In a real estate brokerage, you eat what you kill. Lead generation constitutes an expense; business generation produces revenue.
Many CRMs will aim to rope you in with top-of-the-funnel lead generation metrics (ex: “20 percent lower cost per lead year over year”), hoping that will be sufficient to earn your subscription. It shouldn’t be.
A $2 lead is worthless if it does not convert into a piece of business. Actually, it’s worth negative $2. If your CRM’s strongest value prop is its lead generation, it’s time to consider one that is also equipped with and focused on the other levers that will help you maximize your business generation.
At Lucido Global, we migrated to Chime CRM for this reason. Here are our top three takeaways for how you can maximize your lead conversion with Chime CRM.
Disclosure: Chime is a tool that Lucido Global uses across its organization with considerable success. Lucido Global has an enterprise relationship with Chime; however, no monies were paid for the writing of this article. Chime was in no way involved in the decisions to write or curate this content.
1. Streamlining lead conversion with Smart Plans
If you want to maximize your conversion rate on Chime, master how to build and utilize Smart Plans to its fullest potential. Here’s how.
First, be sure to properly leverage the conditional and automation capabilities. For example, at our brokerage, our system triggers a plan that’s automatically based on various data points in a lead’s profile or activities. Some of these data points include lead type and preferred language.
Furthermore, within any Smart Plan, you can vary the content delivered to a prospect based on additional data points, which allows you to essentially combine multiple plans into one.
In our previous CRM, we had 113 drip plans in an attempt to cover countless scenarios. In Chime, we are more effectively doing that with just eight Smart Plans.
Second, in Chime, your smart plans can do far more than text or email. You can also build them to automatically create a property alert, create a task list, change pipeline or even start a different Smart Plan.
They can even be used for purposes beyond prototypical lead generation. For example, we use them to automate database management tasks, saving our partners time while ensuring their database remains as organized and therefore valuable as possible.
Third, Chime also supports graphic customization, multimedia content and third-party integrations, allowing you to deliver greater value and capture greater engagement.
After overhauling our campaigns with multimedia and formatted content, this quarter, our automated email open rate has climbed to nearly 31 percent, as compared to industry average of 19.12 percent.
2. AI Assistant
Chime offers a proprietary artificial intelligence chatbot, which has proven valuable in extending the efficiency and effectiveness of ISA operations. As an example, our AI assistant engages with prospects during nonbusiness hours and has converted 10 leads this month in Maryland alone.
Given the AI Assistant service starts at $39 per month, these leads have an effective cost per lead of just $3.90. Better yet, two of those leads have already converted into listing appointments. Powered by Google’s machine learning, this technology is more effective than the white-label versions offered with other CRM providers.
Chime offers a fully integrated dialer that allows users to send and receive calls and texts, which in effect unlocks the full potential of the platform. The dialers have allowed Lucido Global’s ISA team to increase efficiency and extend capacity without making additional hires.
In fact, our team’s time to make 60 calls has decreased by approximately 61 percent. Chime’s dialers automate the dialing process and can automatically leave a custom, prerecorded voicemail for all those who do not answer.
Additionally, through the use of the platform’s extensive filters, you’re able to quickly create strategic call lists, which saves time, promotes intentional engagement and improves conversion.
Moreover, when in smart dial mode, the platform becomes a split screen, intuitively displaying the prospect’s profile who is being contacted on the left side of the screen while, on the right side of the screen, displaying your custom call scripts and custom questionnaires.
This interface allows agents to take notes and access pertinent information quickly and methodically. Given that the vast majority of conversion occurs via phone call, the dialer is a must have for those with a sizable database.
Lead capture is just the first step. Focus on optimizing your entire business generation process from appointment to agreement, from agreement to contract, from contract to settlement, and from settlement to repeat client. These three items will make a profound impact on the amount and value of the business you generate.
Robert Lucido is the chief strategy officer of Lucido Global. Lucido is responsible for driving corporate strategy and innovation with the aim of creating economic moat, scale and efficiency across the Lucido companies. Before joining Lucido Global in 2018, Robert played professional baseball playing for the Toronto Blue Jays and Texas Rangers. He graduated from Amherst College in 2015 where he was an All-Academic athlete. Connect with him on LinkedIn or Instagram.