KNOCK CRM BRINGS “SPEED AND ACCURACY” TO EDGEWOOD AND VANTAGE MANAGEMENT MARKETING PIPELINE
ABOUT EDGEWOOD AND VANTAGE MANAGEMENT
HQ: Gaithersburg, Maryland
Mostly third-party fee management
Portfolio: 30,000+ units
CHALLENGE: REAL-TIME DATA FOR REAL-TIME MARKETING DECISIONS
With over 150 properties and 30,000+ units, the marketing team at Edgewood and Vantage Management needed a faster and more accurate way to track qualified traffic, leads and optimize their marketing pipeline.
Onsite teams needed a better way to prioritize responses in a timely way, while real-time visibility into performance, and attribution were areas Wendy Simpson, vice president of marketing was interested in.
Until recently, nearly everything they tracked was manually inputted into a property management system.
“Speed is essential,” Simpson said. “We could not get the data we needed quickly enough to make good business decisions.”
APPROACH: USE INSIGHTS AND AUTOMATION TO INCREASE SPEED TO LEASE
Edgewood and Vantage implemented Knock CRM, and now the team uses Insights to optimize marketing performance. Simpson tracks “fundamental benchmarks” with Knock, including conversions, responsiveness, follow-ups, ad spend, and lead and lease attribution.
Simpson and her teams “chop up” the data, and compare by timeframe, property, and portfolio - among other benchmarks. Through Knock, they understand the value of the leads, which are converting, and which sources are working best.
“With Knock, we understand the return on the investments we are making,” she shared. “We’re able to count every lead, determine whether it is qualified and how it moves down the funnel.”
She continued, “My team is benefiting from the speed from the time of the first contact to the lease Knock provides. Even if we cut our vacancy loss by a day, that’s a big deal. I suspect it’s being cut by more than one day.”
The Knock To Do list helps onsite teams prioritize, organize and track incoming traffic, making their pipeline much more manageable.
“The touchpoints all the way through - all of those little things that would have taken us four or five tasks to do - are either templated, automated or just easier for leasing consultants to track,” Simpson shared.
RESULTS: NO MORE “GUESSWORK” MEANS MORE EFFICIENT MARKETING
“There’s no guesswork anymore on how campaigns are performing,” Simpson said. “It gives us checks and balances.”
Simpson continued, “The accuracy of the system is another plus. It’s helped us improve response time - from the moment of the first contact with the prospect to the tour to the lease.”
For the recent lease-up of Fenton Silver Spring, a 100% affordable community, Simpson shared, “We used Knock to analyze qualified lead flow. We found that one source was underperforming, thanks to Knock’s loss reasons report, and decided to relocate our spend to a higher-performing advertising source, which in turn helped us to complete the lease-up.”
She added, “Without Knock, we wouldn’t be able to make real-time decisions, or make recommendations with clients.”
“Knock gives us the info we need, as we need it. It’s performance data on steroids.”
- Wendy Simpson, Senior Vice President, Marketing, Edgewood and Vantage Management