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Data is the Key to any Successful Multifamily Relationship

Data is the Key to any Successful Multifamily Relationship
As the technology revolution reshapes the multifamily landscape—and that of virtually every other industry, as well—one old-school concept remains intact: Information is power. Twenty years into the new decade, that concept contains a bit of a twist. The majority of relevant and potentially game-changing information comes in the form of data, so it’s not only a matter of having it. It’s also a matter of properly analyzing it and converting the metrics into something actionable for your teams to utilize. In the past, it wasn’t a common practice for interdepartmental teams to share data-related information. It was essentially kept in silos for each team to utilize on its own. That shortsighted approach is beginning to shift. Here's a look at a few of the ways teams can utilize information for the greater good of the organization. Use data to provide context for certain metrics Marketing teams can provide a cost per lead, cost per click and other similar metrics, but it doesn’t tell the entire story or how effective those channels have been. For context, imagine learning that an athlete is paid $2 million per year, which sounds hefty. But when metrics are introduced that show the average salary for his or her position is $8.4 million, the context shifts. Likewise, when marketing teams also provide benchmark data points, month-over-month and year-over-year comparisons to accompany their cost metrics, it gives a true indication of how the channels are performing. Establish KPIs from the beginning for all departments Key performance indicators—most often referenced as......
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Are People Cheering For You To Win-or to Lose?

Are People Cheering For You To Win-or to Lose?
Major League Baseball (MLB) announced that it has suspended New York Yankees third baseman Alex Rodriguez from playing baseball until the 2015 season for using “Performance Enhancing Drugs,” or PEDs, during his baseball career and for attempting to obstruct its investigation into PED use.    Whether Rodriguez is guilty, or whether MLB was justified in handing down a much stricter suspension than it has for other players who were caught using PEDs, isn’t the point of this post as much as everyone’s reaction to this. It seems everyone just wants him to go away. Major League Baseball...the Yankees....the fans...   Just a few years ago the Yankees signed Alex Rodriguez to a $275 million (let that number sink in for a bit) ten-year contract. He was supposed to be one of the cornerstones of the franchise for years to come. Many thought he would even break the all-time home run record-he was just that good.    Yes, people remarked that he seemed selfish, self-absorbed, and demanding. He was often compared unfavorably to fellow Yankee Derek Jeter, who it seems can do no wrong. Yet as long as Rodriguez performed, it didn’t really seem to matter if he really was a self-absorbed jerk. In other words, they may have hated the guy, but as long as he hit home runs when it mattered, it was all good.    What Happens When You Hit a Slump?   But then, Rodriguez started to struggle. The big hits he was known for began to dwindle and he of......
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