Posts Tagged ‘ lead source ’

Lead Tracking 101: Return on Investment

It goes without saying that anyone in sales should track their leads: Where they’re coming from, how much they cost, and how many close.

Why is this so important?

If you’re spending $500/month on a lead source, and you only close one deal per year from that source, then you paid $6,000 to close one deal. If the lead source provided you a $1MM closing, then it was definitely worth it. If, however, the closing was a $250k home, then your money is probably better spent elsewhere.

While detailed lead tracking is always a great idea, it can become a bit complicated, unless you have sophisticated software to help you with the process. However, tracking return on investment is relatively easy, and is a great place to start tracking leads, if you haven’t already.

If you’re a real estate broker, manage a team of agents or a solo agent, the first step is to itemize your lead sources.

Common sources include referrals, sign calls, ad calls, purchased leads, and web leads. It’s a very good idea to be as detailed as possible when categorizing lead sources. If you purchase leads from multiple sources, you obviously want to know how much each source produces.

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Posted by: Eric Bramlett on September 26th, 2008 under Leads

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