One of the biggest challenges in the real estate industry is losing potential customers and revenue from leads slipping through the cracks. Though the real estate industry’s success can be attributed to human interaction, having many leads to follow up often results in failure to reach out to potential customers and ultimately thousands of commission dollars lost.
Because of such challenges, organization and follow-up are very important in real estate. The better these two are executed, the greater the chances of increasing revenue, and the answer to bettering those two areas lies in real estate marketing automation. Real estate marketing automation is what streamlines operations, opening up more time for agents to focus on the human aspect of real estate: solidifying relationships with leads and closing more sales.
What is real estate marketing automation?
Marketing automation for real estate is using the right technology and software for marketing, streamlining, and making effective agents’ marketing efforts. Marketing automation also manages many aspects of marketing campaigns from the same place. By funneling every lead to its appropriate follow-up sequence, marketing automation allows agents to focus on the human interaction that the real estate industry thrives upon.
5 tasks that marketing automation can cover in the real estate industry
1. Lead management
Whether it be through a social media campaign, a referral from a client, or an inbound lead via SEO (search engine optimization), different leads hit the pipeline through a plethora of marketing channels, and this can result in leads that aren’t followed up on properly. But with a high volume of leads flowing in, following up with every potential prospect individually is nearly impossible. The vast majority of real estate agents struggle with closing the gap for prospects who have inquired but have yet to hear back. By the time the realtor gets a chance to reach out to the prospects, they have already called another agent or searched for another listing.
Marketing automation solves this problem by segmenting leads into different groups and by automating a series of lead magnets(CTAs). This way, agents can follow up with interested buyers more efficiently while interested leads are further nurtured into prospective buyers.
2. Social media marketing
Social media platforms play a significant role in bringing in leads, but manually creating new content to post on a consistent basis is very time-consuming. Real estate agents can use marketing automation to run their social media campaigns and schedule updates across all social media channels.
Another great benefit of automated marketing for the real estate industry is that real estate-related posts can be uploaded at optimized times on behalf of the agent or agents. This way the agent’s visibility is boosted on social media, reaching audiences when they are most active and engaging.
3. Email marketing
72% of US consumers reported that they prefer companies that offer email communication, making email marketing a massive opportunity for more leads. On the flip side, be careful with the CAN-SPAM act from a regulatory compliance stance. Vivify has tremendous experience in regulatory compliance as it relates to white-hat marketing methods.
With marketing automation, agents can create email campaigns that send a series of emails to prospects over a specific period of time without overwhelming them. By showcasing relevant and personalized content in these emails, agents can keep interested customers in the loop and increase engagement with them before reaching out to them in person.
4. Social media ad management
According to a recent report, 72% of the US population has active social media accounts. Thus, having ads on such social media platforms is an amazing opportunity to reach more audiences.
That being said, finding the right content and boosting it individually over every social media platform available takes a ton of time and doesn’t guarantee success. Taking the time to find the right target audience through A/B testing also eats up even more valuable work hours.
By using the right automation tools, agents can have ads with relevant content posted for their target audiences across all of their social media channels. Automation tools can also find new listings and generate ad campaigns without any manual work.
5. Streamlining workflow
Agents deal with a large amount of paperwork on a daily basis. With so many vital documents like inspection reports and contracts to manage at once, it makes sense to automate this process.
Rather than scanning, printing, and emailing documents manually, agents can use automation software to take care of the paperwork necessary. Features such as e-sign simplify creating and sharing documents. Also, by organizing all documents in one place, clients can access forms digitally, minimizing the back and forth between the agent and client that may happen without such automation.
Marketing automation is a real game-changer in the real estate industry, as it allows for detailed lead organization and increased outreach to potential prospects. While allowing agents to nurture their leads and close more sales, it simplifies the operations process and targets customers with the highest purchasing potential, getting agents more time in an industry where time is crucial to success.