Looking for a CRM
You’re a real estate agent in the market for a customer relationship management (CRM) system but there are just so many choices.
Some CRMs are specifically designed for the real estate industry while others don’t have a specific focus but instead are said to be effective for professionals across multiple verticals.
So, are all CRMs created equal? Not exactly. In this article, I’ll discuss the differences between a general purpose CRM and one that has been specifically designed for REALTORS®.
As a real estate sales professional, I believe you should get on board with a CRM that is real estate specific – a real estate CRM. There are many key factors that distinguish a real estate CRM from a general purpose one and these differences will directly impact the benefits and rewards you can expect to reap from the system.
A real estate CRM is a system that has been designed and developed with the unique needs of Realtors in mind. All the features were created for real estate sales professionals which mean that there’s no “fluff” or functionality not applicable or beneficial to you and your business.
A good real estate CRM will have an “Active Business” area of the system where you can go to organize and manage your current buyers and their requirements as well as current active listings.
Moreover, a good real estate CRM will include email, letter, e-flyer, and e-newsletter templates that are real estate specific. There won’t be one email or letter created that’s not applicable for you as a real estate agent.
But it’s not only real estate specific marketing pieces that you need to think about when comparing CRMs. Many systems have drip email functionality with pre-designed drip marketing programs. You need to ask this important question: “Does the system have drip marketing programs for me to use that are proven to be effective for real estate agents?” If the answer is no, you may want to re-consider the particular CRM in question.
Drip marketing through CRMs
Let’s talk about drip marketing for a moment. Drip marketing is valuable because it helps you stay in touch with important prospects and clients in an easy, time-effective manner.
As a Realtor, you want your real estate contact management system to have pre-designed drip marketing campaigns built for you that are meant for keeping in touch with your sphere of influence (SOI), converting warm or hot leads into clients, marketing to for-sale-by-owners (FSBOs), and more. Only a CRM that specializes in real estate will have a myriad of effective campaigns designed for these purposes.
Activity Plans and reports
An effective CRM for real estate will have Activity Plans for listings and closings. You’ll find that these Activity Plans will help you become more proactive and save you a ton of time. Listing and closing Activity Plans outline the steps you need to take in order to list and close a home. Your CRM system should remind you, at the appropriate time, when you need to perform a particular task or step to ensure that nothing falls through the cracks.
Lastly, the reporting functionality that CRMs provide motivate a lot of Realtors to incorporate a CRM into their business.
Reports can provide you with useful information on your business – for example, where you’re getting most of your clients from, where you’re getting your referrals, etc – so you can take the right actions to become more successful. A real estate CRM will make it easy for you to run all the important reports that you will want to run to grow your real estate sales business.
Making a choice
Not all CRMs are created equal. At the end of the day, you need to chose a CRM that will provide you with the most business benefits and that you believe you’ll actually use on a daily basis. But remember, you wouldn’t compare an apple with a pear, so don’t put a general purpose CRM and an industry specific CRM in the same boat.
How a Facebook boycott ended up benefitting Snapchat and Pinterest
(MARKETING) Businesses are pulling ad spends from Facebook following “Stop Hate for Profit” social media campaign, and Snapchat and Pinterest are profiting from it.
In June, the “Stop Hate for Profit” campaign demanded social media companies be held accountable for hate speech on their platforms and prioritize people over profit. As part of the campaign, advertisers were called to boycott Facebook in July. More than 1,000 businesses, nonprofits, and other consumers supported the movement.
But, did this movement actually do any damage to Facebook, and who, if any, benefited from their missing revenue profits?
According to The Information, “what was likely crumbs falling from the table for Facebook appears to have been a feast for its smaller rivals, Snap and Pinterest.” They reported that data from Mediaocean, an ad-tech firm, showed Snap reaped the biggest benefit of the 2 social media platforms during the ad pause. Snapchat’s app saw advertisers spending more than double from July through September compared to the same time last year. And, although not as drastic, Pinterest also saw an increase of 40% in ad sales.
As a result, Facebook said its year-over-year ad revenue growth was only up 10 percent during the first 3 weeks of July. But, the company expects its ad revenue to continue that growth rate in Q3. And, some people think that Facebook is benefitting from the boycott. Claudia Page, senior vice president, product and operations at Vivendi-owned video platform Dailymotion said, “All the boycott did was open the marketplace so SMBs could spend more heavily. It freed-up inventory.”
Even CNBC reported that Wedbush analysts said in a note that Facebook will see “minimal financial impact from the boycotts.” They said about $100 million of “near term revenue is at risk.” And for Facebook, this represents less than 1% of the growth in Q3. However, despite what analysts say, there is still a chance for both Snapchat and Pinterest to hold their ground.
Yesterday, Snap reported their surprising Q3 results. Compared to the prior year, Snap’s revenue increased to $679 million, up 52% from 2019. Its net loss decreased from $227 million to $200 million compared to last year. Daily active users increased 18% year-over-year to 249 million. Also, Snap’s stock price soared more than 22% in after-hours trading. Take that Facebook!
