Knock's Ad Spend report is a great way to better understand the true value of the lead sources for your properties. It includes details around the costs associated with sources and the cost per conversion event which can help your marketing team optimize your marketing spend. Here is a glossary for all the data points in the report. We'll also outline below what all the filters and options will do to the report to make sure everything is crystal clear!
This report will include all events that occurred within the date range, regardless of prospect creation date. For example, if a lease occurred within the date range but prospect was created outside of the date range., the lease would be counted in this report.
Properties: This is a multi-select for what properties you'd like data for. You can also quickly select all properties by clicking the "Select all" link above the box.
Date range: Defaulted to last 7 days. This is the date range that your report will reflect. This impacts the cost as well via proration, outlined above.
Ad Type: You can opt to group by type of media - Paid, Non-Paid, All - or you can combine them into one report. This easily helps you understand the value of your paid media against other paid media or if you'd like to view it all in one list you can do that as well.
Source: This is the marketing source that is tied to the traffic in question. One important thing to note here is that if you're using a network like RentPath and track their lead sources (Rent.com, ApartmentGuide.com, etc.) separately, you'll need to ask your Customer Success Manager to set a parent lead source. In this case, RentPath. This will roll all the leads from the child sources into the parent as you won't be able to separate spend at any lower level than that. This will make the lead source appear slightly different from other reports.
Ad Type: This is the fee type for the source. This will show whether the source is "Free", "$XXX per lease", "$XXX per month", or "$XXX per lead". This is set up in the Admin portion of Knock. Be sure to ask your Customer Success Manager for assistance if needed here!
Leads: This is the number of leads for date range for the source noted.
Prospects: This is the number of prospects for the date range for the source noted. If a lead is marked a "Not a Prospect" they will not be shown here.
Visits: This is the number of people that visited in the date range for the source noted. This includes both walk-ins and appointments.
Leases: This is the number of people that leased in the date range for the source noted. This does not include renewals. Note that this is impacted by the "Event" and "Created" tabs at the top. More on that below.
Total Cost: This is the total cost for the lead source over the date range. Note that we do prorate the cost for you here. For example, if your monthly cost for an ad source is $500 and you've selected the first fifteen days of a thirty day month, we will display a cost of $250. This helps get a more precise cost for all your metrics.
Cost / Prospect: This is the total cost divided by the number of prospects.
Cost / Lease: This is the total cost divided by the number of leases.
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