Want to grow your real estate investing business?
You need to know which marketing campaigns are working — and which aren’t. Armed with that knowledge, you can scale up the marketing channels that are effective, and stop wasting money on the ineffective ones.
It’s that simple.
That leaves you with one glaring question however: How do you track the return on investment (ROI) for each of your marketing campaigns?
REsimpli can help automate these KPIs for you. Learn how to quickly track these marketing KPIs so you can spend more time closing deals and less time messing around with spreadsheets.
You can link your real estate business bank account to REsimpli’s platform.
Through a Plaid integration, REsimpli imports all of your transactions. The real estate CRM platform imports all past transactions, and will automatically import new ones moving forward.
The platform automatically tags some transactions based on banking data, but you’ll need to review these for accuracy. Tag transactions for specific properties and marketing campaigns to track the performance of each.
As you look through past outgoing expenses, label them.
Tag the $2,500 you spent on direct mail campaigns to pre-foreclosure leads versus the $1,500 spent on probate leads. Radio ads, PPC ads, social media marketing campaigns — if you spent money on a marketing channel, tag the expense.
REsimpli can later compare your spending on each channel. And even more importantly, compare the cost per lead and cost per deal for you.
When you tag inbound revenue transactions, you can select the property lead on your account.
The CRM platform already knows which property leads came through which marketing channels. It matches these based on identifying factors like tracking phone numbers. You can mark the lead as a successfully closed deal.
Without having to lift another finger, you can then compare the costs versus the revenue for each marketing channel.
The system automatically calculates your cost per lead and cost per closed deal for each marketing campaign.
In other words, it calculates the ROI for each marketing channel for you. You know which ones are making you money versus costing you money.
These are the ultimate KPIs in any real estate investing business. These numbers show you which levers to pull back back on, and which to thrust forward full-throttle to scale your business to the moon.
The REsimpli CRM also generates easy-to-read income statements for your bank accounts.
They summarize your spending in each category, such as marketing, legal and professional fees, office expenses, and general expenses. That helps you spot wasteful spending, such as unnecessary overhead and fixed expenses.
Do you really need the physical office footprint, or could your company go virtual? Are you overspending on legal fees? What other costs jump out at you?
You don’t need to do every task in your business yourself. But you do need to know your numbers.
You need your finger on the pulse of not just how much you’re spending versus earning, but which of those expenses are driving the most revenue. And, conversely, which aren’t actually creating much value for your business.
Know your numbers — so you can change your numbers.