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Get with the Program... Lifecycle Programming, that is. :CLM Series

  What is Lifecycle Programming? Lifecycle Programming is a way to automate customer lifecycle marketing for Multifamily.It combines customer lifecycle marketing efforts from employees and the digital workforce to build stronger customer relationships. Let’s dive deeper.   How Does it Work? Using a series of plays, Lifecycle Programming provides targeted content to customers. The customer’s stage in the lifecycle determines the play used. Each play is a collection of email topics to send to customers in a particular stage of the lifecycle. A play contains a mix of automated drips, triggered alerts and eBlasts.All together, these emails work to move customers from one stage to the next.  Plus, they are faster and easier than traditional email marketing campaigns! Automation is the key to making Customer Lifecycle Marketing for Multifamily work. Each of the email types used in a play involves some degree of automation. Let’s learn a little more.   Triggered Alert Triggered alerts have the highest level of automation. These emails rely on ambient intelligence to sense and respond to an event. Trigger events can be a result of a property’s action or prospect’s action. Property triggers result from property management company actions. These can vary from price changes to policy changes. Prospect triggers are a result of actions taken by the prospect. Events like submitting an application or clicking through an email are prospect triggers. Take a look at the chart below. It makes it easy to see how little agent effort is required. For example, a prospect may only click through emails featuring one bedroom apartments. The system uses that information to infer the......
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Hey Property Managers — Branding isn’t just for Apple and Google

BrandingResidentLoyalty Most companies think branding is for giants like Apple and Google. After all, these tech monsters yield a combined $270 billion in value from their efforts. All the result of a well-coordinated branding effort that includes frequently focused messaging and a consistent visual presence at every touch point.However, just because you’re a smaller property management company, don’t think for a moment that branding isn’t just as important for you.Branding maintains consistency with messaging, emails, and other regularly used outreach tools that over time leaves with the consumer a lasting impression of the quality of your company. Done properly, branding can also influence the reactions and thoughts prospective residents, current residents and first-timers have when they interact with your property. First impressions last a lifetime - and with so many other choices out there for your potential residents, it's important that you're building trust and brand loyalty every step of the way - whether they're still a potential lead or an active member of your community.Think about it—a potential resident is evaluating whether or not they want to live at your property (or continue living at your property.) If they walk away feeling like your company is “cheap”, lackluster and disorganized, they’re going to pass you over and set their sights on somewhere else. Having a strong and consistent internet presence is more important than ever - resident communities have become a world full of choices. Properties are a dime a dozen in the mind of the resident, so it’s your job to present y......
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CLM: Multifamily's Next Big Thing.

Multifamily Customer LifecycleWhat is Customer Lifecycle Marketing? Everyone knows in business the customer comes first. Customer Lifecycle Marketing is founded on this principle. The goal of Customer Lifecycle Marketing is to send content to leads based on their stage in the customer lifecycle. What is exciting for a prospect may not matter to a dead lead and vice versa. So why would you send them the same content? Plus, customers who received emails specific to their stage in the customer lifecycle have a 72% higher conversion rate. Did we mention? Marketers who use segmented email marketing campaigns experience a 760% increase in revenue! Let’s see what this looks like for Multifamily. Still confused about CLM? Download the Customer Lifecycle Marketing Infographic.   How Does it Work? Every potential Multifamily customer falls into one of the following zones: Prospect Zone Resident Zone Dormant Zone So let’s take a look at the normal lifecycle for a Multifamily customer.   The idea is to get every lead into the Resident Zone. A.K.A.the zone where you are making money. Obviously having full occupancy forever is a fantasy, but that doesn’t mean you shouldn’t form your strategy with that goal in mind. Norman Vincent Peale said it best, “Shoot for the moon. Even if you miss, you’ll land among the stars.” That’s what we are doing with Lifecycle Programming.   How to Put it into Play We have developed ready-made ‘plays’ to make the transition from each stage to the next as easy as possible. And maximize the number of customers in the Resident Zone!     By engaging with each customer at every step of th......
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4 Ways To Use Maintenance Data During Multifamily Budget Season

