3 Key Components to Improving Your Budget Success for 2019
Who loves budgeting season?
Anticipated each year, the month of August is where things can get overhwhemlingly busy in the world of apartment rentals, and the planning for the new fiscal year a little chaotic - but exciting!
If you are struggling with influencing decision makers to approve a new project for 2019, wondering if your decision is the “right move” for the company, or, ultimately, you’re needing some guidance to ensure your pitch possesses the power to ensure success for the new year, you’re in the right place. We’ve outlined some of the most important items to speak to when planning your budget for the new fiscal year. Upon deciding to focus on just three key points for your budget breakdown, you’ll find you’re able to make some big differences for your company in 2019.
1. Know the performance of your various advertising sources.
It is important to know how each of your advertising sources are performing for your different properties. Do you know your cost per lead? Are you aware of which advertising sources are bringing in the most qualified leads, resulting in the most leases? There are automated solutions available for tracking this data, so that your money spent on advertising can be allocated appropriately. Learn about integrating call, email, and SMS tracking into your advertising to uncover what is performing best for your portfolio.
2. Ensure you are capturing the highest quality data.
Make sure you have full confidence in the data that is being presented to the decision makers. There are different ways to go about ensuring the accuracy of all lead data collected - and we’ve got great news! LeadManaging offers tools to automatically capture every step of the leasing journey. Are you using technology to its full potential? Are you currently capturing all your calls, emails, text messages, appointment bookings, and applications? By automating the leasing process, you are gaining valuable information for allocating your budget appropriately for company success. Automation pulls real time data into easy-to-read reports, allowing you to see where every inquiry, appointment, or application is coming from; which locations or ad sources are bringing in more qualified inquiries and appointments; and the outcomes of every lead that did not convert to a lease. In order to enhance the productivity of your staff to the standards of our modern world, automation is key.
3. Use Excel wizardry to your full advantage.
Excel remains a frequently used tool for those seeking to display detailed information in a manner both efficient for the user, and effective for the reader. Our team uses this well-known Microsoft tool for practically everything, thus we ensured that every LeadManaging report can be exported into a pivot-table friendly file. Pivot tables are a great way to present detailed data that will ensure easy readability for your audience, and makes for easy referencing, so your data is well supported. Are you using Excel to its full potential? Confidence in manipulating your data can help uncover gaps and improve the way it is communicated and understood, steering your initiatives in the right direction for 2019. Improve your bottom line by asking the LeadManaging Team about some quick Excel tips. Supporting your success is the focus of our business!
It may be inevitable that August is a busy month for your company-- but that doesn’t mean it has to be a stressful or unproductive one. Utilize the above-mentioned three tips to make successful changes in your company for 2019, and look forward to a thriving new year!