Track Results BetterFor Better ResultsWhen you track results of your marketing activities, you can use these results to improve your results.Your past results will also help you determine how grow your business. Specifically, based on these results, you can estimate the number of referrals you can reasonably expect and how many new clients you must generate through prospecting. Know Where You've BeenA time-worn cliché tells us: unless you know where you have been, you won't know where you are going. This sentiment underscores why it's important to track results of your marketing activities. Identifying what to track is straight forward: track results of all marketing activities and the results that these activities produced. Here are some activities of which you can, and should, track results:
How To Learn From Your Past ResultsYour past results will help you determine the amount of time and effort you must devote to generating a single client.As you become more experienced at prospecting, you can expect to generate more clients from the same number of calls. Or if you are satisfied with the number of clients that you currently generate, your prospecting will require fewer calls.  How To Achieve Better Marketing Results ... Sooner is a new e-book that will help you learn...and benefit from your past results. Specifically, Exercise #4 will help you identify your past achievements. Exercise #5 will help you develop goals that are based on these results...and help you achieve the results you desire. Top Keep TrackingAfter the transaction continue to track results of everything from the time between acceptance of offer to to closing to the commission that you received and when you were paid.In the long term,your clients' value is greater than the commission generated by a single transaction. As part of your client pipeline, they can be expected to generate additional new revenue for you. Track the results of your keeping in touch with clients and contacts specifically the repeat business and referrals that they generate. Recording the results of these activities is also fairly straight forward. There are is a wide range of good, user-friendly contact management tools and software that simplifies the recording and reporting process. Top Identify What you Must DoBy tracking results you can identify what you must do in order to achieve the same or better results in the future.Here's how it works in practice. Let's say that in your prospecting, you made 100 calls which ultimately resulted in 2 clients. In turn, these clients' deals generated $10,000 in commission. If you want to earn $150,000 per year, at this commission level, you will need 15 clients. This will require 750 prospecting calls over the year. If you have tracked your time, you will know how much time will be required to complete these calls. If you have tracked referrals, you will know how many referrals you can expect. Typically referrals generate anywhere from 60 to 90% of new business for real estate agents. Obviously the more referrals you receive, the less prospecting you will have to do. Clearly, tracking results generates the information you need to make critical planning decisions. Top Working HardUnfortunately for many agents, tracking results is yet another task that simply falls through the cracks.Perhaps they are working so hard at chasing the next deal that nothing else matters. Maybe they are so focused on future plans that they see little value in past results. Not surprisingly, failing to record results generates its own results. Failing to record results limits your ability to learn from your experience. It also means that you will devote your marketing time and energy to chasing the next deal. Top Run A Successful BusinessIf you are working in real estate to achieve personal goals the best approach is to plan and manage your marketing activities.A sound business plan is the key to running a successful business. It's the key factor in working smart not just hard. When you just work hard, you succeed in keeping busy...when you work smart, you succeed in achieving your goals. Among other things, this plan identifies goals, such as desired income level, that are important to you. It also identifies specific actions that must be taken to achieve these goals. When you track results your planning will improve. And better planning usually leads to better results. If however, you are content with the results that you are currently achieving, ignore your past results. and continue doing what you have always done...work hard at chasing the next deal. Top
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