We all know that lead generation is the name of the game when the game is treasuring and nurturing existing clients AND fostering new leads to spark new business.
Here are some additional metrics to add to your real estate success playbook, offered by Dawn and Frank Brodenchak who are agents in Bridgeport NY with Sotheby’s International Realty.
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- Key Performance Indicators to Monitor/Track Your Efforts
- Number of phone calls/email inquiries/listing
- Number of showing requests/listing/week
- Number of showings/week
- Percentage of showing conversions into true prospects
- Days of the market/listing
- According to Dawn, “If you aren’t getting enough showings, or if your showings aren’t generating offers, consider modifying your marketing, your product offering and/or your price in order to improve these metrics.”
- Track Your Response Time – how much time has elapsed since you received an initial inquiry about a listing
- According to Inside Real Estate, the average response time is 15 hours and 30 minutes.
- Also according to Inside Real Estate, a whopping 48% of initial inquires are NOT responded to!
- Track your time between follow-up efforts. (This is too often an overlooked aspect of real estate and marketing lead generation.)
- Maximize Your Online Efforts
- Frank relies on email blasts, real estate search engines and social media to augment his “traditional” marketing efforts.
- Google Analytics is considered to be a fundamental way to monitor your web traffic and has these capacities…
- Track the number of people visiting your site.
- Track their browsing behavior.
- Track their “bounce” rate or how quickly your visitors leave your site.
- Consider the Benefits of Social Media
- Facebook and Instagram provide feedback to help you monitor your social median channels, stay centered on engagement and responses and maintain real-time marketing awareness.
- According to Frank, “By switching to a business account on Instagram, we are now receiving all kinds of key insights from our posts.”
- Instagram goes beyond likes to gender, age and location of your visitors.
- Remember the Basics
- According to Dawn, the “basics” (market landscape, pricing, product) include “how the product (the specific house) can be adapted to work for a buyer.”
Thanks to Dawn and Franck Brodenchak of Sotheby’s International Realty and InmanNews for source material.