Glossary of Multifamily Marketing Technology
It can feel overwhelming venturing into the world of multifamily marketing. The purpose of this glossary is to provide a quick and easy reference for beginners. This is a living document, where it can be edited and revised as necessary and we encourage users to submit new terms not currently listed in the glossary.
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Neil Howe and William Strauss are mostly credited with coining the term “Millennials” in their book, Millennials Rising: The Next Generation, to describe those born from 1982-2004, who grew up in a world of electronics and an expanding internet. Many were encouraged to go to college, only to find little or no work in their fields upon graduating, taking jobs outside their field, they found it increasingly difficult to pay back their loans. Because of this, most Millennials irk away from commitments, such as home mortgages, and instead opt to rent.Source: Unknown
In multifamily rental properties, this metric measures the rate at which available units are rented (typically over 12 months), and is adjusted to reflect a property's turnover rates during the specified period.Source: Source: Danter
The rate that available units that are expected to rent. It is calculated as the total number of units rented divided by the total number of units listed (e.g., 42 units rented ÷ 60 units for rent = 70% absorption).Source: Source: Investopedia
The goal of the campaign could be anything you want it to be- number of tours scheduled, number of people who referred a friend or number of people who completed a survey.
Action Rate = Number of unique email ids that completed the campaign goal action / reachable list size * 100
Action Rate is the percentage of email recipients who completed an action that is defined by the campaign goal. The goal of the campaign could be anything you want it to be- number of tours scheduled, number of people who referred a friend or number of people who completed a survey. Action Rate = Number of unique email ids that completed the campaign goal action / reachable list size * 100Source: Source: Investopedia
Tangible benefits associated with increasing the value of a real estate property, which range from inclusive items (plumbing, air-conditioning, etc.) to curbside appeal and location among other factors considered important to tenants.Source: Source: Danter
The clickable text of a hyperlink. For SEO purposes, your anchor text should be relevant to target page. In HTML, an anchor text is written as <a href="[URL]">[visible text]</a>.Source: Source: Wikipedia
An automated email generated in response to a call-to-action, and to distribute newsletters, e-zines, brand updates and promotions. Autoresponders are an integral part of a sucessful email campaign, by managing email correspondence as well as reaching a growing audience. There are many autoresponse services are available, such as MailChimp and ConstantContact.Source: Source: Wikipedia
A graphic or image (measuring 468 pixels wide by 60 pixels high) used for web advertising, and is a clickable link that redirects users to a target page. As one of the most ubiquitous forms of web advertising, hosts are paid per-impression, per-click and per-action. However, declines in click-through rates in recent years have reduced banner ad rates.Source: Source: MarketingTerms
Refers to 1) the rate at which users leave your site after viewing a single page; and 2) the percentage of undeliverable emails in a campaign. This can be used to indicate any issues concerning your webpage, as high bounce rates are equated with poor-quality content, design, user experience, etc.Source: Source: MarketingTerms
How recognizable your brand is with consumers, and the utilization of all available marketing channels (i.e., radio, television, print, social media, etc.) to increase your exposure to your target audience.Source: Source: Wikipedia
How a particular brand is viewed by others. Consumers trust a company when they have a favorable brand reputation. Consumers distrust a company - and are skeptical about their goods and services - when they have an unfavorable brand reputation.Source: Source: Reputation911
In e-commerce, B2B describes when a business markets its product or service to other businesses. Typically, B2B brands support businesses across multiple industries (e.g., a new app to help process payments). Innovative B2B solutions continue to evolve to meet emerging markets and new technologies.Source: Source: Wikipedia
When a business markets its product to consumers. B2C marketing initially declined as the result of the explosive growth of the B2B market, but it continues to thrive today. B2C grows brands using ads, referrals, and social media to connect directly with consumers.Source: Source: MarketingTerms
A promotional marketing tactic used to direct your audience to perform a task via clickable content (i.e., link, banner, button, etc.) with auspicious labels such as "Click Here", "Register Now", and "Enter to Win". A strong call-to-action can result in increased leads, traffic and sales conversions. CTAs are widely used across the e-commerce and social media marketing landscapes.Source: Source: Wikipedia
Churn rate is a percentage of how many subscribers leave your list in a given period of time. There are two types of list churn: transparent churn and opaque churn.Source: Source: Getresponse
There are two metrics of click-through rate: Unique Click Through Rate and Total Click-through Rate. The former counts only a single click from within an email from each email id. The total click-through counts all clicks even multiple clicks in a single email. Click-throughs however do not include clicks on the unsubscribe link.
