI-powered chatbots engage better.
They use Natural Language Processing to make the user experience more human-like. This means unique bot-generated replies to every question by the user, rather than limited pre-typed answers.
You can also use these bots for guided self-tours, scheduling visits, and forwarding queries when actual human engagement is needed.
Lead assignment
Every lead has different requirements. While your team may have experts in various areas, it doesn’t help if a maintenance query is assigned to a salesperson. Using CRM, you can ensure that each question is analyzed and forwarded to the right person who can solve it through his expertise. This makes the process easier and more efficient.
Dashboards
As a property manager, you will need to focus on various tasks within the CRM platform. The software which includes a dashboard can help you see all your activities in a single place. You can choose which one you want to work on while scheduling others for later. You can also review any completed tasks and modify them if needed.
If you have a team, you can easily assign them tasks through the dashboard. This can improve team productivity and ensure that your work is organized.
Alerts and notifications
What about the times when you are not viewing your CRM dashboard? Alerts and notifications can be a savior, especially if it is a high-priority task. If you have forwarded an assignment to one of your team members, the software can send email and text alerts for the query to be resolved. It can also remind you of any deadlines or tasks that have been incomplete for days.
Marketing features
One of the most important aspects of CRM is marketing. Whether it is collecting data through social media or placing ads for the target audience, CRM software can do it all. It can also collect data on the lead origin and analyze your best-performing platforms.
Compatibility with other platforms
As a property manager, you will be using several tools and software other than your CRM. If you want to utilize the data from one software on the other, you need to ensure that your CRM is compatible with all your tools. This creates a centralized database and eliminates duplicate data from all your tools.
Recommended CRM Software
RENTCafé CRM
This software by Yardi is ideal for your customer relationship needs. The simple user interface helps you convert more leads and get a better ROI on marketing. The features include lead notifications and follow-ups, activity dashboards, reporting, and data analysis.
Zoho CRM
A popular CRM software, it helps you streamline your lead nurturing process. It comes with several features like an AI-powered sales assistant, marketing automation, and a simple user interface.
Customer 360
Customer 360 is a software by Salesforce. The platform integrates several CRM essentials such as sales, IT, and analysis to make your experience smoother. The features include analytics, AI, sales, services, and much more.
Choose the right CRM through Assetsoft
Even with many options, you need CRM software that satisfies your unique requirements. It also needs to be compatible with all other software you use. At Assetsoft, we can help you choose the right CRM by integrating different tools. We can help you choose the right ERP and software, whether you are looking at MRI, Zoho, UiPath, Salesforce, or Yardi.
Through our technology selection advisory, you can understand how each feature makes your customer management better. No matter the size and type of your company, we can find the right software solutions for you.