{"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_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":"","jetpack_post_was_ever_published":false},"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":1997,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1997\/oh-good-grief-he-went-to-jared\/","url_meta":{"origin":9816,"position":0},"title":"Oh, good grief! He went to JARED…","author":"Greg Swann","date":"October 2, 2007","format":false,"excerpt":"Joel Burslem cites a Glenn Kelman quote from a comment to John Cook's post this morning, but I think this one is more interesting:By the way, no matter how many times the real estate industry insists that we're JARED (Just Another Real Estate Discounter) we can't help but add that\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":13002,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13002\/me-and-claudia-and-php-using-internet-real-estate-marketing-to-you-know-sell-real-estate\/","url_meta":{"origin":9816,"position":1},"title":"Me and Claudia and PHP: Using internet real estate marketing to — you know — sell real estate…","author":"Greg Swann","date":"August 15, 2010","format":false,"excerpt":"So, the Arizona Republic ran an article yesterday on on-line real estate marketing and you will never in a million years guess who they did not call. I never get called for any of those kinds of things -- the RaiseTheBarTab kinds of events -- even though we're doing cooler\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1206,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1206\/were-on-the-move-if-you-add-a-comment-tonight-it-will-probably-be-lost\/","url_meta":{"origin":9816,"position":2},"title":"We’re on the move: If you add a comment tonight, it will probably be lost","author":"Greg Swann","date":"March 24, 2007","format":false,"excerpt":"I have what I need to start moving BloodhoundBlog. Once I've posted this message, I will be backing up our MySQL database to get it ready to move. The weblog may continue to seem to work for the next few hours, but any changes made to the database -- any\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":3112,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3112\/marketing-is-religion\/","url_meta":{"origin":9816,"position":3},"title":"Marketing Is Religion","author":"Brian Brady","date":"May 13, 2008","format":false,"excerpt":"\"He's Catholic but he's awfully nice\" was a comment you might have heard, in the 50's. Now, I picked Catholicism but I could have picked Judaism, Evangelical Christianity, Islam... whatever. I'm using this as an example of how high the passions run when talk about a belief system. People are\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":3278,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3278\/listing-real-estate-the-bloodhound-way-the-marketing-power-of-a-custom-yard-sign-is-not-the-color-not-the-photography-not-even-that-it-is-custom-made-its-the-text-on-the-sign-that-stops-traffi\/","url_meta":{"origin":9816,"position":4},"title":"Listing real estate the Bloodhound way: The marketing power of a custom yard sign is not the color, not the photography, not even that it is custom-made — it’s the text on the sign that stops traffic","author":"Greg Swann","date":"June 26, 2008","format":false,"excerpt":"We've been making custom yard signs for two years now, but that represents the third generation of our sign philosophy. 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