Tracking your marketing campaigns is essential in real estate investing, as it allows you to see how well your efforts are paying off. But with so many different marketing channels available, it can be tough keeping track of them all.
One of the most popular methods to track your campaigns is through phone numbers. By using a different phone number for each campaign, you can easily see which marketing efforts are generating the most leads and conversions.
However, this can become cumbersome and confusing over time, especially if you’re targeting multiple lists.
So, how can you accurately track the response rate of your marketing campaigns without using different phone numbers for each one? Unfortunately, it’s almost impossible to do so.
While you can track the number of leads, appointments, and deals generated from each campaign, it’s difficult to determine which specific mailer or touchpoint led to each one.
That being said, the most important metric to track is your return on investment (ROI). This tells you how much money you’re making for every dollar you’re spending on your marketing campaigns. If your ROI is above 4-5x, then you’re likely generating a profitable return on your investment.
Additionally, tracking the number of touches, it takes to close a deal can be helpful in determining the effectiveness of your marketing efforts. For example, if it typically takes five touches to generate a deal from a particular list, then you can adjust your marketing strategy accordingly.
Ultimately, the most essential thing is to focus on the numbers that matter most to your business. While tracking every little detail can be helpful, it can also be time-consuming and overwhelming.
By focusing on your ROI and the number of touches it takes to close a deal, your marketing campaigns can be evaluated without getting bogged down in the details.
In conclusion, while it may be difficult to track the response rate of your marketing campaigns without using different phone numbers for each one, focusing on your ROI and the number of touches it takes to close a deal can still provide valuable insights into the effectiveness of your efforts.
By regularly tracking these metrics and adjusting your strategy accordingly, you can maximize your returns and grow your real estate investing business.
