Do you really know your renters and what moves them to choose one property over another? In the latest installment of PERQ’s Sofa Seminar Series, we’re joined by two of your peers in exploring how multifamily data can help you turn more leads into renters and advocates.
Special guests Stephanie Rubino (Owner, Rubino Consulting) a marketing consultant who works with Boyd Wilson on their digital marketing tactics and leasing strategy and Lisa Delgado (VP of Asset Management, Boyd Wilson) share actionable tips for attracting and converting more leads into profitable, lasting relationships.
Following are some highlights of that discussion. (You’ll find the full Sofa Seminar presentation at the end of this post.)
Capturing intel on stealth shoppers
We know most renters are beginning their property search early — typically three-plus months out, and mostly online. Long before you know who they are, they’re researching, narrowing options, and making decisions about your property.
With that in mind, many multifamily marketers are putting systems in place to facilitate online journeys, and also to capture meaningful insights to maximize the chances of turning those visitors into renters. Desired floor plans, move-in timelines, budget, desired amenities and other preferences are some of the insights you can capture long before prospects are willing to speak with a leasing agent.
Competing for renters’ attention, preference, and dollars
For years, many multifamily marketers had attempted to incorporate tech-driven conveniences and automated support to prospects and residents, but were met with resistance from change-verse or budget-conscious decision makers. Once COVID came on the scene, those tech advances became a necessity — a change that’s now permanent as consumer behaviors evolved to become more and more digital-dependent.
“During COVID, our two main words were ‘fluid’ and ‘pivot.’ Nowadays, they’re ‘choice’ and ‘experience,'” says Lisa. To that end, Lisa’s team uses PERQ’s AI chatbot on their website — they call it the iCare bot — to offer choices and create a compelling experience for website visitors.
Stephanie recalls a prospective renter who came to the website with questions about pets, utilities, and the application process at 10 p.m. one night. “Ms. iCare answered all of it,” she shares, referring to the AI chatbot. The idea is to provide instant support and a warm, personable touch when renters can’t (or prefer not to) interact with a leasing agent.
Identifying hang-ups, removing friction, and anticipating needs
By having visibility into how consumers are experiencing your property online channels — what’s working or isn’t, what’s drawing them in or turning them off — property marketers can get ahead of stumbling blocks that might hinder the results they’re chasing.
An AI-powered lead management system like PERQ’s makes those hidden tripping points visible, enabling you to meet renters’ expectations and give them ’round-the-clock support, without adding to your team’s workload.
Improving follow-ups and outcomes
Believing that personal follow-up is crucial for converting leads, Lisa and Stephanie note that the iCare chatbot has helped to weed out low-potential window shoppers who do need their questions answered but aren’t likely to convert any time soon (and thus aren’t the best use of leasing agents’ time).
In the meantime, lead capture and nurture automations keep those slow-moving prospects engaged and “warmed up” until they’re ready to tour and engage with an agent one-on-one. By then, agents have visibility into what that prospect wants so they’re better equipped to have a productive (and profitable) conversation. “We do train our teams to read the prospect’s conversation with the iCare bot before responding,” Lisa adds.
That’s where the human element shines, versus weighing agents down with low-impact activities or conversations that are better managed by an AI Assistant. “Our number-one reason for adopting PERQ was to be available to renters 24/7. Unless we started three shifts of leasing teams, this is how we can make it possible,” Lisa explains. “I know with 100% certainty that any digital lead coming into Boyd Wilson is being addressed, I was never able to say that before.”
Reducing marketing costs
Lastly, Lisa reports the AI lead management automation has enabled her to stop or reduce advertising spend in other channels, without hurting results. “It gives us more money to spend on other things, for sure,” says Lisa. Instead, she redirected media dollars into the automation software.
Asked what advice she’d give to fellow multifamily property marketers, Lisa recommends looking to AI: “If you want to be impactful in your business, you have to automate. No doubt. Find the right partner for your business.”
Wondering what might be possible for your own marketing efforts? We invite you to learn from the full discussion below and sign up for the May Sofa Seminar before you leave today. We hope to see you next time!