We all know that the most important part of running a business is turning a profit. But, next year’s profit is already being impacted by the investments you’re making today. So how do you determine what to invest in key parts of your business like marketing? Understanding and tracking your return on investment (ROI) is the first step to boosting your net profit down the line.
Dan Rochon is a numbers guy. He started selling real estate in 2007 and within a year and a half, he bought the brokerage he worked for. Dan ran that brokerage for ten years before he sold it and decided to share his knowledge by writing a book. Today, Dan is a coach and author, having just spent 13 months writing “Real Estate Evolution: The Ten Step Guide to C.P.I.”
On this episode of Real Estate Marketing Dude, Dan joins me to offer his advice on understanding and calculating ROI. Dan breaks down how much an agent should allocate to different areas of their business and shares three things every real estate agent needs to do as soon as they get their business off the ground. Listen in for Dan’s 3 pillars of business and how you can make the most out of your marketing budget.
- How to treat your business like a business
- What an ROI is and how to calculate it
- Clarifying your future goals in order to achieve them
- Dan’s three pillars of business
- Understanding your customer acquisition cost
- How to manage your marketing budget
- Targeting different databases with different marketing plans
Connect with Dan
Connect with Dan on Instagram or Facebook. Find him on LinkedIn at linkedin.com/in/danrochon. Learn more about Dan’s new book, “Real Estate Evolution: The Ten Step Guide to C.P.I.” by going to therealestateevolution.com/get-book.