Unique Click-Through Rate = Number of unique recipients that clicked / Total no. of recipients * 100
Total Click-Through Rate = Total number of clicks in the campaign / Total no. of recipients * 100
The Clck-Through Rate measures the number of unique click-throughs per email campaign. There are two metrics of click-through rate: Unique Click Through Rate and Total Click-through Rate. The former counts only a single click from within an email from each email id. The total click-through counts all clicks even multiple clicks in a single email. Click-throughs however do not include clicks on the unsubscribe link. Unique Click-Through Rate = Number of unique recipients that clicked / Total no. of recipients * 100 Total Click-Through Rate = Total number of clicks in the campaign / Total no. of recipients * 100Source: Source: Getresponse
Click-through Rate (CTR)
Metric for the average number of click-throughs per hundred impressions, measured as a percentage. The CTR expresses the immediate audience response to a particular ad, email or call-to-action, but it's not indicative of an impression's overall success.Source: Source: MarketingTerms
The comparable price of rent in a market area. Also known as "fair market" rent, there are various factors that determine fair rental prices, with calculations based on scientific regression analysis of rental units in a given vicinity.Source: Source: Zilpy
Conversion Rate = total number of goal achievements / number of email recipients or website visitors or mobile subscribers *100.
The Conversion Rate measures the percentage of successful goal achievements from each of your email campaigns or your annual marketing effort as a whole. This metric can apply to your email marketing campaign, website campaign or your mobile campaign. The metric is defined by how you define your campaign and its goals. Conversion Rate = total number of goal achievements / number of email recipients or website visitors or mobile subscribers *100.Source: Source: Wikipedia
Metric used to determine the percentage of users that perform a specific call-to-action in a specific timeframe, generally resulting in sales. The conversion rate is calculated by dividing your number of goal achievements by the total number of visitors (e.g., 50 sales ÷ 1000 visitors = 5% conversion).Source: Source: Wikipedia
One or more residential buildings used for single-family ownership, condominiums and/or apartment rental units, with each household considered an "owner" of the community and have majority-rule voting in community oversight, and share in its equity. A cornerstone of government-subsidized housing with low buy-in costs and rents aimed at assisting low income households.Source: Source: Danter
Creating links directly to relevant, valuable content outside of your own site. A controversial practice, deep linking furthers the philosophy of a free and open web, yet opponents feel it puts corporate interests at a disadvantage with regard to brand-building and advertising opportunities. Deep linking connects various content with other influential and trusted sites, and creates new business opportunities.Source: Source: MarketingTerms
The percentage of emails that were actually delivered to recipients’ inboxes, calculated by subtracting hard and soft bounces from the gross number of emails sent, then dividing that number by gross emails sent.Source: Source: Hubspot
Marketing strategy that targets and makes direct contact with prospective leads. This includes contact via phone, text, email, print, television, radio and online advertising. Direct marketers generally utilize lead data generated from email lists, social media pages and other analytics.Source: Source: Investopedia
A type of multifamily housing unit that is comprised of two adjacent dwellings - either horizontally or vertically attached - and have separate entrances yet share a wall. The term is also applied to a variety of multifamily properties with three and four units.Source: Source: Wikipedia
A list of email addresses used in email campaigns to send branded content to multiple recipients. Email lists can be compiled in a variety of ways, most notably by collecting lead information via an online form.Source: Source: Wikipedia
The maximum gross rent that can be covered by government subsidies for HUD Section 8 housing in a particular area. This can also be used to determine tax rates in appraisal districts.Source: Source: Danter
Type of apartment unit characterized by a cluster of low-rise structures accented with landscaping and/or a garden area. Typically, these types of units are built on or below ground level, with amenities such as pools, playgrounds and clubhouses.Source: Source: Danter
Mobile marketing tactic that employs mobile devices' geopositioning system (GPS) to target consumers' mobile devices with location-based content (e.g., advertisements, promotions, etc.) via SMS or push notifications based on their IP address.Source: Source: MarketingTerms
The total amount of rent paid including the estimated cost of utilities. Also known as a "gross lease", it is the basic cost a tenant is charged by a landlord (or other third party) to occupy the rental property.Source: Source: Danter
Hard Bounces occur for one of these common reasons:
- A recipient’s email address does not exist due to being fake, deleted, deactivated, or misspelled.
