Resolving the Data Controversies<br />Moderator:<br />Jim Kjolhede, Satteron Enterprises<br />Panelists:<br />David Seiler...
Opening Comments<br />
Resolving the Data Controversies(Lead Attribution)<br />Presented by David Seiler<br />Executive Vice President<br />Trini...
Discussion<br /><ul><li> Gathering Marketing Data – Then and Now
 Current Solution
 Reports, Assumptions, and Analytics
 New Dynamic & Solutions</li></li></ul><li>Gathering Marketing DataThen – The Guest Card<br />
Gathering Marketing DataNow – The Pop Card<br />Traffic Source is Hard Coded<br />
Gathering Marketing Data<br />VS. <br />					Pop Card<br /><ul><li>The Source is hard coded into the contact based on a tr...
System Generated Tracking up to 4 points of contact from different sources
Fully integrated w/ PMS for more accurate data and reporting.  </li></ul>Guest Card<br /><ul><li>Identifying the source is...
Mostly only 1 source is identified and tracked
Manually entered into Property Management System</li></li></ul><li>Call Tracking Provider<br />Tracking phone and email ad...
Call Tracking Provider<br />Call recording and e-mail follow up are captured on each Pop Card providing data validation an...
Report and Analyze<br /><ul><li>Dashboard
Prospect Reports
    Active Prospects
    Inactive Prospects
    Customer Records
    Incoming Traffic Logs
    Activity Logs
Performance
     Prospects Created
     Referrals
     Tours
     Rentals
     Wait List
Trend Reports
   Traffic (Summary)
     Leads By Day
Leads By Hr (Bus Hrs)
     Leads By Hr (After Hrs)
     Leads By Mo (Last 12 Mos)
     Leads By Mo (Last 18 Mos)
Performance
     Tours By Day
Campaign Reports
   Traffic (Detail)
     Leads
     Leads Per Day
     Leads Per Hr (Bus Hrs)
     Leads Per Hr (After Hrs)  </li></ul>Performance <br />     Appointments <br />     Tours <br />     Rentals <br />   ...
Report and AnalyzeTrinity Property Consultants Q1 2011<br />Community Website<br />Numbers are based on 55 communities acr...
Report and AnalyzeTrinity Property Consultants Q1 2011<br />Community Website<br />Lease are attributed to 1st contact.  N...
Variables to AssumptionsThe 80/20 Effect <br />Active ads must have an active tracking phone number and/or e-mail <br />No...
New Dynamics<br />Multiple Sources<br />Tracking Vendor can now attribute up to 4 sources to one prospect <br />Lost In Th...
Google Analytics <br />Installing Google Analytics allows us to have greater visibility into traffic behaviors on our Comm...
Google Analytics <br />With data from GA we are able to make smarter choices about website design, optimization, and funct...
Google Analytics <br />Together with Tracking Vendor we have great insight into where traffic is generated.<br />
Summary<br />Lead tracking and lease attribution is not an exact science. Outside forces and changes in the market, pricin...
Questions / Comments<br />
THANK YOU!!<br />
Resolving the Data Controversies Part II(Lead Attribution)<br />Presented by Darcey Forbes<br />Director of Marketing<br /...
 Surf’s Up : Finding the Right Wave of Success <br />Reviewing Lead Performance: <br />If you’re going to do it, do it rig...
How To Make The Right Marketing Decisions<br />Learning the hard way, some things to avoid<br />How Essex makes marketing ...
Learning The Hard Way – Some Things To Avoid<br />
The Magic Eight Ball Approach<br />
#FAIL <br />
Learning The Hard Way, Some Things To Avoid<br />Don’t rest on faulty data pulled from the wrong places<br />Don’t assume ...
How Did We Feel About Our Data Woes? <br />Essex Offices 2009 <br />
Don’t Rest On Faulty Data Pulled From The Wrong Places<br /><ul><li>Even with:
A centralized management structure and dedicated marketing team
Call Center handling all phone calls and emails
Automatic data insertion into PMS
Intense on-going training at the site level
A lease report pulled from PMS can still be misleading</li></li></ul><li>Don’t Assume Your G.L. Accounts Hold Your Marketi...
