RentVision is more than just a marketing vendor—we're your dedicated partner. Every client of ours is assigned their own Marketing Advisor, who serves as their main point of contact to provide help with their website, digital advertisements, and more.
On top of that, another perk of working with RentVision is you can add one of our Strategic Advisors to your team. These individuals look at the bigger picture. Their job is to help communities establish and maintain a winning strategy for their marketing, occupancy, and revenue goals.
Strategic Advisors check in with clients on a quarterly basis to track their progress to see where things are going well, and what needs to be changed. In this video, Lucas, a RentVision Strategic Advisor, explains how these meetings go, and why they're such an important benefit for our clients. Follow along with the Q&A transcript below.
What should a new client expect when meeting with a Strategic Advisor for the first time?
Lucas: Really, we're seeking to learn more about the company and the community because every company is a little different in what their goals and objectives are. We need to understand things like what do they target for a target annual occupancy, what kind of turnover do they experience, are there unique things in their market that may make things a little more difficult? All of those things play into the marketing campaigns and strategy that we will roll out.
If a property is a lease-up situation, what do they want their leasing velocity to be? What is their desired occupancy they're trying to reach, and when are they trying to reach it? Without knowing that, we don't know what recommendations to make and how to help as we progress.
Could you please explain how you discuss digital ads with clients?
Lucas: With digital ads, our goal is to be as efficient and effective as we can with the budget we're given. We don't have a financial incentive to spend more money with Google—we don't take a percentage or anything like that. We're trying to find the most qualified traffic we can, and one of the key metrics we've created is Cost Per Minute.
A lot of times with Google Ads, people look at impressions, clicks, click-through rates and cost-per-click. All of those things are helpful, but by themselves, they don't really tell you whether or not a campaign is doing good. With Cost Per Minute, we look at how much it costs to get that visitor to your website, and once they're there, how much time they spend. If we're driving a bunch of people and they're really expensive to get to the website, and they're only spending 10 seconds on it, that's not qualified traffic. That's not going to be a really efficient way to use marketing dollars. That's a key metric we use to determine the effectiveness of different campaigns.
What other valuable information do clients get from meeting with a Strategic Advisor?
Lucas: One of the key things we created and use is the future occupancy calculation (or RentVision Occupancy). Naturally, communities and management companies have Leased, Occupied and Trending. They have all these different numbers that they look at. Really, what we did is really create one number that combines all those different metrics so they know in a few weeks what their occupancy is going to be.
By knowing what it's going to be, and what it should be, then we know whether it's going to be a problem. That helps us make proactive recommendations for the client. If we can be 3 weeks or 4 weeks ahead of a problem, a lot of times we can solve that problem before it actually becomes a problem. It's just super valuable for communities to help them avoid any vacancy issues, or at least any extended vacancy issues.