“Half the money I spend on advertising is wasted. The trouble is, I don’t know which half.” Does this sound familiar? Even though these words were said by retail magnate John Wanamaker more than 100 years ago, they still ring true today to many in real estate. With the broad expansion of the digital marketplace and corresponding rapid shifts in consumer behavior, there are more places than ever to advertise your properties, all at varying costs and success rates. But how do you know which advertising sources are working? The answer is marketing data, something that’s widely available today given the online customer journey. “Marketing analytics give you the information you need to positively impact your company’s bottom line,” said Esther Bonardi, vice president of marketing at Yardi. “Most property marketers look at cost per lease, often attributing the lease to the source that drove the first customer contact, but there is so much more data now that you need to take into consideration.” Keep an eye on these five property marketing metrics and you’ll be better able to drive revenue, reduce wasted advertising spend and plan for the future. 5 Marketing Metrics Every Property Marketer Should Know 1. Total Exposure What: A percentage that tells you how many total units are available for rent, including month-to-month and expiring leases.Why: Before you decide where to market, you need to decide how much marketing to do. If your exposure is low, it might be a good month to cut back. If it’s high, it’s probably time to ramp up spend. 2. Occupancy Trends What: A review of what percentage of units are occupied, examined on a month-by-month basis over a period of time.Why: Reviewing last year’s occupancy trends can give you a good idea of...