MiNC Generates Additional $13 Million in Revenue within Eight Months of Deploying Salesforce

"Salesforce is so easy to use—we required hardly any sales training and the teams really enjoy working in the browser-environment. By customizing the system using the Apex platform, they are working with a system which really meets their everyday needs."

Overview
Challenge
  • Capitalize on the property boom in Dubai and The Middle East
  • Eliminate reliance on multiple different contact management systems
  • Sales management reporting was almost non-existent
  • Overcome concerns regarding data security
  • Increasingly difficult to segment and target relevant groups of sales leads
Solution
  • Leading property-based wealth management company deployed Salesforce SFA to 20 sales professionals in Dubai and London to unify real-estate sales information, target prospects and manage multi-stage marketing campaigns
Results
  • Generated an additional $13 million in revenue within eight months of deployment
  • Provided a unified, real-time view of every customer, every sales situation, and every customer engagement
  • Customizing the system using the Apex platform ensured the company works with a system which really meets their everyday needs
  • Helped create, execute and manage the results of multi-stage, multi-channel marketing campaigns, aimed at luring new property buyers
  • AppExchange provided near instant access to tried and tested sales applications—a t no risk to MiNC
  • Introduced accountability for each item of marketing spend
Full Story

Visitors to Dubai will be overwhelmed by the scale of construction work taking place. It seems also every corner of the city is undergoing renewal. Leading property-based wealth management company MiNC is at the center of this growth, relying on Salesforce to target, capture and retain customers for properties and mortgages in the region. MiNC has generated an additional $13 million in revenue within eight months of deploying Salesforce, which is used 95 percent of the time by the team, and the system is tuned to meet the unique real-estate sales needs of this dynamic business. No wonder the London operations also decided to deploy Salesforce when the saw the results achieved in The Middle East.

Unique developments in high growth areas

MiNC Property Enterprises is the UK’s leading property-based wealth management company. A clear focus on unique developments in high growth areas of selected cities has secured the company’s leadership position—whether in procurement, management services or investment advice. Established in 1978, MiNC has representative offices in London, Dubai and Johannesburg and an impressive portfolio of prime owned or part-owned residential property.

The decision by the UAE Government to diversify Dubai from a trade-based but oil-reliant economy into one that is service and tourism-oriented has made real estate more valuable; and led to the property boom Dubai is currently experiencing. Construction programs on a massive scale have made it one of the fastest growing cities in the world. This property boom is largely driven by large-scale projects such as ‘The Palm’ and ‘The World’—so vast the developments can be viewed from space as the shape their name represents.

This dynamic growth, fuelled by the buoyant economy, is creating significant opportunities for real estate companies: just ask MiNC. All of these property sales leads, opportunities, contacts and accounts need careful management though. As MiNC expanded, the company continued to juggle multiple different contact management systems, from Outlook files, spreadsheets and paper systems, through to the information that stayed in the sales people’s heads (sometimes even after they had left the company). Not the most effective way to operate a fast-growing property-based wealth management company, as Richard Hayes, Computer Systems Manager, MiNC explains.

"We had different customer databases on each laptop," he says. "Because we had so many separate instances of customer information, there was too much data repetition, reporting was almost non-existent and of course there were concerns regarding data security. Moreover, it was increasingly difficult to segment and target relevant groups of sales leads."

Trialing Salesforce for free for one month, Hayes and his colleagues in Dubai were overawed by the ease-of-use, rich functionality and simple customization of the multi-tenant on-demand business web service. "The web-based, on-demand approach had strong appeal, because it meant we didn’t have to manage any software and rely on a complex IT infrastructure to support it. A single view of each customer was accessible by anyone with an Internet connection, and it gave us the opportunity to collaborate with our London headquarters on sales negotiations."

Ninety five percent user log-in rate

MiNC deployed Salesforce SFA to 11 sales professionals in Dubai to create a single view of mortgages, lettings and all the other groups of real-estate customers. A 95 percent log-in rate is testimony to the popularity of the system. "Salesforce is so easy to use—we required hardly any sales training and the teams really enjoy working in the browser-environment. By customizing the system using the Apex platform, they are working with a system which really meets their everyday needs."


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