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Description: Builders and developers spend billions of dollars on three of the four things that companies need to succeed; infrastructure, equipment and design. The fourth factor -- a system for prospect management and conversion -- is just as critical, and missing it is a costly mistake.

HAVE YOU BUILT A HOUSE WITH THREE WALLS Builders and developers spend billions of dollars on three of the four things that companies need to succeed infrastructure equipment and design. The fo rth factor -- a system for prospect management and conversion -- is just as critical and missing it is a costly mistake. A builder or developer without a CRM and lead nurturing system is like a house with just three walls. During the market downturn of 2007-2008 the CEO of a technology platform told us that 75 percent of builders and developers who went out of business did not have a CRM for lead management. In contrast 89 percent of builders and developers who had a CRM survived the downturn. The Merkle Group surveyed 352 senior-level U.S.based executives in 1 billion organizations regarding their company s CRM initiatives and their attitudes about those initiatives. Their findings showed that high-growth organizations--those with both revenue and profit growth--are 50% more likely than low-growth organizations to view CRM as a key driver of their company s success. OF BUILDERS AND DEVELOPERS WHO HAD A CRM SURVIVED THE DOWNTURN OF 2007-2008 But having a CRM system doesn t guarantee results. A good CRM system will show your sales team exactly who to call each day giving them a blueprint upon which to build their sales strategy. But if the CRM isn t set up right or if the sales team don t know how to harness the real power of it then you won t get the results you need. A comparison of two projects demonstrates the power of good CRM implementation. Project One didn t have a single transaction for a whole year. Project Two a sister community that was just a few www.smarttouchinteractive.com 1 miles away did 450M in transactions during the same year. The difference The builder in Project Two implemented an integrated marketing solution using CRM. In less than 12 months Project Two generated 1 100 leads and 23 transactions. for the sales team to start conversations. Before long the builder was able to fly down 10 prospects every few weeks. By using a different strategy for bad leads the builder increased engagement number of tours and average price per home. And he sold more lots. Implementing a CRM and lead nurturing system well and creating a follow up process which leverages technology enables builders and developers to turn so-called bad leads into contracts. A CRM and lead nurturing system for your business is like the fourth wall to a well-structured house. Builders often hear their sales people complain that The leads are no good. But according to Chuck Dennis a 20 year professional Real Estate Sales Consultant The problem isn t that the leads are bad. The problem is the lack of a strategy to work the leads. Here s an example. On a project in Mexico the sales teams told the developer builder that the leads were bad and that the project could not be sold. An integrated marketing and sales technology solution CRM was implemented which tracked email open rates and provided relevant follow up to prospects who d clicked on various links. That made it possible www.smarttouchinteractive.com 2