How do you know if what you’re spending your money and
time on is *worth* it?
When I first started with 72 Sold, I had never done an ROI analysis in my life. And I didn’t really need to. Prior, my business was 100% repeat and referral - I did a lot of social media posting (free) and delivered some cookies monthly for people’s bdays. My expenses were low and number of deals were flowing. They weren’t flowing because I was doing any sophisticated marketing - I did a great job for my clients and they wanted to refer to me and did. This is the best source of business because it’s high conversion and cheap to acquire. Can’t beat it - Period.
But truth is for many of you, repeat and referral business doesn’t pay the bills or (in my case) allow you to feed a team or scale. Scaling means adding a new source a leads - that’s why many of you want to be 72 Sold agents - to add to what you’re already doing. Leads, particularly listing leads, aren’t cheap or free so evaluating ROI is so important for a few reasons:
- To know at what point you’ll break even
- To know at what point you’ll be profitable
- To compare other ways you could spend the same dollars
- To set expectations of what is a good investment and is not
- To add or subtract from the investment based on performance
- To figure out how to squeeze more business out of the current investment
I know many of you haven’t done this yet, and because you haven't, you’re all over the place in wondering if things are going well versus not going well. How do you know if your 72 Sold business is good if you don’t have this data?
So this Tuesday on Ballers Brainstorm we are doing an ROI call. We are going to talk through how to calculate it, how to think about it, and also going to share ways to increase your 72 Sold ROI for little to no additional ZIP code contributions. I'm also going to review conversion expectations for us so you can measure how well YOU are capitalizing on the leads you receive and adjust if needed.
This will be a pivotal conversation for everyone - please be on this call - please do not schedule another meeting and inspection or something else during this call.
Let’s start acting like business people and get this handled.