Profitbase

⚡ A user-friendly deal constructor is now available in the CRM solution for property developers from Profitbase.Global. This new tool opens up the following opportunities for sales managers: ☑️ select properties and create commercial proposals online; ☑️ calculate total deal value including promotions, options and apply various payment methods;  ☑️ add buyers, their representatives and shares; ☑️ book properties and fix the price; ☑️ set up a payment schedule; ☑️ generate documents CRM solution from Profitbase.Global allows property developers to close deals 2x faster and increase conversion to sales up to 30%. Want to learn more? Submit your inquiry → https://lnkd.in/dgVwHGFc #product_updates__ProfitbaseGlobal

Use case: How Parq Development managed to automate the sales workflow and get rid of errors when dealing with leads. Parq Development is an Indonesian property developer with a multinational team. 6 projects are now under construction in key locations on Bali: oceanfront villas, apartments and a private residential complex in a fortress town. Parq Development not only builds residential properties, but also creates infrastructure. The projects are positioned as centers of attraction for people who will not have to think about the lack of kindergartens, health clinics or shopping malls. Before the implementation of Profitbase solutions, managers worked with projects using Excel spreadsheets. The lack of a systematic approach and automation led to typical mistakes: duplicate leads, leaving customers without feedback, long negotiations. The implementation project was led by Gleb Abramenko, business analyst, integrator of Kommo CRM and Profitbase partner. Gleb started with an analysis of current business processes and gave recommendations on how to optimize them. It took one week to set up the system, business processes, workflows and upload properties into CRM. Most of the developer's projects are low-rise properties - villas. To adapt the software for low-rise projects, a small trick was applied: villas were uploaded to Profitbase platform the same way as apartments, but were placed on different floors. Such an approach did not affect the workflow in any way and helped to meet the developer’s needs. Despite the fact that most of the team members were experienced users of other systems, they easily learned how to work with Profitbase software. During two weeks of adaptation managers learned how to work in a new system at a basic level. They mastered the system within a month. Profitbase implementation outcomes: streamlined sales process and improved customer experience. Thanks to CRM implementation, typical errors have been eliminated. From now on managers can quickly find available properties and be sure that these properties have not been booked for other customers. This helps to maintain customers' loyalty to the property developer and provide them with up-to-date information.

How-to: Crona Group case study on eliminating duplicate deals and errors in deal management Crona Group is a full-service developer in Cyprus, implementing real estate investment projects. The developer's primary objective is to provide quality service to its clients, therefore the developer chooses the best software solutions for sales. When Crona Group started developing their own projects, they realized the need for a system to help sales managers handle projects. Profitbase was selected on the recommendation of international partners. The software was implemented in several stages. First Kommo, and then Profitbase were implemented. Business processes were described, sale funnels were optimized, and the team learned the new software and workflows. Then Smart catalogue was installed on the website. On the final stage Profitbase team configured XML feed export for partner real-estate agencies and property classifieds, provided tools for generating commercial offers. The Profitbase implementation resulted in simplifying the sale process, allowing the Crona Group team to monitor the sale process in the single window mode. All objects are stored in a single database, and managers do not have to use spreadsheets. Apart from that, Crona Group improved their workflows and saved on IT costs. Developing an in-house solution would require serious investment. Real estate development is one of the areas where an error can cost the earth. Clients and assigned managers, the process of selling units, fixation of deal stages - everything should be transparent, so that all team members can understand the current status of any deal in the system. It is vital for all parties involved to have relevant information in real time. And thanks to Profitbase, Crona Group does not have duplicates and errors related to deal management.

How should property developers manage prices to maximize their profits? Currency exchange rates, key interest rate, investment appeal and other variables have a direct impact on demand for real estate. Non-liquid lots remain on sale until the end of the projects, and are sold only at discounted prices. Liquid apartments, on the contrary, are sold too quickly. And both of these scenarios lead to lower margins. To avoid such scenarios property developers regularly update prices. There are various tools for managing prices, let’s look at the available options. Manual price management This approach implies the deep involvement of business analysts and the Head of Sales. They analyze internal reports, sales performance, key market indicators etc. and then recalculate the cost of properties using Excel formulas. Next step is to gain approval from the top management. The prices can be updated only after completion of all the above procedures. This approach is often used for price revisions at the projects selling up to 100 units. This is also applicable to projects in the premium segment, where every unit is unique and it is hard to estimate the cost based on ratios. This is a time consuming method and there is a high risk to update prices with a delay and lose revenue. Managing prices with AI When the manual method becomes inefficient, dynamic pricing solutions can be adopted. Dynamic pricing based on artificial intelligence is the very magic pill that is believed to be able to solve sales problems once and for all. System algorithms collect project data and assess market conditions, make recommendations and publish prices on the website. These algorithms eliminate the human factor and ensure that properties for sale are always in line with demand. The first disadvantage of this method is the cost of development (it will require large investments). To these numbers, you should add the cost of implementation and support.   The second disadvantage of AI-powered dynamic pricing is that it does not exist. There is not enough data to make a reliable forecast: the data collected from the market is not accurate, the developer’s data is insufficient. Automated dynamic pricing However, it is possible to automate the collection of project and/or market data, price updates and publication, assortment analysis and report generation. These features may be found in some digital services on the market. For example, dynamic pricing service from Profitbase allows developers to select all modules or only those with the required functionality. This digital service can be adapted to the needs of a particular developer. It shows efficiency both on small projects under construction with the area of 8-10 thousand square meters and on large projects with the area of 100-150 thousand square meters. 

