{"id":9816,"date":"2009-09-22T15:29:37","date_gmt":"2009-09-22T22:29:37","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=9816"},"modified":"2009-09-22T15:29:37","modified_gmt":"2009-09-22T22:29:37","slug":"making-the-numbers-in-real-estate-marketing-add-up","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9816\/making-the-numbers-in-real-estate-marketing-add-up\/","title":{"rendered":"Making the Numbers in Real Estate Marketing Add Up"},"content":{"rendered":"

In a recent Bloodhound post about Twitter<\/a> (only Brian Brady could write the third post in just over a week on the same subject and generate so many comments!) there was a comment on marketing numbers that so intrigued me I felt compelled to respond in a post rather than a comment.\u00a0 It’s been my experience that many of us do not accurately calculate the numbers when it comes to our marketing.\u00a0 This should really come as no surprise – numbers and especially statistics can be beguiling and even misleading.\u00a0 But if we’re not tracking and calculating our marketing efforts correctly, we’re just shooting into a dark room hoping we’ll hit the target.<\/p>\n

The numbers quoted (or maybe it was just the idea) are credited to Larry Kendall, but they provide an interesting opportunity to work a real world example of marketing in general and Twitter specifically.\u00a0 For this exercise I am pulling some examples from the actual comment, but just about every one of us has made this type of calculation before.\u00a0 I follow each with a slightly different view.<\/p>\n

I want 50 local people that I can really connect with (on Twitter).\u00a0 If I have 50 people and they each know 50 people, I have a pool of 2,500 people<\/em>.\u00a0 Not quite.\u00a0 It means you have the potential<\/strong><\/em> to reach 2500 people, but it’s unlikely.\u00a0 For the purpose of calculating marketing numbers… you’re reaching 50.\u00a0 This is akin to speaking at a seminar filled with 50 people from the neighborhood and assuming you’ve reached all 2500 people in the neighborhood – you haven’t.\u00a0 If, on the other hand, you send a direct mail piece to all 2500 people in the neighborhood, then<\/em> we say you’re working from a pool of 2500 potential clients.\u00a0 Is it realistic to think all 2500 read that mailing?\u00a0 Of course not.\u00a0 But our expected conversion numbers take that into account.\u00a0\u00a0 The expected conversion numbers are simply based<\/em> on a pool of 2500.\u00a0 A pool of 50 will generate no usable statistical model from which to base a marketing campaign.<\/p>\n

If the *normal* turnover rate in my local Read more<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

In a recent Bloodhound post about Twitter (only Brian Brady could write the third post in just over a week on the same subject and generate so many comments!) there was a comment on marketing numbers that so intrigued me I felt compelled to respond in a post rather than a comment.\u00a0 It’s been my […]<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[212,6,5],"tags":[533,222],"class_list":{"0":"post-9816","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-flourishing","7":"category-marketing","8":"category-real-estate","9":"tag-marketing","10":"tag-twitter","12":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":12829,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12829\/the-holy-grail-of-real-estate-marketing-what-actually-works\/","url_meta":{"origin":9816,"position":0},"title":"The Holy Grail of Real Estate Marketing: What Actually Works?","author":"Jeff Brown","date":"August 1, 2010","format":false,"excerpt":"The only thing this marketing ignoramus can say with unshakeable confidence, is that marketing ain't sales. The rest I'm not all that sure about. Though to be fair, the more I read, the more I'm confused. So many of those who put bread on the table giving marketing advice, disagree\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13046,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13046\/if-you-are-a-working-realtor-if-you-list-and-sell-residential-real-estate-for-a-living-the-time-you-spend-on-social-media-sites-is-almost-certainly-anti-marketing-doing-you-more-financial-harm\/","url_meta":{"origin":9816,"position":1},"title":"If you are a working Realtor — if you list and sell residential real estate for a living — the time you spend on social media sites is almost certainly anti-marketing, doing you more financial harm than good.","author":"Greg Swann","date":"August 20, 2010","format":false,"excerpt":"Chris Johnson pulled this out of our phone conversation the other night, quoting me on Twitter:People don't want a relationship with you. They just want your damn services.We were talking about real estate weblogging, but the principle applies even more firmly to the world of social media -- Twitter, Facebook,\u2026","rel":"","context":"In "Abusing Twitter"","block_context":{"text":"Abusing Twitter","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/abusing-twitter\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":235,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/235\/were-number-seven\/","url_meta":{"origin":9816,"position":2},"title":"We’re number seven?","author":"Greg Swann","date":"August 23, 2006","format":false,"excerpt":"Maybe not. BusinessWeek has the Phoenix\/Mesa metropolitan area as the seventh healthiest real estate market in the country -- but since their analysis is based on year-over-year appreciation, that news is not nearly a momentous as it portends to be. Using our own numbers, yearover-year through July we're up 0.57%\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":319,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/319\/more-august-housing-numbers-for-the-phoenix-area\/","url_meta":{"origin":9816,"position":3},"title":"More August housing numbers for the Phoenix area . . .","author":"Greg Swann","date":"September 11, 2006","format":false,"excerpt":"Dr. Jay Butler of ASU has his August numbers out, and his report is faithfully echoed by The Business Journal of Phoenix. The big news: 2006 is not 2005. Who knew? The real news? August was not great but not awful. You heard it here first, And second. Fifth place\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2780,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2780\/bloodhoundblog-is-the-number-one-real-estate-weblog-technically-true-for-a-brief-moment-but-we-still-have-some-growing-to-do\/","url_meta":{"origin":9816,"position":4},"title":"BloodhoundBlog is the number one real estate weblog? Technically true for a brief moment, but we still have some growing to do","author":"Greg Swann","date":"March 16, 2008","format":false,"excerpt":"A tiny trophy, a huge victory -- to come. We had a helluva week last week, our best ever -- until now. So what did we do this week to top last week's numbers? How about almost double? The real estate category on BlogTopSites is the home of truly competitive\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9727,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9727\/twittering-twitts-of-twittledom\/","url_meta":{"origin":9816,"position":5},"title":"Twittering Twitts of Twittledom","author":"Sean Purcell","date":"September 11, 2009","format":false,"excerpt":"I have always loved Through the Looking Glass by Lewis Carroll.\u00a0 It is many things, not least of which is a truly amazing exposition on language.\u00a0 I bring this up because I recently read Brian Brady's piece entitled Is Social Media Marketing Worth the Effort and quickly imagined myself on\u2026","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"tweedledee-tweedledum","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2009\/09\/tweedledee-tweedledum.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/9816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=9816"}],"version-history":[{"count":13,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/9816\/revisions"}],"predecessor-version":[{"id":9829,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/9816\/revisions\/9829"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=9816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=9816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=9816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}