Simple Methods for New Real Estate Agents to Track Marketing ROI
As a new small business owner navigating the marketing of your business can consume a lot of your time.
Sure, determining a budget should come first, followed by how you’ll allot that money.
Over time, however, it’s also important to track how well those dollars are working for you and which marketing methods give you the biggest bang for your buck.
Fortunately, there are several easy and practical methods you can employ to track the ROI of your marketing dollars without breaking the bank or requiring advanced analytics expertise.
Before you do anything else
Before diving into any marketing campaign, it’s essential to establish clear and measurable objectives. When it comes to marketing, whether it’s marketing to increase eyes on your website or making the phone ring, the end goal is to generate leads.
Define your goal with each marketing vehicle you plan on using. Whether it’s increasing website traffic, generating leads, or boosting sales, defining specific goals will provide you with a benchmark against which you can measure your ROI.
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Use Google Analytics to track your marketing performance
For instance, if you are considering social media marketing, you might want to use Google Analytics.
The service, “… under search traffic, will tell you where your visits are coming from. You will be able to see returning visitors through that tab, which will allow you to then calculate your related ROI,” according to a Quora.com user and social media agency owner.
Other metrics to track, such as website traffic, bounce rate, and conversion rates, will help you assess the impact of your marketing efforts on your online presence.
Put your email marketing platform to work
Plan on marketing via email? Platforms such as Constant Contact and Mailchimp make it easy to track the performance of your email campaigns and identify areas for improvement.
Take the time now, before you become the busy agent we know you’ll be, to get to know your platform, inside and out.
Regularly Review and Adjust
Tracking ROI is an ongoing process that requires continuous monitoring and tweaking. Regularly review what you’re doing to identify what’s working well and what areas need improvement.
When you find a marketing method (or several) that works, pour more money behind it and dump the stuff that isn’t working. You can always revisit them in the future. Right now, though, as a new agent, every penny should count.
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