According to one study, within four years, the bulk of spending for enterprise software will be for CRM technology. Why? Because studies show that when you nurture your clients, you get a return on investment 45% higher than those companies that do not. Moreover, sales increase by 20% from leads that have been nurtured.
5 Ways a Quality CRM Steps Up Your Nurturing Game
Client nurturing helps to build relationships and therefore trust between brokers and their clients. That takes time and effort. A quality CRM can take those efforts and make them effortless in a number of different ways. Here are just 5:
#1: Makes Outreach Simple
We recommend reaching out to old and new prospects every week or at the very least, once a month. It only takes 15 minutes to do so and when you do, you may get new leads from old contacts that you did not expect.
When you use a quality CRM that automates a lot of this work by sending alerts, automating responses, reminding you to follow up, and organizing contacts based on a timetable, outreach is made so simple that client nurturing is much easier.
#2: Improves Marketing Capabilities
In some industries sales and marketing leads are broken up into two different teams. In a brokerage, you are both the sales and marketing team which adds up to a lot of work and time. But when you use a quality CRM, a lot of the marketing work is strategized for you.
First, it has all of the sales and lead information that you need to make a really strong pitch. Then instead of guessing when it is a good time to follow up with a client, your CRM can create marketing campaigns on a timeline for you.
#3: Keeps Prospects Engaged
SuperOffice recommends thinking of client nurturing as “the dating period where two people get to know each other before getting married.” This is the period of time when you build liking for each other and trust. You share with them exclusive information and you offer them rewards for their loyalty. You do a number of things to keep them engaged until they are ready to commit.
If you are not approaching your prospects this way you will lose them. On first contact, Marketing Sherpa reports that over 73% are “not ready to buy.” If you jump the gun you could lose what is estimated to be $1 trillion annually due to prospect mismanagement.
#4: Makes Follow Up Easy
Outreach and follow up are two different things. Outreach is what you do in the beginning (making the advance in the dating analogy). Follow up is calling for that all important second, third, and fourth date. Just like in dating, timing is very important and the way that you approach your leads will either spook them or reel them in.
Find a quality CRM that helps you to create strong client profiles so that follow up is useful to them. Each time you reach out to a prospect make sure it is worth their while.
#5: Allows Precise Client Targeting
Finally targeting is a big part of lead nurturing. You have to target your message to where your prospects are in your courtship. If you just met, your initial email blast will be different from the fourth email you’re sending to your subscribers who are already buying in. Quality CRM helps you be smart about targeting your clients and doing it with precision to get the best results.