Services that are harder to use cost more as they waste valuable time, they cost you time and therefore money
Free services, such as Craigslist, take time to use, they cost you time and therefore money</li></li></ul><li>How to work ...
Don’t Set It And Forget It… Measure, Measure And Measure Again<br /><ul><li>Prospect behavior, websites, search engines an...
The cost per contactor for one property, on the same ILS, within one year, can fluctuate by more than 400%</li></li></ul><...
How Essex Makes Marketing Decisions Today<br />
How Essex Makes Marketing Decisions Today<br />Make sure the data is accurate, complete and consistently measured<br />Foc...
Data From ILS Analysis<br />Phone<br />Email<br />From the ILSs<br />All Raw Leads<br />2,511<br />4,038<br /><ul><li>Make...
Focus on a few consistent metrics acrossall ad sources
Trust the data</li></ul>2.9%<br />1.7%<br />From matching process<br />69<br />Total Leases:<br />73<br />From matching pr...
A brief history of tracking<br />
Moving Forward With Confidence<br />
Get Accurate Data And Really Use It <br />Make sure the data is accurate, complete and consistently measured by avoiding d...
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Resolving the Data Controversies - 3 Presentations

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Resolving the Data Controversies

Since marketers started counting page views and clicks, owners, ILS sites, lead trackers, call centers and others have disagreed about where traffic comes from, what gets counted and what the implications are. We’re going to ask an owners who care about precision to address: persistent attribution errors, shifting definitions of metrics, and the structural problems inherent in using data from different sources to draw conclusions. Our hope is to end some of the whispering campaigns and get some clarity on at least some basic measures of advertising effectiveness and where the data should come from, and how analyzed.

- Darcey Forbes, Director of Marketing, Essex Property Trust

- David Seiler, Executive Vice President, Trinity Property Consultants

- Matthew Kilmurry, Director of Interactive Marketing, The Bozzuto Group

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  • Catching the wave of effective lead performance and not wasting valuable dollars for your communities. We have so much information at our fingertips it can make it difficult for anyone to determine what is the best information and what is your top performing advertisers. (TRANSITION)
  • Today we are better equipped and more well informed with the data we have in hand. But the complexities of this data, the amount of information we collect can be confusing and daunting for anyone to digest. We need to find a better way of analyzing and funneling the data to our advantage. And there are valuable resources out there to assist in our needs. At Essex we review the data we have with our call center and MTS (Define) Today I am going to briefly share with you some of these ideas.
  • Before we can tell you how we make decisions today we need to reflect on how we made decisions in the past. Let’s take a look. Multiple studies have shown that answering these questions by extracting data from propertymanagement systems can provide misleading, inaccurate data, which can damage the efficiency of amarketing campaign. Several independent studies have shown that data concerning advertising sources held withinproperty management systems can be wildly inaccurate. A study by LevelOne suggested that even companies using acall center, with dedicated tracking numbers and email addresses, will only accurately record the advertising source ofthe lease in 30% of cases.
  • Or the old stand by…tell us how you heard about us. Which has been proven to a #FailMultiple studies have shown that answering these questions by extracting data from propertymanagement systems can provide misleading, inaccurate data, which can damage the efficiency of amarketing campaign. Several independent studies have shown that data concerning advertising sources held withinproperty management systems can be wildly inaccurate. A study by LevelOne suggested that even companies using acall center, with dedicated tracking numbers and email addresses, will only accurately record the advertising source ofthe lease in 30% of cases. Even in our recent review cost per lead and lease analysis we found that we were slightly better with a 76% matching rate. Which has improved over the years with the assistance of a call center.
  • So which is the right path? Well, that will be up to you but today I can speak of the path we have chosen.
  • It’s all about finding the right focus for you and your company and coming u wotha strategy of analysis that you can focus on reliable data, and streamline all of the information and reporting that you have at your fingertips.
  • Prospects will typically find your site through multiple sources prior to contact.
