4 Ways Builders Can Convert More Leads to New Home Sales with A CRM Software
A new NAHB study estimates the housing market is currently underbuilt by 1.5 million homes. Concurrently, rising mortgage rates combined with 35 to 45% growth in home prices since 2020 have led to a growing number of prospective Homebuyers not being able to afford to buy a new home. According to new NAHB estimates, 18 million households were priced out of the market as mortgage rates increased from 3 to 7% throughout 2022. And new home sales declined by 15% in November on a year-to-date basis compared to the same time period in 2021. Home Builders reported growing cancellation rates (30% on average) and declining Homebuyer traffic1. In an already incredibly competitive residential construction industry coupled with inflationary challenges, Builders need to leverage whatever tools they can to convert leads into sales.
What is CRM Software?
CRM stands for client relationship management. In residential construction, the best cloud-based CRM software provides visually interactive insights and streamlined workflows in a modern, innovative platform. These features are designed to help residential construction firms drive project success and foster collaboration. CRM lead management enables Builders to convert more leads into sales and accelerate strategic growth. Selecting CRM software with the following features can make a huge difference in staying afloat in uncertain times and protecting your bottom line.
Centralize Sales Cycle Management
Look for a CRM that provides the ability to create notes, send emails, log calls and manage sales and marketing tasks directly from the CRM database to potential Homebuyers and real estate agents. This improves the ability of your entire team to collaborate efficiently and seamlessly.
Automatically Pull Customer Contact Information
Pulling information from your website into a CRM helps ensure you’re working with correct sales and marketing data, thereby reducing time spent on manual tasks and eliminating duplicated information and human error.
Keep Track of Your Lead Activities
Workflow at-a-glance provides a view of your sales process with date duration for each of your prospect’s steps in the buying process. Being able to quickly view and visualize new home sales and track steps with prospects enhances your ability to provide potential Homebuyers with adequate attention throughout their journey. Doing so is essential for converting leads into new home sales.
Generate Integrated Marketing Campaigns
Using personalized marketing materials, you can advertise move-in ready homes, community-specific announcements and sales incentives to potential Homebuyers. Being able to generate campaigns to real estate agents and/or Homebuyers from CRM management software provides insights on the performance of newsletters, one-off email communications and drip campaigns. Analytics must also include key metrics of who opens and clicks on your emails and campaigns.
Convert More Leads with Hyphen CRM
Hyphen CRM is designed for Home Builders by Home Builders and features the latest modern technology. Hyphen CRM optimizes customer acquisition and increases sales cycle efficiency with innovative tools, including a responsive email builder, integrated campaign management, expanded reporting/analytics and more. Customer status is synchronized with Hyphen HomeFront and BRIX ERP systems to ensure accurate messaging.
If you’re ready to dive deeper into all the benefits Hyphen CRM has to offer, including ways it can help you convert leads to new home sales, schedule a demo today.
1Source: https://www.nahb.org/blog/2023/01/how-and-when-will-housing-rebound
