This guest post was written by Larry Easto who is a
best-selling business writer, and publisher of Real Estate Marketing Link

What Good Are Regular Marketing Reports?

At one very frustrating stop in my career path,  I had to to prepare weekly activity reports. I was required to record and report details of everyone I spoke to. At the time, I thought it was simply something that the director demanded to control her people.

With the benefit of 20/20 hindsight, I now understand that the reports were intended to track sales and marketing activities. I now appreciate the importance of tracking the results of all marketing activities.

The Benefits of Tracking Marketing Activities

Unfortunately many agents do not track their results. It’s something that they never quite get around to doing.  By tracking results you can expect two significant benefits:

1. You will learn which marketing activities yield the best results and also which ones need to be improved or even terminated. I’m not sure why sales people continue to devote resources to marketing activities that fail to produce what they seek. Maybe they don’t track their results so they don’t really know which activities are effective and which ones are ineffective.
2. By tracking results, you shift your focus from continuing to chase the next deal to developing and maintaining systems that can generate the next 200 deals. In other words, tracking results enables you to run a business that, if properly managed, will generate a sustainable income.

The Bottom Line

Good business management includes tracking and then analyzing your results. This analysis will help you identify effective marketing activities so that you can continue to do these things and do them better.  The analysis will also help identify ineffective activities so you can either improve them or stop doing them.

From the perspective of overall business and marketing management, tracking results make so much sense. If only that director had explained the importance of tracking results, working with her might have been less frustrating.

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