Share This
Related Posts
Tags
Leads to Leases
By Erica Rascón on Apr 7, 2015 in News
You’ve followed the online marketing basics: you have a website with property contact info and pictures. You set up social media accounts and add some new content every week. But now you’re frustrated because your efforts aren’t paying off. What can you do?
SatisFacts 2015 Online Renter Study promotes a better understanding of today’s “online resident and prospect,” the largest segment of apartment renters in the US. The company analyzed more than 7,600 renter responses representing over 21 property management companies.
Answer these questions to learn how SatisFacts’ research could boost your conversion rate.
Can prospects find you?
First and foremost, you have to make sure that prospects can find you online, anywhere. If your website isn’t WAP-enabled and HTML5 coded for mobile, you’re missing out on the 60.1 percent of renters who use mobile devices during their rental search.
Odds are, renters aren’t typing your URL directly into the address bar when they search for apartments. That means your presence is vital on listing and review sites. 68.8 percent of renters search ILS and 45.4 percent seek guidance from rating and review sites. If you’re not listed in both locations, you’re being overlooked.
Did you set your best foot forward?
Make sure that you offer recent images and up-to-date information, especially when it comes to the availability of apartments. Renters want all of the information needed to make an accurate decision on the spot.
The absolute best-case scenario is to provide prospects with photo or video tours of the unit that is available for rent. Your immaculately staged model doesn’t impress them. Viewing the actual apartment has the #1 greatest impact on a leasing decision whereas viewing a furnished model falls at 12th place. With such information available online, about 10 percent of renters will decide to sign a lease site unseen.
Do you have a good rap?
For the remaining 90 percent who want more information, they’ll start looking around for real-world recommendations. 74.4 percent of renters trust referrals from their friends and co-workers. 67.7 percent put their faith in online reviews. This means that it’s more important than ever to kick your referral system up a notch.
Provide incentives for existing residents to make referrals, such as lease discounts or prize giveaways. Since face-to-face referrals have such high success rates, they deserve greater incentives.
You can also incentivize participation in forums and social media. Residents don’t necessarily need to make up glowing reviews. Honesty is best since more than half of renters would not trust a review site if all or most of the reviews were positive. Instead, offer small incentives (gift cards, for example) for social media engagement that includes balanced feedback on the property and staff.
Don’t be afraid to ask for feedback. 61 percent of all renters are willing to post a positive rating or review!
Once you’ve rallied feedback, promote the characteristics revealed in the positive reviews and set out to rectify the concerns expressed in negative feedback. When renters see that apartment community staff has constructive responses to negative feedback online, 57 percent conclude great things about the community’s customer service and 49 percent feel your company “really care about their residents.”
Now you’ve got their attention!
All of the work that you’ve put in simply formed your first impression. Prospects have flown through it in a matter of minutes! Now they’re ready to show up at the leasing office and take action. Coach your onsite team on these communication skills. Now you’re ready to turn a prospect into a loyal resident.
