CRM – Convert Return on Marketing
Category: Customer Relationship Management | Author: Dave Clements | Posted: August 16, 2011
The common meaning of the acronym CRM is Customer Relationship Management. For homebuilders today perhaps a more urgent definition for CRM is Convert Return on Marketing.
Consider the following:
- Feedback from several of our homebuilder clients confirms the typical average cost is $230-300 per lead (and these are not all leads, just those leads that actually visit model homes/sales centers).
- Studies repeatedly show that, on average, it takes 5-12 contacts to make a sale.
- Three ‘shopping’ reports, specific to homebuilders across the US, conducted in the past eighteen months found that typically 50% of agents follow up with an email and about 20% with a phone call.
There is no question builders need to invest $ in online and offline marketing and an effective website is a core foundation piece to capture the interest and attention of prospective homebuyers. The other technology foundation to convert marketing (and sales) costs into purchasers and revenue is a CRM system that manages those valuable leads and enables a repeatable coachable sales process that can be tracked for success.
