When your sales team is looking at their pipeline, how do they determine who to call first?
- Is alphabetical order playing a part in the decision-making process?
- Do they have a way to know for sure where their time is best spent—or is your system a little more unorganized?
- Do you have a sales methodology helping you to determine what to do with your property management owner leads?
What if we told you there was a way to automate the process—so your team is always calling the best property management leads first?
It turns out there is—and as the property management automation experts, we are excited to tell you how it works!
Defining a Lead
Defining your property management leads requires you to gather information about those leads. You can collect this information from phone calls, your website, lists, third party lead generation services, and other creative services.
- If you have a CRM set up that is connected to the forms on your property management website and a good marketing team, owner leads should automatically populate into your CRM.
- Your BizDev team should also enter leads into the CRM when they come from phone calls, emails, or other sources. Always have your BizDev professionals ask the million-dollar question, 'How did you hear about us?' to ensure you can track marketing ROI.
Good Leads vs. Bad Leads
First things first, you have to know what you consider good and bad property management leads before you can automate the process.
Any automation begins with a framework that you can build it on: automation isn't a crystal ball that can 'magically' create processes for you. You have to have the process first.
What does a good lead look like for your business? To answer this, look at the data in your CRM for leads that are closed.
- Was it that your BizDev rep spoke with them on the same day they submitted a form?
- Do you define a good lead as one that has visited your website more than five times?
- Is a good lead one with a phone number and an email address?
Finding these common threads will help you separate the leads most likely to close—and bring them to the top of the list.
This data analysis might take a little time, but if you have a super smart CRM, you should be able to create some lists that help you speed up the process considerably.
Using Lead Scoring
Once you know what good property management leads look like, you can move to automation!
Lead scoring is a tool offered by HubSpot that allows you to enter in positive and negative lead attributes for automated lead qualification. This means the positive attributes—or things that make a good lead—will be assigned points based on how you weight them. Negative attributes will subtract points. The sum of these points is the lead's score.
What Does This Look Like in Practice?
Let's say you have decided that your best 'hot' leads have these criteria—and you've assigned points for lead scoring that look like this:
- Form submission: 10 points
- Website visit: 5 points
- Blog post view: 3 points
You know that your best leads have over 40 points, so you turn on Lead Scoring. Now, your BizDev team is going to get an email whenever a lead hits the 40-point threshold—as well as a new deal created in the sales pipeline.
This system is amazing, right? Now your BizDev team knows, based on real data, where to spend their priority time. They can still work lesser leads, but you know they are hitting those most likely to close, first.
It Gets Better
HubSpot also has Predictive Lead Scoring; this means you can start with traditional lead scoring, and then turn on predictive as well. Letting machine learning take over the process as you gather more and more data boosts your efficiency.
- HubSpot will analyze your CRM and leads and use an always-improving system to score leads for you.
- No matter how you score it, your BizDev reps are going to have better data than the competition.
- This means you stop losing leads to the sales rockstar next door—and start closing more business.
This is just one of the many reasons why RentBridge built our Property Management Operating System (PMOS) on the HubSpot ecosystem. HubSpot has already created a state of the art sales, service, marketing, and operations automation system; we just saw the untapped potential for running property management processes and workflows from it—and made it into a tool for growing your property management businesses.
If you'd like to see what our Property Management Operating System (PMOS) can do for your company, schedule a complimentary consultation with our team! We will look at your operations and let you know if your business can benefit from the savings PMOS brings property management companies.