Navigating Success: Mastering ROI with Precision Lead Tracking in Real Estate

In the world of real estate, understanding where you've been is crucial to knowing where you're going." This philosophy, echoing the wisdom of from Peter Drucker quote "What gets measured gets managed," is at the heart of our approach at Amy Stockberger Real Estate. A source code isn't just a field in our transaction management software (we use SISU and love it); it's a key to unlocking where our sales are coming from, allowing us to strategically allocate our time, money, and effort.

The Power of Source Codes:

Our source code system categorizes each lead source, providing instant access to the origin of each lead. This isn't just about tracking; it's about making informed decisions on where to invest in marketing and understanding what's yielding the best ROI.. Here’s how we've broken it down, with examples to guide you in setting up your own system.

100’s – Company Generated (NON-ISA):

Our 100’s category represents Company Generated leads that are not from the Inside Sales department. This includes referrals from employees, leadership-directed leads, and transactions through various personal LLC’s we as the broker/owners have. It's a crucial part of our system, ensuring we accurately track leads generated internally.:

Examples:

101 - ASRE - Lead from Amy/Adam

102 - ASRE Employee

103 - ASRE Employee Referral

104 - Amy/Adam Personal

105 - Stockberger Rentals

106 - Hoffberger, LLC

107 - PMT/AST, LLC

108 - BHC/AST, LLC

200’s – ISA Department Leads:

The 200’s category is dedicated to our ISA leads. We've categorized every lead pillar used by ISA, ensuring that if we invest in a marketing campaign, its effectiveness is meticulously tracked. Whether it is a Pay Per Click campaign with our IDX or Zillow leads, this granular approach allows us to evaluate the effectiveness of each lead pillar within our ISA department. If you do not have an ISA department, these could be categorized in your Marketing section, which we have as our 400’s.

Examples:

201 – Past Client

202 – Past Client Referral

203 - Floor Time

204 - Google

204 – Walk-In

205 – Home Support Team partner (Leadership/Owner)

206 - Home Support Team Employee

207- Home Support Team partner Referral

207- Sierra PPC

208 - Sierra Organic

209 - Google Local Services

210 - Living In Sioux Falls Youtube Channel

216 - Facebook

217 - Instagram

210 - Zillow

211 - Broker to Broker

212 - Relocation Company

213 - Expired

214 - FSBO

215 - Circle Prospecting

216 - Corporate Partners (Leadership/Ownership)

217 - Corporate Partner Employee

218 - Corporate Partner Referral

300’s – DataBANK (SOI/Past Clients):

Our DataBANK, consisting of our Sphere of Influence and Past Clients, is our largest lead source. We track each client with as much detail as possible, which is vital for reinforcing referral behavior and identifying our top clients. For clients who do multiple transactions with us each year, we have a separate source code for them. As an example, one of my investors buys and sells multiple times a year using various LLC’s as well as buys and sells personally often. I have a source code with his name so at any time I can pull and see what my GCI year to date from that source. It is critical to reinforce referral behavior and this helps to determine my A++ clients quickly. For long term builder relationships, I recommend giving them their own source code.

Examples:

301-Past Client

302-Past Client Referral

303 - DataBANK/SOI Referral

304 - Home Support Team Partner (Leadership/ownership)

305 - Home Support Team Employee

306 - Home Support Team Partners Referral

307 - Home Support Team Employee Referral

308 - Corporate Partners (Leadership/Ownership)

309 - Corporate Partner Employee

310 - Corporate Partner Referral

311 - Leads Group/BNI

312 - Lender

313 - One Roof Partner

314 - Builder

315 - Previous Co-Transaction Client

400’s – Marketing and Other Sources:

The 400’s category encompasses all marketing and lead pillars not associated with ISA. This is where we track the ROI of our marketing investments, from digital campaigns to unique offerings like our VIP Club. We even have a 'General Marketing' code for leads that don't fit into a specific category as your marketing should be omni-present so sometimes clients can’t pinpoint exactly where they heard about you.

Examples:

401 – Google

402- Sierra PPC

403 - Sierra Organic

404 - Google Local Services

405 - Living In Sioux Falls Youtube Channel

406 - Facebook

407 - Instagram

408 - Zillow

409 - VIP Club/Moving Truck

410 - Guaranteed Sale

411 - Instant Offer

412 - Trade Up 

413 - Seller Operation Support

414 - Love It or Leave It Guarantee

415 - Lease Buy Out

416 - ASRE Property Management

417 - Expired

418 - FSBO

419 - Circle Prospecting

420 - Attorney

421 - Billboard

422 – Local Best

423 – General Marketing

424 – Direct Mail Postcard

425 – Radio

426 – Bridal Show

427 – Buyer Seminar/Webinar

428 - Seller Seminar/Webinar

429 – For Sale Sign

430 – Open House

431 – Floor Call

432 – Geo-Farm

433 – Chamber of Commerce

434 – Online Reviews

435 – Airplane Banner

436 - SiouxFalls.Business

437 - Newsletters

438 - LED Truck

439 - Non-Profit Referral

500’s – Broker to Broker and Relocation: 

Our 500’s category tracks Broker to Broker Incoming and Outgoing Referrals and Relocation Company leads. At times past clients will  move out or move back into market with a Relocation Company referral fee and we track these in the 500’s but could easily be tracked in the 300’s too.  

Examples: 

501 – Broker to Broker Incoming Referral

502 – Broker to Broker Outgoing Referral

503 – Relocation Company

504 - Past Client Relocation Company

 Why Implement This Now 

As we approach the new year, setting up or refining your source code system is essential. This system is not just about record-keeping; it's a strategic tool for making data-driven decisions that will shape your business's future. 

Your Next Steps: 

Reflect on Your Lead Sources: Review this year's leads to identify patterns and potential categories.

Set Up Your Categories: Tailor our system to fit your unique business needs.

Implement and Train: Integrate this system into your CRM and ensure your team is well-versed in its use.

Ready for a Game-Changing Year?

By implementing a detailed source code system, you're taking a proactive step towards a year of informed decisions and strategic growth. Remember, the best way to know where you're going is to understand what worked in the past. Let's make 2024 a year of measured success and strategic triumph in real estate.

Take Your Real Estate Strategy to the Next Level

Ready to transform your understanding into action? Join us at our exclusive masterclass, "Navigating Success in Real Estate." This is your opportunity to dive deeper into effective lead tracking and relationship building strategies that can redefine your success.

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