Tracking Prospecting Results

Tracking helps you understand which prospecting methods have been most productive. Here's a step-by-step guide.

1. Set up a database of prospects.

  • Enter first and last names in separate fields. That allows you to use a first name on the letter, but the entire name on the envelope.
  • Be sure that you include phone, fax, and e-mail.
  • Create fields that allow to you to code prospects by:

    • Source. Personal contact, call in, Web site. Use codes here for easier entry, but be consistent.
    • Quality of lead. Ready to buy, interested in learning more, and so on. Use number or letter codes. If others enter information, code leads for them first.
    • Date lead was added and date of last contact. This helps you pull up contacts that have not been contacted recently. It also helps determine which leads are inactive.
  • Add a date field for special days. This field helps you remember and locate birthdays, anniversaries of home buy, and so on easily.
  • Include a memo field for personal information on a prospect. Little reminders of personal information—children’s names, profession, birthday and so on. Next time you call, they’ll be impressed at how well you remember them.
  • Create separate fields (or even a separate database) of information on houses in your farm area. Include the chief factors that buyers in your market need to know:

    • Address
    • Brief description of architecture
    • Number of bedrooms
    • Number of baths
    • Approximate size of lot
  • Be sure that databases are up-to-date. Enter new prospects every week, and clean out bad addresses as they come in from your mailings.
  • Once a year, eliminate unproductive leads, or move them to a separate file.

2. Code all direct mail materials with an unobtrusive letter or number.

3. Using the coding you have established, determine response rates to various promotions and sources of clients. A good response to direct mail is usually 2 percent to 3 percent.

4. Ask all callers where they heard about you. Ask source questions near the end of your conversation, then thank people for their help in tracking your marketing efforts.

5. Re-evaluate your marketing program two to three times a year and make adjustments based on the prospecting techniques that are yielding the best results.

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