- The recipient's email server has blocked the sender's email.
- The domain name does not exist.
When hyMail is notified about a Hard Bounce, the email address that caused the Hard Bounce will automatically be unsubscribed and marked as "Bad."
While a Soft Bounce is a temporary delivery failure, a Hard Bounce happens when an email is sent back to the email’s sender and marked as a permanent delivery failure. Hard Bounces occur for one of these common reasons: - A recipient’s email address does not exist due to being fake, deleted, deactivated, or misspelled. - The recipient's email server has blocked the sender's email. - The domain name does not exist. When hyMail is notified about a Hard Bounce, the email address that caused the Hard Bounce will automatically be unsubscribed and marked as "Bad."Source: Source: Amazon Web Services
Housing Choice Voucher
As the largest part of the Section 8 program, it is used to assist low-income families and the elderly or disabled pay for housing. These vouchers are administered at the local level by a city's Public Housing Authority (PHA) to find suitable housing for tenants. Vouchers pay rent directly to landlords.Source: Source: Danter
External or third-party links that bring visitors to your website. Your inbound links rate is the primary factor in your Google page ranking and plays a large role in your brand's visibility on other SERPs. Inbound links are also integral to increasing traffic to your site.Source: Source: MarketingTerms
A passive brand marketing strategy that utilizes consumers' initiative to seek out a product or a service before engaging them with promotional content, also known as permission marketing. Once users are interested, they are presented with various branded content including blogs, e-books, podcasts, social media, videos, whitepapers, and more.Source: Source: MarketingTerms
Popular and influential entities including bloggers, journalists, brand evangelists, and others with a significant voice in their respective audiences. They can increase your brand's traffic by endorsing and/or promoting your product or service via their own content marketing channels (e.g., blog, website, social media, etc.).Source: Source: Wikipedia
Key Performance Indicators (KPIs)
An array of metrics - also known as "Key Success Indicators" - used to determine the strategic and operational goals of a given campaign. Actual key indicators can vary depending on the industry, but generally are used to track growth and performance. In digital marketing, indicators may measure unique website visitors, bounce rate, average on-site user-time, average page-viewership, conversion rate, brand persuasion score, search engine ranking, and much more.Source: Source: Investopedia
Using relevant keywords and keyword phrases to gain greater brand exposure through digital ads (typically banners) specific to a web page, SERP (GoogleAds), or otherwise. Keywords are crucial to increasing organic (unpaid) SERP rankings and search results.Source: Source: MarketingTerms
Online marketing tactic that directs users to a single webpage upon clicking an SERP link or online ad. On the landing page, users enter their information (typically an email address) to receive a promotional offer, newsletter, etc., and is also known as a "lead-capture page," as they are optimized for building lead lists by capturing user data.Source: Source: Wikipedia
An automated lead nurturing program allows agents to spend less time nurturing the leads while allowing them to spend more time on one-on-one relationships to close the lead.