  • Resolving the Data Controversies - 3 Presentations

    1. 1. Resolving the Data Controversies<br />Moderator:<br />Jim Kjolhede, Satteron Enterprises<br />Panelists:<br />David Seiler, Trinity Consultants<br />Darcey Forbes, Essex Property Trust<br />Matthew Kilmurry, The Bozzuto Group<br />
    2. 2. Opening Comments<br />
    3. 3. Resolving the Data Controversies(Lead Attribution)<br />Presented by David Seiler<br />Executive Vice President<br />Trinity Property Consultants<br />
    4. 4. Discussion<br /><ul><li> Gathering Marketing Data – Then and Now
    5. 5. Current Solution
    6. 6. Reports, Assumptions, and Analytics
    7. 7. New Dynamic & Solutions</li></li></ul><li>Gathering Marketing DataThen – The Guest Card<br />
    8. 8. Gathering Marketing DataNow – The Pop Card<br />Traffic Source is Hard Coded<br />
    9. 9. Gathering Marketing Data<br />VS. <br /> Pop Card<br /><ul><li>The Source is hard coded into the contact based on a tracking phone number or e-mail
    10. 10. System Generated Tracking up to 4 points of contact from different sources
    11. 11. Fully integrated w/ PMS for more accurate data and reporting. </li></ul>Guest Card<br /><ul><li>Identifying the source is suggestive / open to employee and prospect interpretation
    12. 12. Mostly only 1 source is identified and tracked
    13. 13. Manually entered into Property Management System</li></li></ul><li>Call Tracking Provider<br />Tracking phone and email addresses deposits marketing intelligence into 1 comprehensive reporting platform <br />
    14. 14. Call Tracking Provider<br />Call recording and e-mail follow up are captured on each Pop Card providing data validation and training opportunities<br />
    15. 15. Report and Analyze<br /><ul><li>Dashboard
    16. 16. Prospect Reports
    17. 17. Active Prospects
    18. 18. Inactive Prospects
    19. 19. Customer Records
    20. 20. Incoming Traffic Logs
    21. 21. Activity Logs
    22. 22. Performance
    23. 23. Prospects Created
    24. 24. Referrals
    25. 25. Tours
    26. 26. Rentals
    27. 27. Wait List
    28. 28. Trend Reports
    29. 29. Traffic (Summary)
    30. 30. Leads By Day
    31. 31. Leads By Hr (Bus Hrs)
    32. 32. Leads By Hr (After Hrs)
    33. 33. Leads By Mo (Last 12 Mos)
    34. 34. Leads By Mo (Last 18 Mos)
    35. 35. Performance
    36. 36. Tours By Day
    37. 37. Campaign Reports
    38. 38. Traffic (Detail)
    39. 39. Leads
    40. 40. Leads Per Day
    41. 41. Leads Per Hr (Bus Hrs)
    42. 42. Leads Per Hr (After Hrs) </li></ul>Performance <br /> Appointments <br /> Tours <br /> Rentals <br /> Rental Lead Attribution <br />Call Analysis <br /> Call Logs <br /> Minutes Of Use <br /> Call Duration <br /> Busy/RNA Per Hr (Bus Hrs) <br /> Busy/RNA Per Hr (After Hrs) <br /> Forwarded Call Summary <br />
    43. 43. Report and AnalyzeTrinity Property Consultants Q1 2011<br />Community Website<br />Numbers are based on 55 communities across 10 states. Not every community utilizes every source.<br />
    44. 44. Report and AnalyzeTrinity Property Consultants Q1 2011<br />Community Website<br />Lease are attributed to 1st contact. Not every community utilizes every source.<br />
    45. 45. Variables to AssumptionsThe 80/20 Effect <br />Active ads must have an active tracking phone number and/or e-mail <br />Non-contactors must be sourced correctly<br />All ads display accurate rental rates, specials, photos and amenities <br />Staff is properly trained in sales techniques and Pop Card management.<br />
    46. 46. New Dynamics<br />Multiple Sources<br />Tracking Vendor can now attribute up to 4 sources to one prospect <br />Lost In The Web<br />How do prospects find our community websites?<br />Where does internet traffic originate from?<br />
    47. 47. Google Analytics <br />Installing Google Analytics allows us to have greater visibility into traffic behaviors on our Community Websites, Mobile Websites and Community Blogs.<br />
    48. 48. Google Analytics <br />With data from GA we are able to make smarter choices about website design, optimization, and functionality. <br />
    49. 49. Google Analytics <br />Together with Tracking Vendor we have great insight into where traffic is generated.<br />
