Being part of a larger real estate group, the company is known for its townships in different parts of India.They are the co-promoters of a massive township in one of the major cities and is planning to expand their wings across the country. The company also has a no-debt policy, whichhas helped the brand earn a sterling reputation and achieve 100% inventory.
Before 2017, the enterprise was only into real-estate financing. In 2017, they started developing their own projects and thus had to undertake marketing and sales operations. As projects and teams grew in number, excel sheets were no longer feasible. Teams were missing crucial follow-ups and were not effective at prioritizing high-intent leads.
Here are some of the challenges faced by the enterprise:
1. Low conversion rates because of missed follow-ups and site visits
Sales reps maintained their tasks and appointments on spreadsheets and notes. This was error-prone, with no option to get reminders or view pending/overdue appointments. Moreover, sales reps were not able to effectively prioritise high-quality leads.
2. Lead management processes were manual and inefficient
Capturing leads from multiple sources, qualifying them, and distributing them to sales teams was a tedious and time-consuming process. This increased the TAT and the total sales cycle.
3. No visibility into the sales funnel
There was no way for the Manager of Sales and Marketing, to see what their sales teams were doing and ensure leads were being promptly responded to. They also did not have a system to track the lead journey; ie: how many leads were on which stage of the buying process.
They started looking for a CRM that could help them tackle these challenges. During the buying process, they also considered Sell.do and Paramantra, but decided to go with LeadSquared because of the platform’s flexibility and value for money.
Here’s how LeadSquared helped the team augment their sales and marketing efforts.
1. Eliminating manual tasks with complete process automation
The enterprise integrated all their lead sources–Housing.com, Instagram, Channel Partners, and Site-Visits– with LeadSquared. Now, LeadSquared automates lead captures from these sources and distributes them to sales teams on the basis of project and availability.
“Automating my lead management on LeadSquared dramatically reduced our TAT, and honestly, saved me a ton of time and headache of manually downloading and distributing leads.”
After completing the initial conversation, the rep simply fills out a couple of yes/no qualification questions, notes down the details, updates the lead status and enters a follow-up date (upon which a task gets created automatically). To optimise this process, the team created multiple dropdowns for entering lead details, which further brings down the scope for human error.
2. Teams plan, prioritise, and perform better
“Earlier, reps would normally do 10-15 follow-ups a day. Now? It’s almost 40-50 follow-ups.”
At any moment, each sales rep is working with 100-115 live leads.
Manually planning and maintaining to-dos was naturally high effort and error prone, leading to a lot of missed follow-ups and site visits.
To solve this, LeadSquared helped them create smartviews for the sales teams. Reps can view all pending, completed, and overdue tasks right from their dashboard and also get automated reminders for the same.
Now, an average day in the life of a sales rep is simple and looks like this.
Check pending tasks, choose lead according to stage (Cold/Warm/Opportunity)
Read the last activity of the lead (What rate was pitched/What product was explained)
Create new lead activity
Go to step 2.
Prioritizing good leads and timely follow-ups have helped the enterprise achieve a whopping 7.5% site visits/closure rate. (More than double the 3.5% industry average)
3. Creating custom workflows for better lead management
The enterprise has been able to create a lot of interesting workflows to enhance its sales output. Take this example, where the sales workflow has been customized in such a way that the company doesn’t lose out on the lead, even if the lead is a dead lead.
“If, for whatever reason a deal is not able to go through, the lead is automatically transferred to the feedback department. The feedback department then takes note of the buyer’s pain points and promptly offers solutions for the same, trying to get them back into the sales process.”
The manager wanted a system wherein they could gain some form of insight into how different sales teams were performing. Now, they don’t have to look beyond ther admin dashboard.
The enterprise customised their dashboard to see which sales manager has how many leads and what are their lead stages. They can also keep track of how many follow ups have been completed, how many are pending and how many have been missed.
This has facilitated accountability and transparency, motivating sales teams to perform better.