If you’re looking to establish your commercial real estate business, you might already have a website or social media account to develop an online presence. In this competitive market, it is not enough to create an online presence as the true success of your business depends on how many of those unknown website visitors converted into new clients.

A simple way to understand the sales journey of closing a deal is through a sales funnel.  This breaks down conversion and two specific and measurable stages. Follow the steps below to create a commercial real estate lead funnel.  5 Steps to Create a Commercial Real Estate Lead Funnel.

Establish Milestones

Start by breaking down the client’s journey into different stages of your sales and marketing process. For example, if your website has a sign-up form, one milestone can be how many people sign up for your newsletter.  Compare this to how many people visit your website. By breaking down the process into small and measurable goals, you can understand which point becomes the bottleneck limiting your lead conversion.  6 Commercial Real Estate Marketing Strategies to Boost Your Online Presence.

Select KPIs

The second step is to select relevant key performance indicators which measured the activity at each stage. The important thing to account for before deciding KPI’s is that they should be objective and easily quantifiable, such as the number or percentage of people who submit their information on your website.

Performance Tracking and Reporting

Tracking and reporting helps you see what is working at each stage.  When you can see what is working, you can adjust the not-so-successful areas of the funnel and improve your client’s experience. This allows you to troubleshoot where you are going wrong. For example, you can investigate why people leave their forms half-filled; perhaps it’s because of the length or complexity of information required.  You can simplify your forms and try again.  5 Goals for Commercial Real Estate Agents.

The Funnel Stages

Lastly, let us take a look at the actual stages of the funnel and what exactly they consist of.

Awareness

This refers to the reach and overall awareness created for your business.

Interest

The number of visits you have on your online platforms.  It also includes the number of people that engage with your website, newsletter, and social media platforms.

Conversion

Potential leads have given you their contact information, either on a contact form or through other means like requesting your ebook.

Qualification

Ensuring a potential lead is able to follow through and close a deal.

Closing

Closed deals once all the paperwork has gone through, and it is the final step of the funnel.