    50. 50. Summary<br />Lead tracking and lease attribution is not an exact science. Outside forces and changes in the market, pricing, advertisement presentation, consumer trends and advertising partners all force us to look at and overlay assumptions with alternative data. New tracking tools are constantly being developed. As long as the economic efficiencies that the data produces exceeds the cost to produce the data, we will continue to invest in the search. <br />
    51. 51. Questions / Comments<br />
    52. 52. THANK YOU!!<br />
    53. 53. Resolving the Data Controversies Part II(Lead Attribution)<br />Presented by Darcey Forbes<br />Director of Marketing<br />Essex Property Trust<br />
    54. 54. Surf’s Up : Finding the Right Wave of Success <br />Reviewing Lead Performance: <br />If you’re going to do it, do it right.<br />
    55. 55. How To Make The Right Marketing Decisions<br />Learning the hard way, some things to avoid<br />How Essex makes marketing decisions today<br />Moving forward with confidence<br />
    56. 56. Learning The Hard Way – Some Things To Avoid<br />
    57. 57. The Magic Eight Ball Approach<br />
    58. 58. #FAIL <br />
    59. 59.
    60. 60. Learning The Hard Way, Some Things To Avoid<br />Don’t rest on faulty data pulled from the wrong places<br />Don’t assume your G.L. accounts hold your marketing expenses<br />Don’t set it and forget it… measure, measure and measure again<br />Don’t jump the gun, leads take time to turn to leases<br />
    61. 61. How Did We Feel About Our Data Woes? <br />Essex Offices 2009 <br />
    62. 62. Don’t Rest On Faulty Data Pulled From The Wrong Places<br /><ul><li>Even with:
    63. 63. A centralized management structure and dedicated marketing team
    64. 64. Call Center handling all phone calls and emails
    65. 65. Automatic data insertion into PMS
    66. 66. Intense on-going training at the site level
    67. 67. A lease report pulled from PMS can still be misleading</li></li></ul><li>Don’t Assume Your G.L. Accounts Hold Your Marketing Expenses<br /><ul><li>G.L. account data is often not helpful because of missing data or because the billing period does not match to the dates a service was in use
    68. 68. Services that are harder to use cost more as they waste valuable time, they cost you time and therefore money
    69. 69. Free services, such as Craigslist, take time to use, they cost you time and therefore money</li></li></ul><li>How to work out what Craigslist is costing you..Not So Free<br />
    70. 70. Don’t Set It And Forget It… Measure, Measure And Measure Again<br /><ul><li>Prospect behavior, websites, search engines and even the seasons change your marketing effectiveness; your marketing decisions need to change with them
    71. 71. The cost per contactor for one property, on the same ILS, within one year, can fluctuate by more than 400%</li></li></ul><li>Don’t jump the gun, leads take time to turn to leases<br />* Sample from Essex Property Trust properties across a range of ad sources during 2010<br />
    72. 72. How Essex Makes Marketing Decisions Today<br />
    73. 73. How Essex Makes Marketing Decisions Today<br />Make sure the data is accurate, complete and consistently measured<br />Focus on a few consistent metrics across all ad sources for a fair analysis<br />Trust the data <br />
    74. 74. Data From ILS Analysis<br />Phone<br />Email<br />From the ILSs<br />All Raw Leads<br />2,511<br />4,038<br /><ul><li>Make sure the data is accurate, complete and consistently measured
    75. 75. Focus on a few consistent metrics acrossall ad sources
    76. 76. Trust the data</li></ul>2.9%<br />1.7%<br />From matching process<br />69<br />Total Leases:<br />73<br />From matching process<br />Total Matched Leases:<br />142<br />Total Cost:<br />$105,563<br />Total Cost per Matched Lease:<br />$743<br />
    77. 77. A brief history of tracking<br />
    78. 78. Moving Forward With Confidence<br />
    79. 79. Get Accurate Data And Really Use It <br />Make sure the data is accurate, complete and consistently measured by avoiding data pitfalls<br />Focus on a few consistent metrics across all ad sources for a fair analysis<br />Trust the data<br />
    80. 80. How to resolve conflicting data and make decisions<br />Summarize the data<br />Communicate the findings to all stakeholders<br />Implement changes to marketing spends based on the data<br />
    81. 81.
