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How Leasing Teams Can Influence This Year’s Budget Season

That time of the year is quickly approaching — multifamily budget season! Multifamily communities and corporate teams are busy planning next year’s budget. That means marketing and onsite teams are eager to learn what existing tools made the cut, what new tools they will leverage, and what tools are no longer needed.

Instead of waiting to hear from corporate teams on what tools or platforms are recommended, leasing teams could advocate for their favorite or desired tech-enabled tools. After all, leasing and management teams are or will be the ones using those tools on a daily basis.

While corporate teams could comb the internet for ideas and tips, it’s always recommended that onsite teams share what really matters to them with their corporate teams. To take that a step further, prospective and current residents’ preferences also matter, which you, as a leasing professional, are the one capturing and experiencing firsthand.

So let’s dive into what we feel are two of the important topics that leasing professionals can and should focus on when advocating for tech-enabled tools in their 2022 budgets.

Data Doesn’t Lie

If you’re looking to advocate for a technology that you either want to keep or want to get for your team, equipping yourself and your team with data is a way to move the needle on the likelihood of getting / keeping that platform.

Here are a few statistics onsite teams can use to showcase why video is an integral part of the leasing process to corporate teams:

  • Videos are shared on social media 1200% more than images and text combined. Video is a proven way to market your communities better with real, authentic, and engaging videos. For example, show off your amenities or showcase resident testimonials so prospects can get a feel for what it’s like to live there!
  • Video content in emails can improve click-through rates by up to 300% and unsubscribe rates by 26%. Adding in a quick video to emails is how you can increase your conversion rate and response rates!
  • 67% of people want more businesses to offer virtual tours. When prospects move from another state or are busy professionals, virtual tours are not only needed in the leasing process but they’re desired. Consumers want and desire virtual tours more than ever before. And if your community doesn’t offer virtual tours, you may miss out on capturing a lead that otherwise might have converted.

Prospects’ Preferences Matter

Let’s pause for a moment and acknowledge that in-person tours are still a preferred method of touring; in fact, 85% of on-site teams prefer in-person tours, according to Multifamily Sharespace. However, the combination of in-person tours and virtual tours is a leasing strategy you should try! Sending a few videos of your different apartments prior to the in-person tour can eliminate unneeded time touring for both parties if they aren't interested in a certain layout! While some prospects will certainly prefer only in-person tours, teams are doing a disservice to prospects by not offering a variety of touring options! And actually, 2 out of 3 prospects want more virtual tours.

Did you know 72% of consumers would rather use video than any other channel to learn about a product or service? So next time you send a follow-up email to a prospect, try to include a quick video recapping everything the prospect just saw in-person to increase the chances of them responding, or maybe even signing the dotted line.

Prospective residents want a personalized experience. 66% of consumers say encountering content that isn’t personalized would stop them from making a decision. 

Leasing teams, if you’re real, authentic, and transparent with your prospects, you can truly empathize with your prospects’ pain points. Therefore, you can position yourself to be the main source of truth when it comes to knowing the ins and outs of your property and neighborhood. Be the storyteller of your property — what’s the background? Why is this place so special to you? Why did you choose to work at this specific property? Stories resonate with people, so tell them!

At the end of the day, fighting for something you believe in shouldn’t be hard. Pull together the data, match that up with the demand and need from your prospective residents and take that to your corporate team to advocate for the tech-enabled tools that you know will make your life easier. Hopefully, some of these statistics can help make your argument stronger!

 

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