Applying past performance cost pers to shape budget strategy

01 — Project details

The aim of this reporting and project was to create a more data backed approach to writing budgets and making strategic recommendations.

02 — Process

Utilizing our monthly spend data, and the lead attribution model set up in our CRM, I created a cost per lead source excel model to track our lead source and property performance.

On a monthly basis I will aggregate lead source activity and spend for each property to create cost per data for each lead source and total cost per lead for each property.

03 — Using this data

Using this report and our company conversion benchmarks, we are able to reverse engineer a property's specific budget needs by taking their forecasted move in goals, and working backwards to to the number of leads they would need to accomplish those leases, and ultimately the spend needed to generate those leads.

This approach also enables us to assess a gap in monthly lead generation when more leases than expected give notice and additional spend recommendations are needed.