Private Communities Media Kit

Increase Online Conversion Rates by Leveraging CRM

Published on April 5, 2019

By Lasso

New Benchmarks of Online Success

A recent Professional Builder article unveiled the latest indicators of online sales success for the new home industry. And it’s no surprise that as home builders and developers analyze their data and improve their campaigns, some benchmarks are getting higher. Here’s a recap from the article:

  • 100% of home buyers are influenced by the Internet
  • 1-3% of online visitors convert to leads
  • Lead-to-appointment ratio has increased from 20 to 30+%
  • Appointment-to-sale ratio has decreased from 30 to 20+%
  • Percentage of sales from online leads increased from 25 to 30+%

Understanding the buyer’s funnel and your conversion numbers is critical to getting the most from your sales and marketing campaigns. A CRM for new home sales can help at each stage of the funnel to understand your numbers and improve them. Here’s how:

Online Visitor to Lead

Online shoppers discover new home communities through a variety of channels, including company or community websites, listing directories like PCR, and social media sites like Facebook. The key to success with all these sources is capturing lead information automatically and seamlessly. Your CRM should:

  • Generate a profile for each new lead with complete contact and demographic information.
  • Assign a sales process based on pre-selected trigger criteria.
  • Send an instant auto-reply email thanking them for their submission.
  • Notify the assigned sales agent immediately that there’s a new lead.

With these automated steps, your lead has already had their first touch point and the sales process is well under way.

Lead to Appointment

Here is where the magic of CRM happens —the follow-up process. Each online lead is valuable. And each should be treated that way. When online leads are carefully nurtured, they can become a steady engine of revenue for your sales team. In fact, according to the Professional Builder article, an online prospect who keeps an appointment is more likely to convert to a sale than a walk-in prospect. Here’s how a CRM can help during this phase of the buyer’s journey:

  • Assign follow-up processes to leads based on their unique interests and needs, so that messages are personal and relevant.
  • Send automated reminders of activities so that no lead slips between the cracks.
  • Save time by leveraging email templates that can be personalized and sent in just a few clicks.
  • Know when a prospect is active on your website so that you can gauge interest and send timely communication.
  • For Online Sales Counselors, easily transfer online leads to onsite staff when they make an appointment and maintain communication about that lead.

Appointment to Sale

At this point in the buyer’s journey, the sales team has collected valuable information about the prospect. By recording this information into a central CRM system, everyone on your team has a better understanding of the prospect and can send him/her relevant information. Here are some other ways CRM can organize information at this phase:

  • Link the profiles of everyone involved in a transaction, include multiple buyers, real estate agents and lenders.
  • Track all email and communication history.
  • Upload documents associated with a home or unit, including contracts, amendments, floor plans, etc.
  • Continue to nurture prospects who don’t buy with consistent, relevant messaging in order to stay top-of-mind.

It All Adds Up

Home builders and developers are beginning to understand how much online leads can positively impact their bottom lines. It is an investment, however, and the right people, processes and program must be in place to fully leverage these leads. A CRM system is an integral component of any successful online sales program.

 

About Lasso
Lasso is the leading provider of cloud-based CRM software designed exclusively for new home marketing and sales. Home builders, real estate developers, and new home agencies use Lasso CRM to radically improve lead management, convert more prospects to buyers, and sell their communities faster, easier, and more profitably. The company’s software is deployed on thousands of diverse residential developments including single family and master-planned communities, urban high-rise condominiums, suburban townhomes, and global destination resorts. Lasso CRM is designed for ease of use and rapid deployment to maximize each client’s ROI while reducing their technology and financial risk. Lasso is a privately held company headquartered in Vancouver, Canada. www.LassoCRM.com.

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