Every day it seems like there is a new sales rep calling with an idea that will make the phone ring, or really sounds as if it could be added to your lead generation mix. The thing is, typically there aren’t mid-year mulligans for the marketing budget unless there is something really disruptive going on in the market.
How do you get the most effective lead generation bang for your marketing buck? If you’re properly tracking and measuring your leads with the use of a Contact Relationship Management (CRM) system, the ability to run reports exists. You can see which lead sources generated the most leads for the year, so that you know that “source x” did or did not pay for itself. That way, when your friendly sales rep calls, you will know from past experiences whether their medium has or has not performed as an effective lead generation tool for your product.
But what if the latest medium being pitched wasn’t in last year’s media mix… …then what do you do? Do you wait until next year—what if that idea is the next big thing in advertising, and your community is starving for new leads or struggling to get existing leads to re-engage and revisit the community?
If your top lead sources include telephone directories and every available outdoor space in your local market but your website hasn’t been updated since you first created it, it may be time to reevaluate your marketing communications plan. Chances might be good if any of the above is even partially true that your lead generation is not even close to its potential or what you need to be to be successful in today’s marketplace.
Regular review and evaluation of your community’s lead sources will provide valuable insights into key performance indicators such as the cost per lead and even more important, the cost per sale and cost per move-in. These metrics are available by campaign and lead source—some of the main reasons why Continuing Care Retirement Communities (CCRCs) adopted the usage of CRM systems in the first place. The reason was not to make the life of the salesperson easier; it was to maximize sales and marketing efficiency through measurement and reporting.
The most productive lead generation happens when the cost per lead is measured and improved through the use of sources that have shown through their performance that they belong in your marketing budget this year.
Spectrum Consultants employs a relationship based approach to sales and marketing, designed to maximize sales with our consultative approach. We work with our clients in a number of areas, and Effective/Productive Lead Generation is only one of what we feel are actually 12 Key Elements of An Effective Marketing Plan.
If you feel like you would like to know more about maximizing the return on your marketing investment, and would like someone from our team to contact you to discuss the unique, multi-disciplined ways that we have worked with other communities around the country for nearly 40 years to achieve exceptional sales and occupancy results, please contact us.
For more information, visit www.spectrumconsults.com or call 704-865-6300.