Don’t Leave Home Without It

Written by on April 12, 2007 in Info, Marketing - 1 Comment

Back when I was running my investment management company, we often met with potential clients who asked us to do a portfolio analysis. More often than not, they were surprised to see their portfolio wasn’t doing as well as they thought. This was mainly due to the fact that they didn’t understand ROI or Return On Investment. Once we calculated every little expense & fee they were paying, the return on their investments was a good deal less that what they thought. They were focused on the stock charts. We were focused on their actual worth. For the same amount of risk, they could have been doing a lot better.

As a broker and business person, ROI is one of your most important metrics – don’t leave home without it.

Measuring ROI allows you to compare apples to apples; to see how different search or newspaper campaigns are performing against each other. It helps you make decisions like where to spend your marketing dollars and where to spend your time. And it’s even effective in evaluating your current split. Most brokers are paying an enormous amount of their income to a managing broker – but what’s the return?
To answer that measure your ROI. To do that just divide your net income (before taxes) by ALL your costs (split, marketing, franchise fees, advertising, tech expenses, etc.). You’ll end up with a percentage. The larger the percentage, the better off you are.

Here’s a spreadsheet to get you started: ROI Calculator.
Next time you’re about to do a direct mailing, get this spreadsheet out and run the numbers. Keep a running history of your various marketing campaigns and in keeping track of ROI, some interesting patterns will emerge.

Put Bread on the Curb

Written by on April 3, 2007 in Create Value, Experience, Marketing - No Comments

Everyone knows the oldest trick in the book to help sell a home is aromatizing – filling a home with the aroma of fresh baked bread for example to help create an inviting atmosphere. It works. My wife & I recently toured some homes and the ones with a great aroma had a greater impact. How about taking this concept (“make the home inviting”) outside to the curb?

$134 billion dollars was spent last year in advertising and marketing. The average number of advertising messages the average person sees in a day is an elusive figure but I’ve seen numbers ranging from 800 to 3000 messages per day! Suffice to say, we are bombarded with messages.

Your roadside “For Sale” sign is no different. It’s one of many and for the most part it’s invisible (and crooked and rusting and hard to read from a distance).

Stand out, provide value and get noticed by taking the “bread” concept to the corner. Get some gorgeous “For Sale” signs made up - something that’s contrasting, very simple & easy to read from a distance. Go see the Carving Cowboy when he comes around and get burnished wooden ones made. Then top it off by putting it in a gorgeous flower barrel and put that on the curb. Your clients will love you because their driveway entrance looks more inviting. The neighbors will love you because you’ve added to the appeal of the neighborhood. Potential buyers will notice it because its different (remember 800 to 3000 messages per day) and experience a more inviting, warm & down-to-earth feel.

This isn’t about you or your company – potential buyers driving by don’t care at this point. This is about providing a unique service to your clients. Yes, this is much harder than planting a metal, self-serving, sign in the front yard. But creating exceptional client experiences is what will grow your business in this ultra-competitive marketplace.

You Can’t be Everywhere at Once… Or Can You?

Written by on April 2, 2007 in Create Value, Marketing, Tech - No Comments

At your next open house, consider using one of these LCD picture frames. It plays video. So shoot a video of yourself talking about some great features that someone touring the house might miss (“Be sure to look in the closet on the left. There you’ll find a secret compartment…”). Then put it upstairs or some strategic place where your guests are likely to be alone. It’s an intriguing approach and they’ll appreciate the added info and your client will appreciate your added value.

You can get one here:
Thinkgeek.com

And if you can’t shoot the video, give us a buzz, we can shoot it for you.

Why do I Have 2 Keys?

Written by on March 31, 2007 in Experience, Marketing - No Comments

I have a 1989 Grand Wagoneer. Great car, built like a tank back in the days when plastic was steel. But it has 2 keys, one round & one square. I have to keep both on my keychain and I have to remember which goes where. Sometime after 1989, American car makers went with a one key system. Much simpler and easier to use.

I often see real estate professionals marketing themselves with 2 keys. They have one email address and a completely different web address. For example,

Email: johnC@springsips.com

Website: www.skitownhomes.com

Your prospects and clients have to remember your 2 keys. Why? Make it easy for people to remember how to find you. Market yourself with one key – johnC@skitownhomes.com – your email AND website all wrapped up in one key. It’s the little things like this that add up over time to produce a terrific client experience.

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