Understanding Your Analytics
Data without context is noise. Learn which metrics actually matter, what they tell you, and how to use them to make better decisions.
The Signal Framework
More signals = better decisions = higher returns.
Most operators run on one signal: occupancy. That's like flying a plane with only an altimeter. You need multiple instruments working together.
| Signals | Visibility |
|---|---|
| 1 (Occupancy only) | Flying blind |
| 2-3 (+ Revenue, Churn) | Partial visibility |
| 4+ (+ LTV, CAC, RevPAF, Move-in Source) | Full instrument panel |
The 6 Primary Metrics
Move-ins minus move-outs. The purest measure of growth velocity. Positive = growing. Negative = shrinking. Simple.
Total marketing spend ÷ move-ins. NOT cost per lead. Industry average: $150-250. REITs get under $50. If you're above $300, something is broken.
Average rent × average tenure in months. A $150/month tenant staying 14 months = $2,100 LTV. This is what each customer is worth.
Lifetime value ÷ acquisition cost. Below 3:1 is dangerous. Above 5:1 is healthy. Above 10:1 means you're probably underinvesting in marketing.
Total revenue ÷ total rentable sq ft. The density metric. Compares facilities regardless of size. Higher = better utilization.
Move-outs ÷ total tenants (monthly). Industry average: 6-8%/month. Under 5% is excellent. Over 10% is a problem to investigate.
Vanity Metrics vs. Actionable Metrics
| Vanity (Avoid) | Actionable (Use) |
|---|---|
| Website visits | Cost per move-in |
| Ad impressions | Move-ins by source |
| Click-through rate | LTV by source |
| Leads generated | Lead-to-lease conversion |
| Physical occupancy | Performing occupancy |
Weekly Analytics Review
Every Monday, review these metrics. Takes 15 minutes. Prevents surprises.
Key Takeaway
Analytics exist to help you decide, not to impress. Focus on the 6 primary metrics. Ignore vanity numbers. Review weekly. The goal is action, not admiration — every metric should answer the question: "What do I do differently on Monday?"