Managing and Rationalizing  Your Organization’s Marketing Spend
Topics <ul><li>How to Manage and Track Marketing Spend </li></ul><ul><li>Data Collection and Rationalization </li></ul><ul...
Manage Marketing Spend Can you track your organization’s marketing spend easily? <ul><ul><li>By Vendor, by package </li></...
Process to gather the Marketing Spend data: Manage Marketing Spend, con’t <ul><li>National Vendors Billing Reports </li></...
Example of Database Elements Data Fields: <ul><li>Property Name </li></ul><ul><li>Vendor Name, type of advertising (nation...
<ul><li>GL Code (where cost are coded) </li></ul><ul><li>Phone Number on Ad </li></ul><ul><li>Where Phone number is routed...
Marketing Performance Metrics Once you have the marketing spend organized, how do you rationalize and apply performance me...
High Level Customer Acquisition LifeCycle <ul><li>Visit </li></ul><ul><li>Credit Decline /Accepts by Vendor </li></ul>Wher...
So What? 90-120 day vendor performance data   +  next 90-120 day new lease goals   =  Future forecast of leads and cost pe...
Sample Marketing Plan Template
More Realistic Marketing Plan Template
Wrap – Up <ul><li>Ensure that your organization is tracking, coding and organizing advertising expenses consistently:  </l...
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Managing and Rationalizing Your Organization’s Marketing Spend - Peg Hallberg

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Peg Hallberg's presentation at the Apartment Internet Marketing Conference April 2008.

Published in: Economy & Finance, Business
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Managing and Rationalizing Your Organization’s Marketing Spend - Peg Hallberg

  1. 1. Managing and Rationalizing Your Organization’s Marketing Spend
  2. 2. Topics <ul><li>How to Manage and Track Marketing Spend </li></ul><ul><li>Data Collection and Rationalization </li></ul><ul><li>Marketing Plan Example </li></ul>
  3. 3. Manage Marketing Spend Can you track your organization’s marketing spend easily? <ul><ul><li>By Vendor, by package </li></ul></ul><ul><ul><li>By type of Advertising (print, web, broadcast) </li></ul></ul><ul><ul><li>By GL account </li></ul></ul><ul><ul><li>Spend by Quarter, by year </li></ul></ul><ul><ul><li>Contract terms </li></ul></ul>Is it accurate?
  4. 4. Process to gather the Marketing Spend data: Manage Marketing Spend, con’t <ul><li>National Vendors Billing Reports </li></ul><ul><li>Local Marketing Initiatives - GL accounts </li></ul><ul><li>Assign each vendors/ad sources to specific GL accounts </li></ul><ul><li>Property Management Operating System </li></ul><ul><li>Future - Secure or Build central database where all media purchases are recorded </li></ul>
  5. 5. Example of Database Elements Data Fields: <ul><li>Property Name </li></ul><ul><li>Vendor Name, type of advertising (national, local, web, print) </li></ul><ul><li>Package Details </li></ul><ul><li>Insert Date </li></ul><ul><li>Contract End Date </li></ul><ul><li>Cost Per Month </li></ul>
  6. 6. <ul><li>GL Code (where cost are coded) </li></ul><ul><li>Phone Number on Ad </li></ul><ul><li>Where Phone number is routed to </li></ul><ul><li>Who ordered/approved advertising </li></ul><ul><li># of leads generated (vendor uploaded or manually entered) </li></ul><ul><li>Cost Per Lead </li></ul>Example of Database Elements, con’t Data Fields, con’t:
  7. 7. Marketing Performance Metrics Once you have the marketing spend organized, how do you rationalize and apply performance metrics? It Depends……. How do you define customer driven actions? What customer actions can you track?
  8. 8. High Level Customer Acquisition LifeCycle <ul><li>Visit </li></ul><ul><li>Credit Decline /Accepts by Vendor </li></ul>Where to get data <ul><li>Vendor </li></ul><ul><li>PMC Internal Tracking Process </li></ul><ul><li>Vendor Reports </li></ul><ul><li>PMC Operating System </li></ul><ul><li>Vendor Reports </li></ul><ul><li>800# tracking </li></ul><ul><li>Vendor </li></ul><ul><li>PMC Operating System </li></ul><ul><li>PMC Operating System </li></ul>Metrics <ul><li>Phone lead </li></ul><ul><li>E-mail Lead </li></ul><ul><li>Walk In Lead </li></ul><ul><li>Eyeballs </li></ul><ul><li>Ad View </li></ul><ul><li>Ad Impression </li></ul><ul><li>CTR </li></ul><ul><li>Site Navigation </li></ul><ul><li>Lease </li></ul>Customer Views Property Ad Customer Contacts Property Customer Visits Property Customer Decision Property Ad Lead Visit Decision Customer Lifecycle
  9. 9. So What? 90-120 day vendor performance data + next 90-120 day new lease goals = Future forecast of leads and cost per lead! Inquiry/lead forecast is the leading indicator of future revenue and occupancy! Are there enough leads?
  10. 10. Sample Marketing Plan Template
  11. 11. More Realistic Marketing Plan Template
  12. 12. Wrap – Up <ul><li>Ensure that your organization is tracking, coding and organizing advertising expenses consistently: </li></ul><ul><ul><li>Expense by vendor, by package </li></ul></ul><ul><ul><li>Expense by type </li></ul></ul><ul><ul><li>Expense by time period </li></ul></ul><ul><li>Determine what metrics to be measured - bottom’s up perspective </li></ul><ul><ul><li>Cost Per Action </li></ul></ul><ul><ul><li>Cost Per Lead </li></ul></ul><ul><ul><li>Cost Per Lease </li></ul></ul>Once you have your expenses organized, then you can measure customer acquisition metrics and build property specific marketing plans!

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