When we at PropCoach get asked for training, talks and sharing, we always check with our clients what topic they would like to learn more about. The one topic that always jumps out is lead generation. The main question we always get asked is: how much will is “cost’’ me to run a good lead generation campaign?
Let me ask this in return: How much money do you really need to grow your real estate career?
Or to flip it around, are all of your current expenses necessary?
If you’re like most real estate agents, this isn’t going to be the case. I’m sure you can cut out a few costs here and there without it affecting your business.
So why not just do it?
You can’t afford to waste money amid the coronavirus outbreak. Businesses are already bearing the effects of economic consequences.
And who knows how long this is going to continue. So if you have figured out to save on a few things, now it’s time to invest. So where to invest in…
Well if it’s up to me I would invest in one thing, and one thing only…
TRAFFIC!
Yes, in order to run a business you need new visitors to your websites, landing pages, Facebook pages and profiles. So you need a fixed budget a month to get some people to visit.
That’s why you’ve got to avoid all unnecessary spending. It’s the easiest way to boost your bottom line and unlock new opportunities.
For example, if you have multiple credit cards that you have to pay monthly interest, why not bring it back to one. Or if you run two different subscriptions on Netflix and HBO, why not say goodbye to one. The money you save you re-invest back into traffic. So you spend the same amount as other months, but the money goes to future returns.
You might want to make your pick and quit wasting money on whatever you don’t need.
Recently, a client looked at his VISA statement in hopes of finding all the recurring billings.
He thought he might have 8 or 9 of them.
Turns out, he had 40 recurring payments with all different providers, subscriptions and networks.
And it’s a good thing he found out, too. He got to work and cut them down to eight and took part of the saving to reinvest back into Facebook advertising. What gave him a boost of 10K visitors to his landing page. From the 10K he converted about 35 leads, and already closed two new clients. (worth 18K in commission).
Now, that’s what we call a very good return of investment. And it didn’t cost you anything more. You just redirected the money outflow to more important investments. The power of investing in TRAFFIC.
Many of us don’t realise how much money we’re wasting. So what better time to look into this than now?
As a summary, here’s a simple rule to follow:
Cut down on everything that doesn’t give an immediate return. And then use the extra money to double-down on the investments that do.
If you don’t know where to start, send us an email to coach@taconco.com. We will be able to send you a spreadsheet that will help you in your cost structure and creating an investment budget for traffic.
Good luck and keep in touch!
