Ask any sales person in the real estate industry what they do for sales?
Almost, the answer from everyone will be: We do follow-up for sales.
In Real Estate Industry it’s getting common!
A bitter truth is sales person have nothing new to do except taking follow-up but it is one of the most important parts of sales and cannot be ignored. It’s high time now that every sales person and owner in the real industry should focus on this sales funnel and start working accordingly.
Almost every builder now a day is struggling to sell their property, but in this process, they miss out on major parts of the sales process.
Every person in the sales industry understands the importance of sales funnel and its basic structure looks something like this.
Why having a sales funnel is so important?
For a sale to happen, having a sales funnel is first priority, let it be sales person or a company but without sales funnel you will reach no-where.
Sales funnel is where your prospective customers are during different stages of their decision making.
This is a process in which you take the target audience through different stages so that hopefully they make their decision.
The three stages of Sales Funnel:
1). TOP STAGE (Awareness, Interest)
2). MIDDLE STAGE (Consideration, Intent and Evaluation)
3). BOTTOM STAGE (Decision)
1) Top stage of funnel (TOFU): Awareness and Interest
The first stage of the funnel is all about awareness and interest. In the beginning, buyers do not realize that buyers have to buy a product until the awareness is created and after that, they take interest in buying the product or property. We at growempire.com take care of this stage for builders.
Awareness can be stated as “The first contact to your potential customers” and this creates the opportunity to tap into your future buyers.
This is a phase where customers are educated about the property, here the content is created and shared with customers that teach and guide them about the property. The content is shared in such a manner that doesn’t put pressure on buyers to buy the product, whereas it just taps into the buyer’s mind without directly pitching about the product or service.
2) Middle stage of Funnel (MOFU): Consideration, Intent and Evaluation.
This is the most important stage to convert a Lead for a sale.
At this stage, a sales person or builder has to work hard to engage the lead and create a relationship where buyers would consider him a trustworthy seller, after buyers’ consideration the next crucial part is the Intent of the buyer and at this stage, the buyer has already generated a strong feeling of buying the product.
The next stage buyer goes for is Evaluation in which the buyers start looking for available options. This stage is the most time consuming and sometimes it may take 20-40 days.
Sales person or builder has to make sure that they should not be too pushy before this stage as it might divert positive lead to a negation.
3) Bottom stage of Funnel (BOFU): Decision
At this stage, buyers are more prone to make the decision and purchase so your focus should be more towards selling. Giving them a reference, demos, comparison of prices and other examples tend to convert them mostly.
The last stage seems very simple because it's just the final closure of your hard work in the First and Middle Stage, which will get you the sales.
So Overall when you get around 100 leads then your actual sales might be around 1 or 2, this can be around 4 or 5 as well. The hard work you put in the First 2 stages will decide what will be the END RESULT.
It’s never the lead that gets you the sales; it’s the process through which it goes. Your Sales team and their follow-up will decide your sales.
Keep connected to growempire.com for more sales and marketing strategies in the real estate sector.