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.
The Empty Nest Series is shown above. To learn more, Click Here.
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.
When you have time…below are some marketing tools to help support your success.
1. Put Your Real Estate Business a Step Above with Your Own Branded Magazin
Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct, response-driven articles written by real estate industry experts and engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you. Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here
The Real Estate Marketing Planner is a powerful 6-Month Guide that strategically defines what marketing to do and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here
3. The Free Online Real Estate Business Plan
The Real Estate Business Plan allows you to enter your business goals for the year and get a breakdown of how many prospects, listings, closings, and so on are needed to reach your financial goals. – Click Here
4. The Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
Before you launch your next direct mail marketing campaign, make sure to add these rules to your list of must-do’s.
Rule #1 Provide a Compelling Call-to-Action
Retailers have an easy time with calls-to-action. Offering a percentage off, free shipping, or buy-one, get-one-free are all popular examples.
What about real estate agents though? What kind of call-to-action can you provide that might compel a recipient of your postcard to contact you for more information?
The following are a few examples that are attention-getting and have the potential to engage homeowners and get them requesting more information.
• Free Downsizing Review and Strategy • Free Home Equity Analysis • Free Vacant Home Sales Strategy • Free Home Price Analysis
The Call to Action Series of postcards is shown above. To learn more about sending a one-time mailing, Click Here. To learn more about sending a recurring campaign, Click Here.
Keep in mind, however; the number of hoops you force your prospects to jump through to take advantage of these offers does impact the response rate, according to Bob McCarthy at DMNews.com. The more they have to do to receive that offer, the lower the response rate.
Rule #2 Utilize Standout Designs
“One strategy we use to get our highest response rates is to make the call-to-action the centerpiece of the direct mail piece,” McCarthy claims.
Whether you choose to include an image representing the free offer or use text to describe it, mention it boldly and repeatedly. Your message (its length and graphic requirements) determines the size and style of the medium.
Plan on keeping it plain and simple? A standard-sized postcard may do the trick, although jumbo, panoramic, and mega-sized postcards stand out in mailboxes, which makes for a genuinely lasting impression.
If it is graphics-heavy and you include substantial copy, using one of the larger postcard sizes (jumbo or panoramic) becomes even more important.
Choose a font that is easy to scan as people sift through their mail. As direct mail experts, we recommend using a sans serif font, such as Arial, rather than Times New Roman or another serif font.
Consider varying the font size throughout the text. For example, you can highlight important items with a larger version of the font you choose.
Additional design tips to keep in mind include ensuring your headline is bold and compelling, yet short and specific. Use lots of white space to make the piece appear to be easily digestible.
Subheadings are important, as they help guide the reader through the text.
Don’t forget to use high-resolution photographs, and avoid placing text over photos. Last note, ensure that your call-to-action stands out and that your contact information is easy to find.
Rule #3 Track Your Results
Tracking your results is vital to long-term marketing success.
In fact, the only way to continue to improve your marketing results, and achieve a higher ROI, is to understand what has worked and hasn’t worked in the past.
Of course, the easiest way to track your marketing is to make it a habit of asking each person who calls how they heard about you.
Another way is to make your free offer unique for easy tracking. When you receive incoming calls you will know immediately what marketing piece inspired their call based on the offer they inquire about.
One more popular method used by agents is to create a dedicated landing page on your website. The URL should be unique to the campaign, so you are able to learn your exact response rate (number of responses divided by the total number of pieces sent).
Marketing experts vary when quoting an “average response rate” for direct mail.
The most recent figure puts it at 9%. How close or far you are from that figure depends on how closely you follow the guidelines outlined above.
PLUS: When you have time…below are some marketing tools to help support your success.
1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine
Homes & Life Magazine is a customizable magazine, with rich, full-color content, and a sharp, professional esthetic. It includes compelling, direct response-driven articles written by real estate industry experts, combined with engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you.
Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and, it costs less than sending a greeting card! – Click Here
2.The Free 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, niche Markets, geographic farming, sphere of influence, and past clients. – Click Here
3. The BusinessBase, SOI building system
The most effective thing you can do to build a real estate business is to become more visible, more likable, and remembered more often. The BusinessBASE™ not only checks all of these boxes, but it is a business building machine. In two easy steps, you can begin to build a robust sphere of influence that will provide you a lifetime of repeat business and referrals. –Click Here
4. The Free Interactive Real Estate Business Plan
The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals. – Click Here
5. The Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
6. The Take a Listing Today Podcast
Watch the ProspectsPLUS!, Take a Listing Today Podcast for actionable content to help you get more listings. – Click Here
Every year, the NAR publishes a survey. And, every year we learn that consumers, despite saying they’d use their previous agent, go with the first agent they meet.
