Sales Tracking for Maximum Efficiency
I want you to go back in your early school days for a minute. Think back to one of the great fairy tales, the one about Hansel and Gretel. Remember that one. The brother and sister who lay down bread crumbs on a path in the woods so they could find their way back home.
I know, you’re saying, ‘Bob, you’ve finally lost it for good, you’ve lost your bread crumbs (your marbles!), talking to us about fairy tales.’ Just give me a second here. The story has a profound lesson for real estate agents today.
Now think about your own bread crumb trail of sales. More specifically, think about how that very last crumb (sale) came to be. Did it come from an ad in the newspaper? Your website? A yard sign? If you’re fumbling for an answer, keep reading. This is one lesson that you’ll be glad you remembered.
The real beauty of exploring that question and eventually knowing how to answer it with certainty is that seeing that trail of crumbs (sales) can and will lead you home to an amazing amount of efficiency and much less wasted money.
Let’s face it, it’s never smart to waste money, but you don’t need me to tell you that fact is especially true in this economy.
One of my clients, Lisa Burridge in Casper, Wyo., has become a huge proponent of tracking her sales. Why? Because doing so has allowed her to completely remove all (and I mean all) the guesswork out of where to put her advertising dollars.
We’ve put together a media source summary, a chart that tells her precisely where her sales have come from. She can look back down her own path in her “neck of the woods” to see exactly where her sales originated.
We know from her summary so far for 2010 that she’ll want to continue putting money in her outside brochure fronts, her website and her local newspaper -- the top three sales generators for her in her market.
Something is working. Each month she gets between 400 and 900 calls from leads. And Lisa now owns approximately 35 percent market share in Casper. What’s more, that number is likely to increase because now she’s operating her business even more efficiently.
I’m happy to share this chart with you free of charge. Just e-mail me at Bob@CorcoranCoaching.com and I’ll send it along to you so you can get a good start learning where you sales are coming from. Also, one company I’ve run across that I think offers a superior product in sales tracking is ProQuest Technologies. I know many agents who’ve found success with them.
I want you to remember that when it comes to tracking your sales, you can’t study your numbers too much, especially when it comes to what you’re paying for each media. Take time to compare costs and calculate cost per call compared to your other advertising tools every month and then budget accordingly. This isn’t just about lead generation, but about controlling advertising dollars.
I know that when you implement a sales tracking program properly you can track your sales just like bread crumbs toward the path home -- a home full of profits and an exciting future.
Let me hear from you. How is your sales tracking going for you? Have you found any good software to help? What do you find most helpful about tracking? Do you have any examples of how tracking is helping you be more efficient and successful? Please share any comments or questions you have about this article. Send me an e-mail at Bob@CorcoranCoaching.com.
Bob Corcoran is a nationally recognized speaker and author who is founder and president of Corcoran Consulting Inc. (CorcoranCoaching.com, 800-957-8353), an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into the residential or commercial broker or agent’s existing practice.
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