You’ve already learned about effective recruiting, proper marketing, staffing your models properly and training your agents to use CRM to build relationships. Is the traffic in your model home being handled effectively and efficiently?
Do you know how much it costs to bring a prospect through the door?
You should be weighing the expenditure of your marketing dollars against the conversion rates. If a builder spends $500,000 each year on marketing, it could factor down to a cost of $300 to $500 for every person. If you’re spending that much to get someone to walk in, what happens if you have a salesperson who has 40 walk-ins and can’t convert any? That’s $12,000 to $20,000, with zero ROI. Now, calculate the number of traffic units over the course of the year and ask yourself if you need to plug another hole.
- Communicate the cost of traffic to your sales team so they can appreciate the value—or lack thereof—of spending time with every guest who visits.
- Make the cost of traffic personal and important. Tell them, “If you had to give me $400 for every person who walked in the door, how would you treat them?”
BOTTOM LINE: You’re investing money in driving traffic to your model home. Make sure you’re getting a good return by measuring the cost of those visitors.