Lead nurturing is a mostly automated process to raise awareness of your community in the prospect's eyes. This is done through a multi-step program of providing relevant, informative, and engaging content, designed to attract the user to sign the lease. An automated lead nurturing program allows agents to spend less time nurturing the leads while allowing them to spend more time on one-on-one relationships to close the lead.Source: Source: Hy.ly
An integral part of the lead management process: this is where you "track" prospective users in order to focus providing additional promotions and content dependent on the level of user interest and response. Leads are tracked using contact history via a customer relationship management (CRM) system.Source: Source: SmartCRM
A social media marketing tactic that encourages users to 'Like' a brand page first before gaining access to branded content, and is generally used for access to videos, contests, promotions, giveaways, polls, etc. Using like-gates also increases the total number of page 'Likes' at a relatively higher rate than pages that do not.Source: Source: MarketingTerms
The List Growth Rate metric measures the rate at which your list size is growing. List growth rate = (Number of new subscribers - total no. of unsubscribers - no of hard bounces) / List size * 100Source: Source: Hy.ly
Leads can be segmented by a variety of criteria: demographic (age, sex...), psychographic (activities, interests, opinions...), or even lead nurturing stage (new, active, sales-ready...).
List segmentation is the process of dividing your leads into sub-groups. Segmentation allows you to target specific messages to specific sub-groups, leading to a better response on each message. List segmentation is also the foundation of an efficient lead nurturing process. Leads can be segmented by a variety of criteria: demographic (age, sex...), psychographic (activities, interests, opinions...), or even lead nurturing stage (new, active, sales-ready...).Source: Source: Hy.ly
List size measures the number of unique email ids on an email list. Ensure that your list does not contain any duplicate emails, i.e. more than one email belonging to the same person. The quality of the list depends on the authenticity of the email ids. Shorter lists are easier to manage and monitor. List growth rate is an important metric to monitor for shorter lists.Source: Source: Hy.ly
Using regression analysis, rent is determined as comparable to an area's commercial markets (e.g., the tech industry in San Diego, CA), in which unit rental costs are affected by the current state of a particular market (i.e., the stronger the market, the higher the rents).Source: Source: Danter
A written document that describes in detail the overall marketing strategies and tactics that will be developed for a given campaign. A good plan will propose a campaign's goals, aesthetics, budget, schedule, metrics, and ROI.Source: Source: Wikipedia
Rental prices for unit types in a particular metropolitan area. Exactly half of the units have higher rents and half have lower rents. Used to calculate fair-market rental prices.Source: Source: Danter
Metropolitan Statistical Area (MSA)
A geographical region with high population density. As a metric, it is used to identify the real estate market associated with a statistical urban area, and is calculated by the Office of Management and Budget and utilized by Federal agencies including the U.S. Census Bureau.Source: Source: Danter
Real estate marketing tool that incorporates high-quality video tours of multifamily properties, used to present a property to prospective buyers and/or secure investment funds. Multifamily tours are used with apartments, condos, timeshares, luxury residences, senior living, and low-income housing projects.Source: Source: National Real Estate Investor
Measure of the total amount of occupied space (in square-footage) less the total vacated space in a rental property (not including sublets, pre-leases or lease renewals) during the applicable rental period.Source: Source: Danter
The amount a tenant will pay to a lessor or landlord in addition to the rent, which also covers some or all property expenses, and is specified within the lease. Typically used with commercial rental properties, and can be "pro-rated" based on the size of the leased property. With multifamily rental units, a tenant's rent is adjusted to reflect utilities and/or amenities paid for by the landlord.Source: Source: Danter
The calculation used by real estate investors to determine cashflow and the viability of the property based on the number of tenants. High occupancy rates reveals a stable base of tenants and can prompt a rise in rent by the landlord. Low occupancy rates can be improved through rebranding, strong marketing and advertising.Source: Source: Investopedia