Fill out spreadsheets or focus on sales? How a property developer from Kazakhstan implemented CRM and accelerated closing deals. In this case study you will learn how BuildInvest migrated sales from spreadsheets to the industry-specific CRM and how this resulted in business process transparency and improved sales team efficiency. BuildInvest is a leading property developer in Karaganda, operating in the real estate market since 2013. To date the developer has completed the construction of more than 10 residential complexes. The implementation process was managed by Zigzag Group (a partner of Profitbase). The company specializes in software development, integration services and turnkey marketing solutions. When Zigzag Group started their first project with BuildInvest, managers worked in Excel spreadsheets. The company grew rapidly, the number of properties increased and this led to the launch of the sales department. The business processes became more and more complex, working in Excel was causing more confusion than clarity. The prices for apartments changed several times per month, the layouts and specifications could be adjusted up to 5 times during construction. Thus the sales team faced the following situations: 1. Due to constant updates many Excel copies were generated with irrelevant and outdated project information. 2. Data was not synchronized in real time. It happened that the same apartment could be booked twice. This caused the decreased customer loyalty and sales performance. That's when the company realized the need for change. BuildInvest migrated to the CRM integrated with Profitbase. This resulted in business process transparency and improved sales team efficiency. ⁍ Managers are focused on their primary function of selling properties, not editing cells. They work in the same system, all the sales leads are registered in the CRM and distributed automatically. ⁍ The data is stored in one system. The Head of Sales can assess the quality of the sales calls and compliance with the guidelines. ⁍ The deals move through the adopted sales funnel and managers cannot skip any mandatory stage. ⁍ Managers book apartments in the CRM and see the current statuses of properties.

How to create a sales funnel for property developers and organize work of the sales team With increasing competition, the number of projects under construction and sales leads, property developers need to make the sales process more manageable. Developers use various solutions for automating workflows and reducing risks of errors. One of such tools is a sales funnel. If you are interested to learn more about this tool, please check our previous post → https://lnkd.in/e_HXfagv To create a sales funnel, property developers should make sure that all business processes are described properly and their customer base is manageable. 👉Standardize your business processes The sales funnel is created to facilitate the work of a specific sales team of a specific developer. To do this, the tasks and processes of the sales team must be described in detail. This is a real challenge if each manager leads customers to close the deal in different ways. Therefore, at the first stage you should describe the unified business process for the whole sales team.  When implementing a sales funnel, this new approach is likely to be rejected by the team unless you have a unified sales process. The funnel will not correspond to reality and employees simply will not use the tool. So you need to describe the business process in a text document, an Excel spreadsheet, or as BPMN. BPMN is the link between business process design and its implementation. This diagram clearly shows the nodes, cycles and bottlenecks of the task. Analyzing business processes before implementing automation systems and sales funnels will make the implementation transparent and reduce the risks of tool rejection. 👉Implement a CRM The sales funnel is the main tool in CRM. A CRM system is a customer relationship management system. It helps developers to manage their client database: store information about clients, their contacts, interaction history and preferences. It allows developers to understand customer needs, create personalized offers and fulfill obligations to clients on time.  For example, the sales manager promised to call the customer after lunch, however he took it down and forgot completely. The CRM system will remind the manager to contact a potential buyer. Alternatively it will send a reminder to the client of the upcoming meeting and a list of documents for preparing the contract. Accurate fulfillment of obligations is the key to the client loyalty, deal success and movement through the sales funnel. The result is a manageable deal closure process and a complete order in the employees workflow.

Like a mosquito bite: sales automation without pain With the increasing number of projects under construction property developers feel the need to strengthen control over the sales process. Most often they want to automate: 💻The work with inquiries - their distribution between managers, customer segmentation, duplicates control. 💻The work with the objects (residential units) — transferring project data to the CRM, booking apartments through the CRM, managing reservation policy. 💻Communication with customers — so that the system reminds managers when and to whom to call, and even what to say. 💻Document workflow and reporting — so that the managers could generate most of the docs automatically and save time for sales. There are specific tools for completing each task in CRM. And then comes the most challenging stage — software integration. Here are three main rules that will help you complete integration painlessly and avoid mistakes. Describe in detail your sales processes from generating a new lead and establishing the first contact with the client to the property handover and after sale service. Assign the project manager, who will lead the integration on your side. Test drive the system after completion of integration works. Your managers will definitely give the first feedback within 2-4 weeks: bugs, inconveniences, opportunities for improvement etc. The project manager takes responsibility for the system setup, but the system optimization should always be based on the end-user’s experience. Remember that CRM is not a panacea that can be set up once and forever. This is a live system demanding regular updates, optimization, adjustments to suit constantly changing business needs. Otherwise, the system quickly becomes outdated, inconvenient and useless.

What is a sales funnel, and why do developers need it? The sales team received an inquiry. The manager spent time on processing it and even approved a discount for the customer. The deal was not closed. What went wrong? At what point did the client leave and how can developers make an impact on the progress of the deal? A sales funnel could help. This is a tool for attracting and retaining customers. It optimizes the sales process, increases conversion and influences interaction with potential buyers. The funnel stimulates the customer to continue his journey through all stages, from the moment the need is realized to the deal closure. The stages of the funnel are related to the actions of the seller, not the buyer. Each stage affects the final conversion: New lead →  First contact → Appointment →  Reservation → Contract → Success The funnel contains a number of actions the manager must perform and bring the client to the deal. Every action should convince the customer that you are offering what he needs. As a result, with its help you can: 1. Influence sales conversion Analyzing the sales funnel will help find weaknesses in the sales process and optimize it to increase conversion. The developer will be able to identify the stages where he is losing potential customers. 2. Get reports on current deals The sales funnel provides accurate and visual reports on the sales performance. 3. Keep under control the average purchase value from the beginning to the end of the deal Analysis of the average purchase value at each stage of the funnel will show bottlenecks in the customer journey. For example, a client booked an apartment and a parking space, but ended up buying only an apartment. The sales funnel will show at what stage of the deal the average purchase value decreases. 4. Evaluate the sales performance  Managers can track employees' performance and evaluate their efforts. The funnel will show at what specific stage sales managers face problems. 5. Forecast sales The sales funnel will allow you to track each stage of the customer journey and predict the likelihood of closing a deal. 6. Improve communication between departments Standardizing the sales process will improve communication between company departments involved in the deal processing. The sales funnel will set a single algorithm for all departments and bring transparency to the business process. The most important thing is to set up the tool correctly. We'll tell you how to do this in future posts.

How-to: Uzbekistan-based developer First Development Group implemented a digital ecosystem and increased profits by 11% Currently the residential property developer has 6 completed projects and 5 new projects  are coming soon, in this regard  FDG decided to update the tools for dealing with clients and prices. 1.  Implemented Profitbase  + amoCRM for the sales department and agents. «Profitbase module for CRM is a user-friendly tool. From now on  I can quickly upload   layouts and manage them in a smart way. Our sales team didn’t  have any questions after the training.» — Sanzhar Yusupov, Head of commercial project implementation at FDG. 2. Installed  Profitbase Smart Catalogue «Once a  demanded product is created, the developer needs a reliable digital solution  for managing inventory and marketing this product. We started using the Profitbase Smart Catalogue to achieve these goals. It allows you to keep records on your stock and show available residential units on the website.» — Sergey Potapov, Chief Commercial Officer at FDG. 3. Launched Dynamic Pricing System The solution automates pricing, analyzes the range of properties in sale and sell-out trends for all unit types, monitors  compliance with the financial model and publishes updated prices in the Smart Catalog and CRM. «People make mistakes, but customized algorithms do not», — Dmitry Mintsevich, Head of IT at FDG. Hereby FDG: → reduced the risks of rapid sale of the most liquid properties and increased monthly profit by 11%; → increased the lead generation on the website: from 0 to 40 leads per month → reduced time on updating prices from 1 working day to 40 minutes. At the moment FDG plans to scale their business and enhance the capabilities of their digital ecosystem with the new solutions from Profitbase.

You’ve received a sales inquiry, but you haven’t managed to sell an apartment. What’s  wrong?   Purchasing an apartment is a long process. In order not to lose customers you should develop your sales funnel in detail. Let’s find out how to build it! Usually the sales funnel is created by the Head of Sales, who must have a deep understanding of the day-to-day tasks that his team deals with. For example, how the Sales Office delegates tasks to on-site sales managers. Do they use the same sales funnel or not? How to achieve compliance and avoid chaos? Analyze all the scenarios and create your funnel based on the current business processes. 1. Describe the business processes of your company 2. Describe the sales process 3. Identify the stages of direct interaction with customers — from warming the lead to closing it in a deal 4. Set up the stages of your sales funnel Your sales funnel should align with the customer journey. Make sure you have not included unnecessary steps. Keep it simple. Will they buy now? Here is the check list! ✅Responsibility If you have the stages like “Customer is making a decision” or “Customer is thinking”, you are on the wrong track. Every stage of your sales funnel should correspond to the actions of your managers. How can they make an impact on the progress of the deal? If any stage is not related to the actions of managers, it should be excluded from the funnel. ✅Consistency Each stage should bring the deal closer to a sale. The manager must understand the desired result of the interaction with the client at each stage. ✅Clarity Every member of the sales team should know the goal and associated tasks of every stage: what needs to be done so that a potential buyer can move on to the next stage? Interested to see the examples of property developers’ sales funnels? Leave your comments below this post!