October 11, 2011

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Vendor Reports: Why Are They Important?

Do you let your vendors know what’s happening with their advertising every step of the way throughout their campaign? Or do you avoid showing them statistics until the end, filtering the results so you only deliver the positive news?

Good or bad, you should be providing your vendors with weekly updates on what’s happening with their advertising campaign so you can better manage their expectations and, ultimately, the result of the campaign. An easy way to do this is by distributing a weekly vendor report.

If you are a busy agent with lots of clients, the thought of gathering statistics for all of your properties might seem daunting. You’d need to find out how many people visited each property and what number of enquiry emails you had, then look at comparable properties and combine it all to make a meaningful report.

This could take some time and may seem tedious, however each of your clients deserves the individual attention and feedback, particularly if they are paying for the advertising. But for the sake of your sanity, it’s best to look to an automated system to do the work for you.

One easy way to gather this information is through your advertising portal. Most of the large players will provide you with the raw statistics on each of the properties you have listed. Some of the more advanced portals will even package this information in a useful report that you can then forward on to your vendors.

If your portal does not provide such a service, you may need to do the grunt work yourself. No doubt you receive reports of some sort from all the different portals you advertise on as well as your own website. You should collate as much of this information as possible so you can provide your customers with a well-rounded picture of how their marketing is tracking.

Vendor reports are also a fantastic tool for you to compare properties and see which portals are producing better results than others, along with which properties are performing better and why. This knowledge is great for advising customers on how to achieve better results from their advertising.

Above all, remember to keep your vendor reports simple and only include the facts. Ultimately, vendor reports should provide a springboard for considered conversation between you and your vendor about what’s best for their listing.


Related posts:

  1. Which Portal is Right for You?
  2. Top 10 Tips for Choosing a Property Portal
  3. It’s More Than Just An Ad On A Portal


  1. Paul Caine says:

    Great sentiment and absolulty necessary to maintain a professional level of service and communication.


  1. Social comments and analytics for this post…

    This post was mentioned on Twitter by myceolife: New PAG Post: Vendor Reports: Why Are They Important? - Don’t be frightened of the statistics - use them to upsell … http://ow.ly/17ccXA...

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