What Is Social CRM And How Is It Relevant To The Real Estate Market?
We are all too familiar with the monotonously beeping telephone lines which greeted us on our futile attempts to call customer service whenever we had a malfunctioning gadget. Well, thankfully those days are well behind us, now the answers to any of our grievances are just a twitter tweet away! How is this possible? Well, here comes into play the role of social CRM or Customer Relationship Management.
What is social CRM?
Marketing has advanced in leaps and bounds in the past decade. Gone are the days where blatant advertisement on televisions and radios were the only viable methods of reaching out to the customers to make them aware of new products. The cardinal importance has now been transmuted to a more definite focal point which is the consumer. This led to the evolution of a new branch of marketing known as Customer Relationship Management or CRM. The purpose of implementing CRM is to replace the standard Excel sheet database with a new more advanced way of interactive data collection and database maintenance.
Social media occupy an integral part of every individual’s life. It not only connects us with other people but is also an excellent platform which enables companies to connect with their customers at an extremely personal level. This concept is best portrayed via the most popular form of CRM which is the social CRM.
Every one of us has a digital footprint in social media, which is a part of our day to day interactions and topics of discussions with our known associates. This, in turn, is extremely viable data for any company. Social CRM uses textual analysis to collect this data about potential customers, their demands and grievances and even reply to them in real time. Imagine getting Apple Customer Service simply by a post on Facebook!
How is it beneficial to the Real Estate?
Social CRM has had a gargantuan impact on every subject of marketing, not to mention the rapid growing Real Estate market. The revolutionization of Real Estate CRM Software has enabled real estate agents to move beyond stereotypical Excel spreadsheet databases or even having a contact manager per se. Automation of the entire digital marketing including automated email and even online lead generation can be easily achieved via social Real Estate CRM Software. Sustaining a healthy relation with past customers is of utmost importance in the real estate business and so is following up with new customers, and what better way than to it over a social media! The social aspect of CRM allows us to this with ease.
Interaction with customers
In any business, every customer has their own importance no matter how large or small their contribution. Through social Real Estate CRM Software, we get the opportunity to interact with each and every one of them on a personal level. This, in turn, convert them from simple customers to loyalists who put their faith and trust in us. This is turn results in positive feedback about the company and thus increased referrals.
The market today is an extremely intense one and to be of relevance in this market, social CRM is a quintessential necessity. More than 70% of real estate agents use social CRM to manage their database. Thus social CRM reduces a lot of physical labour by automating most of the state of the art marketing procedure.
Increase in efficiency
The use of social CRM generated an increase in efficiency of up to 50% as the manual workload reduces to almost half and so does the need for a larger workforce. This, in turn, generates a drastic increase in the revenue generated.
There are countless ways in which social CRM can help real estate agents manage their database, in fact, it’s an important tool for them to manage their entire business. The ideal way of getting the most out of social CRM is to be disciplined about using it such that the maximum benefit can be extracted out of it with very little effort.