March 23, 2018
By Jaden Trujillo, PMI Association Coordinator
Excel. Google Sheets. A sticky note on your mirror, nightstand, or desk. These are just a few of the ways that property managers across the nation manage their leads. Sales are key to growing your business, but most property managers struggle with managing their sales leads. We all know that managing leads and general organization is essential to running a successful property management business; however, it seems that we often get caught up in working in our business and not on our business. We all say we are hungry for business, and most of us act like it, but when potential clients inquire via a lead source, and we don’t connect with them quickly, our actions speak louder than our words.
Property Management with Lead Management Software
Lead management software can solve a large portion of what we consider a “dropped ball” in lead management, whether that “dropped ball” was not reaching out quick enough to get in touch, not following up, or missing an appointment. If you are having problems like these, subscribing to a lead management software is essential for the sales organization and task flow inside your company.
Every day, business is lost due to communication problems, so you want to be a pro at communicating. Those who have worked in sales at some point before joining the industry have most likely worked with some sort of Customer Relationship Management (CRM) software. Like CRM, property managers can utilize lead management software for interacting with customers. This software makes it simple to build and maintain positive relationships with current owners and tenants. Effective use of lead management software empowers you to be a personal and professional property management hero.
Common Lead Management Software Concerns Property Managers Have:
I can’t afford another business expense.
Time is money, and effective lead management software will buy you and your business more time. While the expense of another software may be difficult at first, the dividends that software will pay out as you become busier and busier are well worth the price. What is your time worth? What do you consider to be your hourly rate? Do you feel that the software is saving you time? Does that time add up to saving you money based on what you feel your hourly rate is? If so, then it’s money well spent.
I’m not interested in having another software to worry about.
While a lead management software is an additional software, think of it as another tool in your tool belt, or even the tool belt itself. It keeps you organized and on top of your game. The software may seem tedious to implement or track, but it was invented to automate time-consuming tasks and processes. Automation is essential to becoming an efficient and effective property manager not just in the areas of operations but also in being able to grow your business.
I don’t have enough lead volume to justify the cost.
If you are a new property manager, you may find you do not have any leads coming in. This might be because your name isn’t out there yet. You need to ask yourself a few questions. How are you advertising? What lead sources could potentially give you leads? Are you wisely spending marketing dollars? If so, you will get leads, but don’t be afraid to obtain leads the old fashioned which is getting out in front of people. Leads will come when you are working hard and effectively marketing your business. Those leads can then be pushed into a lead management software manually or, preferably, automatically. A good lead management software will have the capability to push leads directly from the lead source into the software itself, giving you the time you need to network more effectively.
Modernize Your Property Management Business
I have rubbed shoulders with property managers that have been in this industry for over ten years that are still managing their leads the old fashioned way through excel, sticky notes, writing on their hands, and other unique methods. When I discuss lead management software with them and bring up the time it can save and the functionality it can provide, their jaws drop. Lead management software is the 21st century way of connecting with and organizing your leads. So what are you waiting for? Go manage your leads, communicate well, and be a property management hero.
