Communicating the value of your marketing to the C-Suite isn’t always easy, especially when it comes to proving the effectiveness of your efforts.
For a leg up, check out these highlights from our latest #AptChat, which focused on the questions senior leadership asks most, the metrics you’re reporting, and where you can turn for help. (Click on the links to jump straight to a specific question.)
- Q1: How much does your executive team focus on marketing? What marketing questions do they tend to ask most?
- Q2: What are the key marketing metrics you report to your C-suite? How often are you providing updates?
- Q3: What do you wish your executive team knew (or better understood) about marketing today, and where marketing is going?
- Q4: How can your vendor partners help you better communicate your marketing efforts? What data, reports, etc. would help most?
How much does your executive team focus on marketing? What marketing questions do they tend to ask most?
A1: The full team is very results oriented. Where are we seeing results? Is what we’re doing effective? #aptchat
— Khara (@leftnwrite08) August 9, 2016
@AptChat It depends on the campaign. Could be “likes,” could be responses, traffic, increased exposure. #AptChat
— Khara (@leftnwrite08) August 9, 2016
The best question we tend to get is: “What are you doing, and can you prove that it’s working?” #AptChat
— Khara (@leftnwrite08) August 9, 2016
@AptChat It’s a bit of both. i.e. a recent campaign increased Instagram following 3x, AND built our rep w/ our residents. #AptChat
— Khara (@leftnwrite08) August 9, 2016
@AptChat The right campaign gets you the right attention. The right attention depends on setting the right goals/target market. #aptchat
— Khara (@leftnwrite08) August 9, 2016
@AptChat @leftnwrite08 And they don’t see the value in a planned strategy. They don’t feel they’re “big enough.” #AptChat
— Mindy Sharp (@MsMin) August 9, 2016
A lot of smaller companies don’t focus on creating innovative strategies, just the ad in Rental Guides. #AptChat
— Mindy Sharp (@MsMin) August 9, 2016
@MsMin I think a number of mid-sized companies are in that position, too. When 2-3 people manage 40-60 properties, it’s gets tough. #AptChat
— Mike Whaling (@mwhaling) August 9, 2016
@mwhaling However, they could utilize their onsite talent more!!! Untapped resource ignored. #AptChat
— Mindy Sharp (@MsMin) August 9, 2016
@MsMin Maybe, but in most cases I’ve seen, we ask the onsite teams to do too much, and too many diff things they can’t know well. #AptChat
— Mike Whaling (@mwhaling) August 9, 2016
@mwhaling idk. I work w/lots of college kids who r pretty sharp on this who are bored and could do more. I hear ya! #AptChat
— Mindy Sharp (@MsMin) August 9, 2016
@AptChat I just did. Start with web design. Add on copy writing. Have them analyze results of marketing $$$, research comps 2 start #AptChat
— Mindy Sharp (@MsMin) August 9, 2016
@AptChat Since I put out fires, I get “What are you doing about . .” #AptChat
— Linda Hansen (@lmhans) August 9, 2016
What are the key marketing metrics you report to your C-suite? How often are you providing updates?
A2: We do prop performance reports that integrate a breakdown of planned action and results. What goals did you achieve this month? #aptchat
— Khara (@leftnwrite08) August 9, 2016
It’s not always easy to “evidence” a direct tie b/t marketing and ratios/waterfalls, but key to learn to see it when it’s there. #aptchat
— Khara (@leftnwrite08) August 9, 2016
What do you wish your executive team knew (or better understood) about marketing today, and where marketing is going?
A3: My last tweet. 🙂 “Evidence” isn’t always metricable. Engagement gets results, even when not directly measurable. #AptChat
— Khara (@leftnwrite08) August 9, 2016
@AptChat That every region and area is different. People respond to campaigns differently – One size doesn’t fit all. #AptChat
— Mindy Sharp (@MsMin) August 9, 2016
@AptChat That results take time. That SWAG should be included in the budget, that hosting events outside the property is marketing #AptChat
— Mindy Sharp (@MsMin) August 9, 2016
@AptChat I wish they could understand that marketing is always changing and we have to keep up to stay in business. #aptchat
— Jasmine R. Brooks (@jasminebrooks44) August 9, 2016
How can your vendor partners help you better communicate your marketing efforts? What data, reports, etc. would help most?
@AptChat They can usually give you a play-by-play on clicks on your ads, etc., tell you if it’s mobile lead, etc. & how many leased #AptChat
— Mindy Sharp (@MsMin) August 9, 2016
A4: I’d love a “word-of-mouth” metric. Tracking convos, mentions, etc. that happen off the page. #aptchat
— Khara (@leftnwrite08) August 9, 2016
i.e. I have a USPS “team” that spread the word about us, do a lot of “soft sells,” but it’s hard to track where that’s going. #aptchat
— Khara (@leftnwrite08) August 9, 2016
@30lines That’s a great idea! We’ll have to look at something like that for some partner businesses/vendors. #aptchat
— Khara (@leftnwrite08) August 9, 2016
@leftnwrite08 At least one PM system offers coupon codes for their websites now. Not hard to do through WordPress, either. Give it a shot!
— 30 Lines (@30lines) August 9, 2016
Our next #AptChat is slated for Tuesday, August 16, 2016 at 12 pm Eastern, and we’ll be discussing how to rebrand an asset. In the meantime, be sure to sign up for #AptChat updates to get these recaps and more delivered straight to your inbox!