Apartment marketing metrics that matter & Marketing IQ
Aug 23, 2023
It’s hard to be a marketer today if you don’t have access to data (and lots of it). Particularly for apartment marketers, you need to be able to see the specific apartment marketing metrics that matter to you. Things like lead-to-lease conversions, cost per lease and return on ad spend are probably at the top of your need-to-know list.
The challenge is that finding, aggregating and analyzing all that data can be quite time consuming. Pulling numbers from ILSs, pay-per-click ads, website traffic and your CRM is no small task.
Fortunately, there are marketing analytics tools that can do that for you. Today we’re going to look at Marketing IQ, our marketing analytics solution. It is by no means the only one on the market, but Marketing IQ is the one designed specifically to meet the needs of multifamily marketers, especially those using RentCafe websites.
If you’ve been curious about Marketing IQ, this post is for you. Hear from one of our clients who uses it to track their marketing success, then discover the five apartment marketing metrics we recommend checking regularly.
Fogelman on Marketing IQ
We recently had the opportunity to chat with Melissa Brady, vice president of strategic marketing at Fogelman Properties, a multifamily property management firm based out of Memphis. While she was telling us about her experience working with our agency for SEO and PPC (you can read that story here), Marketing IQ came up.
You see, you can’t prove a strong marketing strategy if you don’t have a way to measure its effectiveness. And even though our team can and will do that for you if you’re working with REACH, it is always great to see your data with your own eyes, displayed whenever and however you want to see it. Plus, Marketing IQ pulls in data from non-REACH sources as well, so you can keep your eye on the bigger picture.
Here’s Melissa’s take:
“We are very excited to have Marketing IQ be that full aggregate dashboard for all of those different KPIs that we normally would need to pull individual reports for. Now we have it in one single dashboard, by community, by property or portfolio as a whole. And we can really hone in on what does our lead velocity look like, how are our conversions, what is that ROAS, what does that return and acquisition cost look like?
But what I’m most excited about is that we can also see the trend and measure effectiveness over time, and it helps us contextualize that data and really understand the value of our efforts and how we’re trending in the right direction.”
5 apartment marketing metrics to check
In a previously published post, we shared 5 marketing metrics you should be checking in Marketing IQ. This post is definitely worth a read if you have the time, but we’ve included the infographic below for quick reference.
Data questions? Get in touch
Our agency team is always ready to talk about the marketing metrics that matter to you. Contact us to get connected with the right person if you’re not working with REACH or using Marketing IQ yet.
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