How to be Proactive about Your Digital Advertising Budget

The unpredictability of 2020 forced us all to look at things from a new perspective, in one way or another; for many in the multifamily field, one of those things was budgeting. For this reason, we here at Dyverse have developed a tool to help you be proactive about managing your property’s (or portfolio’s) advertising spend and get the most for your money.

So how does it work?

Dyverse’s new budget optimization service allows you to adjust your budget based on need, rather than spending the same amount each month. The best part? You’ll receive automated notifications when it’s time to make an adjustment based on custom thresholds set for your property. For example, if your exposure (aka potential occupancy over 90 days based on your current occupancy and planned move-outs) is at 15% or higher, you can be notified that you should be spending 100% of your planned budget. If your exposure drops to 5% or lower, meaning you won’t have much availability in the near future, you may want to drop your spending all the way down to 0%.

P.S. We pull your up-to-date exposure information from your property management system i.e. Yardi Voyager daily to ensure that you’re making adjustments proactively — not reactively.

First, start by building out your month-by-month budget — this can be done by you, or our team can calibrate it for you in the system. Then, set as many personalized spend thresholds based on exposure rate as your property needs. After that, rest easy while our team manages all the adjustments to your advertising spend based on the planned budget and custom optimization settings. We’ve got you.

What can this service do for me?

Using our budget optimization service can benefit your property or portfolio in a myriad of ways. Budget customization could potentially result in saving thousands of dollars per year on advertising by pulling spend when you don’t need it, and give you the foresight to reallocate those saved funds during a time when you may have to stretch your spending a bit more than planned. The property level budget tool gives you a place to enter and manage annual budgets so that you have a place to keep track of budgeted versus actual spend, which can improve efficiency and accuracy year after year.

We also provide a portfolio budget report that provides you and/or your account manager a way to review all of your portfolio’s budgeted, actual, and recommended spend in one place. This in addition to the automated budget suggestion notifications help you to be proactive with timely budget adjustments.

This sounds great—how do I get started?

Our budget optimization service is available as an add-on to our Kyzen Analytics software; to learn more about the service or Kyzen, or to schedule a personal demo, make sure to reach out to the Dyverse team. We can’t wait to help you achieve leasing greatness.