BrokerageIndustry News

Manhattan brokerage takes guessing game out of marketing

New system tracks online, offline ad spending

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A Manhattan real estate brokerage is taking the guessing game out of marketing with the creation of a system that tracks responses to online and offline ads. The system, launched last year by Coldwell Banker Hunt Kennedy, a brokerage with about 300 agents and $1 billion in annual sales, uses a pool of unique phone numbers to track the telephone responses to a range of advertising sources, and also tracks Internet responses to ads. That information is helping the company and individual agents to identify what works and doesn't work in drumming up business, and it is also useful in describing to clients how the company is marketing their for-sale properties. As the real estate industry shifts more of its marketing dollars toward online advertising and looks for ways to accurately gauge return on investment, the brokerage company is seeking to quantify the successes and failures of various forms of online and offline advertising. The data is helping the company streamline its marketing s...