When you realize your pipeline is ill, much like the doctor with a stethoscope, you will need to get to the heart of the matter — your database. No matter what the issue is with your CRM system, we have the proper Rx recommendations to nurture and bring your pipeline back to a healthy activity level.
Can the foundation still hold up the business?
Things change. This is the one guarantee we have in life. When things were finally becoming somewhat manageable, many markets have screeched to a slower pace, leaving new and seasoned agents scrambling to triage their pipeline.
The first question: Is your CRM system’s foundation still functional? The second; Did you even have it set up correctly to begin with?
Many agents hop from system to system, looking for the perfect fit. If you have not audited your CRM in some time, or if you are unclear about what you need your CRM to do for you, take these three posts under serious consideration and then call your leadership in the morning to make sure your tech stack is still viable.
- 5 steps to organizing your database
- On the fence about a CRM? 10 pros and cons
- Want to audit your CRM? Ask these 5 questions
Hot Tip: Your CRM will need to be retooled for the changing market conditions. Before you dive deep into any significant changes, you need to halt any and all messages that may contain dated advice or materials.
Prospecting in frozen tundra
After exploring and shoring up the foundations of your CRM, you will need to grab your coat and prepare yourself to find out why your previously active contacts have frosted away from communication attempts. Try these strategies to warm things up and cull out truly unresponsive contacts.
- How to revive dying leads
- You can’t afford to wait! 6 tips for instant lead gratification
- 6 creative ways to reboot a chilly lead
Hot Tip: It may take longer to convert leads. Carefully label and re-label contacts into the correct category. Their status may have changed when interest rates began to rise.
Maximizing healing and growth
If the foundation is strong and the communication is fresh and relevant, your next focus should be ensuring that your CRM doesn’t fall ill again in six months through growth. A robust CRM system is constantly expanding, not contracting.
The self-discipline in keeping your mind, body and heart strong against illnesses applies to all your customer service practices for your business.
Dedicated and thoughtful care will create a referral program that will carry you through even the stormiest market conditions or give you something to hand off to your team that can still generate some income for you if you decide to head to land to get your bearings.
- Database on lock! Get more ROI with these CRM tips
- Trying To Expand Your Database? Here’s A 5-Step Plan
- 5 steps to building a database that yields million-dollar deals
Hot Tip: There should be a formula and a set of guidelines for each contact that goes into your CRM. If you want an assistant, a partner or a referral agent to nurture and grow your CRM, they need a map, a guide, the secret sauce. A well-written database with notes will build dividends for your future.
Bitter medicine, but sweet rewards
Prescriptions can put you back on the road to good health, but the work and sometimes the awkwardness of getting back in touch with old clients — or trying to create new relationships with people you have never met — can leave a bitter taste in your mouth.
This is especially true when market stats seem doom and gloom, and the world appears to steadily surprise us with unprecedented events and stress that once wasn’t such a large part of our lives.
You will need to get honest about your CRM diagnosis and be ready and willing to do the work to get healthy. Sales managers will need to focus on marathon-type strategies and allow for pipelines to settle and readjust to market conditions.
The over-the-counter cure is time and patience, but it may be a hard pill to swallow. However, if the Rx works, you will be rewarded with the sweet satisfaction of a job well done.
By day, Rachael Hite helps agents develop their business. By night, she’s tweeting and blogging. Feel free to tweet her @rachaelhite.