In an ever-changing market like the housing market it’s important to stay on top of changes as they happen.
You might live and die by your subscription to The Negotiator newsletter. And though relying on industry news to find out what to expect over the next few months can be helpful, solely having that be the only source you let shape the way you run your business is missing one vital piece of the puzzle…
…Your own day-to-day activities.
From negotiators working alone or with a small team to the massive corporations with a branch in every town, by not analysing the work your team do you’re likely missing opportunities for growth.
And it’s not just for growing your business; assessing and acting on your discoveries can have many benefits across your organisation. So here are five ways that analytical reporting can shape the way you do business.
1. Smarter Spending
Reporting is undoubtably a time-investment, but it’s an investment that can give instant returns in the form of cost savings.
How certain are you that every penny you’re spending in your business is worth it? Sure, that extra packet of biscuits or that coffee machine might just be there to keep your staff smiling, but your bigger investments – like your website, your listings on online portals, your advertising in general – should be bringing more money into the business than they’re costing.
Tracking leads as soon as they come in, you might quickly discover that some of your most valuable customers are coming from one specific place or that you’re not getting leads from one of your biggest expenses.
2. Management
Managing a team, no matter the industry, can be a challenge. If you have a Sales and Lettings branch, just keeping track of each team member’s daily to-do list is hard enough, add on top of that, facilitating growth and development, and helping them give the best service they can to your customers.
This is where reporting can really help. With strong KPIs in place for your team and a process to help you track each of these easily, you can ensure that every team member is on the right track.
3. Tracking trends
As we said earlier, industry magazines don’t have to be your only source to track trends within the sector – you can be your own source! You’ll have a much better time reacting to your business’s successes and changes than you will responding to general industry trends.
Understanding what impacts success, and sharing that with your team, can help you make the best of every situation. And if you start to see numbers declining, you’ll be able to recognise that changes need to be made long before it’s too late to do so.
4. Growth
We’ve already discussed how reporting can help you save money, but it can also help you decide how you spend money. Whether it’s about finding areas that need investment to improve them, or where you’re already finding huge success, by tracking and analysing these parts of your business you can start to find real, concrete pathways to growth.
But investing is only one part of growing your estate agency. Reporting can also help you identify sales opportunities from leads and customers. By gaining further insight into the market, and your customers, you can also begin to help encourage more business from the data you have on leads.
This means, from marketing to sales, with a broad view of your reporting, you can gain useful insights and close more sales.
5. Share your insights
In the property market, you’re there to support sellers and buyers, renters and landlords, and if you have your own insights into the industry, you have content that will be useful to them.
We can all say that “many people look to sell their house around January/February” but it could be that you see more people looking to downsize in your area in October, or you see an uptick in rental enquiries around March.
All these insights are useful to sellers and landlords who might not get the opportunity to assess the industry as much as you can. And this doesn’t just stop in day-to-day conversations – if you want to present yourself as an expert to your customers, by utilising your own reporting you gain an unparalleled insight into your local market.
Taking the time to report on all angles of your business gives you a huge amount of possibilities, and we’ve seen our users implement transformative change thanks to the backing of our data.
With Callwell Pro, you don’t just get complete control over your leads; you get insights that give you the power to analyse your leads, your staff, and your business. This includes seeing how many leads you’re receiving and from which sources, how many leads are actioned daily(and even hourly), and how many of them are being missed, it even lets you see call durations and outcomes instantly. Our reporting system is designed to get you the insights you want, in a well-presented, understandable and actionable way.
And don’t worry, Callwell can update your CRM with all of that information. If you want to find out more about what Callwell Pro can do, get in touch with us today at sales@callwell.co.uk.
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