So many multifamily communities still rely on a simple “Contact Us” website lead form, or force prospects to pick up the phone or send an email if they’re interested in touring the property. That approach often results in a lot of back-and-forth communication on what kind of floor plan the renter wants, any special needs or amenity requirements, and available dates and times that work for both the prospect and leasing specialist.
More than 80% of prospects start their apartment search online, according to data analyzed for PERQ’s new Multifamily Field Guide. They spend up to three months narrowing down what one or two properties they will visit in person before signing a lease.
Capitalize on that vast amount of time prospects spend researching communities online, and make it simple for those prospects to take the next step in the leasing process. Follow these five tips to collect higher quality leads and book more property tours:
1. Turn Your Website Into a Leasing Consultant
Meet prospects where they’re shopping and serve them the information they seek in one convenient place, such as how much money they should budget for utilities and rent and the quality of restaurants in the neighborhood.
In return, your property gathers quality personal data on each lead that can make converting them into a lease much easier when it comes time for a tour. You’ll already know what they’re looking for, and they’ll already have a good idea of what they want. It’s much more detailed lead information than the name, phone number and email address properties receive from standard static forms or internet listings.
“I consider our website a leasing consultant,” says Mary Herrold, Senior Director of Marketing at Redwood Residential, which uses PERQ on all of its multifamily community websites to collect, analyze and convert online leads. “Just like a live human leasing consultant, it needs to do its job. It needs to convert.”
PERQ’s AI-driven technology delivers prospects with interactive online experiences to help them narrow down the perfect apartment to call home by offering floor plan assessments, budget calculators, neighborhood assessments to match a prospect’s interests, a pre-qualification assessment, and an online scheduling tool for booking tours.
Herrold says she uses PERQ to train new hires or when onboarding a new property, telling them to pay attention to the questions the AI software asks and in what order, then mimic that lead nurturing process when talking to a prospect on the phone or in person.
2. Bridge the Gap Between Leads and Tours
“Since the beginning of time in the multifamily industry, there’s been a gap between lead and tour,” Herrold says. “The lead-to-tour cavern has always presented a challenge.”
Herrold credits the online scheduler tool with building a bridge to successfully traverse that costly cavern. “PERQ increases the momentum,” she says. “The commitments that are made along the experiences, they’re small commitments, but they lead up to an ultimate commitment. So, little yeses mean a big yes, and that’s the main goal.”
She says before the online option, even if a lead to agreed to an appointment, prospects often didn’t take the next step to actually schedule the tour or failed to keep their scheduled appointment with a leasing specialist.
When prospects engage with the AI-driven interactive experiences on a property website, they invest their valuable time and personal data. According to PERQ data, that makes them statistically more likely to pick that community as the one or two apartments they’ll visit in person.
Because they’ve already dedicated so much of their focus to the brand, made the no-pressure appointment on their own, and volunteered their name and information, they’re also more likely to honor an appointment they make to tour the property.
3. Prompt More Prospects to Book Tours
If a prospective renter searches for their new apartment home at 10 p.m. on a Wednesday night, you want to give them the option to schedule a tour without picking up the phone or waiting for an email response the next day. By adding an interactive calendar tool on the website that allows consumers to schedule a tour at their convenience, a community can compel more prospects to book an appointment at the property.
For PERQ multifamily clients, 15% of online leads captured by our Web Conversion Technology schedule a tour on the property website after engaging with the interactive experiences to learn more about the community.
It’s the convenience and instant gratification of booking right then that drives prospects to take the next step in the leasing process, whenever they’re ready to move forward and tour the community in person.
4. Focus on Quality Leads for Best Lead Nurture
In our experience working with PERQ clients and studying industry data, high-quality traffic gives properties a higher probability of conversion. Collecting more detailed and robust lead information increases the likelihood those online leads will convert into signed leases.
From an efficiency standpoint, leasing agents should spend their time engaging and following up with quality leads that can convert, as opposed to chasing unqualified leads that take up more time.
Properties can use a CRM to sort and prioritize leads based on when they say they’re ready to buy.
5. Measure Online Traffic & Lead Conversions
A multifamily community can increase the quality of their online traffic by measuring the sources they utilize to drive traffic. Google Analytics is a helpful tool for analyzing your traffic to see which channels drive the most online leads and the most conversions.
When paired with PERQ’s own tracking software, anonymous leads in Google Analytics transform into identifiable leads who can be followed across devices, multiple viewing sessions and different touchpoints on their leasing journey.
It’s important when tracking online traffic to set benchmarks and goals at the beginning, and regularly check the data to ensure things are headed in the right direction. Be prepared to tweak your online approach as you review the results, compare them to the conversion goals you set and measure which traffic source is performing the best.
By investing in AI-driven technology, properties can collect higher quality leads, entice more online prospects to book tours, and convert more leads.
“It’s certainly increasing conversions,” Herrold says.
Additional Multifamily Resources
- Learn three ways to increase occupancy in your apartments.
- Listen in on the best video practices and transitioning to virtual property tours to get more leases.
- As online leads continue to increase, how does one use automation to sift through it all?
- Make your website the top lead and leasing source with PERQ’s multifamily renter software.