Another Chapter of Lessons Learned…

Today we will focus on marketing expenses with Sam Miller, a Top Realtor in Mount Vernon, Ohio. Click here to go to his site: Sam Miller

Nellis: “Sam tell us where you focused your marketing to increase business”

Sam Miller: “I had doubled my real estate sales volume in a single year by doing some creative print marketing. I ran some very creative eye catching advertisements that caused people to call us. The campaign was a huge success.”

Nellis: “Indeed if you doubled your business in one year that is very impressive. Were you able to follow up the success the following year?”

Sam Miller: “I really wanted to take that exact concept and try to double our business again. I increased the frequency of the ads and made the ads bigger, better and I spent nearly twice as much that second year on marketing.”

Nellis: “So what happened? Did you see the same results?”

Sam Miller: “Unfortunatley no, I did about the same amount of business as the prior year but I had DOUBLED my advertising expense and reduced my profit. What I hadn’t realized is that I had already reached the peak for print marketing the first year when I doubled my business and adding more print advertising wasn’t going to increase the number of inquires I got so sales didn’t increase.”

Nellis: “Is there a pivotal lesson you learned about marketing or expenses?”

Sam Miller: “The real lesson learned was that I should have been tracking the results from my marketing much closer because I could have saved a lot of money and effort. Today there is nothing I do that is not tracked and everything gets an ROI evaluation (Return on Investment).”

Nellis: “Sam I loved the phrase you used earlier about effort can you explain it?”

Sam Miller: “I now always run an ROE (Return on Effort). ROE is not something discussed often in real estate but evaluating a return on effort is super critical so that you are not bogged down doing non productive activities.”

Sam Miller, thank you for sharing about Money Lost with large budget print advertising and a glimpse of how to find both time and money with a deeper look into ROI and ROE.

Sam Miller has served the residents of Ohio for many years with a complete team that can help serve you today… Go to Apple Valley to find out about one of the communities that Sam’s team serves.