What are your conversion rates?

Question

What are your conversion rates on marketing dollars?

I’m just getting started here in FL and going to spend some $ marketing.

If anyone is willing, I’m looking for a general range of dollars per lead and dollars per deal for the following strategies:

Direct mail

Cold calling

PPC

Texting

RVM

Radio

Hoping to get some good feedback here as I know there are many others looking to get started spending marketing dollars but don’t want to just blow money.

Thanks in advance!

Brendan Lawrence · Answer

@Jacob Kline, i do not use carrot, but it would be the same idea. my guess is the better branded the site the higher the conversion. as in people are more likely to fill out the lead form on something like iwanttobuyyourhomenow.com compared to abcdefg.com. we have our leads tied to Podio, this along with some other tools, automatically sends out texts, automated calls and emails. The lead is only the first part, you either have to sell the lead or convert it. (or let it get wasted)

Jacob Kline · Answer

@Brendan Lawrence I couldn’t agree more. I’m getting whooped right now trying to set up a system that has some level of automation for marketing and keeping track of leads.

Seems like Podio is going to be the best bet starting out and just integrate it with a dialer, RVM, and texting platform. How do you have your setup automated?

Jacob Kline · Answer

@Brendan Lawrence interesting. So does the PPC feed into a Carrot website? Or something you’ve done yourself. Also are you saying that you use calling and texting for follow up on those leads?

I’ve heard a lot of good things about PPC but feel like it’d be really expensive in my market.

Thanks Brendan!

Brendan Lawrence · Answer

PPC runs 50-200 dollars a lead, depending on specific market and level of competition. it's roughly 1 in 20 leads turns to a conversion or about 5%. so on the high end 4000 a conversion low end 1000 a conversion. this is backed up by text and email. so i build them all in for cost. this doesn't not include any overhead just the marketing.