AI technology continues to change how multifamily properties conduct business, both internally to track leads and analyze data and externally to communicate with rental prospects, but the successful launch of one technology often presents a whole new set of challenges.
Before rolling out an AI-powered solution to capture more online leads or improve digital advertising results, a property management company must first ensure it can properly nurture that influx of leads without burdening an already taxed team of leasing specialists. They’re often the first and only people whose prospects interact with one-on-one when seriously considering an apartment option, so it’s best to use their talents and time wisely.
“Property staff is always busy, and most always behind on something,” says Keir Schutte, owner of KP Consulting Services, which works with multifamily companies to achieve a variety of business goals. “Sadly, as much as everyone complains about occupancy, lead management always seems to need improvement. I think that it’s important to automate anything you can for your properties.”
Artificial intelligence automates the lead nurture process on a property’s website by guiding a prospective renter through the online research phase while collecting their lead information as they engage with the website’s interactive tools to learn more about the community. AI technology can then take the lead nurturing process one step further by utilizing the captured data to automatically communicate with prospects and nurture online leads across multiple channels, such as email and texting.
More Prospect Data Drives More Personalized Approach
An AI-powered lead nurture solution uses a prospect’s own profile data to personalize all digital communication, using their name and remembering them every time they engage with a property, and serving up email and text content that’s customized to their unique preferences and search behavior. A lead nurture campaign can include dozens of different email or text templates and more than 100 different workflow triggers to deliver a truly personalized approach.
AI technology tracks users across platforms to deliver a cohesive consumer experience that makes prospects feel like the property staff already knows them and saves them time as they narrow down where they want to live. They’re never forced to start their search from scratch, and leasing specialists know so much about them before they ever show up for a property tour.
“By using AI, you are making sure the customer is acknowledged immediately, for one,” Schutte says of the benefits of employing an AI-driven lead nurture technology. “In addition, you keep the customer engaged and they’re able to find out more information.”
The goal of the lead nurture content is to drive prospects back to the property website to re-engage with the online tools or book a tour through an online scheduler, which ultimately results in more tours, more return website visitors, and more website engagement to increase online lead to lease conversions.
Target Leads in Different Stages of Renter Journey
The majority of online leads aren’t quite ready to rent, and those leads at the bottom of the prospect funnel who want to sign a lease now can cost the most to target through digital advertising. An AI-powered lead nurture solution reduces a multifamily company’s dependency on leasing agents to follow up on every lead when it first comes in.
By collecting detailed lead data on every prospect who interacts on the property website, your leasing staff can easily segment leads and focus energy on the renters ready to rent right now while the AI technology automatically nurtures those prospects who are still months away from moving. It also means leasing specialists can adjust messaging and their approach based on which phase of the renter journey a prospect indicates they’re in.
Build Relationships with Prospects through AI Lead Nurture
While it may seem counterintuitive to use technology to build authentic relationships with customers, AI is the piece that makes it possible to enhance a prospect’s experience with your property management team — even before talking to anyone in the leasing office. You’ve given them the information they were seeking online, continued to touch base through technology as they research their options, and your leasing staff knows everything they want in a property when they finally reach out to take a tour or sign a lease.
“It allows us to offer an enhanced experience for the customer and provides us with the data of those interactions to help our teams ensure a better experience,” says Jenny Richard, Director of Marketing at Gene B. Glick Company, one of the largest privately held real estate management and development firms in the U.S. “It aids our teams in moving away from collecting customer information in a ‘checklist’ approach, and instead allows the team members to already have this information and utilize it in a conversational way to make a connection.”