February 23, 2018
By Ashley Johnson, Writer for Smart Business Hacks
As a property manager, one of the most important tasks you will be faced with is keeping leads in your sales funnel. It may seem daunting at first, but in the end, it all comes down to learning how to balance your time, your focal points, and the needs of both you and your leads. Below we have three tips that will help keep you from losing leads.
1. Follow Up Persistently, Consistently & Quickly
Following up is the number one best way to keep leads from falling out of your sales funnel. Follow-ups are what help keep you in the minds of your leads throughout the process until you are able to close with them.
Unfortunately, many property managers give up after they fail to get results with their first follow up. If a lead says no, try to figure out why, and see if there is a way to turn that no into a yes. Ask what their concerns are so that you can address each one. Provide more information about your company and how your services can resolve their challenges, while still giving them room to breathe. Usually a no at first means they are not interested right now, but it also means that they could be later. It’s always good to be persistent and to follow up more than just once.
However, just following up isn’t typically going to be enough. For this tip to be effective, you need to follow up consistently, but that doesn’t mean it has to be constantly. If you aren’t consistent with your follow-ups, then leads can lose interest, find a better offer with another property manager, or simply forget your offer. Consistency keeps you in mind, regardless of how often you’re following up.
Speed can also improve your chances of converting a lead. By calling your property management leads back in a timely manner, you will put yourself ahead of the game and potentially be the number one option for a lead if they are looking into multiple companies. By following up both consistently and quickly you have a better chance of keeping leads in your sales funnel.
2. Engage Each Lead Differently
Don’t fall into the trap of categorizing your leads; every close is unique. Still, you may find your sales funnel filled with what some property managers call hot leads, leads, and prospects. Consider every lead a close in the making and tailor how you engage to keep them interested and in your sales funnel.
- Prospect: These are at the top of your sales funnel and are familiar with your property management company but aren’t ready to buy. It is best to market towards them rather than immediately call. These take the most nurturing and require continuous interactions (like educational content) until they are ready for more consistent follow-ups and a quote.
- Lead: These are in the middle of your sales funnel and are comfortable with your company. These are the people you want to regularly speak to/meet with for follow-ups until they become a hot lead.
- Hot Lead: These are at the bottom of the sales funnel and well on their way to becoming a customer. These potential customers are ready to buy and just need the right property manager to close the deal.
All of these fluctuate, of course, depending on the individual. It is good to get to know the client on an individual basis and tailor how you market to them, work with them, and contact them (call, text or email). By doing this, you will stand out from the competition as you are creating a personal experience for your leads.
3. Balance Focus on ALL Parts of Your Sales Funnel
Many property managers can become caught up focusing more on the bottom of their sales funnel where they have hot leads that are ready to close. While you gain sales this way, you also lose them. When looking at where to focus your attention, it’s always best to balance it between all parts of the sales funnel.
While you obviously should work consistently with hot leads, you also need to focus on the top of the funnel where you gain prospects and therefore new leads. Maintaining your marketing and advertising is a good way to draw prospects in, but then you also need to take the time to nurture them, so they become leads that stay within the funnel. You can do this by:
- Following up
- Setting up in-person meetings
- Taking the time to share your value with prospects as this gives them a reason to stay in contact with you
- Listening to your clients and prospects and finding ways to resolve their concerns as this gives you a way to win over leads and become a more effective property manager
All people within your sales funnel are potential hot leads, and you should take time with each, so you don’t lose out on possibilities.
The Path to Property Management Sales Success
Managing all of this can be time-consuming, so we suggest creating a schedule to keep track of all follow-ups, meetings, etc. to begin to balance your engagement with each part of your sales funnel. Having a schedule also keeps you consistent with how each lead is being interacted with. There is also lead-based software available to lessen the pressure on you.
Overall, if you take the time to lay out a plan, focus on the entire funnel, follow up quickly and consistently, and engage with each individual lead, you should have no problem keeping leads in your sales funnel.
Contact our Property Management Inc. office, to find out more about the subject of keeping leads in the sales funnel!
