The power of leasing remains with integrated media
"We track our lead generation," says Peggy Hale, director of sales, marketing and training for Morgan Properties of King of Prussia, Penn., ranked 30th largest multifamily owner/operator in the country with 31,238 units. "During Q1 2008, we found that 87 percent of all new prospects made their initial contact with us through the Internet." She shares how this information was beneficial in optimizing her 2009 Apartment Guide print strategy to more effectively integrate with other marketing, including Internet and mobile solutions.
"First quarter results showed that our Apartment Guide print buys were generating leads, and drew even stronger results when combined with other Internet-based products. In combination, they are our number one source of leads. At 33 percent, they also deliver a higher lead-to- appointment conversion than any other paid source."
It's a welcome testament for multifamily's integrated media companies Apartment Finder, Apartment Guide and For Rent Media Solutions, especially these days. Sweeping budget cuts often go unchecked, without the most basic tracking or due diligence as to its affect on lead traffic.
Tom Toomey, president of country's 20th largest REIT, UDR, fueled the Is print dead discussion in Fall of 2007. He issued