In a prepared statement, Chief Business Officer Jeremi Gorman said, “As brands and other organizations used this period of uncertainty as an opportunity to evaluate their advertising spend, we saw many brands look to align their marketing efforts with platforms who share their corporate values.” As in, hint, hint, Facebook’s summer boycott did positively affect their amazing Q3 results.
So, Snapchat and Pinterest have benefited from the #StopHateForProfit campaign. Snapchat’s results show promising optimism that maybe Pinterest might fare as well. But, of course, Facebook doesn’t think they will benefit much longer. Back in July, CEO Mark Zuckerberg told his employees, “[his] guess is that all these advertisers will be back on the platform soon enough.”
Facebook isn’t worried, but I guess we will see soon enough. Pinterest is set to report its Q3 results on October 28th and Facebook on the 29th.
Cooler temps mean restaurants have to get creative to survive
(BUSINESS MARKETING) In the midst of a pandemic and with winter approaching, restaurants are starting to find creative and sustainable ways to keep customers coming in… and warm.
Over the last decade we have seen a change in the approach to clientele experiences in the restaurant business. It’s no longer just about how good your food is, although that is still key. Now you have to give your customers an experience to remember. There are now restaurants that feed you in the dark, and others who require you to check all your clothes at the door. Each of these provides an experience to remember alongside food that ranges from good to exquisite, depending on your taste.
Now, however, the global pandemic has rearranged how we think about dining. We can no longer just shove people into a building and create a delectable meal. If you’ve relied mostly on people coming into your restaurant, you may struggle to survive now.
The new rules of keeping clients safe means setting things up outside is the easiest means of keeping large numbers of them from crowding inside. Because of this, weather has become a key influence in a company’s daily income. Tents that were a gimmick before, only needed by presumptuous millennials, are now a requirement to keep afloat. People are rushing to make their yards into lawns that bring some in some fancy feeling.
The ties to the sun in some areas are so strong that cloudy days have been shown to drop attendance as much as 14% for the day. This will become the more apparent the colder it gets. For me, I always mention hibernation weight in the winter, when all I want to do is curl up and eat at home. Down here in Texas we are already finding cooler weather, drops into the 70s even in August and September. We are all assuming a cold winter ahead. So, a bit of foresight is finding a means of keeping your guests warm for the winter ahead.
San Francisco restaurants have started with heat lamps during their cooler evenings. Fiberglass igloos have also been added to outdoor seating as a means of temperature control. A few places down in the Lonestar state keep roaring fires going for their outdoor activities. While others actually keep you running in between beverages by encouraging volleyball matches. This is the new future ahead of us, and being memorable is the way to go.
Healthcare during pandemic goes virtual, looks to stay that way
(BUSINESS NEWS) Employment-based health insurance has already been through the ringer with COVID-19, but company healthcare options are adapting for long term.
Changes in employment-based health insurance may end up costing employers more, but will provide crucial benefits to workers responding to the healthcare challenges presented by the COVID-19 pandemic.
According to a recent survey by the Business Group on Health, a member-driven advocacy organization that helps large employers navigate providing health insurance to their employees, businesses will increase access to telehealth, mental health resources, and on-site clinics in the upcoming year.
Besides the obvious impacts of the coronavirus itself, the effects of the COVID-19 pandemic have also rippled out to affect other aspects of public health and how we engage with medical care. With so many people staying home to reduce their in-person contacts, there has been a significant increase in the use of telehealth services such as virtual doctor’s visits. According to the survey from Business Group on Health, whose members include 74 Fortune 100 companies, more than half of large employers will offer more options for virtual healthcare in the upcoming year than in the past.
The pandemic, resulting economic fallout, and dramatic changes to our lives have inevitably exacerbated peoples’ anxieties and feelings of hopelessness. As we move into cold weather, with no end in sight to the need to socially distance, this promises to be a particularly dreary, lonely winter. Mental health support will be more necessary than ever. In 2019, 73% of large employers provided virtual mental health services. That number will increase to 91% next year, with 45% of large employers also expanding their mental health care provider networks, making it easier for employees to find the right the therapist or other mental health service provider, and making it easier to access those services from home, virtually.
In addition, there will be a 20% increase in employers offering virtual emotional well-being services. Altogether, 9 out of 10 of the employers surveyed will provide online mental health resources, which, besides virtual appointments, could also include apps, webinars, and educational videos.
There has also been a slight increase the availability of on-site clinics that provide coronavirus testing and other basic health services. This also included an expansion of resources for prenatal care, weight management, and chronic health problems such as diabetes and cardiovascular disease.
These improvement won’t come free of charge. While deductibles will remain about the same, premiums and out-of-pocket costs will increase about 5%. In most cases, employers will handle these costs, rather than passing them on to employees.
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