| Capitalizing on sales opportunities while minimizing | | | | advertising used to generate leads, agents are able to |
| out-of-pocket expenses sings to any entrepreneur's | | | | track results. With call capture comes the opportunity |
| heart, but this credo hits especially close to home for | | | | to evaluate each advertising and promotion venture in |
| the hungry and ambitious real estate agent competing | | | | real-time, providing the busy real estate agent with |
| in a crowded market for a limited number of leads. | | | | hard data on what types of advertising and |
| This is why successfully evaluating the best use of | | | | promotional offers generate leads. |
| advertising dollars can give a savvy agent a leg up on | | | | Call capture works through a toll free number that has |
| the competition. The first step in determining where to | | | | multiple extensions. Some call capture systems offer |
| place limited advertising dollars for maximum impact is | | | | "mirrored" extensions that give agents the ability to |
| to set a budget not per month, not per day even, but | | | | track which piece of advertising and what types of |
| per lead. With this step an agent is challenged to ask | | | | special offers generate leads. Each number in any |
| and answer the question of how much is reasonable - | | | | given call capture extension is assigned to a different |
| and profitable - to spend per potential lead generated, | | | | piece of advertising - a "1" might indicate direct mail, a |
| understanding that not every warm lead will turn into a | | | | "2" a magazine ad, a "3" an internet offer, and so on - |
| hot lead, and not every hot lead will turn into a sale. | | | | so when the lead calls in on a certain extension, the |
| To arrive at a reasonable per lead advertising budget, | | | | agent is able to ascertain which types of advertising |
| it is wise to first analyze the average number of leads | | | | and promotion are the most cost-effective. |
| it takes to get from A to Z - from lead generation to a | | | | The call capture system also allows the agent to |
| closed sale. Next, analyze the percentage of | | | | record different types of special offers on the |
| commission from each closed sale that can be | | | | recorded message each extension holds, and to |
| reasonably allocated toward generation of new leads. | | | | "mirror" those offers with different types of advertising |
| It is important here to not simply follow the national | | | | and promotion. For example, an agent might offer a |
| averages, but to determine actual per lead | | | | free credit report for a direct mail postcard and |
| cost-to-closed sale ratio in each specific market area. | | | | newspaper ad, and a special discount for an internet |
| One additional challenge that enters the picture when | | | | search-generated lead. Using the call capture system |
| completing these essential tasks comes when | | | | reports, the agent can analyze in great detail which |
| factoring in how prospects research listings in today's | | | | types of advertising and which special offers generate |
| market. With the rise of the internet search coupled | | | | the most interest among prospects. |
| with the ever-present difficulty in quantifying results of | | | | Even more importantly, when the lead calls in to the toll |
| direct mail and print advertising campaigns, setting | | | | free number and punches in the extension, the call |
| realistic budgets becomes increasingly challenging. | | | | capture system captures the caller's phone number, |
| Many real estate agents are now using call capture | | | | with an option to capture the name and address of |
| technology to determine how advertising dollars should | | | | the caller as well. In this way, the busy agent also has |
| be allocated to hit their budget per lead. By attaching | | | | information to follow up on leads generated by the call |
| an 800 call capture number to every piece of | | | | capture system. |