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CRM and Call Analysis: A Powerful Combination

As an apartment operator, you need to be thinking every day about how to help your leasing associates drive lease conversions. You can outfit your community with all of the modern, in-demand amenities and create dazzling marketing campaigns, but if your leasing teams aren’t converting leads into new residents at an acceptable rate, your portfolio is running against the wind. And when it comes to boosting those conversion rates, operators will find the one-two punch of a customer relationship management system (CRM) and leasing call analysis very hard to beat. Putting the Solutions in Action In January 2019, one of our customers that manages about 30,000 units implemented a CRM and a leasing call analysis program to maximize its lead-to-lease conversion rate. The two solutions made an immediate impact. The company’s overall lease conversion rate rose from 4 percent in January to 8 percent in February and jumped to 11 percent two months later.  In addition, two key metrics also changed: Managed Leads: This measures how well leasing associates are following the CRM playbook with each prospect. The score rose from 54 percent in February to 81 percent in April.  Shop Score: This measures the call quality on inbound leasing calls. The score rose from 58 percent in February to 66 percent in April.  The gains are the result of several improvements to the company’s leasing efforts derived from the implementation of the new technologies. First, the CRM provides associates with a “playbook” for each and every lead that comes into the syste......
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Join the Revolution: The Case For Multi-Touch Attribution of Prospect Leads

Renters use on average three or more sources for information during their search. While most multifamily marketers are aware of this, they continue to use a simplistic lead attribution model that assumes renters are making decisions based on a single source of information.   Marketers may be using this model because it’s easy or because they believe that in the end it doesn’t appear to matter if you assign a lead to the first source or the last source—the results are the same. The problem isn’t necessarily that single source attribution is inaccurate, it’s that this model is incomplete.   Making decisions based on incomplete information can result in poor investment choices or missed revenue opportunities. That’s why many industries outside of multifamily have implemented multi-touch attribution models. According to the AdRoll Performance Marketing Report, “75 percent of marketers find attribution critical or very important to marketing success and nearly 60 percent reported that they plan to take the definitive step of changing their attribution model in 2017.”   The move to multi-touch attribution has empowered marketers to show, in quantifiable and indisputable terms, their impact on revenue. This has flipped the marketing paradigm. In tech-savvy companies, marketing is now viewed as a revenue producer rather than a cost center.   Not only can this kind of closed-loop revenue reporting give marketing leaders a seat at the executive table, it also offers increased visibility into what influences pipeline and revenue creation.   Optimized marketing spend. Multi-touch attribution delivers transparency into which channels and pr......
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