Question

Topic: Taglines/Names

Commercial Real Estate Crm Software Name Needed

Posted by sb on 9/1/2010 at 6:15 PM ET 500 Points
We've recently developed and will roll out a CRM software module that will focus on providing a bridge between Borrowers and Lenders. Key words:

Private Banking
Matchmaking
Bridge
Realty
Advisors
Capital
Intermediary
Commercial

Need a name for this product. With a tagline.

Users of this will be folks who are commercial mortgage professionals looking to organize and bridge their deal flow to borrowers.
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RESPONSES

  • Posted on 9/1/2010 at 6:53 PM Accepted
    Can you be more specific about the target audience? Where are they? What do they do now? How do they describe their needs/frustrations with the current solutions? Where is this on their priority lists? Does each person buy what he/she needs, or is there a company "purchasing agent" who handles it for many people? Who actually sells the product?

    It sounds like you identified the need before you developed the solution. How did you do that? Did you conduct market research? Is the report of that study available? If so, that might have information we can use.

    Finally, is the target market already buying products or services from your company? Will the company name appear on the new product? If so, we need to know the company name.

    We can definitely help you. We just need to understand the situation in more detail first. It's more about your target audience and their perceived needs than it is about the product you've developed.
  • Posted by sb on 9/1/2010 at 8:50 PM Author
    Mgoodman: Great questions. Thank you. I’ve answered each question underneath each one that you asked. I hope this helps.

    Can you be more specific about the target audience? Where are they?
    A: These folks are a combination of mortgage professionals who broker (or want to broker) commercial bridge loans. They work mostly from their basements and often fail to cultivate the credibility necessary with counterparties because they lack, among other things, organizational skills, and institutional polish demanded to work in this high dollar business. (Think of websites with photocopiers printing off 100 bills…).

    What do they do now?
    A: They are brokers now that use Post It’s and old fashioned Rolodexes.


    How do they describe their needs/frustrations with the current solutions?
    A: Disorganization, inability to follow up because they do not have the technology in place to do so.

    Where is this on their priority lists?
    A: Pretty high. If they don’t have credibility, then no bridge funding institution (sterile institutions) is going to take them seriously.

    Does each person buy what he/she needs, or is there a company "purchasing agent" who handles it for many people? Who actually sells the product?
    A: We actually sell the product.


    It sounds like you identified the need before you developed the solution. How did you do that? Did you conduct market research?
    A: We have a lower tiered credibility program called the Private Banker (www.dandrewmedia.com/specialoffer) that has close to 500 subscribers at 39.97 a month.

    Finally, is the target market already buying products or services from your company?
    A: Yes they are. We want to expand this to more professional institutional users rather than individual users in the future.

    Will the company name appear on the new product?
    A: Yes, Dandrew Media
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