  For multifamily managers, budget season typically is not the highlight of their annual calendar. Off-sites, bootcamps, late nights, endless spreadsheets, stacks of reports for filter through...ugh. A thorough, well-crafted budget often requires us to step outside of our comfort zone and deal with personnel issues and other things that personally impact people we work with/for. If this isn't challenging enough, the budget proposal is just the first step. It is most often followed by upper management/C-level/board review and in many cases, the dreaded word - CUTS. Wash, Rinse, Repeat until you get to something that works.  OK, enough of the monotony - so how can maintenance data help? Data collected within your maintenance operations can be a hidden gem when it comes to the overall condition or staffing of your property from a maintenance perspective. Here are four of our favorite areas to dig in:   1. Maintenance Categories/Tags   Most property management software tools do a very good job of enabling categorization of requests. Analyzing and sorting work-orders/service-requests by maintenance category (some systems refer to this as "tagging") can provide a treasure-trove of information during the budget process. Based on multifamily industry data, the average 300-unit property generates average of 150 resident service requests per month. Add another ~50 on top of that if your sites track make-ready activities or preventative maintenance. Over the course of a year, or even just 6-months, there is a lot of harvest-able information when budget-time rolls around. Export them into a spreadsheet ......
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Implementing Behavioral Assessments - What Will It Do For Your Company?

Implementing Behavioral Assessments - What Will It Do For Your Company?
Say no to interview intuition and use behavioral science to make an objective call.  Once upon a time, I was hired as a recruiter for a high-end employment agency. It was a positive experience and I did well in my position. I had a strong team of coworkers, so I was surprised to learn that they had implemented a personality test for new hires at our company. I was immediately curious and asked if I could take the test. Afterward, I was told I had “failed”. My manager laughed when I asked, “Failed what? Are you telling me I have no personality?”   She had no answers for me and simply said to stop worrying about it.  What was the meaning of this silly test? Turns out it wasn’t the job for me. I’m easily bored and need exciting experiences to keep my attention. Hunting for CFO’s and accountants wasn’t engaging for me unless I was able to steal them from another company and make a lot of money doing it. Yet, even that high was short-lived for someone who thrives under stress and excitement. This is probably why I love the always adventurous property management industry and find myself working in it now.  Over the years, we can perform jobs that are either perfectly suited for us or leave us wanting more and lacking in productivity as we become stale. The assessment I took back then could have given me the tools I needed to find my perfect position faster, and my employers th......
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Considering Deploying Smart-Tech In Your Apartments? Read This First...

Using Alexa to request apartment service  Everything is "Smart" these days. Smart....locks, speakers, thermostats, lights, TVs, register-vents, refrigerators, faucets, security systems, cameras....the list goes on! It seems there are plenty of options in the market for multifamily apartment operators to offer "smart" amenities. So should you start adding gadgets to your apartments in hopes of attracting new residents? For a short-term spike, maybe. But what happens next year when when Google, Amazon, Nest, Apple, Iris, etc. push out new models, features and functionality and all of a sudden your tech is more of a deterrent than an attraction? Do you throw out everything you bought last year and get the next new thing? The real question here is how do you get ahead, and stay ahead with tech in apartments. And, how to you get Residents to consider your brand "tech-forward"?  You might consider changing the lense of how you look at the problem. Said another way, how can your multifamily brand leverage consumer technology in a way that enables your Residents to have fast & easy digital access to apartment services from devices they already own. Things like:  leveraging SMS to communicate with residents (95% of all text messages are read by the recipient) enabling Residents to voice-create service requests using their SmartSpeaker mobile-enable your maintenance staff to speed up service-response-times and get better metrics on how your service teams are performing use chat-bots to auto-notify Residents when they have packages waiting for them at the office installing LTE-boosters to low-signal areas on your properties ......
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3 Ways Automation Is Changing The Game for Multifamily

