Customer relationship management – what and why
Customer relationship management (CRM) is a tool used by organizations and people to manage their customer information, interactions, and important data. Not all organizations use customer relationship software, or use it effectively.
Clients are always looking to go to industry experts that they trust. Trust comes from building relationships, and creating personal engagements. This is where CRM comes to use. Customer relationship management software allows you to manage this personal information. Whether it is contact information, their birthday, or important details, with the proper software you will be able to keep this information all in one easy to access place.
Getting passed surface level information, it is important to manage different sales, leads or finalized sales. An all encompassing CRM platform will allow you to manage these different sales, and input key dates to ensure you are able to complete your deals efficiently and timely.
CRM in Real Estate
Buying a house is generally the biggest purchase that your client will make, so building a strong relationship is key. These relationships are built on trust, expertise and personal connections. With different clients on the go, it can be hard to manage all these relationships.
A great example for using CRM is in the case of a repeat client. If you helped a client purchase their first home, and now they are looking to sell and buy a new home, they are most likely to come back to you. With an effective customer relationship management software, finding your old customer with their personal information, details of the previous deal, and any other important information should be easily accessible. Being able to remember past details not only about the transaction but personal details will help to re form that relationship right where it was left off.
These types of details can range anywhere from their family information, kids birthdays, contact information, to the value of their past purchase/listing. Whether it is a repeat customer, or someone making their first purchase, it is important to keep track of the little details, to build that relationship.
In CARs latest Home Buyer Survey, there were 3 areas that customers said they were dissatisfied with their relationship with an agent. The top 3 were all based on communication.
- Slow response
- Ineffective/inefficient communication
- Undesirable communication methods
Part of CRM is managing communication with your client. If they aren’t getting the quick response they are used to in our tech based environment, that will impact your relationship and potential future sale.
So not only will managing your customer relationships better help you in the long run with generating leads, but also in the short term with keeping current clients.