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CRM and Call Analysis: A Powerful Combination

As an apartment operator, you need to be thinking every day about how to help your leasing associates drive lease conversions. You can outfit your community with all of the modern, in-demand amenities and create dazzling marketing campaigns, but if your leasing teams aren’t converting leads into new residents at an acceptable rate, your portfolio is running against the wind. And when it comes to boosting those conversion rates, operators will find the one-two punch of a customer relationship management system (CRM) and leasing call analysis very hard to beat. Putting the Solutions in Action In January 2019, one of our customers that manages about 30,000 units implemented a CRM and a leasing call analysis program to maximize its lead-to-lease conversion rate. The two solutions made an immediate impact. The company’s overall lease conversion rate rose from 4 percent in January to 8 percent in February and jumped to 11 percent two months later.  In addition, two key metrics also changed: Managed Leads: This measures how well leasing associates are following the CRM playbook with each prospect. The score rose from 54 percent in February to 81 percent in April.  Shop Score: This measures the call quality on inbound leasing calls. The score rose from 58 percent in February to 66 percent in April.  The gains are the result of several improvements to the company’s leasing efforts derived from the implementation of the new technologies. First, the CRM provides associates with a “playbook” for each and every lead that comes into the syste......
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Multifamily Properties Face Challenges as Technology Transforms Industry

Technology is developed to improve our lives or businesses, make tasks quicker and more efficient, facilitate better communication or solve a problem. Ironically, implementing new technology solutions often introduces other challenges or exposes existing issues with a business process.   Property management companies can collect more online data than ever before from prospects researching apartments, but is your CRM system set up to log and organize complex data beyond basic contact information? If your properties offer renters the option to receive text messages or schedule a tour online, do leasing specialists get notified immediately so they can facilitate the on-demand response consumers now expect?   Providing advertising and marketing services to property management companies for over 25 years, Bob Romine says he’s witnessed massive changes in both the marketing and multifamily industries, from how people communicate to how businesses utilize online data. As founder of R.C. Romine & Associates in Geneva, Illinois, Romine works predominantly with property management clients to ensure they’re addressing those business problems and consistently improving their digital marketing results.   He describes the two most common pitfalls companies encounter when trying out a new technology: 1) they don’t put into place the right business processes and supporting technology to handle a new way of doing things, or 2) they hold onto their established attitudes about digital marketing and fail to see the benefits of adapting to technological innovation.   “There are a lot of clients who are not set up for it, who aren’t really quite ready for a cha......
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“I don’t have time to be strategic about my follow-up”

Introduction Time is a funny thing. People are living longer than ever before due to medical advances, yet somehow we have less time in the day to get everything done. We are running around left and right without being able to stop and think about where we really want to be running to. Having the time to be strategic about your actions is becoming an elusive idea. Just think about eating dinner on a weeknight. If you are anything like us, it is not a well-planned, homemade meal. It’s a smorgasbord of things from your fridge dumped in an instant pot, or a fresh from the microwave courtesy of Marie Callender’s. Now, we understand cooking a full meal is simply not in the cards for most people; however, that doesn’t mean you can’t be more strategic about what you eat. Services like Postmates solve this dilemma. Now, you can get real food delivered to your doorstep exactly when you want it. With Postmates, each family member gets the meal they want, when they need it and you can spend more time enjoying your family rather than throwing together a meal. So how does this relate to multifamily?   Prospect Prioritization Most property management companies (PMC’s) have agents manually sort their leads every day. Agents would need to set aside 30 minutes to 2 hours to thoroughly sort through their leads every day depending on the side of your property. This means most agents are forced to either follow up with a lot of pr......
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The Hottest Marketing Tech You Need for 2017

The Hottest Marketing Tech You Need for 2017
As we prepare to flip the calendar to 2017, the new year is accompanied by hints of a softening apartment market. That means you might have to find new ways to differentiate your communities from your comps as leasing season approaches. There are a host of new technology options hitting the market that you’ll need to drive success in the digital world. While some might not fit your particular portfolio or community, others might be just what you need to get a jump on your competition.  Here are a few innovative tech tools that might help: Customer relationship management systems (CRMs). These systems help you create a centralized database of prospective renters and residents. Not only can these systems capture important contact information, they can also help you capture additional data points that provide you the ability to more narrowly define and segment your audience later on. This makes email marketing infinitely easier and more effective as a leasing and retention tool. These systems are also set up to work with sophisticated marketing systems, such as marketing automation. Which leads us to our next tech tool. Marketing automation. This software can help you create scalable and much more strategic marketing campaigns. These systems integrate with CRMs and allow you to create dynamic lists (say goodbye to excel spreadsheets and list uploads!) as well as create triggered events based on how prospective renters or residents engage with your digital content. For example, if you send out a critical notice to residents at a......
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Small Talk, Dirt, and Seagulls: A CRM Story

As level-headed mature adults (or so we hope), we’ve all been well versed on what conversations are all-around “safe” topics. Pets, traffic, food, the weather—all generally pretty dependable for drama-free, low-risk chitter chatter. They’re your guideposts when there’s a need to look socially competent, without requiring a terrible amount of creativity or concentration. In fact, a person who chooses to display any form of strong emotion during an episode of small talk is generally despised.

Within the vast sphere conventional corporate America, customer relationship management (CRM) is another topic that is highly prevalent, granted little consequence, and in many circumstances, can be painfully dull. But the thing is, we’ve got to know this stuff. Effectively managing client interactions can make or break your company—just ask Zappos.

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