Monday, September 18, 2006

It's still a numbers game

In baseball, a good lifetime batter FAILS 70% of the time.

In marketing, a GREAT response rate to a mailer is 3%. That means 97% of the mailings FAIL.

When you're evaluating new sales & marketing strategies to grow your real estate business, keep in mind what a good success rate might look like.

This is particularly important when looking at a good prospect database. If you're lucky, you're building a pipeline of several hundred prospective buyers & sellers in your database. And you know that the vast majority of those aren't going to buy or sell anytime soon.

But you also know that a very small percentage of those leads need to "pop" in order to make you some serious money.

Kendra Shearer did a good job writing on this subject recently on the RealBlogging site. Give her post a read, and think about how this would apply to your business.