Real Estate the world over is booming.
From downtown L.A., to the suburbs of South India, we’re seeing the real estate market growing in shape and size. This confidence has been fueled by globally low-interest rates, improving job markets worldwide, rising consumer confidence and growing interest from foreign buyers.
Chances are, you’re reading this to understand how a chatbot could help you capitalize on this boom and take that next step for your business.
Let’s start off strong.
1. make More Money.
Great lead generation software reflects how humans, not computers, deal with information.
Most of our customers saw these improvements in conversion and sales overnight, simply because their bot ensured that their customers aren’t left unattended. The bots also allowed them to generate and qualify leads during the company’s off hours (at night, or during lunch breaks). This meant that every morning a sales team would wake up to new leads that were created while they were asleep.
The average cost of a missing a customer in real estate is far higher than the average cost in e-commerce, so every lead you let go represents a sizeable chunk of lost revenue.
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Hundreds, if not thousands of these potential leads come to visit your website and sift through your offerings every week. They’re greeted with a barrage of information about how you’re the best in your industry, and how many customers you have.
But is that what they’re really there for?
They’re there to ask questions, and get answers. They want to know more about that house, about what the neighborhood is like and where the nearest school is. But because they’re on a computer miles away, one of two things will happen.
- They will spend the next half an hour scouring your website to get that answer. (unlikely)
- They won’t get their answer and leave. (likely)
And when customers in your target market are left untouched, they eventually go to one of your competitors. Most of the time, to the one that answered their question quicker.
2. Faster is better
Research by NewBreed shows that when companies take more than five minutes to respond to a lead, their odds of qualifying that lead decreases by 10x. Responding in 10 minutes, vs. 5, further decreases the likelihood of qualifying the lead by 400%.
And that makes sense. In a world of instant gratification where your friends and family are never more than five seconds or a text away, a business taking twelve hours to get back to a customer is nothing short of a crime.
You’ve probably put forms all over your website, and that’s your primary generator of leads. But a “contact us” submission portal feels like a survey that you’re forcing your customer to fill, for a product they’ve never tried. But forms are useless and the average fill rate for contact forms is only 1%.
Chatbots are far more efficient tools, allowing them to field questions from your customers around the clock, 24/7, 356 days a year. Additionally, bots don’t take days off, don’t have bad days or compromise on customer service. Nykaa, an Indian e-commerce giant valued at $450 million interacted with 99.7% of all its customers after they introduced a bot.
In the modern age of the internet, businesses shouldn’t work just business hours.
3. Boost conversion
You now have access to more leads. You can reach out to them in lesser time. How else can a chatbot help? By converting them to customers.
Proponents and users of chatbots have seen massive improvements in their conversion rates. Education platform Acadgild saw an increase of 240% in their traffic-to-customer conversions post their implementation of a chatbot.
Qualification is one of the most important aspects of the Sales Process, all the more so in real estate. Knowing that a prospect has a child on the way completely changes the way you would pitch a house to them, giving you an edge against your competition. A well-qualified prospect makes for an easier, more personalized and better sale.
The problem here is two-fold.
One – Your sales team are often charged with qualifying leads themselves since most companies don’t have dedicated sales prospectors.
Two – Qualifying leads takes a lot of time. The time that is spent qualifying and codifying your customers is the time that could’ve been better spent doing what you’re great at; conversational sales.
These hurdles, albeit necessary, take away from your sales teams efficiency. Using a chatbot, however, you can also automate lead qualification, contact information collection, preliminary question fielding, and house-tour scheduling.
4. Cross-Platform Performance
With Verloop, you can run your chatbot in any language you’d like, on most any platform you’d like; be it an app, website or social media platform. When it comes to building your website or hosting a platform for your business, traditionally web wagged its tail and mobile followed.
But that recipe no longer works, you can’t be either or when it comes to the web and mobile. Additionally, the influx of social media into sales and support means you have a third prong that requires handling. Chatbots can help you automate all three, delivering better results in lesser time across the board.
In an increasingly global economy, however, it is important to be able to speak your customers’ language. While many would suggest English dominates most interactions, technology allows companies to engage their customers with unparalleled customization.
Language is just another hindrance that reduces the efficiency of your sale. If you can’t support your customers in the way they want, and in the language they speak, you’ve already lost them.
Unsurprisingly, when phone calls, emails, and @’ting companies fail consumers so spectacularly, it isn’t difficult to understand why customers want to use messaging to communicate with businesses in real-time.
The end goal for all Conversational Sales, Marketing and Support is simple; Make business personal again.