    82. 82. THANK YOU!!<br />
    83. 83. Resolving Data Controversies Part III<br />Matthew Kilmurry<br />Director of Interactive Marketing<br />The Bozzuto Group<br />
    84. 84. Let’s Start Downstream<br />
    85. 85. Property Management Systems<br />Rent Rolls and Pricing<br />
    86. 86. Customer Relationship Management (CRM)<br />Prospect Tracking and Data Extension<br />
    87. 87. Content Management Systems<br />Corporate and Property Websites<br />
    88. 88. Internet Listing Services<br />
    89. 89. Logo Overload<br />
    90. 90. Customer relationship management (CRM) is a strategy for managing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes — principally sales activities.<br />
    91. 91. Insight Into Bozzuto Lead Generation<br />
    92. 92. Percentage of Lead Type<br />Lead2Lease Portfolio<br />Bozzuto Portfolio<br />
    93. 93. Conversion Rates by Contact Type<br />* Data from 192,535 inquiries through Lead2Lease during the 3rd quarter 2010<br />
    94. 94. Matthew Kilmurry<br />
    95. 95. Matthew Kilmurry<br />
    96. 96. Matthew Kilmurry<br />
    97. 97. Unpacking the Data<br />
    98. 98. A CRM System is NOT an Ad Tracking System<br />
    99. 99. Swimming Upstream<br />
    100. 100. Typical Behavior During Research<br />Searching<br />Social Media<br />Internet Listing Services<br />Property Website<br />Bozzuto.com<br />
    101. 101. Sourcing Online Leads<br />Phone Call<br />Contact Form<br />Reservation (VaultWare)<br />
    102. 102. Inbound Calls Create New Guestcards<br />Matthew Kilmurry<br />
    103. 103. Dynamic Number Rewrite<br />
    104. 104. Reducing General Website Category<br />Apartment Ratings (11.1.10-4.29.11)<br />Phone Leads: 491<br />Walk In: 15<br />Email: 1<br />Leases: 7<br />Conversion Ratio: 1.38%<br />
    105. 105. Tracking Contact Form Submissions<br />Reservation<br />Contact Us Form (Bozzuto.com and Property Website)<br />Ad Tracking Solutions<br />
    106. 106. Click Thru Versus View Thru<br />Impressions: 1,021,385<br />Clicks: 2,894<br />Click Thru Leads: 145<br />Conversion Rate: 5%<br />View Thru Leads: 474<br />Percent View Thru: 75%<br />Total Leads: 619<br />Conversion Rate: 21%<br />
    107. 107. Click Thru Versus View Thru<br />Impressions: 2,162,284<br />Clicks: 4,097<br />Click Thru Leads: 146<br />Conversion Rate: 3.5%<br />View Thru Leads: 621<br />Percent View Thru: 80%<br />Total Leads: 767<br />Conversion Rate: 19%<br />
    108. 108. Installing Tracking Pixels on Listing Pages<br />
    109. 109. Multi-Touch Attribution Conversion Tracking <br />
    110. 110. Cookie Retention Rate<br />
    111. 111. Privacy Fears<br />
    112. 112. Cookies Are Everywhere<br />
    113. 113. Resolving Data Controversies<br />
    114. 114. How To Track Walk-Ins? RFID Chips Are The Future<br />Minimally Invasive<br />Scars Mostly Heal<br />
    115. 115. Matthew<br />Kilmurry.net<br />@MKilmurry<br />LinkedIn.com/In/MKilmurry<br />
    116. 116. THANK YOU!!<br />
    117. 117. Moderator Questions to the Panelists <br />
    118. 118. Audience Questions to the Panelists <br />

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