Open Rate measures the percentage of emails opened out of the total emails sent to recipients on the list. Open Rate = Number of Unique Emails Opened / Total number of email recipients * 100Source: Source: Investopedia
Email is requested by users. In email marketing, there are two types of opt-ins: the 'single opt-in', where users simply sign up; and the 'double opt-in', where users confirm their subscription by responding to an auto-generated message.Source: Source: Wikipedia
SEO metric that measures [unpaid] search engine results based on keywords, links, and content relevancy rather than results generated by paid-advertising. In the context of social media marketing, this is the result of sharability by users as opposed to pay-per-click advertising or buying 'Likes' on Facebook.Source: Source: http://en.wikipedia.org/wiki/Organic_search
A link that directs users from your website to an external domain. Many SEO experts agree that these are the primary contributor to page rankings. SEO best practices dictates that you never stuff a site with outbound links or risk losing page rankings.Source: Source: MarketingTerms
The number of unique users that view a webpage and/or content on your website. This metric is used to determine the amount of traffic coming to your site, and it plays a major factor in measuring other data including clickthroughs, user retention and bounce rates, even content value.Source: Source: MarketingTerms
Marketing metric that measures the percentage of users that receive and share a branded message or content (e.g., coupon, promotional email, social media). Also known as the metric for "word-of-mouth" marketing. This can also be used to identify "brand evangelists" within an audience.Source: Source: MarketingTerms
Digital marketing tactic used to direct traffic via ads on a webpage, in which advertisers pay the host site for every click received. With SERPs, advertisers can bid on keywords relevant to their target audiences. Also known as "sponsored links."Source: Source: Wikipedia
Digital advertisement that "pops up" in a new browser window or tab, usually disrupting the user experience. Pop-up ads have long been considered the bane of users' collective online existence because of their intrusive nature. Traffic and conversion metrics may be inaccurate due to "false-positives" of users mistakenly clicking on the ad when attempting to close it.Source: Source: MarketingTerms
Metric used to measure a particular area surrounding a property site. The proposed area of analysis is circular, extending anywhere from one to ten miles from the center of the location. The analysis does not consider factors such as mobility, geography or socioeconomic disparity as it may differ from areas outside the analytic parameters.Source: Source: Danter
Reachable List Size is the total number of email ids on the list to which you can successfully deliver emails. Reachable List Size = List Size - Number of invalid ids - Number of non-existent ids - Number of unsubscribes - Number of Soft BouncesSource: Source: Danter
Metric used to survey the median rent in a given area based on the available types of rental units and a property's comparability rating to allow property owners and landlords to forecast rent for a particular rental property. Calculated as Y ≈ f(X, β); x=independent variables, y=dependent variables.Source: Source: Danter
Theory published by Neil Smith in 1979 that measures the difference between the actual and the potential values of a property when considering the "best use" of a site. It has been used to explain the economic motives behind the gentrification of a particular area, revealing the difference in actual rental incomes versus potential rental incomes.Source: Source: Danter
Metric used to calculate the number of tenants needed to sign leases in order to offset the losses associated with tenants that have either broken or not renewed their leases.Source: Source: Danter
Metric used to determine the effectiveness of a marketing campaign by tracking traffic and conversions generated across multiple channels, audience engagement and other factors, against the hard costs of executing the campaign. ROI is calculated as total profits divided by the total investment (e.g., $1000 profit ÷ $5000 investment = 20% ROI).Source: Source: Wikipedia
Robotic Process Automation
With RPA, following the best practice processes set by the company is easy and consistent. Employees can ‘Set it and Forget it.’ Giving them more time to focus on tasks that require a human touch.
