Dan Gooder Richard said in his book, Real Estate Rainmaker: Guide to Online Marketing: “That which is tracked gets done.” He was streamlining what management consultant Peter Drucker once said, “If you can’t measure it, you can’t manage it.” In that vein her are some key things that you should be tracking in order to be able to effectively analyze your marketing:
1. Cost per acquisition (CPA) – Acquisition of contact info, lead or prospect, appointment, etc.
2. Cost per sale (CPS) – Divide your marketing expenses by total transaction sides to determine your CPS.
3. Return on Investment (ROI) – Divide gross commission income (return) by marketing cost (investment); percentage is the bottom line on how successful marketing was in terms of sales (returns) states as a percent of money spent (invested).
What data do you make sure you track to analyze later?