Boost Your Deal Flow with This Easy Step

Deal flow is the rate at which business proposals and pitches are received.

Investors, including investors in commercial real estate, use this as a general barometer of whether business is good or bad. The same term is also used, alongside lead generation, among real estate professionals focused on residential property. More referrals lead to better deal flow overall.

Leveraging marketing automation technology is a key step in accelerating real estate deal flow. Although there are many tools that can help, the cornerstone of any strategy is CRM. CRM, short for Customer Relationship Management, enhances visibility across your customer ecosystem.

A powerful all-in-one solution is no longer nice to have; it is an absolute must-have.

A CRM serves your needs in three powerful ways:

• It provides complete visibility into where your leads and current customers stand in their transactions
• It enables you to nurture your leads consistently using personalized email marketing and other tools
• It strengthens your ability to follow up with leads and past customers to get more deals and referrals

Not long ago, only a fraction of real estate agents used a CRM. Now, the tottering old "technology stacks" of yore, built of a dozen apps that don't work together, are giving way to centralized solutions. By using CRM effectively, you benefit yourself and your clients.

When it comes to deal flow acceleration, a single technique can bring your business to the next level.

CRM-Based Audience Segmentation Improves Deal Flow through Targeted, Personalized Messaging

Your email marketing list is one of your most valuable business assets.

That's because your list is packed with people who have a definite, pre-existing relationship with you and are amenable to hearing what you have to say. You have the power to significantly influence subscribers, making customer conversions more likely at times when they benefit you most.

You can also use the same resources to stay connected with past customers and acquire referrals.

But what's the best way to differentiate your messages so they remain relevant and welcome?

Audience segmentation means refining your email list by placing subscribers into sub-lists, called segments, that match up with your relationship and their interests. Using segmentation, you can make sure subscribers get only the most targeted and relevant information. That makes it more likely they'll take action.

5 Ways to Boost Your Monthly Deal Flow Using Audience Segmentation

There are many situations where segmentation creates better experiences for your contacts. Your CRM can turn your single list into a seamless collection of highly focused sub-lists in a matter of just minutes. That means you will get better ROI from your email drip campaigns and can expect a fuller schedule overall.

Let's look at some audience segments that can bolster your business:

• Past Customers - Audience segmentation is particularly important when current customers close their deals and become past customers. They will no longer need content on negotiating a buy or finding financing, for example. You can keep the conversation flowing with these subscribers by sending them information on homeownership, DIY repair, decorating, and more. The more you know about their interests, the better.

• Cold Leads - When leads have gone cold, it is a wise idea to activate a special sub-list for them. Use email in conjunction with text message marketing to reignite the conversation. If you can verify that someone is still looking for a home, then they return to your current leads list. Your cold leads list can leverage urgency and limited-time offers to spur action. If a lead remains cold for months, however, it is polite to pause messages and circle back later.

• "Love List" - Your "Love List" consists of your customers who have demonstrated they were not just satisfied with your work, but thrilled. For example, they might have given you 5-star reviews on multiple platforms without you even raising the subject. They deserve a special list category because you will want to pepper your messaging with personalized check-ins. It is okay to ask your Love List for referrals several times a year!

• Open House Attendees - Open house registrants who actually show up are clearly on their way to a purchase — the question is when they'll find the right home for them. Follow up with attendees you don't hear from right away, using a text, call, email, or even a social media message to see what they thought of the property.

• Open House No-Shows - Open house no-shows can stay on a list segment, ensuring they get future invitations to local events. But you should also touch base to see if you can find out what happened. Did other commitments come up, or was the house a dud? If you've done a virtual tour, be sure to send the link.

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To view the original article, visit the Delta Media Group blog.