I am going to ask you to be honest with yourself! When was the last time you took a couple of hours and really evaluated the different marketing campaigns you run?
Do you know, without even thinking about it, which is your most successful campaign for finding re-sale clients? Do you know which ad brings in the highest number of buyers? Do you know which headline works better when you’re selling a high-end home??? When you’re marketing to distressed homesellers?
If you plan on being successful you MUST know exactly what’s working, how well… and even why!
Please don’t be alarmed! I’m not suggesting you reinvent the wheel, but ads do need to be changed up every now and again. Just look at how Craig works his process. To most his success in real estate would be much more than satisfactory. But, when we rest on our laurels we’re wearing them in the wrong place. And Craig does not rest. He keeps tweaking his existing marketing campaigns; trying out new ideas based on the same marketing principles that he knows already work. And then, through experimentation, he keeps finding new and better ways of prospecting and increasing lead generation, client conversion and retention.
But before you start tweaking there is one crucial platform that must be in place.
You need to be able to truly evaluate how each and every change you make affects the response you get!
Let’s use Craig for an example again. When he ran his successful real estate business, he didn’t just change his Free Reports, or simply place a new ad in a different publication. He changed variables of already successful advertising and then he tested to see what the affects of those changes are. He continues to do this through his coaches. The best way to demonstrate this is to provide you with an example.
Say you’ve found your “Gold-mine ad”, the one that brings you the highest response of really qualified prospects. And because it works so well you probably run this ad regularly, every week or even twice weekly. Life’s good. But, you want to try something a little different, to see if you can get a higher response from the “trade-up” market. Now you decide to try a brand new ad, in a new publication on a different day than you run most of your ads.
In a perfect world you get a huge response, one even better than your “Gold mine ad”. But what you must take away is more than dollars. It must include information. And to do that you have to be able to answer the following:
- Is it the different publication that elicited a better response?
- Is it the day or the week you advertised?
- Is it the new ad?
And here’s the trick. The only way to know these answers is to change single variables and test them. First, try running your current “Gold-mine ad” in the new publication and see what happens! If it changes your response positively, then you know the publication reaches a more viable market. Now try using the new ad in the existing paper. Does it pull better that the “Gold mine ad”, worse or the same?
Here’s the point. You need to be able to identify what changes you make and the affects they have if you want to improve ALL your marketing. This is how you will constantly improve your marketing and increase your business.
Now, let’s take it One Step Further. Let’s say you have a great marketing program. But once again, just like the “Gold mine ad”, do you know what part of it makes it great?
If you’re not tracking every single penny you spend on marketing, then you’re throwing away all of them!
So now you know how to make the tweaks and improve at the advertising level. That’s great. But you need to have that same level of understanding across all of your marketing. And once again, tracking is the key. The same response numbers you measure through the technology you get with your ads and their associated Hotline Numbers is available across your entire Marketing Technology platform when you use AMS. It’s called detailed tracking – it’s just the nature of the beast. All AMS Solutions provide detailed reports that can be used to track the effectiveness of every marketing campaign. For instance, if you change a headline on your favorite ad, give it a new ID number on your Hotline and you’ll be able to see exactly how many calls that ad brought in.
If you’re concerned about a script – look at the length of every call and find out if there is one particular place in the script where you are losing the prospect. Sending out a Voice Broadcast? Send them to a Hotline and you’ll be able to use reports to find out your delivery rate, the response rate, and then you can personally track the conversion rate.
With this information you’ll be able to calculate the exact cost per lead and per client. Compare that cost to the cost of other marketing pieces and soon you’ll be able to streamline your marketing into the most effective and productive marketing machine ever. So, when you start looking at your ads, don’t just stop there. Make sure you understand everything you do. All the tools are there and available to you right now.
Surely you can see how important this kind of constant tracking and evaluation is to your running a successful marketing program. With the detailed reports you have access to, it’s not difficult or time consuming to get exactly what you need to constantly test and improve your marketing.
BUT, if you are not quite sure how you can use the caller activity reports you receive with your hotlines and broadcasting services, give AMS a call today at 1-800-858-8889. You can speak with one of our Account Representatives or they can direct you to our On-line Training Library where you are free to roam and learn when it’s convenient for you. AND, it’s a great way to train up new office staff.