I’m an admirer of Eric Brown, owner of Urbane Apartments outside of Detroit. He’s a practical-minded entrepreneur who’s turned his if-I-can’t-touch-it-it’s-not-real sensibility to social marketing in order to drive prospective renters to his units.

The results have been well-documented. Eric has experimented with a lot of different approaches to using social media tools to create destinations for current and prospective residents. Some have worked, some have not, but Eric has tied each experiment to his actual results.

In a recent post on his blog, he distills these lessons into a new set of metrics that can be used to help determine the effectiveness of the social media tool set in a larger marketing mix. It’s a great starting point for conversation. One thing that you can be sure of: these are things that Eric has tried and found that work.

The link and some clips are below.

clipped from www.apartmentveteran.com
1) How Many Monthly Web Visitors do you have Per Unit,
2) How many Facebook Friends do you have Per Unit
3) How many MySpace Friends do you have per Unit
4) How many Twitter Followers do you have Per Unit,
Your Community Must Be Larger Than Your Apartment Community.
Once you have documented these new metrics, you can then start to understand just how large your Community must be in order to provide enough rental and leasing activity to keep your asset full. As you see these new metric numbers starting to climb, you can get clearer on What To Drop, and can begin to watch Your Cost Per Lease Start to Decline.