Unlock Smarter Campaign Insights with The New Impressions Report (Beta)

We're excited to introduce the Impressions Report, a new feature available exclusively to Rentals.ca Infinity Network members. This tool provides valuable insights into how your property listings are performing across our network, enabling you to refine your rental strategies effectively.

What is the new Impressions Report?

The Impressions Report shows the number of times your property listings were viewed across the Rentals.ca Infinity Network, and we call this metric ‘impressions’. By combining impressions data with lead information, we can calculate your conversion rate—the percentage of impressions that result in an inquiry. This metric is a key data point for assessing the appeal of your listings and making informed decisions around pricing and what marketing packages will be needed to meet your goals.

Who Has Access to the Impressions Report?

Access to the Impressions Report is exclusive to users syndicating to the Rentals.ca Infinity Network. If you are not currently on the Rentals.ca Infinity Network, consider joining to take advantage of this and other beneficial features.

How to Utilize the Impressions Report

Analyzing impressions and conversion data offers a deeper understanding of how renters in the market perceive your property's price-value proposition. This involves evaluating whether the property's features—such as size, location, and amenities—justify the listed price. All else being equal, a higher conversion rate generally indicates that renters find your listing's value proposition compelling.

Should You Always Aim for a Higher Conversion Rate?

While a higher conversion rate often reflects strongly perceived value, an excessively high rate might suggest that your property is underpriced. It's essential to balance conversion rates with rental income goals. In some cases, a lower conversion rate at a higher rent may better align with your financial objectives.

What Factors Influence Impressions and Conversions?

Impressions:
These are influenced by market demand for specific property types and your chosen Infinity Network promotion package. For example, a one-bedroom condo in a high-demand area like Vancouver is likely to receive more impressions than a four-bedroom house in a less sought-after location. Additionally, higher-tier promotion packages like ‘Infinity 6x’ or ‘Infinity Max’, can increase your listing's visibility and capture a larger share of potential impressions in a given market.

Conversions:
Conversion rates are more closely tied to the property's specific attributes. Two similarly promoted properties in the same area can have different conversion rates based on factors such as location, amenities, pricing, quality of media (photos and videos), descriptions, and branding. Enhancing these aspects can lead to higher engagement from potential renters.

How Can I Compare the Performance of Different Listings?

Comparing the performance of your listings can be a powerful way to optimize your rental strategy, but it’s important to consider a few key factors:

Market Dynamics:
Listings in low-density areas or tertiary markets often see higher conversion rates. With fewer options available, renters are more likely to inquire about your property compared to areas with a high density of similar listings.

Promotion Levels:
Properties with higher Infinity Network promotion packages will naturally receive more impressions, but this can lead to a lower conversion rate. This is due to diminishing returns—while higher promotion may result in more views, it doesn't necessarily lead to a proportional increase in leads. For instance, 4x the impressions might not yield 4x the inquiries.

When comparing listings, make sure to adjust your analysis based on these variables. By understanding the context behind each metric, you can better assess performance and make informed adjustments to your pricing, promotion, and listing strategies.

We Value Your Feedback 

As the Impressions Report is currently in beta, your feedback is instrumental in helping us refine this tool. Please share your thoughts on its functionality and any additional features that would assist you in understanding your listings better.

By leveraging the Impressions Report, you can gain a comprehensive view of your listings' performance, enabling you to make strategic adjustments that attract the right tenants and optimize your rental income.