Steal This Meeting. Effort vs Impact
I would be the first to admit that some of my Tuesday meetings are a complete flop. When you factor in holidays, summer schedules, sick days and bad weather, I conduct about 40 meetings a year at the Bosley Real Estate Queen West office. I will admit that a few of them are pretty bad. Once I had no idea what I was going to talk about so I hired a magician. I told the agents that he was an internationally acclaimed real estate speaker. I had them believing that for about 2 minutes. But at least we had a blast. Some meetings, like this one….well, I feel like I can put it in the “win” column.
This week’s meeting was all about figuring out where to spend your marketing money. When I do yearly reviews I always ask the question…What are you spending money on? What’s working? What’s not? I got this idea to create a visual representation from the Agent Reboot Conference I recently attended in NYC. First, I drew a chart. The horizontal line represented the effort from easy and cheap to expensive and hard. The Vertical line represented the impact your idea would have from little impact at the bottom to high impact at the top. Then we started naming off things we spend our money on and placed them on the chart in the appropriate spot. It’s a bit arbitrary because something like a PR campaign might be really easy and inexpensive for one agent and the complete opposite for others so I asked the person with the idea to figure out where to place the dot. Ultimately we came up with 30 things. If we had more time I’m sure we could have come up with another 30. What I hoped would happen was that a group of things would emerge as being inexpensive and high impact…and thankfully that’s what I got. Whew.
Later I was thinking that this would be a good exercise for individual agents to do since they all have different skill sets. What do you think? Are there any other things you would add to the list that I missed? Where would you place them?
I’m not sure if it is just my rambunctious crowd but when we do exercises like this they often lead to some interesting remarks and hilarity so, to all the managers out there, have some fun with this one.