Email Marketing CRM Solutions- The Good, The Bad & The Ugly

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A large portion of my consulting practice is focused on helping homebuilders, developers and real estate agents select email marketing CRM systems. Many are still using post-it notes and shoeboxes to manage prospects and others have antiquated desktop software that is inadequate for eLead follow up.

I know eyes glaze over when I mention the acronym “CRM”—but there is nothing to fear and everything to gain in terms of increasing your eSales. CRM stands for Customer Relationship Management and it is category of software designed to store, track, organize and communicate with prospects. CRM software is an electronic rolodex. It’s that simple.

In my June 2006 column for Agent Direct News, I talked about the benefits of a CRM system in an article titled “Rolodexes, Post-It Notes & Shoeboxes No More!” If you missed it, you can access that article on my website at http://www.creatingwow.com/.

If you receive more than 25 eLeads (leads from your website) per week then you need a CRM system with advanced email marketing campaigns. Systems vary in cost and scope. Simpler systems created for individual real estate agents and small businesses range from $19.99 - $50.00 per month. Enterprise systems for medium to large brokers, homebuilders and developers start at $500 per month and go up depending on the number of users. Of course, you can have a custom system developed for six figures and up.

For individual real estate agents, I recommend:
http://www.intersend.com/
http://www.sharperagent.com/
http://www.topproducer.com/ 7i

For small to medium brokers, homebuilders and developers (less than 10 agents or communities), I recommend http://www.openleads.com/.

For large brokers, homebuilders and developers (greater than 10 agents or communities, I recommend:
http://www.behomewise.com/
http://www.leadvelocity.com/
http://www.realtyinfolinks.com/
http://www.ufollowup.com/
http://www.pivotal.com/

What do you look for in a CRM system?

As you review your options, there are key functions you need to effectively store, track, follow up and communicate with eLeads.

A good CRM system will:

• Automatically funnel eLeads directly from the website to a web database eliminating manual data entry. This will save you time and money. It also ensures consistency that ALL eLeads are in the database for reporting and tracking purposes.
• Automatically assign actions to eLeads based on the information provided on the website registration form. If you receive more than 50 eLeads per week, then you need a CRM system that will automatically assign a series of workflow tasks when the eLead enters the database. This prevents the sales representative from opening each lead individually and assigning follow up tasks which can be quite time consuming.
• Automatically send ongoing email marketing campaigns from a library of eLead letters. While personalized email and phone calls are very important, automated email letters are good way to ensure timely and consistent follow up.
• Track email campaign metrics such as bounce rates, open rates, click through rates and unsubscribe rates. Armed with this information, you can tweak your email campaigns for optimal performance and results.
• Automatically unsubscribe list members who ask to be removed. There is nothing worse than emailing someone who doesn’t want to hear from you. The best way to ensure consistent compliance is to have a CRM system that will automatically remove the email address.
• Flag duplicate eLead registrations by 3 or more fields including the email address field. Internet shoppers tend to forget which websites they requested information from and will re-register multiple times. It is important the system flag potential duplicates so you can keep the database clean.
• Allow for one-to-one email communication directly from the CRM system. In addition to sending group email campaigns, you will also want to email prospects individually and have that documented in the CRM system.
• Offer detailed reporting on media source, conversion rates, and sales representative activity. Because web results are highly trackable, it’s important that the system track activity and results.
• Allow for online scheduling of follow up tasks and calendar appointments. The goal of working with an eLead is to set an appointment for them to meet with a sales representative in person. The system should automate that process with an online calendar.
• Maintains detailed prospect records with space for notes and follow up tasks. Sending personalized email is important to converting eLeads to eSales. The CRM system should have room for the sales representative to document follow up and record important details.
• Sends HTML and text email. Most prospects today can open HTML email (that’s the pretty kind of email with graphics and photos). To stand out you want to send HTML email that is automatically converted to text by the CRM system if it senses the recipient can’t receive HTML email.

The right CRM system for you is the system that fits into your current business model. It should also be intuitive for users and have a solid support/training program. Shop around and do your homework. Once you start with a system it is hard to change mid-stream. Don’t delay the decision. You don’t want to lose eSales to your competitors simply because they are better organized.