Statistics for HSV Marketing:
- 2012: 86% lead increase and a 85% increase in digital clicks due to national advertising
- 2013: 10% lead increase and a 1168% increase in digital clicks due to national advertising
- 2014: 68% lead decrease and a 5% increase in digital clicks due to reduced national advertising
- Advertising dollars were allocated to product development in 2014. The only national advertising completed in 2014 was for the launch of the Ouachita Sports Trail which was profitable within 3 months of its start and Arkansas State publications.
- 2015: -95% lead decrease tracking currently (3/1/15) due to reduced national advertising
- Advertising dollars are again allocated to product development currently.
Advertising works! It increases brand awareness, engages, creates interest, and entices your target market to act. Placing the right advertisement with the right call to action in the right medium will benefit your business.
However, just advertising is not enough. A lead (inquiry) and sales database with a reporting system is very important to manage returns on investment, supply metrics for analysis, and provide excellent customer service (work the leads).
Not every advertisement placed in market will work, it is important to test mediums, advertisement appearances (graphic designs), as well as calls to action. Reporting on each media buy properly will offer you the insights needed to reinvest or divert monies per medium, call to action or per advertisement appearance.
Lead & Sales Database
When I started working for the Hot Springs Village POA in October 2011, I inherited approximately 6000 leads on an Excel sheet that had been distributed to every real estate and rental company in the Village. Some leads were over contacted causing abrasion, while others were never contacted. To resolve the situation, I re-touched every lead with a Welcome Book and built a database system using Sugar CRM.
The database allowed HSV Marketing to input the leads and assign each to one company per interest i.e. a vacation interest lead was assigned to a rental company whereas a live here / property lead was assigned to one real estate company. The benefits of the database included:
- Proper assignment and lead responsibility. Companies that did not work the assigned leads were not given any additional leads until the ones already allocated were managed.
- Third party access to work the leads which included the ability to change the status from in-process to qualified, dead or sold as well as input key information gathered from working each lead.
- Oversight and reporting for Hot Springs Village Marketing.
- Control of duplicates, reducing overall abrasion by the Hot Springs Village sales team (real estate and rental companies).
Marketing launched the database with a full training program including a leave-behind ‘how to’ guide. To date, the system is working very well for all parties.
Salesforce and Sugar CRM are good database system options but there are many other options available customized to each company’s database goals and operational budget.