Track Calls to Leases in 3 Easy Steps

Find out which ad sources are working for you and those you shouldn’t waste your money on.
August 9, 2018
Marketing

Quick, which ad sources generate the most calls to your multifamily property? What about prospects? Leases? If you don’t know, you could be wasting money on advertising that isn’t paying off. Or you could be leaving money on the table by not allocating more dollars to ad sources that are giving you great returns on investment. 

Follow these three steps to learn exactly where you should be spending your advertising budget next month.

Step 1: Implement Call Tracking with DNI

Good analysis begins with good data. Knowing whether a prospect learned about you from an ad or by word of mouth isn’t enough. You need to know exactly which online ad sources are generating calls. But in the age of fleeting attention spans, asking prospects how they heard about you is unreliable and inefficient—who remembers what they clicked on five minutes and 10 webpages ago?

That’s why Dynamic Number Insertion (DNI) is so important. It assigns a unique phone number to each online ad source—whether banner ad, Google, Yelp, Apartments.com or anywhere else you advertise—and then displays that phone number on your website to the visitor. That way you know exactly which ad source drove them to your website and what ultimately made them pick up the phone and call you.

 

Step 2: Separate Prospects from General Call Volume

To avoid skewed data and get a true picture of ad effectiveness, next you’ll need to filter out non-prospect calls. Divide calls into two categories: prospects and non-prospects. Non-prospects include residents, vendors, employees and any others who may call in on your advertising numbers. Then, filter out the calls from non-prospects to get a true idea of which ad sources are generating leads rather than just calls.

 

Step 3: Match Caller Data to PMS Leasing Data

Knowing which ad sources are generating the most calls and prospects is great, but what you really want to know is which ones are converting to leases. But not all leads sign leases the same day, week or month. So how will you know if a lead ultimately became a lease?

With LeaseTrace, data from your Property Management System (PMS) and LeaseHawk’s LeadScore tool is combined to trace a signed lease back to the first call coming in through a LeaseHawk tracking number. Here’s how it works:

  • ‍When a lease is signed, LeaseTrace matches lease information to prospect calls by scanning all prospect calls from the last 90 days.
  • ‍LeaseTrace then identifies the most recent prospect call received and the information from the lease is matched to the prospect’s most recent call.
  • ‍Finally, LeaseTrace identifies the original call and ad source, giving you visibility into which ad sources are generating leases.

 

Want to learn more? Visit leasehawk.com/hawkeye.

 

Learn More

Ready to see LeaseHawk in action?

Fill out this form to learn more.

Related Posts

Marketing

Apartment Marketing Plan for Leasing Success

Whether you’re marketing a new lease up or trying to fill vacant units, you need to have a solid plan that includes identifying the technology that can help boost your success. Learn 4 tips that can help you optimize your apartment marketing plan.

August 16, 2018
Marketing

Budgeting for Artificial Intelligence in 2020

It’s budget season! Trends are continuing to evolve in the multifamily industry and it’s time to plan ahead for your AI investment. Use this guide to help you start the process to getting your team on board to fit AI into your 2020 budget.

August 16, 2018
Marketing

Lead Scoring 101: How to Prioritize Follow-Up Activity

Learn the basics of lead scoring! You’ll be surprised at how a simple lead score for each of your phone calls can unlock a wealth of knowledge to reveal your most effective ad sources and organize your leasing team’s follow-up activities.

August 16, 2018
People

3 Customer Service Myths Every Leasing Office Should Know

Are you guilty of believing these three customer service myths? Learn what they are and how you can overcome them, so your leasing teams can perform at their best.

September 20, 2019
Marketing

Apartment Marketing Plan for Leasing Success

Whether you’re marketing a new lease up or trying to fill vacant units, you need to have a solid plan that includes identifying the technology that can help boost your success. Learn 4 tips that can help you optimize your apartment marketing plan.

September 12, 2019
News

LeaseHawk Launches Artificial Intelligence (AI) Solution to Measure Leasing Agent Performance

LeaseHawk has expanded its AI platform to include Agent AI. The Agent AI solution measures leasing agent call performance on all first-time prospect calls. This enables management companies to quickly identify gaps in leasing agent performance and reduce their dependency on costly phone shops.

August 26, 2019

Join Our Newsletter

Get the latest multifamily news, how-to's, infographics and more delivered right to your inbox.