Reporting is massively important to maintaining client relationships, developing strategies and reaching client goals, especially as it pertains to marketing ideas for apartments. Reporting can seem like a daunting task when you consider the needs of clients and the sheer volume of data produced and consumed by modern agencies. However, that doesn’t mean reporting needs to consume an excessive amount of an agency’s time and resources. To help understand what makes for successful client reporting, we’ve put together a list of five critical factors that contribute to effective reporting strategies.
- Reporting must be timely
Reports should be issued on a consistent schedule that’s communicated ahead of time to clients. Clients may have internal reporting — which relies on data provided by the agency — and a consistent reporting schedule allows clients to better prepare for their own reporting. Reports should be issued as soon as possible after the end of the reporting period to ensure the relevance of the information. Delayed or inconsistent reporting can lead to missed opportunities and challenges when responding to changing conditions.
- Reporting must be consistent
Metrics and data can only be relied on when they’re consistent. Once key indicators are identified, they must be reported consistently. Any changes should be expressly disclosed through the reporting. If changes are made in the report but aren’t communicated clearly, you run the risk of a client walking away with an incomplete or even inaccurate understanding of the story you’re trying to tell.
- Reporting must be customizable
While some reporting can be automated, reporting must be responsive and capable of evolving to suit the changing needs and preferences of the client. Custom reporting is a necessity when the client has complex or unique needs. You might have to go through many iterations of a report before you reach a version that shows a complete picture. It can be frustrating to go through such an iterative process to make major changes to the report, but it’s necessary when clients are facing new challenges or implementing complex apartment complex marketing ideas.
- Reporting must be actionable
Provide suggested actions and tactics in the report that take advantage of opportunities exposed by the data. Reports should look forward while still showing historical data. Reporting should serve as a tool for establishing goals and strategies rather than just being a simple recap of past performance. A client should always walk away with an understanding of not only what actions you plan to take on their behalf, but also what actions they can take to help them reach their goals.
- Reporting must tell a story
Reporting that tells a story is the most important component of effective reporting, and should be the primary goal when establishing reporting processes. It’s your responsibility to provide the insight behind the metrics. The story behind the data is almost always more relevant than the data itself.
The factors that influence decisions — and the results of those decisions — are often qualitative and can’t be represented through data alone. The report should communicate how a client’s investment is paying off, and provide context for both failures and successes. Providing a detailed story of what’s working and what isn’t creates opportunities to work with the client to develop new strategies and refine current ones. Overall, the effectiveness of any reporting is reliant on a high quality and exhaustive narrative that ties together all the data.
Here at Threshold, we always report on the quantifiable success of our apartment marketing ideas. If you want to work with an agency that values transparency, get in touch with us today.