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Guidance Frequently Asked Questions on New Federal Do Not Call Do Not Fax Regulations
In response to growing consumer complaints about telemarketing, the federal government has issued two new regulations that strictly limit the way apartment firms and trade associations can use the telephone and fax to market themselves. To help members better understand the new rules, this document answers some of the most frequently asked questions about them. Firms are advised that the rules take very different approaches to regulating fax marketing and telephone marketing and that each rule d
The Subscription Model
How it works: You
pay a flat monthly subscription fee for lead generation, regardless of the
number of leads generated or whether any of those leads visit your community or
end up signing a lease.
What I like about it:
The thing to remember when looking at a subscription pricing model is that
it works to your best advantage when you have a solid and proven system to
track lead source performance. If you do, your average cost per lease is, at
least in Waterton’s experience, less with a subscripti
The Pay-Per-Contact Model
What it is: You
pay for every lead that comes through your partner ILS provider’s site.
What I like about it:
Pay-per-contact, otherwise known as pay-per-lead, puts you in the driver’s seat
and allows you to ultimately control how much you spend. The onus is then on you-the
property management company-to put your marketing budget to work for
you.
Having this degree of control also means having the
flexibility to adjust quickly to changing market conditions. For example, if
you have a lease-up
The Pay-for-Performance Model
What it is: You
only pay for leads that end up signing leases.
What I like about it:
With the pay-for-performance pricing model, if there’s no lease, then there’s
no cost. So, it’s low risk and a higher reward for you as the property manager.
At the end of the day, you want leases. And this model is
the most efficient way to ensure you are paying for the result you want. In our
experience at Bell Partners, the cost per lease with the pay-for-performance
model is usually a fraction of what you’d
The Pay-Per-Tour Model
What it is: You pay
when a qualified lead actually steps foot into your community.
What I like about it:
The pay-per-tour model is one of my personal favorite pricing models because it
puts the burden to generate a quality lead squarely on the ILS partner.
Put another way, the pay-per-tour model gives you, in
essence, an extension of your leasing office, helping to qualify prospects and bring
customers down the leasing funnel one step further. So, your on-site team
doesn’t have to split its tim