The Biggest Real Estate Marketing Mistake An Agent Can Make

The purpose of testing is to get maximum performance from every real estate marketing campaign. You’d be amazed however how few companies ever test any aspect of their marketing and compare it to something else. You may be one of these. This can be very harmful.

First, you can’t determine ahead of time what your market wants or what the best approach will be. You need to track every important marketing question and let your customers tell you if you’re right or not.

How do we do this? Test one aspect of youradvertising against another. One offer against another. One ad against another. One headline against another. One website against another. One follow-up against another.

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Get the idea? The idea is when you test one approach against another, and analyze the results, you will find that one marketing medium almost always substantially greatly outpulls all the others by a large margin. You’ll see how many more leads you get from the same work.

For example. Let’s say you have a really good listing month and list 10 properties and only go on 20 listing appointments. Wouldn’t it be smart to figure out why this happened and continue to do that over and over? Perhaps you had a new guarantee , maybe you ran a certain ad , maybe you sent out a referral letter to past customers. Try to figure out what variable made your numbers so good and document the process so you can continue to use it.

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Test everything. You can achieve an immediate boost in sales and profits. Any positive or negative feedback helps you dramatically improve your marketing efforts.

Make specific offers and analyze the amount of responses, traffic, prospects, and resulting sales for each specific ad . Then compute the cost-per-prospect, cost-per-sale, the average sale-per-prospect, average conversion-per-prospect, and the average profit-per-sale against your control ad or sales pitch. This reveals the obvious winner, the new control that you will continue running or using until a more effective control beats it. Testing applies to every aspect of marketing.

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Once you find the most successful combination , your work has just started. Now you should find out “How high is high!”

Until you establish your control concepts , techniques, and approaches, you can’t possibly maximize your marketing . Once you find control concepts or approaches, keep testing to see if you can improve on their performance , thereby replacing one control with a better one.

Any marketing medium you decide to use costs you the same amount of space, production time, or airtime whether it produces 100 prospects , 1,000 prospects or 10,000 prospects. Therefore, you should test different marketing approaches and find those that out pull all others, then use those approaches to maximize your investment. Track everything starting right now.