A Customer Relationship Management (CRM) system offers many benefits to businesses of any sector. In a previous blog post, we discussed the best CRM for manufacturing businesses. Today, we’ll be talking about the benefits a CRM can bring to property management businesses.
- Improved business relationships
- Higher customer retention
- The power to drive increased sales
- Better internal productivity and efficiency
1. Improved business relationships
As a property management business, you likely have many customers, from property buyers to sellers and perhaps even tenants - all with different needs and goals. It’s important you can easily and seamlessly manage the information you have about them so you can provide them with the high-quality service and experience they want.
Thanks to a CRM systems ability to integrate with other business systems and unify customer data, you can gain a clear and complete picture of your customers. With this deeper insight, you can begin to offer your customers the flawless service they’re after.
- Communications (e.g. marketing emails, listing recommendations and relevant content) tailored to your customers’ interests
- Interactions (such as client advice) tailored to individual customers and their unique situations instead of generic messaging
- Ability to interact with customers on the communications channel of their choice (e.g. Facebook Messenger, live chat, WhatsApp, voice calls etc) - all from a unified customer service agent desktop
- Ensuring every customer receives a consistent, seamless experience, even if their case has to be transferred across channels or agents
- Self-service portals which allow customers to find the answers to their problems themselves. This gives customer issues a chance to be resolved out of working hours and means customers only need to reach out to your agents for the most complex queries
As well as deeper insights into customer preferences, the right CRM solution will also include sales automation features, such as:
- Integrations with social media, such as LinkedIn, so your sales team can reach out to related leads and manage relationships at scale
- Automated notifications that signal relationship health. With this, it’s easier for your sales team to keep customer relationships on track and prioritise the ones most at risk
2. Higher customer retention
A combination of the above will lead to higher customer retention. For example, a customer experience that’s personalised to the individual customer is a better, much more memorable one than a generic experience. Treat your customers like VIPs and they’re more likely to return (and hopefully recommend your company to others too).
This is supported by statistics, with a 2019 Gartner study discovering that 72% of consumers would choose one brand over another if they receive special treatment. As a CRM can consolidate your customer data, it’s much easier for your team to gain a complete view of your customers and provide them with an engaging, personalised experience that keeps them coming back.
Then, there are sales automation features provided by high-quality CRMs, such as automatic notifications that reveal relationship health and risks so your sales team know which customers to focus on.
The Microsoft Dynamics 365 (D365) CRM also offers Microsoft Relationship Sales, a combination of D365 Sales and LinkedIn Sales Navigator, which allows your team to access AI-driven recommendations to drive more personalised engagements that resonate with your customers.
3. The power to drive increased sales
When you boost customer satisfaction and experience, you can boost customer retention. Up and cross-selling to your returning customers is much easier than doing the same to your new customers - your returners already know what to expect when it comes to service and quality.
With a CRM system, you’ll gain a complete view of what your customers expect, making it easier to up and cross-sell (in addition to being empowered to provide them with the personalised experience that has them returning). But that’s not all.
The right CRM solution can help your sales teams in property management by enhancing their sales productivity and performance and leaving them with more time for selling. One key benefit of a CRM system is its ability to facilitate sales-marketing alignment.
Thanks to unified data, your sales and marketing departments can both have visibility into campaigns and vital customer data. Salespeople can pass along their knowledge of customer preferences to marketers, who can then use that insight to tailor their marketing campaigns and execute a better lead nurturing strategy.
Then, marketers can use lead-scoring models to hand off sales-ready leads to their sales colleagues, so they’re in the best position to close deals.
4. Better internal productivity and efficiency
A CRM tool can enhance team productivity and the overall efficiency of your internal processes. We’ve mentioned this several times but let’s just say it one more time: a CRM solution unifies your customer data, bringing it into one place. That means it’s much easier for any team from any department or geographic location to quickly find and access the accurate information they need.
In addition, it’s much easier for your teams to collaborate. The Dynamics 365 CRM tool, for example, integrates seamlessly with other Microsoft solutions like Microsoft 365 ERP or Office 365 so your teams can easily work on the same document, make edits in real-time, share files and more. Much more productive than passing around multiple document versions and then hurriedly trying to find the most recent one.
Here are some further ways a CRM system can boost the internal productivity and efficiency of your property management business:
- Minimises the need for manual data entry as it can scan and convert files from multiple sources into new records
- Automatic suggestions when creating new records speeds up the time it takes to complete routine tasks even more
- Access to built-in sales playbooks and other resources to reduce your team’s training time and empower them to constantly improve their skills (Dynamics 365 Sales provides contextual guidance at every stage of the sales cycle and access to winning sales techniques so your sellers are always in the best position to succeed)
- Sales enablement features intuitively recommend relevant content and training to your team based on their department and the task
You can’t ignore the benefits of using a CRM tool
Whether you’re in the property management sector, manufacturing or retail, the benefits of a CRM solution are undeniable. From improving your lead nurturing process to significant efficiency gains, these are the kind of benefits that are worthwhile for any business.
If you’d like to see how implementing a modern cloud-based CRM system has benefitted a property management business in real-life, check out our customer case study below.
Multi-disciplinary property partnership Carter Jonas wanted to upgrade their legacy on-premise CRM to Dynamics 365 in the cloud. It was a strategic move that would align with their new cloud-first business focus, improve their customer profiling process and centralise their data to improve the efficiency of data analysis. Ready to discover the benefits of a cloud-based CRM Carter Jonas gained?