Posted by Auctionneer on June 14, 2011 at 06:35:01:
Shawn, I applaud you for tracking your advertising results. Back in the day we became lazy and I am afraid that I still am. It is important to know what efforts seem to have the best results yet things are constantly changing so we need to also try new things or even old things as times and variables change.
I have a website (ChattanoogaRentals.com) and everytime I place an ad whether it be a free craigslist ad or a payed classified ad I always include the website as a form of branding. It has worked well and to the point that I fear having nothing available on the ad actually could hurt the brand so I leave stuff on that was recently leased. I plan to put coming soon ads up as well. I am fortunate to be in a rental market that is doing well considering. There is presently a shortage of decent rental properties (Single family). We are 100% occupied and considering increasing rents for the first time in a long while. What attracted me to the MHP was the low turnover rate because turnover is always the greatest expense in this business. So for now we are enjoying the MHP like turnover rates but as the economy improves renters will become buyers and normal turnover will return.
Back to advertising… my favorite quote regarding advertising (I’m sure you’ve heard it before as well) is worth repeating… “Half of all advertising dollars are wasted. We just don’t know which half”!
Keep up the good work! All the best!!! Karl