Tracking Your Marketing Campaigns For Success

Planning and investing in a good marketing campaign is essential if you want to grow your REI business to new levels. However, you can have the best marketing plan, but if you don’t have a way to track your efforts and measure results, your marketing strategies can be in vain.

Not all of your efforts will produce the same results. Some will be effective, some not so great. It is okay—not all of your marketing will be perfect. But by tracking, you can quickly identify what works and what doesn’t and adjust your plan so you are best utilizing your marketing budget and not wasting time and money on marketing activities that aren’t producing results.

Some important measurements:

Cost Per Lead

This is the cost of every call that you get from a campaign. To calculate, you divide the total amount spent on a campaign by the number of calls resulting from the campaign.

Cost Per Purchase  

Divide the total cost of the campaign by the number of houses you buy resulting from calls you received from that specific campaign. This is a more important measurement than the cost per lead because it considers only leads that have produced income for you.

Profit Per Marketing Dollar Invested

You will want to track this for each campaign you run. To calculate, divide the profits from investments that came directly from calls you received from a campaign by the total cost of the campaign.

Using the three statistics above, you will be able to find the sweet spot—how you can make the largest profit per dollar invested in marketing with the lowest possible cost per leads.

For example, in my own tracking I have found that while internet leads tend to cost less per lead, direct mail has more of an impact. Motivated sellers can sometimes be in denial about facing foreclosure or having a financial hardship, and seeing the mail come in can plant seeds that when they are ready, they will call you. That is why tracking is important. Different methods may be more effective for different targeted markets, and this can vary depending on your location, etc.

If your phone is ringing off the hook, you may assume your marketing campaign is effective. However, by looking at the above statistics, you may find that the quality of the leads you are getting doesn’t align with your goals. In that case, you need to adjust the type of seller you are marketing to.

How will you know where your leads are coming from? Ask. Yes, it’s that simple. I make it a point to ask every person that contacts me how they found me. Make sure you are keeping track of what calls are originating from what campaign.

If managing this seems overwhelming, there are systems to automate and track your marketing efforts, like ProfitGrabber. Automating your marketing campaigns and tracking allows you to spend your time on other income-producing activities. It also allows you to easily track effectiveness and adjust your lists and budget allocation.