On the face of it, that seems like a pretty sad state of affairs—unless you can use that behavior to your advantage.
The need for speed
An older study of call response times to leads shows that from 35% to 50% of sales go to whoever reaches the prospect first.
This same study revealed that the chances you’ll actually make contact with a lead diminish the longer you wait to call. In fact, it decreases by more than 10 times in the first hour.
Unless you’re a one-woman or man show, wearing all the hats in your real estate business, it’s crazy not to do this ONE THING every time – call leads back a.s.a.p.
Within 5 minutes is optimal
Consider this: A red-hot lead is an online visitor who takes the time to enter her real name and real contact information.
Red-hot leads require your immediate attention. After all, they don’t typically come along every day. These people expect to hear from you and the other five agents they reached out to.
Be the first agent they talk to.
Do the call-back within 5 minutes and you’ll not only have the best chance of reaching the party, but call-backs within those 5 minutes convert better than call-backs made later. If you wait for a half-hour, your chances with the lead plummet 21%.
Mortgage Options, Direct Response Free Report, see HERE
What not to say
First, be prepared for the call-back. If the lead expressed interest in a particular property, print out the listing and familiarize yourself with it fully.
Then, don’t be overly salesy. Or talkative. Let the lead take the lead and be prepared to answer all questions.
Many sales coaches say that the first follow-up call should be informative, friendly, and very brief. Again, follow the lead. If he or she is chatty and doesn’t seem in a rush to get off the phone, keep chatting.
If, on the other hand, the lead is all business and seems rushed, take that as a clue to keep it brief.
What to Say
“Hi John, this is Anita Deal with World’s Best Real Estate Brokerage. I’m following up on your request for information on the home for sale at 123 Main Street. How can I help?”
Now, zip it and listen. Answer the lead’s questions and gauge whether he’s got time to talk or needs to be let go.
If it’s the former, ask non-threatening qualifying questions. These include:
Are you working with a real estate agent?
When do you plan on moving?
Have you seen a lender?
Do you have a home to sell before buying?
Don’t let the lead hang up without getting permission to follow up by phone, text or email.
If you offer a lead magnet, such as a free special report, offer to send it.
“May I email you my free report, “4 Mortgage Options With Low Down Payments”. Online leads are among the best you’ll get in real estate. Be brief, don’t be salesy, and get permission to follow up.
Keep it simple and human
Your UVP needs to be simple, both in length and in word choice. Here’s an example of what not to do:
We are “… a dominant online presence with a combination of innovative marketing and strategic outreach. Cutting-edge lead capture and unique tracking URL’s ensure exposure and buyer retention.”
Put yourself in the shoes of a consumer reading this UVP on the group’s website.
What is “lead capture?” And “cutting edge” these terms have become absolute turn-offs. Tracking URL’s? Buyer retention? Where is the part of the UVP that allows the reader to clearly understand the value this team offers?
Then, ironically, this same UVP shows up on seven other real estate websites. Seven agents trying to prove what makes them different share a UVP with seven other brokerages.
Here’s another that we found. “Our astute team creates a plethora of assets unique to your home.”
Aside from dumping the words “astute” and “plethora,” this real estate team needs to describe exactly what “assets” they will “create.”
If you can save consumers money on their real estate deal, make the process easier, or make it quicker, you’ve got yourself the makings of a UVP that will attract real estate clients.
Thinking of going after the Empty Nest niche market for more leads? Right now, get the first 100 prospects on an Empty Nest list for FREE!
Discover Empty Nesters in Your Area and Get the First 100 for FREE with the Demographic Search Tool.
HOW TO DISCOVER EMPTY NESTERS IN YOUR AREA.
Hit “CLICK HERE”, below (from a desktop or laptop computer) and choose the Demographic Search Tool.
USE PROMO CODE: EMPTY100 to get the first 100 prospects free.
This sale expires on 10/16/21. Please reach out to our support team at 866.405.3638 with questions or if there is anything we can do to help you with your success.
PLUS: When you have time…below are some helpful tools to support your success.
1. The Free 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
2. The Free Interactive Real Estate Business Plan
The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals. – Click Here
3. The Automated Way to Become a Neighborhood Brand
Become branded in a specific neighborhood with a 12X15 marketing piece sent automatically each month to an exclusive carrier route. Watch this video to learn more or Click Here.
4. The Free Real Estate Mailing List Guide
The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here
5. The Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
6. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
7. The Free Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
