Are you tracking all your numbers for your investing business?
Well, it’s super important, folks. You need to know what marketing is working and what isn’t.
After all, we are in the marketing business.
So, there are a bunch of numbers you should be tracking:
cost per lead
how much you spend on each marketing campaign and how the returns correlate
how many deals result from the calls
how many offers you’re making
…and some others, too.
So, the 1st number to track is your marketing.
Let me make this tangible…
Let’s say you need 100 leads to do 1 deal. And each lead costs $50. Well, that’s $5,000 bucks for just 1 deal.
Those numbers are NOT going to work.
So you’ve got to find cheaper leads and/or do more deals to make it worth it.
And maybe you don’t have enough of a marketing budget to send out a big campaign. That’s fine…
Break it up: mail 25 yellow letters each week. Or 100 postcards each week. Or hop on the MLS and contact 10–20 of the listings.
There are simple ways to get started on marketing even with little to no budget.
Okay, once you send the marketing, calls are going to come in…
Answer the phone live! (Or have a VA do that.)
You/your VA should be talking to at least 5 sellers a day. (TRACK THAT TOO!)
So, the #2 number to track is how many sellers you’re talking to each day.
And finally, the third biggest thing to track is how many offers you’re making a day.
Know this: Your success is directly proportional to the number of offers you make.
So you’ve got to focus on what matters most—making offers.
Not your CRM… not your website… not another course… not another webinar…
Make an offer to every seller you talk to, even if they’re not super motivated. They may not be now, but they’ll likely be later.
And later… when you follow up with them, the timing might just be right.
I like to say: 5 sellers a day, 5 offers a day will keep the debt collectors away.
So, those are the big, important numbers to track:
How much marketing you’re sending out and how many leads come in from it.
How many sellers you’re talking to.
How many offers you’re making.
No excuses, people. Commit to the time it takes to focus on these numbers.
That’s it. So just do it.