The final step in your real estate marketing plan is to measure how your campaigns and strategies performed. While there is no one exact way to measure the success of real estate marketing strategies, several methods can indicate whether the campaign was a success.
Review Original Goals
Remember, the first step in evaluating the effectiveness of any real estate marketing plan is to review the original goals. If the goal was to increase lead-to-client ratio, check to see if the leads generated from advertising were greater than in previous campaigns. If the goal was to increase sales, check sales figures from previous periods against the period of the real estate marketing campaign to see if sales increased.
Compare Before, During and After
Another method for tracking the success of a real estate marketing plan is to compare statistics before, during and after the campaign. If the real estate strategies were successful, statistics should be more favorable during and after the campaign than they were before the campaign launched. If the plan included an incentive, such as a discount coupon, simply counting the number of coupons redeemed can also provide insights as to the success of the campaign.
Adjust and Plan Again
Once you determine how well your real estate marketing plan performed, make any necessary adjustments and begin planning the next campaign. You may find that one marketing channel was more successful than another was, resulting in allocating more of your advertising budget to that channel as opposed to one that was less successful. Feedback from customers is also beneficial to determine real estate marketing ideas that worked and those that didn’t.
The ultimate goal of any real estate marketing plan is to increase revenue, grow your agency and build a larger customer base. View the entire series, Develop a Real Estate Marketing Plan. Visit our website for our direct marketing tools and resources at www.xpressdocs.com.