Most real estate investors just send out marketing and close deals. They never really have a look at how well their business or their real estate marketing campaigns are performing.
This can be problematic if you plan to scale your business, and increase the deal flow in the future. Marketing metrics is critical information that you need to know if you want to take your marketing campaigns and the success of your business seriously.
Over several years os testing different ways to teat, track and measure marketing metrics, I’ve determined that using a CRM is definitely the best option when it comes to getting fast and accurate data.
I’ll share with you how Godfather CRM uses the actual data that you enter into the system to bring you robust reporting that will help you make informed decisions about your business.
Once you have a campaign setup in your Godfather CRM, the “Payment” feature allows you to add real estate marketing expenses to a specific campaign. This dynamic feature will allow for several different reporting metrics, all of which are vital to your success as a real estate investor.
You can then enter the details of what type of marketing was sent out, the cost per piece, the total number of pieces, and any additional notes about this piece. (i.e. whether it was the first, second, or third mailing, etc).
Once this information is saved, the performance metrics of Godfather CRM start to unfold.
At a glance, you’ll instantly be able to tell how your campaign is performing, and this data will be updated automatically as new seller leads are added, and transactions are closed.
No more wondering if you should continue with a particular marketing campaign or not! The answers are clear!
Why Are These Metrics Important?
Any expense that is incurred in your business should be considered an investment. Any time you make an investment, you should have one goal in mind…to NOT LOSE MONEY.
How do you determine if your dollars are working for you if you can’t quickly analyze your data and make a determination?
Let’s break these metrics down individually and explain what they are and why they’re important:
Every dollar that flies out of your pocket should come back with some interesting facts about everything attached to it.
For instance, were you aware that every single person that dials your phone number has a value attached? That’s right! You may think that unmotivated sellers and even people that hang up are worthless. NOT TRUE !
If the call was generated by your marketing efforts, then that person has value! Once a campaign starts to develop, you’ll be able to see how much every single person that dials your number is worth. Even if they hang up!
Godfather CRM has a superb performance tracking system for your real estat marketing campaigns. Nothing is overlooked when is comes to analyzing your efforts.