Where Will Your Marketing Dollars Get The Best Return On Investment? By Brett Miller At Isnare.com Ezine Articles

During your training as a new Realtor, you undoubtedly received coaching from managers and brokers on many subjects designed to help you build your business. Despite this, many Realtors don't do all of the exercises that they promised themselves they'd do. As a result, many agents find themselves doing the same marketing plans month after month without analyzing how hard their advertising dollars are working for them.

Ask a Simple Question With Big Results

Nearly everything that a Realtor spends money on is designed to promote him or herself as an agent. Direct mail, ads, websites, promotional items, even your yard signs, are all speaking to clients on your behalf. But not all of these things are equally effective, and it's important to determine which of your marketing materials are working hardest for you.
All it takes is a little research to determine what's working, and what can be cut back or eliminated altogether. Create a spreadsheet on your computer, or even use a notebook divided into columns, and list every form of self-promotion that you use - even those that you don't pay for. Be disciplined and ask each and every potential buyer or seller that you speak to, "How did you hear about me?"

Use Your Money Wisely

Once you've collected data for an entire month, review your results. Let's say that your data breaks down to five leads from referrals, one lead from your weekly newspaper ad, five leads from your website, and four leads from the promotional calendars that you sent out to your farming area. If you’re spending a significant portion of your budget on your newspaper ad, you might want to put that money into other areas of advertising. You’re not getting the return on investment that you should from a newspaper ad.

In addition, a good real estate website should be generating many more leads than just five. Invest in a professional, fully-customized website and you will generate the bulk of your leads online. Once you’ve made the initial investment, your website will work for you 24 hours a day, 365 days a year. A truly professional website requires very little upkeep and maintenance on your part. This is fortunate, since you will be busy with all of the new clients who find you online.

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