RPA is an emerging technology that utilizes software “robots” (artificial intelligence workers) to eliminate repetitive tasks. Freeing employees to focus on higher value work. With RPA, following the best practice processes set by the company is easy and consistent. Employees can ‘Set it and Forget it.’ Giving them more time to focus on tasks that require a human touch.Source: Source: Hy.ly
Online ad buying tactic that rotates ads on various pages on a single website or network. This is used to generate broader traffic by reaching out to random users as opposed to a target audience.Source: Source: DigitalMarketingGlossary
Search Engine Optimization (SEO)
The art of using relevant keywords to "optimize" your content and pages in order to gain more web traffic and more prominent search engine page rankings. Good SEO tactics yield more "organic" search results, which contributes to an overall better user experience and are heralded by white-hat SEO wizards.Source: Source: MarketingTerms
Here are some common reasons that a Soft Bounce can occur:
- A recipient’s mailbox was full when the email was sent.
- The email’s file size was too big.
- The recipients’ server was offline at the time the email was sent.
If an email address continues to Soft Bounce campaigns until they reach hyMail's Email Bounce Threshold (the limit number of campaigns that an email address can Soft Bounce), it will be marked as "Bad" and will be unsubscribed.
In contrast to a Hard Bounce, a Soft Bounce happens when an email is successfully sent but the bounce occurred due to a temporary delivery failure. Here are some common reasons that a Soft Bounce can occur: - A recipient’s mailbox was full when the email was sent. - The email’s file size was too big. - The recipients’ server was offline at the time the email was sent. If an email address continues to Soft Bounce campaigns until they reach hyMail's Email Bounce Threshold (the limit number of campaigns that an email address can Soft Bounce), it will be marked as "Bad" and will be unsubscribed.Source: Source: Amazon Web Services
Type of lease that provides deceased rental rates for tenants on specific future dates. Landlords can use this type of lease to avoid losing tenants who would otherwise need to move out due to rising rents.Source: Source: MoneyGlossary
Type of lease where rental rates for tenants increase to a predetermined amount on specific future dates. The property owner risks losing his or her investment, betting against factors such as inflation, taxes, and other incurred costs.Source: Source: Investopedia
The audience that will be most apt to use your product or service; the one you are trying to market to. Target audiences must be discovered through property market research, or risk losing valuable time and money marketing to the wrong demographic. Social media is used prominently in discovering your brand's target market.Source: Source: Wikipedia
Metric used to measure a rental property's efficiency by calculating the number of vacant rental units due to broken or non-renewed leases. High turnover rates can affect unit as well as surrounding property market prices.Source: Source: Danter
The classification for residential dwellings. Includes single-family and multifamily housing, further classified by size (1,2, or 3+ bedrooms) and unit structure type (e.g., apartment, condominium, duplex, townhouse, etc.), and is used to calculate rent.Source: Source: Danter
Unsubscribe rate is the rate at which subscribers are leaving your list after opening your email. Unsubscribe rate = Number of people unsubscribed from the list / list size * 100Source: Source: Hy.ly
Unsubscribes is the total number of subscribers that have left your email campaign after opening your email. Unsubscribes are recorded when recipients click on the “Unsubscribe” link. Deleted messages and messages marked as Spam do not count as unsubscribes.Source: Source: Hy.ly
The upper-25% over the median rental prices in a given area over a specified period of time. For example, a multi-unit rental property has a total of 40 apartments; 10 of these apartments will have higher-than-average rent in comparison to the other 30 units.Source: Source: Danter
HUD guideline managed by local Public Housing Authorities that defines the "Total Resident Payment" for low-income tenants living in subsidized housing. These allowances are for basic utilities such as propane, natural gas, electricity, water & sewer, and garbage collection.Source: Source: Danter
The calculation used by real estate investors to determine the value of a rental property. High vacancy rates indicate a property is undervalued or undesireable. Low vacancy rates equate to more prosperous real estate properties with owners enjoying lower tenant-turnover rates and increased leverage in raising rental prices.Source: Source: Investopedia
To "go viral" is a marketing phenomenon that describes when branded content gets shared by the audience and thereby explodes in popularity on an exponential scale.Source: Source: Wikipedia
Metric that measures the number of visitors going to and from websites. This includes any user data sent and/or received via a domain. In digital marketing, this is crucial to your analytics and one of several key performance indicators (KPIs).Source: Source: Wikipedia