Why Kyzen Analytics Cost-Per-Lease Reporting is a Multifamily Game Changer

Track. Benchmark. Improve.

At Dyverse we consider ourselves to be pretty modest. But if there is anything we feel we need to be more boastful about, it’s Kyzen. We have just launched some new hot features including our cost-per-lease report and budget optimization tools and felt this was as good of a time as ever to tell you why Kyzen is a must-have tool for your entire portfolio.

Kyzen Analytics is continually working on improving its ability to help analyze return-on-investment from marketing spending. The new Kyzen cost-per-lease reports are a step in the right direction towards accurate and manageable attribution modeling.

The team at Dyverse has spent years developing Kyzen Analytics to be something unique and special for the multifamily industry. At the core of the Kyzen Analytics technology stack are comprehensive integrations that pull in marketing data from platforms such as Google and Facebook, as well as leasing data from industry-leading property management systems such as Yardi Voyager. On top of these data integrations, Dyverse has built Kyzen into an analytics framework that allows you to standardize tracking, simplify reporting, analyze attribution and automate the optimization process.

The cost-per-lease report is a brand new feature we have just released for current Kyzen users to begin to start using. This new report automatically pulls in the number of guest cards, tours, applications, leases, and move-ins by source (or group of sources), in addition to automating the process for pulling in costs from any advertising source that is integrated with Kyzen such as Google Ads or Facebook Ads. At the very least, this makes it super simple to create high-level estimates for average cost-per-lease from your top marketing sources related to your website including Google organic, Google Ads, and Google My Business. This property level average cost-per-lease can then be used to benchmark against previous months, or against other properties within your portfolio, or even a subset of properties within your portfolio.

We believe benchmarking average cost-per-guest card, tour, application, lease, and move-in is the next frontier for multifamily marketing. This type of analysis will allow you to determine the following:

• What is my average cost-per-lease overall, as well as my average cost-per-lease by advertising source?
• How does this average compare to previous months or other properties in my portfolio?
• How does this average cost compare to the average lifetime value of a lease? Also known as your Customer Lifetime Value to Customer Acquisition (LTV:CAC) ratio.

If your average cost-per-lease overall or by the source is too high, you can do a deeper dive into your marketing to determine how to improve the average. For example, improving the average cost-per-lease could potentially be accomplished by shifting marketing spending, optimizing advertising campaigns, or looking into other factors such as lead-to-lease conversion ratios that might be hurting the number of leases generated.

In addition to this new cost-per-lease reporting feature, how else could Kyzen help you achieve leasing greatness? We’re glad you asked!

Tracking

Once your property becomes a Kyzen subscriber, it can pull in data from your top marketing and leasing sources, and then store that data so that you have an ongoing historical reference of that data for future analysis needs. Any lapses or cancellations to your Kyzen subscription can create holes in the history of data saved, which is detrimental for accurate historical reporting and analysis.

Portfolio Reporting

After you have imported all of your properties and marketing data into Kyzen, you can now utilize Kyzen’s full list of reports. These reports include community-level dashboards and trending reports, as well as portfolio-level reporting that allows you to benchmark against other properties and quickly identify any potential opportunities for optimization or troubleshooting needed.

Attribution

In addition to our new cost-per-lease report, Kyzen features a proprietary WALL (website assisted leads and leases) report that allows you to identify how well your website and related sources such as Google Ads, website assistants, Google My Business, etc are producing guest cards, applications, and leases. This is a helpful high-level attribution report to make sure your website is producing a healthy amount of leads and leases in relation to other sources and previous time periods.

Automation

Automizing reporting workflows can help eliminate a lot of wasted time from pulling reports manually; that time can instead be better spent on analyzing and optimizing. In addition to automated reports, Kyzen features templated alert configurations based on data thresholds. These automated alerts can make sure you are notified of potential issues before too much damage is done. For example, you can be alerted if your community website has zero sessions during the previous day, which could be a result of a missing tag or some other potential issue that can be looked into and resolved before missing out on too much historical data. We also recently launched our automated budget optimization tools which can be utilized by Kyzen users that subscribe to our Kyzen Budget Optimization add-on service.

This sounds great — how do I get started?

Our cost-per-lease reporting functionality is now available for Kyzen Analytics subscribers or Dyverse digital media management clients. To learn more about how Kyzen can help you track, benchmark, and improve. Make sure to reach out to the Dyverse team to schedule a personal demo. As always, we can’t wait to help you achieve leasing greatness.