It can be a daunting task to find commercial real estate leads that are a good fit for your business. And by now, you’ve probably worn out your list of referrals from friends and family, and it’s time to find another avenue. So, where’s the next place you should look? What options are available to you? You guessed it, the answer is social media!
207 million people in the United States use social media, so of course, it should be an integral part of your marketing and sales strategy. Besides posting to social media so tenants and buyers can find you as an agent, you should also be actively searching for those tenants who are already searching or will be searching for commercial real estate space in the near future. If you aren’t very familiar with social media, it can seem a bit intimidating to begin your search. Where do you start? And what do you search for?
In this video, Andrew Bermudez, Co-Founder and CEO of Digsy AI explains how to best use social media to find people who are actively searching for commercial space. Although this video is geared toward CRE, the practices taught can also be applied throughout the sales industry.
As a salesperson, following up with the leads in your funnel is incredibly important. In fact, over 80% of all sales are made between the 5th and 12th contact with each prospect. However, keeping up with your prospects is hard work, and only 10% of all salespeople make 5 or more contacts. It can take many hours per day and can substantially lower your productivity in other areas. How can you work more efficiently, but still follow up multiple times?
In this video, Andrew Bermudez, Co-Founder and CEO of Digsy AI talks about how to successfully hire a Sales Development Rep or Virtual Assistant to help you close more deals and reach your sales goals.
What You’ll Learn:
As a sales development representative (SDR), you play a very important role. You are responsible for bringing the right customers to the business, thus helping the sales team become more efficient and close more deals.
If you’re just starting out as an SDR, and you want to succeed in this career path, these are the seven things that you must do.
Salespeople are used to doing all the talking. In sales development, however, the more productive thing to do is to let your prospect talk while you do the listening. This helps you understand them better as you find an opportunity to ask follow-up questions that’ll make them realize the value of your product.
Host Andrew Bermudez, CEO and Co-Founder of Digsy AI, explores 7 sales apps that make is easier for salespeople to generate more sales.
- Easily book meetings with prospects
- Streamline email communication
- Easily stay on top of important emails
- Easily track & execute to do items
- Easily find important documents
- Easier internal team communication
- Learn how to improve sales on-the-go
A sales development team needs ways of measuring and tracking customer interactions, particularly when it comes to lead generation and prospect conversion into deals. After all, your sales development team is dedicated to increasing your business and keeping existing customers through advertising methods and the generation of qualified leads. It is vital to a successful campaign to be able to objectively measure which methods consistently work best. This is where metrics come in for your sales development or SDR team. The four most effective ways of tracking these metrics are discussed below.
Total Amounts of Qualified Leads
This amount is very important, and it helps your company forecast the value of your leads and how well your campaign is working. For instance, after leads are turned over to an account executive or sales rep, pricing is then discussed. At this point, there is usually a monetary value attached to this opportunity. When you have a month’s worth of figures totaling the value of all the deals your team has generated, then you can figure out the total value of your pipeline. It helps you with your conversion rates and in filtering out opportunities that were not a good fit or could not proceed due to budgetary restraints. Problem areas can be discovered at this stage, including areas where demos may be over-booked or leads which are being forwarded that are poorly qualified.
Referrals are an extremely effective way to generate valuable business. Recent studies show that customers that receive a referral are much more likely to purchase a product or service recommended to them by someone that they trust.
In 2016, the Nielsen Market Research team conducted a study about how powerful the referral market can be. The data from the Nielsen Market Research team’s study shows that a significant amount of people seek referrals when making a purchase. In fact, 82 percent of Americans would ask family members and friends for recommendations.
Cold calling is a huge part of a sales reps daily activities and could be extremely stressful and time-consuming. You can spend hours and hours cold calling leads to find that home run deal, but who has time for that?
In this video, Andrew Bermudez, Co-Founder and CEO of Digsy AI talks about when the best and worst times to cold call your prospects. With this handy sales strategy, you’re able to plan out your day, waste less time and convert more prospects into HOT leads — resulting in closing more deals!
A study by Lead Response Management examined data over three years that included 15,000 leads and over 100,000 call attempts. The data from this study showed some important and critical information about effective lead follow-up.
- 80% of calls go to voicemail.
- 90% of the voicemails left are never returned.
- The optimal length of a voicemail is 8-14 seconds.
When is the best time to call your prospects?
A study by RingLead found that 90% of first time voicemails never get returned. In another study by InsideSales, they found that the average response rate for a voicemail is only 4.8%. With this in mind, you should always make sure to follow the voicemail up with an email. This prompts the prospect to check their voicemail or reply to your email. But what if you don’t have your prospect’s email address?
If you don’t know your prospect’s email address and don’t know how to obtain it, there are many tools that will help make the job easier for you. No more hunting down your prospect’s social media profiles or scouring their website for contact information. Utilize these tools and you’ll get the email address you’re looking for in a jiffy!
If you’re in the commercial real estate industry, you may come across sales and marketing job titles which seem similar but are actually quite different. The more common job titles that CRE brokers experience are Marketing Assistants and Sales Development Rep. While they both share the similar goal of selling a product or a service and generate leads (AKA: generating more clients), their responsibilities are very different.
A person goes through different stages before they become a buyer/client. With each stage, a specific person is responsible for ensuring that the customer goes through the pipeline. Marketing assistants are usually the ones to come first in the sales process. They are responsible for making ads, banners, flyers, and newsletters to help the potential tenant or buyer become aware of your product or service. But what happens most of the time is that the Marketing Assistant spends a lot of time creating marketing materials and flyers to market existing properties. That leaves little time for them to try to drum up new business.
Sales statistics, and knowing how to use the information to your advantage, is an integral part of implementing a great sales strategy.
As you’ll see below, sales statistics show that salespeople who follow up with prospects 5-12 times contribute 80% to the bottom line, and salespeople who only follow up 4 times contribute only 10%. 48% give up after only one contact. Digsy AI assists agents by making it ridiculously simple to follow up and achieve that 8x improvement.
Here are 100 statistics to help you improve your sales strategy: