This guide provides a straightforward overview of the Markets feature in 8020CRM, a crucial tool for segmenting data, managing listings, and improving buyer targeting. Whether you're a real estate professional or managing a large portfolio, Markets helps streamline your CRM by organizing properties, contacts, and transactions into distinct categories.
Accessing the Markets Feature
To get started, ensure you're in the 8020CRM app on your Salesforce platform. Depending on your permissions, you may see the "Markets" tab across the top of your screen. If not, click on "More" to find it. Once in, you'll be able to view all existing markets or create new ones.
Creating and Managing Markets
1. Naming Your Market
The first step in creating a market is assigning it a name. This can be anything that helps you define the segment, such as "Arizona Rentals" or "Washington D.C. Properties." The flexibility here allows you to organize markets based on location, property type, or asset type.
2. Defining the Location
Next, select a location that fits your market—whether it's a state, city, or collection of counties. Locations are important because they help match properties with buyer preferences, especially through the "buy box" feature.If you're setting a city, it’s helpful to pair it with a state for clarity. For example, selecting "Colorado" will automatically filter available cities and counties for you, making it easier to choose the right one.
3. Market Activation
If you want the market to be available to users and buyers immediately, mark it as "Active." This setting ensures it appears on your portal and can be used for buyer matching, scheduling, and other system-wide automations. If it’s inactive, it will not show up in public views or be selectable by users.
Enhancing Your Market with Additional Features
1. Adding Photos
A market photo may seem like a small detail, but it plays an important role in visually organizing your listings. Images you add will display on your portal, making it easier for buyers to navigate. High-quality photos are recommended, but you can use any publicly available or personal images.
2. Time Zones
If your market spans across regions or includes multiple properties in different areas, consider setting a time zone. This ensures that appointments and scheduling for agents and clients are seamless and properly aligned across locations.
3. Descriptions and Hierarchy
Adding a description helps clarify the purpose of the market, such as outlining specific criteria or market rules. You can also establish a hierarchy between markets, enabling better organization if you're managing multiple sub-markets (e.g., "Arizona Rentals" under a broader "Arizona" market).
Automating Market Data
Once you've created your market, 8020CRM automates several processes to simplify data management:
Automatic Relationships: When a market is created, it instantly establishes relationships with your contacts, properties, and transactions. This means all relevant data within a specific market can be tracked and reported effortlessly.
Lead and Transaction Rollups: Over time, you can view the number of leads, opportunities, and transactions associated with each market. This allows for better performance tracking, whether you’re evaluating leads in Denver or sales in San Jose.
Cloning and Editing Markets
8020CRM makes it easy to create variations of existing markets. For instance, if you have a "Colorado Properties" market, you can clone it and make changes like renaming it "Colorado Rentals" or updating the associated photo. This saves time and ensures consistency across your market categories.
Conclusion
The Markets feature in 8020CRM is a powerful tool that allows for clear segmentation of your data, making it easier to organize and target specific regions, property types, or buyer groups. By automating relationships between contacts, leads, and transactions, Markets ensures that your CRM is always up-to-date and manageable.
For more guidance or questions on setting up or optimizing markets, reach out to 8020CRM support for personalized assistance.
By understanding how to leverage Markets effectively, you can boost your CRM's efficiency and gain deeper insights into your real estate operations.
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