What is and how is the sales funnel applied in real estate marketing?

Many of the strategies we have analyzed in Faisal Hills influence one way or another in some of the phases of the sales funnel in real estate marketing (also known as “sales funnel”). But you know

What is the sales funnel?

Sales funnel or funnel is defined as “the process by which potential sales opportunities are qualified and selected to turn them into real opportunities that end in transactions” (Wikipedia).

Today we want to stop at this concept to clarify some doubts that the readers of our real estate blog on property for sale have asked us.

In short, the sales funnel describes the stages that a customer travels from when he becomes aware of a need until a sale is closed. These stages have their own characteristics, depending on the sector and the type of product. Buying a gum is not the same as buying a home.

How is the Sales Funnel applied in real estate marketing?

Due to these unique characteristics that our sector has, the sales funnel is more complex than in other markets. In the real estate purchase decisions influence numerous factors (economic, social and personal) that we must take into account to understand a changing customer.

In addition, to finish complicating the portrait, the Internet has replaced the first contact with the client, giving prominence to Skymarketing over the classic visit to an agency.

1.  Lead or customer contact stages

The first of the sales stages is the one that has undergone major transformations in recent years. Since real estate portals and agencies have taken the panorama online, real estate information is available 24 hours a day.

As a consequence, in this first stage, different real estate strategies are set in motion to achieve online visibility, such as advertising campaigns for real estate in Adwords, or more recently, content marketing actions.

Whatever the actions of online real estate marketing that are launched, the objective of this first phase is to draw the attention of the clients on the competition and make a first approach. Depending on the action, we will get different types of information from the potential client.

For example, if we have carried out an advertising campaign on social networks to offer free content in exchange for the client filling out a small form, we will have generated a database on which to work later.

1.  Prospect or qualification stage

The next stage has also undergone profound changes in recent years. At present, real estate sales are no longer conceived as a process of “persecution” of the client, but in an advice from the agent that helps, educates and gets involved in the process.

This advice that establishes a relationship of trust between the real estate agent and the potential client is built like all human relationships, with time and dedication.

To do this, you can launch email marketing actions for real estate , offering the customer new content of interest that help our brand position itself in its memory (top of mind).

These are two of the four stages of the well-known sales funnel. In the next post of sales techniques we will reveal phases 3 and 4.