Apartment Marketing: Measuring web traffic conversion.

January 13, 2010
By

Over the past couple of weeks the conversation on Apartment Marketing Gone Digital, which is a weekly Pod Cast with a handful of us in the industry every Tuesday evening, has started to drill down into how we are, or how we aren’t measuring web traffic conversion on our apartment community web sites. Our sense is most apartment operators have no clue what their conversion numbers are, or even where to start to establish what the metrics should be.

Do You Know Your Numbers
It seems like there is consistent industry agreement on a couple of key leasing ratios and conversions, those being;
  1. Traffic to Tour Conversions
  2. Tours to Rental Conversions

And, even if the data is wrong, most property management companies think they know where the source of where the traffic is coming from. So there you have it, to increase rentals, just buy up more stuff from the highest producing traffic sources right? We think there is a better way, by Moving the Google Needle, and Enhancing Your Google Page Ranking, Increase your web traffic, and leasing traffic will follow proportionately.

Your Web Site
But what about your web site, and maybe you have just launched a blog, and what if you are now active on twitter, and also have a facebook fan page, what are those numbers, and how do they fit into the metrics you need to measure.

Arguably your blog, twitter and facebook could
be deemed social media marketing, soft marketing, relationship marketing or whatever the buzzword of the day is. I suggest the follow view.




Lead Them Through the Tunnel
We view our Social Media Marketing efforts as a conduit to tunnel the prospect to our website. For us, nothing happens, meaning we aren’t renting an apartment until we secure a Guest Card.
What Are Your Web Site Numbers
  1. Are you paying much if any attention to your web site traffic?
  2. Do you know your the basic web site numbers, Monthly Visitors and Monthly Page Views
  3. How often do you check your web site analytics?
  4. Do you know where you show up on a Google Page Rank?

Before we dive into the whole conversion conversation, these basic metrics must be established and maintained

Eric’s background is rooted in the rental and real estate industries. He founded metro Detroit’s Urbane Apartments in 2003, after serving as senior vice president for a major Midwest apartment developer. He established a proven track record of effectively repositioning existing rental properties in a way that added value for investors while enhancing the resident experience.

He also established The Urbane Way, a social media marketing and PR laboratory, where innovative marketing ideas are tested. Eric has been featured in Entrepreneur Magazine and Business Week Magazine.

You can connect with Eric_Urbane on Twitter.

Eric also writes regular articles for the following publications;

Blog Traffic Exchange Related Posts
  • More Web Traffic May Not Yield More Rentals We hold true to our long standing position that increased web site traffic has a direct correlation to increased physical traffic, as measured by guest cards. However, as we gain more clients, in many instances we are seeing significant increases in web traffic, but poor conversions from web traffic to actual rentals. There are......
  • blog traffic exchangeWhat Is The Value of Clicking Your Web Site First We posted about the new launch of Community Sherpa here a few days ago, and also over at Multifamily Insiders. Disclosure, I have no ties to Community Sherpa and have not tested the product. I am just delighted that someone has produced a product that they can actually sell. Again,......
  • Pictures Urbane Way 10-02-11Own Your Social Media Failure or Success We had a new client in the Urbane Lab recently that we had prepared a proposal for who was piping mad. As he read through our offering he commented that this is mostly the same as what the last "Social Media" shop promised, but didn't deliver. He was  pretty distraught with his......
  • Pictures Urbane Way Web TrafficHow Much Web Traffic Do You Need It is encouraging to see more and more apartment marketers giving attention to their web site traffic. We have a firm and proven belief that increased web traffic = increased physical traffic, meaning in the door leasing leads evidenced by increased Guest Cards. So if folks are finally paying much closer attention to web......
  • money1Convert Your Web Traffic Into Cash: Diving Into Affiliate Marketing, Subtly. After doing some research on how to monetazie a blog through affiliate marketing, it was finally time to take the plunge.  It's well known that many folks are making a living off their blog traffic, and part of that revenue comes from promoting other people's products and taking a cut......
Blog Traffic Exchange Related Websites
  • blog traffic exchangeSunday Roundup: Corporate Blogging, Web Traffic and SEO Tips Welcome to another edition of Buildify's roundup. We have more for you on best blogging practices, blogging tips, corporate blogging, gaining reader traffic and more. We hope you enjoy this little guide into a corner of the blogosphere. Tell us what you think or would like to see by leaving......
  • blog traffic exchangeRaising Internet Web Traffic Via Content There are many techniques that you should use for getting targeted traffic for your website. Bum marketing is one patients ways and in my view where everyone should start. The reason articles are this type important opportunity for increasing web traffic is because they really work! Should you be seeking......
  • Trends-in-Marketing (310 x 205)Driving Traffic to your Site with Article Marketing Once you have figured out how to create your own web page effectively, it is essential that you generate plenty of visitors to it and to achieve this you need to figure out efficient and effective ways to create huge interest to your website. There are several methods that......
  • blog traffic exchangeThe Key At The Rear Of Online Marketing Online Using the improvements within technology relating to the web, Make Money with Internet Marketing has taken the planet through surprise. For novices within this wonderful realm of online marketing, sometimes a boost is needed to get business occurring plus some cash landing inside your PayPal accounts. Using the right......
  • More Web Traffic May Not Yield More Rentals We hold true to our long standing position that increased web site traffic has a direct correlation to increased physical traffic, as measured by guest cards. However, as we gain more clients, in many instances we are seeing significant increases in web traffic, but poor conversions from web traffic to actual rentals. There are......
  • Multifamilypro

