A good KPI should act as a compass; a measurement of where your business is, relative to where it has come from and where it is going. KPIs translate your business strategy into manageable, operational actions, based on the data you collect and monitor. They are an important component of the information needed to understand a company’s progress. However, many businesses aren’t leveraging the power that comes from understanding their data. Failing to invest in compiling accurate business data, beyond the usual financial statements and reports, means business owners will continue to rely on ‘gut feelings’ and assumptions when it comes to making decisions. But there is no substitute for concrete numbers when it comes to measuring the health and understanding the direction of your business.
The old saying, “What gets measured, gets done” rings true
- Set a target for cold calls
Cold calling has a very specific purpose, and often, its purpose is forgotten. It’s not forgotten because it’s unimportant – it’s forgotten because most sales people don’t like doing it. As a matter of fact, telemarketing and cold calling remains an important discipline to apply to any sales role. In many business-to-business sales organizations, old school “door knocking” might be unproductive, especially with large territory assignments. However, prospecting via phone calls remains a great compliment to your overall appointment setting and lead generation activities. A good start would be 200 cold calls per week.
- Updating listings and postings is a must
The point of marketing is to reach the broadest audience your budget allows increasing customer retention both new and loyal, thus increasing your R.O.I (return on investment). I guess if you live in an extremely small town with population 1000 you’re good in that respect, but to assume everyone in the town knows who you are and where you’re located is simply arrogance. People grow up and move on with their lives, some move to other cities, towns, states and even countries. Some people even die, yea its true! Generations fade out and things change, out with the old in with the new. Businesses change information and locations often, from a simple phone number to a whole new location. Maybe you have more than one location as well, maybe you plan to re brand your business in the future or intend on introducing a new product or service. Point is, you must be visible on the internet and easily accessible to customers or you will lose so much business and brand awareness you can’t even begin to imagine the repercussions. Updating your listings and increasing your online presence is key to improve. WE recommend that you put a fixed figure to this KPI. IE: Posting 20 new listings every week and updating old one’s every week as well.
- Drive around your area to do market survey
In order to dominate your local market one must be familiar with the surrounding, landmarks and basically everything good and bad about the township. As your start your journey in real estate, it is always advisable to cover every inch of road in your township. This will enable you to collect hard data on what is available on the market. Besides that, driving around also gives you the advantage of having a good feel of what it is like living in any particular area and also what amenities they have (i.e: local shops, petrol station and schools).
We advise: Spend 5 hours per week to discover minimally 2 areas in your township.
- Attending networking events
Networking events are a great place to meet a lot of like-minded people at one time, so take advantage of that. If you’re new to the networking game, these events are a great place to hone in on your company’s mission statement and really help you definitively determine what you stand for.On average, you have about 30 seconds to convey who you are, what you do, and what sets you apart. Start with one person at a time, and by the end of the event, you’ll find your message polished and ready for any listening ear.The connections you make. Even if you don’t get a call or email right away, the amount of first-hand connections you make at networking events is incredibly valuable. You should have a stack of business cards by the end of each event. When you reach out to each new contact, they’ll be able to put your face to your name, and you’re much more likely to get a response. In fact, 85% of professionals say they develop a more meaning relationship after meeting someone in-person. Remember to act quickly, and send an email or LinkedIn request within the first 24-48 hours while your interaction is fresh in someone’s mind. Brownie points if you think to ask someone interesting to coffee—this deepens the connection, and your network.
OUR ADVISE : 2 Networking events per week Following this simple tips should aid to kick start your real estate journey.
GOOD LUCK FROM US AND WE WISH YOU ALL THE BEST