To be useful, your contact management data must be accurate and up to date. Besides attracting new clients, managing your listings, and servicing your current clients, having accurate and up-to-date contact management data is core to your business’s success.
Beyond investing money into a top-of-the-range CRM, making sure your customer data is updated constantly is more critical than uploading your listings or chasing after new clients.
Your customer relationship integrity depends on the integrity of your contact data. Without integrity, your real estate business is highly vulnerable. It is therefore important to keep your CRM clean for the following reasons:
1. Unreliable or Corrupted Data Costs You Money
A CRM database could be unreliable for a number of reasons. First, it may contain corrupted or duplicate data that makes it difficult to use. Second, some critical data for closing a real estate deal could be missing, making the possibility of losing a sale very real. The CRM database may also contain outdated, hence unreliable, data that is not helpful to neither the agents nor the clients. Consider the fact that a bad record could cost your company hundreds or even thousands of dollars while keeping it clean and reliable only costs $1 or less for every record.
2. To Maintain a Professional Image before Your Clients and Leads
Real estate is all about fostering relationships and keeping the customer happy at all times. A good CRM system can help you achieve this objective by managing and cultivating enduring relationships. If you project the right image before clients and leads, it becomes easier to close a deal without much hassle. At the end of the day, your ROI depends on whether you close a deal or not. Compromised data jeopardizes the effectiveness of your CRM system.
You might end up irritating leads by mailing to wrong addresses or repeatedly going after the same lead. It is important to demonstrate that your real estate firm is at the top of its game when communicating with existing clients and new leads. Make sure you are fully conversant with your CRM’s features and clean up your database to maintain a professional image that clients can trust.
3. To Increase Conversions
At the end of the day, the endgame scenario, the reason you need a reliable CRM that helps you project a professional image, is to ramp up your conversion rate. Making sure your CRM is spanking clean is the foundation of turning both reluctant and sold clients into actual sales. A clean CRM system is a joy to use, and knowing you can rely on it and the reports it produces can be a tiebreaker in the contest of your business’s success. Besides, making sure it stays clean by establishing cast-in-stone best practices and guidelines that are religiously adhered to is the basis of a database that can be relied on for results.
With reliable data at their fingertips, your agents will be able to use the existing tools to target the right people at strategic times and as a result foster enduring relationships that are a breeding ground for conversions.
While spring-cleaning your database is a challenging task, starting the process sets you on an express path to success, which is your business’s ultimate goal. The best place to ensure the integrity of your data is at the data entry point. Make sure the entered data is accurate, reliable and devoid of duplication. Coming up with clear guidelines for teams to follow while interacting with data such as how to manage listings, contacts or leads is critical to having a CRM database that you can depend on for results.