    Well said! That is why you are so awesome at Moving the Google Needle!

  • UrbaneWay

    Hey Tami, Thanks for stopping by. It seems the first order of business is to start to set up some basic metrics of measurement, and start to figure out where we are, however, apartment executives have to decide that their web site traffic IS important.

  • Annette Mahon

    Very intersting article

  • jenken27

    Well said! These are important questions to answer so that resources are allocated properly to the numerous outlets at our fingertips. I want to see who is winning overall. Will it be the ILS, Organic Searches, or Social Media????

  • Keith Caven

    Without a doubt Eric – Organic Search Engine Optimization!!! Done properly, the most effective cost per lead and lease in the business.

  • UrbaneWay

    Jennifer, Thanks for stopping by.I am looking forward to getting your article up tomorrow, and the conversation that will follow,

  • UrbaneWay

    Jennifer, Thanks for stopping by.I am looking forward to getting your article up tomorrow, and the conversation that will follow,

  • Mike Whaling

    Eric, first thanks for the mention of the podcast. It's always a compelling discussion … I'm glad we're able to share it.I think there are really two questions here: 1) How are you driving traffic to your site? and 2) Do you know what people do once they get there? I absolutely agree with you that there are more ways than ever to get your content out there and drive traffic back to your site. However, I think one thing that many people forget about is how to improve conversions once you get that traffic to your site. As we've discussed before, Google provides a lot of different ways to measure how visitors are moving through your site — looking at conversions based on the referring site is a great way to tell whether the traffic from an ILS or your Facebook page is converting at the rate you want. Which source converts better? Do you even know?We spend a lot of time looking at the various ways we can lead the horse to water, and probably not enough time getting the darn thing to take a drink.

  • Keith Caven

    Hey Eric – glad to hear we share that in common about SEO. When measuring web conversion metrics – it's very important to understand how they effect your bottom line. In helping our clients, the first thing we do is understand that correlation, then back in the consumer intelligence tracking to know EXACTLY what those conversion metrics are powered with through each company's unique operational business rules. The flow of your tracking or formula you should consider when looking for web conversion is this … Data > Information > Knowledge > Action > Profit. Most companies I know in the industry are still in operating the first two categories of the process.

  • UrbaneWay

    Hi Keith,Thank you for stopping by. As a whole our industry isn't grasping the overall impact of web traffic in general, so some of this will move slowly, however the starting metrics need to be established.Thanks for your insight

  • UrbaneWay

    Hey Mike,There are so many things to sort out here, but at the same time, not really, meaning we can get to some basic benchmark metrics pretty fast. Getting folks in our industry to agree on what they are even measuring may prove challenging

  • Mike Whaling

    Absolutely. I don't mean to overcomplicate this, because there are only a couple of core things that we really need to watch. If you know where the best traffic comes from and what they do when they get to your site, you're miles ahead of most of the competition.

  • coco1212

    Web metrics seem so difficult at first, thanks for your guidelines.