People ask us all of the time what sort of return they should expect on their advertising investment with one of our websites. The honest truth is that many of our clients choose not to share that type of data with us. Perhaps they want to keep our leads for themselves, or maybe they're worried that we might raise their prices. Every once in a while, a client will share some of their good news with us.
I literally just received a phone call from the marketing director for one of our largest clients. She was in the midst of preparing an owner presentation for one of her communities. This was the data that she uncovered and shared:
SwampRentals.com generated 55 leads in the first 5 months of 2015 for this community.
- Their closing ratio on the leads we generated: 22%
- Projected revenue on these leases: $86,400.
- Their investment: $2,495
- Cost per lease: $207.91
- Return on investment: 3,362%
To put this in perspective, this marketing manager reported that a very well respected, nationally-known ILS generated the following stats for the same period:
- 55 leads
- 1 lease signed
- Closing ratio: 1.8%
The difference? This community's closing ratio was 1,122% higher when working with leads from SwampRentals.com compared to the national source.
What does this mean for apartment managers?
The first question they ask our team is "How many leases did you send my community?" My strong suggestion is that they start asking: "How many leases did you help my leasing team sign?" Please think about the cost of labor to answer those leads as well.
What does this mean for leasing agents?
My answer is more of a request. Please answer these leads as quickly as possible. We have put a lot of effort into sending you the most qualified traffic possible. Every second a prospect waits will shave points off of a leasing team's closing percentage.