TOO MUCH OBSESSION OVER METRICS
Metrics, or measurements, are important. However, most metrics that we look at are lagging indicators -- meaning they're looking back in history and showing us what happened. There are not so many leading metrics in our business that can forecast or show us trends. There's too much discussion over metrics anyway. Why? Where are you in your business right now, in terms of seeing it as a conversion process that is predicated at the core of it? Let's just talk about measuring conversations.
WHAT'S AT THE CORE OF SUCCESS?
Conversations are at the core of your success, whether they occur by text, email, phone or face-to-face. The conversations that you and every member of your team have each week are the most important part of this! This may sound obvious, but you really have to be conscious of when you're having conversations about buying or selling real estate with someone who is interested in... drumroll, please... buying or selling real estate. In a conversion module context, look at the disposition of a contact changing. You'll have conversations with leads; you don't know anything about their timing, so the purpose of the conversation is to determine, "Is there real interest?" The next part of conversion is when they become a prospect. Next is clients. You have to go through all those dispositions with conversations.
HOW MANY CONVERSATIONS LEAD TO PROSPECTS?
When you ask yourself, "How many conversations did I have?" you also want to give it context. Did you really have conversations that led to the act of prospecting? Did you create a contact who is going to continue talking about buying or selling with you? This is foundational. You must be leading prospects right up to the bleeding edge of where they're going to become your client.
DID YOU UPGRADE THE INFORMATION & BOOK LONG-TERM FOLLOW-UP?
As someone moves along the process to becoming your prospect, you want to be able to upgrade them with information. The conversation will generally be going from 'What to Do' to 'How to Do It.' So, did you upgrade the information AND book long-term follow-up? Remember that people desperately need conversation with you! The real estate business is complex and people need to talk to you as the expert who can guide them through it. How long were you with each prospect from inception to the closing of the conversation?
