Property Management Marketing Data Analysis Paralysis
Feeling overwhelmed by property management marketing data analysis? It’s a mouthful.
There are literally hundreds of data analysis reporting tools designed to help you get smarter about your property management business and how it’s performing. All of them say that they will provide you with key information that you need to know right now.
The reality is, they’re probably right, and they probably can get you the information you need.
BUT, if you’re using even half of this tool sweep, the amount of data that you’re swimming in is probably overwhelming. It might be difficult to understand which data elements are the most important points to help you make actionable decisions for your business.
So, the real question is: What data is the most important to you right now when you’re growing your property management business?
At Fourandhalf, we are big believers in using data to understand and drive your business. Having data at your fingertips is great, but really analyzing that data and synthesizing it into something that’s meaningful and actionable can quickly become a nightmare. To help you sift through that large pool of data, we’re offering three rules that will help you find the information that you really need to drive your decision making.
Property Management Marketing Data Analysis:
1. Consider the Outcomes and Intentions
Ask yourself what outcome you’re looking for, and think about the specific clients you’re trying to attract.
If you’re trying to be all things to all people, you may find that you’re attracting clients from locations that you’re not interested in serving. As a result, you could find that the benefits of your data collection are going south. Alternatively, once you’ve narrowed down who your “ideal client” is, you can focus on data that provides you information on that specific demographic.
You want to use data that speaks to your performance in exact locations and with specific pools of clients.
2. Identify the Ideal Client’s Pain Points
Next you need to determine which pain points you’re hoping to address for the clients you want to attract.
If the clients you’re hoping to bring in are primarily concerned with trust and making sure tenants aren’t going to trash their homes, then you need to focus on the data that speaks to your reputation. How is your website performing on matters that pertain to trust? Are you managing your reviews?
3. Keywords and Search Terms
You need to look into what combination of data elements will provide the best information that you want to zone in on.
Look at keywords and search term results.
You want to be aware of where your leads are coming from on your website. If you are performing well for certain keywords, you need to know what page those are being channeled from for website leads. In addition, check your form submission data and how it relates to keywords. This will tell you a lot more than you would learn by simply looking at one or the other. Sometimes, the power and effectiveness of your search terms working together with other factors on your website influence your results.
How Fourandhalf Helps You Analyze Property Management Data
Those are three ways of looking at data while sifting through all the information you have. The goal is to make connections. When you can look at the questions you want to answer and not just jump into the sea of data you have in front of you, it’s easier to find meaningful connections.
Put together the questions and the outcomes you are looking for, and then look at the data that will address those outcomes.
Another way to maximize your data and its meaning is by working with someone who knows how to analyze data. At FourandHalf, our account managers put together a continuous improvement report based on the data that tells your story.
Have questions about how this could work for your business? We’d be happy to tell you more, so don’t hesitate to contact us at Fourandhalf.