Industry NewsTechnology

Monitor your marketing dollars

Texting, e-mail, IVR can be money-makers

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Would you go on a trip without a map or a GPS? If you're not monitoring where your marketing dollars are going, it's the equivalent of knowing where you want to go but not having a map of how to get there. Every year Realtors spend millions of dollars on Web sites, search-engine optimization, print advertising, billboards and a host of other marketing services. When the industry had to rely almost exclusively on traditional advertising strategies, it was difficult to measure a specific ad's effectiveness. This issue was especially challenging for agents. The ad for your listing might run in the Sunday paper, but how could you tell how many people called on the property? In most offices, the "floor duty" agent took the incoming ad calls. Anyone who has experienced this system knows how frustrating it is to hear a call come in on one of your listings and then hear the floor-duty agent fail to get the caller's phone number. Even today, thousands of agents are still ...