A marketing database, also known as a Customer Relationship Management tool (CRM), allows agents to store information on every potential customer in one place. This simplifies the process of approaching prospective new landlords – and hugely increase opportunities to grow your business.
It’s really surprising that so many letting agents aren’t building an effective database of prospects - especially since data capture is something plenty of other industries have embraced because it makes business growth so much easier.
As customers, we’re asked for our email address everywhere we go – when we buy online or from a shop, or log into public Wi-Fi. Not only does this exemplify how important data is – it also shows how readily customers will share their details with businesses.
The alternative is the time-intensive process of chasing leads which can also lead to a "feast/famine" existence where sometimes you’re lucky and sometimes it’s a real challenge to find anyone to call.
There are five steps I'd recommend when it comes to setting up and using a CRM database:
Choose the software you’ll use wisely. Pricing will depend on the size of your database and how many emails you plan to send per month.
You have many different options for growing your database - from asking landlords for their email address when they access content on your website, to running seminars or events which landlords can book on to.
You won’t want to send the same email to everyone on your database, so split them up into different sections.
For example, you might have a group of HMO landlords, some with a large portfolio, and others who are looking to acquire new properties - all will benefit from tailored content according to their circumstances.
Create content which you’ll send to each of these groups, to nurture them in the same way you would if you were having a phone call with them or speaking to them face-to-face.
There’s no use putting all that work in without then aiming to turn them from a prospect into a customer - and following these steps will make this final hurdle easier to overcome.
A guest blog by Sally Lawson, CEO & Founder at Agent Rainmaker. Head to agentrainmaker.co.uk for more information.