Key performance indicators (KPI’s) are metrics organizations use to track and evaluate how well they are at making progress towards their long-term goals.
What metrics does your property use evaluate progress towards your apartment marketing goals? Do you wish there was a better, more efficient way to track your property marketing leads? Do you ever wonder what your prospects are thinking when they read your ads? Are your staff members effective at turning leads into leases?
Are you thinking outside the box? Change is inevitable and necessary to stay alive in this economy. To grow your business, your property needs certain tools. Prospects will visit your community and be amazed by a better, more knowledgeable staff, all the while converting leads to leases. Success is at your finger tips!
Here are six metrics that we think can take every property's marketing effort to the next level.
* Ad Impressions - Total number of eyeballs that see your ads
* New Leads - Total number of clicks/calls/emails from your marketing
* Lead to Tour - Ratio of how many leads turn into a tour.
* Lead to Lease - Ratio of how many leads turn into leases or sales.
* Average # of Follow-ups Per Lead - Indication of how effective you and your staff are at following up with the leads you get.
* % Open Leads
Best practice is to gather and report these metrics at least weekly (daily preferably). This will ensure everyone at the property knows when things are going too or are off track and will give them time to correct issues before they get too big. After all, you wouldn’t drive a car if you couldn’t see where you were going – the same is true of your marketing efforts. Would you like to learn more about KPI’s?
Read the entire article as well as find more helpful property marketing tips and resources at www.PropertyMarketingGurus.com.