3 Ways Automation Is Changing The Game for Multifamily
Gartner has predicted, by 2020, 85% of customer interactions will be managed without a human. This can be both a scary and exciting statistic for the multifamily industry. Based on LeaseHawk CRM user data in 2017, more than 75% of all communications to properties were handled via telephone call. With phone calls being such a personal form of 1-to-1 communication it can feel uncomfortable with the thought of a robot making a personal connection with a prospective renter on the other line. However, with the insurgence of voice assistants like Apple’s Siri and Amazon’s Alexa, the general population is getting more comfortable with talking to voice assistants. This has led to the growing trend of people expecting an instant response when they shop or search for an apartment.  Today’s renter is accustomed to having information available on-demand, at their fingertips. Property Owners and Managers are already preparing their customer service workflows to integrate automated assistants to help alleviate these challenges. And, they’re starting to see real benefits and savings for doing so. Here are 3 ways automated assistants are making properties more productive.   1. Answer Calls After Hours Leasing offices are missing calls after-hours. On average, multifamily professionals miss 49% of all calls to their properties. Many times, this is happening when the leasing agent isn’t available, or the office is closed. Have you ever asked yourself: What is happening to all those missed leads? Zillow reports that 52% of callers, especially night-owls like Millennial and Generation Z renters, will never cal......
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Rethink renter communication in today’s hyper-connected world

Electronic communication is dominating our waking hours.   According to Adobe Campaign’s third annual consumer email survey, people spend 5.4 hours every weekday checking email. Add that to the nearly two hours per day consumers spend on social networks, and that’s nearly seven-and-a-half of our 16 waking hours.   Getting consumer attention in this saturated, hyper-connected consumer environment isn’t easy. So, how can you make your messages stand out?   Data-driven personalized interactions Prospective renters are tired of having to set the same preferences and fill out the same forms over and over again in order to shop for their next home. They want to complete these tasks once and for the property managers to provide some degree of personalized interaction based on those preferences.   This expectation will be even more important when Generation Z, the next big multifamily market, reaches renting age. According to a WP Engine study, 50 percent of Gen Z consumers said they would stop visiting websites that don’t anticipate what they need, like or want.   Property managers need to utilize technology that remembers a person’s browsing history, automatically redirects a prospect to the floor plan they spent the most time on, and auto-fills their contact form or online leasing form.   Leverage advancements in social media marketing The industry has been talking about the role of social media since Facebook was a private company, which in tech time was a hundred years ago. Yet most multifamily owner/operators still aren’t leveraging social media to advance thei......
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Meet Renter Demand, Put Mobile First

The average time spent browsing on a smartphone per month in the US is 87 hours, compared with 34 hours on desktop, and more than 70 percent of total digital minutes are spent on mobile devices. Additionally, Google reports that more than half of its search queries globally occur on mobile devices.   If that isn’t enough to convince you to put mobile first in your marketing activities, nothing is. While mobile plays a significant role in multifamily business today, that pales in comparison to its role in the lives of renters. Despite this, few property managers offer mobile apps to residents so they can pay their rent, let alone run mobile-based marketing campaigns that drive leads and leases.   The good news is that making your mark on mobile isn’t as daunting as it seems. There are three primary ways you can make mobile work for you to improve prospect and resident engagement:   1. Optimize your community websites for mobile. Google announced in 2016 that it would index sites based on their mobile versions. Optimizing for mobile can be as simple as moving the site to a platform that includes responsive web design on all websites.   Several multifamily software vendors, along with most content management platforms, offer automated responsive web design that makes it easy for you to get up and running. Custom systems may require more time and effort on your part to set up, though the ROI could make the process worthwhile.   2. Create a per......
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Four Reasons Why Property Managers Must Embrace Text and Email

Text and Email      With 88 percent of residents preferring to communicate via email and 90 percent of text messages being read within 3 minutes of delivery, property managers can no longer ignore the fact that the mainstream expectations on how a resident prefers to communicate has changed. It makes sense - texting friends and family is second-nature, it’s only natural that they now prefer to communicate with their property managers in the same immediate and convenient channel. It's also minimally time invasive and gives your residents the opportunity to stay connected no matter where they are or what they're up to.Still not convinced? Here are four reasons you should seriously consider embracing text and email as a day-to-day way to communicate with your residents:Reason 1: Bye-bye Baby Boomers, hello Millennials We’re all witnessing a paradigm shift away from baby boomers and over to the future of business growth in millennials, specifically in the housing category. According to Pew Research, millennials have surpassed baby boomers as the largest living generation and are driving up the rental market every month. To meet this shift, property managers need to embrace the communication channels that this new generation has grown up with. More importantly, they must provide experiences that allow everything to be resolved on a smartphone without them having to pick up and call. This new-age group is a large percentage of the renters that will be shopping and comparing your community, and ultimately determining whether or not they want to sign or renew a lea......
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