Revenue Focused Marketing: A Must-Read Case Study
Peggy Hale is the Director of Sales and Marketing at Morgan Properties in King of Prussia, Pennsylvania. Like a Texas Ranger, she works without backup as the sole corporate marketing staffer. In 2007, when Morgan doubled in size from 16,000 units to 32,000 units in a single acquisition, the company decided to put a heavy emphasis on operational best practices. With a doubled workload, Peggy needed scalable help to manage their customer relationships and to collect the necessary data to understand which marketing efforts improved NOI.
WHAT THEY DID:
“Morgan Properties decided to hire Level One‘s leasing call center to handle 100% of our sales calls” says Hale. “All traffic is sent directly to their marketing lead management specialists.” From early data, Morgan Properties found out:
- That 85% of renter prospect traffic came from Internet sources
- By taking calls at all hours, not just during business hours, captured leads increased by 35%
- Accurate data helped them understand what type of media worked best in each market
- They were able to save $300,000 per year by optimizing and re-allocate their advertising spending in just four markets
WHY IS THIS IMPORTANT?
Right now, times are tough for multifamily and the stakes are high. As a result, everyone connected to marketing should consider using these two principles to guide their marketing efforts:
- Marketing should be statistically or objectively measured and managed.
- Use marketing data to drive incremental revenue by bringing in more renters on the margins.
LEARN HOW YOU CAN:
Join us at the AIM 2009 Conference where Peggy Hale will be presenting a case study on Morgan Properties’ experience, and discussing how a call sales center helped the marketing efforts of a single person can create significant yield.
Need to know more about generating revenue through marketing (and everything else online)? The AIM Conference is your event. April 29 – May 1, 2009 at the Denver Marriott City Center. Hurry, the early registration is only $525, but it ends on December 31.
Tags: call center, internet advertising, morgan properties, performance
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