How It All Went Down in 2017
This is my 4th Annual Lead Generation Statistic Post on the Property M.O.B. blog. It’s one of my favorite posts to write, as it signifies 2 things.
- The previous year is over and in the books.
- The new year is upon us.
By the time I write this post, I’ve analyzed the SHIT out of my previous year, ripped it apart, and discovered areas that need improvement. After I analyze my data, I have a meeting with my team, and we decide on our goals for the upcoming year, and look for new ways to improve the business.
This year, one of my good friends, who also happens to be a member of the M.O.B., took my analytics spreadsheet and jacked it up even more! He added alot of new statistical data and running weekly averages so that we can keep an even closer eye on the business throughout the year. He also added an entirely new tracking sheet for individual campaigns. Now, we can keep track of each campaign and make informed decisions on which marketing campaigns are actually working, and which ones need to get the whack.
I had Ezra enter all of the data from 2017 into the new spreadsheet, so that we could check things out in the new spreadsheet, which I call the “DANKEST ANALYTICS SPREADSHEET FOR 2018).
Now, I present to you, the led generation statistics from 2017 from our real estate wholesaling business.
Cost Per Lead
Value Per Lead
Cost Per Closed Deal
Total Mail Pieces
Average Reponse Rate
Leads to Contract
Average Profit Per Deal
Postcards to Closing Ratio
Offers to Contract Ratio
Cost Per Lead : $64.51
Value Per Lead : $249.08
Cost Per Closed Deal : $3,125
Total Mail Pieces : 169,297
Average Reponse Rate : .72%
Leads to Contract : 28
Average Profit Per Deal : $12,066
Conversion Time : 68 Days
Closing Ratio : 58%
Postcards to Closing Ratio : 6,772:1
Offers to Contract Ratio: 10:1
Cost Per Lead : $52.33
Value Per Lead : $137.27
Cost Per Closed Deal : $5,560
Total Mail Pieces : 47,369
Average Reponse Rate : .90%
Leads to Contract : 47
Average Profit Per Deal : $14,585
Conversion Time : 45 Days
Closing Ratio : 44%
Postcards to Closing Ratio : 11,842:1
Offers to Contract Ratio: 14:1
These numbers may not mean anything to you. But, I’ve been keeping a firm grip on data since 2014, so these numbers reveal many things. First of all, it’s getting more competitive in my market. I can tell that by the number of postcards required to get a contract.
I can also tell that we’re getting better at negotiating, as a team. I can tell this by the average profit per deal.
Without knowing the facts and the data about your business, there’s no way to tell which direction you need to travel to get to the next destination.We wall want to improve our business, and be more efficient. To do that, you MUST KNOW YOUR NUMBERS.
For 2018, we’ve decided that we’re going to focus on making more money per deal instead of trying to do more deals/spending more money on marketing. We’ll keep our marketing budget of $6,000- $8,000 per month. This will play well in line with our motto that we can “Accomplish More By Doing Less”. The one thing that we’re changing in 2018 is to increase our profit per deal to $16,666.00.
Now, if you really want to see something spectacular, click on the button below to view the FULL SPREAD of stats in Jacksonville Florida and Nashville TN from 2014 – 2017. The results are a bit shocking to me, because the numbers doesn’t lie. Just like when you eat too much cake and the results show up on the scale. SAME HERE.
Alof of truth can be told when you look at the statistical data from the last 4 years! All I can tell you is to KNOW YOUR NUMBERS and you’ll know your business like a real business owner should.
Never step into the new year unknowingly.