Which KPIs Should Marketers Pay Attention To?

As the real estate market continues to adapt to new technologies and shifting consumer behaviors, understanding the right KPIs is crucial for success. Erica Sachse, co-founder of Powered by DMT, talked to Multi-Housing News about the most important metrics that can help marketers not only track their performance but also drive strategic decisions and achieve their business goals.

What KPIs do you consider most critical presently in evaluating the success of your marketing campaigns? How do you prioritize these KPIs, and why?

Sachse: The most critical KPIs we focus on when evaluating the success of our marketing campaigns include lead quality, engagement and ultimately the number of units sold or leased.

We prioritize generating high-quality leads over sheer quantity since it’s essential to attract qualified buyers or renters. By focusing on this, we ensure that our campaigns target the right audience and maximize our conversion potential.

Another metric we track is engagement, such as website visits and inquiries generated through our campaigns. These metrics help us understand what messaging resonates with our audience and allow us to identify any pain points, so we can make adjustments early on to improve performance.

Our primary measure of success is the number of units sold or leased, as this ties directly to revenue outcomes. A campaign is truly successful when it transforms marketing efforts into measurable sales or leases, delivering concrete results that fuel growth and profitability.

How do you measure the effectiveness of your lead-generation efforts? What conversion metrics do you track from initial contact to lease signing?

Sachse: We utilize data, analytics and digital marketing from pre-development planning through sales and completion, bringing in better leads and accelerating sales processes.

By tracking movements on our digital assets, we can put together the story of a buyer from when they first interact with the property all the way through to when they close, which can be months or even years. We can see when prospects open our emails, visit our website, or even look at floor plans.

Using KPIs that assess resident satisfaction and retention, how can multifamily owners and operators incorporate feedback from current residents into their marketing strategy?

Sachse: Our primary focus is on new developments and rentals, but we recognize the power of storytelling in creating an emotional connection with our audience. Instead of simply listing amenities, storytelling allows us to convey how our properties enhance residents’ lives.

Sharing testimonials can highlight the unique benefits of living in our communities, offering genuine insights into the experience. These tenant perspectives are invaluable, as potential buyers often place more trust in the experiences of current residents than any other source.

Which digital marketing channels you’ve found to be most effective for multifamily properties?

Sachse: Social media is highly effective because it enables real-time interaction between buyers and agents, fostering a stronger relationship.

How do you leverage market analysis to shape your marketing strategies? Which KPIs help define the competitive position in the market?

Sachse: In a dynamic market environment, it’s important to harness data analytics and adeptly adjust pricing strategies, staying ahead of market trends and maximizing returns for clients.

Real estate is a notably antiquated industry that is slow to change, so the data that we aggregate is what really sets us apart, helping to reshape the way real estate is bought and sold.

How should marketers determine the budget allocation for different marketing activities? What KPIs help reach and maintain efficient use of marketing resources?

Sachse: It’s crucial to begin with a wide view of client goals and the state of the intended audience, which helps marketers understand the right channels to reach prospective buyers and where money should be allocated. Monitoring engagement and conversion rates will always be pertinent for determining what is resonating and what should be adjusted.

A balanced approach—grounded in data but flexible to adapt to changing market dynamics—can help achieve sustained marketing success.

Are there any new tools or platforms you’re excited about that will improve data analysis?

Sachse: We see new apps and tech platforms emerge daily. In a previous project, I used QR codes that lived on physical posters with hand-drawn sketches. In the current crowded landscape, it’s important to provide numerous touchpoints, both online and offline.

What are the biggest challenges in tracking and improving KPIs? How do you adapt your strategies when KPIs indicate underperformance?

Sachse: By consistently tracking metrics throughout a campaign instead of looking at numbers for the first time at the end of a project, you can flip challenges into opportunities for strategic differentiation and creative marketing.

Going back to the connection piece, marketers also need to remember that aspect when communicating with clients. The leasing and marketing process needs to focus more on personalization, creating a more elevated and humanized consumer journey.