Does it feel like you’re always hunting for fresh new leads? You’re certainly not alone. When you work in the mortgage and real estate business, you have to be constantly on the lookout for new opportunities. Luckily, you may not have to look as far as you thought for those potential future successes: There could be plenty of missed opportunities right there in your CRM database.
Your Database Contains Buried Treasure
Every contact in your database is a result of work you’ve already done. But if you never connect with those people again, that work may never pay off. Studies show that acquiring a new customer can be up to25% more expensive than retaining an existing one. So why are you dedicating so much time and energy to digging up new leads, but neglecting a database full of less costly opportunities that you already have a foot in the door with?
For every contact in your database, you already have some information. Whether that information is in-depth or superficial, it can still contain signs that indicate that they are a good prospect for a sale. By identifying these signs, you can
They weren’t ready. Maybe when you first connected with this person, they weren’t in a good position to close. It’s been a while… might they be in the right position now?
You weren’t ready. Over time, you make changes to better serve your customers. Just because you didn’t have what that contact needed when you first met doesn’t mean you don’t have it now.
You made the wrong moves. Not everyone responds to the same content, questions, or offers the same way. Why not try again with a different tactic?
And of course, your database is also full of opportunities that
Want More Sales? Maintain a Clean Database
Of course, finding those opportunities can be a time-consuming and frustrating undertaking if your database isn’t clean. The cleaner and more organized your CRM database
Keeping your database clean means keeping it organized, up-to-date, and accurate. Bad data can waste your time, kill the effectiveness of your marketing, and even make you lose sales. Staying on top of your database is key to ensuring it’s a useful tool instead of a messy timesink.
To have a well-managed database, you need to conduct regular maintenance on it. Imagine that you have a closet into which you shove all your clothes, shoes, and accessories in a messy pile. Finding a specific garment would be frustrating and
And of course, checking in with your database regularly will keep you familiar with your contacts, making it easier to form those personal relationships that build trust and ultimately lead to more sales and referrals. The right CRM will make this process easy — or even automated. Inaccurate data can sabotage even the best marketing campaigns, so banishing it from your database needs to be step one to finding and connecting with those missed opportunities.
You’ve Found Them — Now What?
Okay, you’ve found the missed opportunities and potential leads in your existing database. Now how do you connect with them and get the ball rolling?
First of all, it’s imperative that you do everything you can to stay top-of-mind for everyone in your database, even those who may not be ready for the next step yet. You should be staying in touch
Segmentation can keep that automated content targeted and prevent it from coming off as canned. But in order to perform segmentation effectively, you need to understand each segment of your list: What they want, where they are in the sales funnel, and how to get them to engage with you. Chances are, even if you’re already using segmentation to reach leads and business partners, you aren’t reaching all of them as well as you could be. Identifying which of your contacts are being neglected allows you to build new campaigns to address their needs, and improve your existing programs to better suit them. For all you know, some of those neglected contacts are ready to close — but only if someone sends them the right email or makes the right call. Make sure you’re that someone.
You never know when somebody is going to be ready to take the next step. By using the right campaigns and staying in regular contact with everyone in your database, they’re more likely to think of you when that time arrives.
The Right Database Can Always Deliver
Mining your database for missed opportunities or opportunities that have developed over time is a great way to take advantage of the work you’ve already done connecting with those contacts. Automated marketing can be a time-saver and a useful way to stay top-of-mind with your leads, past customers, and business partners, but it’s not enough on its own. You need to cement those relationships by reaching out to the contacts that have been primed by your automated marketing and forming a real connection. Your email and direct mail campaigns can’t build relationships on their own, but they can be a strong foundation on which to do so.
The right mortgage CRM won’t just keep your contacts organized and automatically push out email campaigns. The right CRM will facilitate that personal level of relationship building, too. You shouldn’t have to worry about doing the day-to-day legwork of maintaining a clean