We’ve previously discussed how important it is to identify your target audience and properly market to them in order to grow your real estate business, but what about evaluating your analytics on a regular basis? What insights do real estate analytics tools offer? When do they become important to your success? Do you feel you have the proper transparency for your business and future pipeline?
It’s a Crowded Field...
Any real estate agent will tell you that their market is crowded. With talented agents and brokers networking strong connections and aggressive marketing efforts flooding your city, it can sometimes feel like you’re fighting for just a tiny piece of market share to call your own.
Because the target audience you’ve built marketing your real estate business can be fragile, it’s important that your content is specifically targeted so that it is easy for them to remain engaged. Their needs are constantly changing and you have to keep up.
What Works and What Doesn’t?
If you aren’t already using a robust real estate CRM that gives you dashboards and detailed analytics around your marketing, lead generation and relationship building activities, you’re missing out on a very important part of your business.
Identifying your target audience and nurturing those potential clients to ultimately convert them into revenue isn’t just about deciding who you think or want to be your ideal client. It’s about truly understanding what makes them tick, their pain points, specific needs and the type of content you share or actions you take that will make them want to work with you.
Using Trends & Big Data for Purposeful Action
What exactly is an analytical CRM dashboard? It’s typically associated as a key feature within a robust CRM tool and showcases the results of various activities of your business, marketing and client interactions. Reports that provide you with a 360° overview of your business help you to identify strengths, weaknesses and trends. In some instances, these dashboards may also be able to predict outcomes and discover insights for real estate agents and teams looking to be more purposeful with their activities.
So, how does a dashboard help a real estate agent or broker like you improve their business and increase sales? For you personally, analytical dashboards can point out efforts that aren’t making progress, activities that don’t drive action and small tactics that make large impacts.
With firm-wide dashboards, management and peers can benefit from healthy competition, transparency across the entire organization, increased efficiencies and consistencies across teams and an overall look into what is or isn’t working for the business.
Stop Spinning Your Wheels!
How do you know if what you’re doing is driving clients back to your real estate business if you’re not evaluating your analytics? Let’s look at it like this. What if we told you that 10% of your daily marketing efforts were driving 90% of your business? You’d probably drop the other 90% of your activities and focus all your time on that 10%, right? Stop spinning your wheels on activities that aren’t contributing to your bottom line. Start focusing on those real estate strategies that bring in the right business, at the right cost, which motivates you and your team to constantly improve.
Invest in Analytics
Taking control of your real estate business means utilizing your analytics and dashboards to work smarter, not harder. Focus on the activities driving the majority of your traffic and constantly test or refine to adjust to your audience’s needs. After all, you can’t influence what you don’t understand. Take control of your business in 2018.
SIMPLE. POWERFUL. FOR REAL ESTATE PROFESSIONALS.
If you’re interested in learning more about Propertybase real estate CRM technology, automation, or have questions on how to streamline your business strategies, please contact us! Click on Request Demo at the top of the page or contact us via email at firstname.lastname@example.org.