As marketers, reporting is essential to the process — it’s the bread and butter. That’s why it’s critical to consider this question: is your reporting leading you to actionable insights? Looking at each tool’s reporting can help you decide on future budgets and procedures. Here are a few questions to consider when evaluating your reporting.
How are you saving time?
Figure out how your marketing tools are saving your team’s time. For instance, BetterBot’s Multifamily automation solution saves an average of 100+ hours (per property, each month), allowing team members to focus on more critical tasks. When your marketing tools help save your teams time, it’s also saving them money. Check out how your property is saving time through your reporting. It’s important to consider if your solution is to set appointments or nurture your traffic.
What is your lead volume?
Knowing your lead volume can help you assess the next steps for your community. For instance, if your property is getting more leads than it can handle, it might be time to introduce some automation tools. How can you increase your traffic if your property isn’t seeing enough? If you are using bot technology, greetings are one of the first KPIs you will want to look at regarding your web traffic. This number tells you how many people your bot has, you guessed it, greeted! It’s essential to get a good gauge on what is the typical amount of traffic for your community. Then consider how many of those greetings are turning into actual leads for the community.
Conversion rates?
The last reporting metric you want to hone in on is conversion rate. BetterBot’s NurtureSkill converts nearly 60% of leads into conversations. From those leads, 1 in 5 turns into an appointment. Once prospects have all the info, the serious ones will take the next step to visit the property. This is such a substantial number because it shows how many of those who contacted you are making an effort to visit your community. As marketers, it’s essential to focus on the leads coming in. It’s the property’s job to take it from there and convert those leads. If you notice that the leads setting appointments are not converting to leases, take the time to find out why. Is it that they aren’t qualified? Or does your team need additional sales training? Consider all of these when evaluating conversions.
There are specific KPIs your marketing solutions should be hitting in order to ensure they are successful. Take advantage of the reporting available to you through your providers. Of course, people don’t like to have their reporting all over the place. No one wants yet another dashboard to log into. However, it can prove a great way to double-check your data and access data you may not have been able to on other platforms. Consider if the data available to you through your reporting is leading you to actionable insights. If not, let’s take steps to fix that so that your marketing can be precisely where it needs to be.
