What is conversion velocity?

As a performance metric, conversion velocity assesses the time taken by a lead to hit the next key “CrSTAL” milestone in their lead-to-lease journey.
This also provides a benchmark at the PMC and Multifamily level to evaluate the performance of a property/PMC relative to it.

Why it matters?

It allows us to:

- Assess the quality of leads at each milestone. 
- Gain insights into best practices and identify areas of improvement. 
- Assess the quality of the inter-milestone experience. 

Example

For example, 

- Time taken by a lead to apply after touring a property is 5.0 days. 

- Conversion velocity for this lead is 5.0 days.