Measuring Value in Your Tech Stack2 min read
There was a time where maintenance requests were filled out on carbon copies and leases were signed on printer paper. Today we have electronic request forms, virtual touring, and online applications. The Multifamily world has come a long way when it comes to tech. There’s constantly newer tools coming to market and claiming to do what digital tools are supposed to do — support your team and get results more efficiently.
While many companies are rediscovering old digital tools and exploring new ones, it’s important to know if your tech stack is working for you or against you. Dalia Kalgreen, Director of Marketing at Unified Residential, evaluates her properties tech stacks monthly to make sure that there is value there.
When she evaluates the digital tools being used she looks at three factors:
- Lead Volume
- Tour Volume
By breaking it down, Dalia is able to see how the tech stack is creating, or in some cases, taking away value from the on-site teams.
A lot of the tools that multifamily properties use tend to have some sort of pre-qualified factors in them — but that doesn’t mean they all do. When a property is having trouble with leads, touring or application volume, Dalia goes through and sees every touch point of that lead, from beginning to end. She does this by property and by region once a month to get a full scope of what tools are helping secure leads and which ones are not. Looking at each individual lead is time-consuming but it helps her measure the value in the tools they’ve invested in.
Dalia emphasizes that it’s important to do your research into what the best tools are and to constantly ask yourself “does this benefit your team?” and “does it help ROI?” Checking on your tech stack frequently and seeing how those tools interact with your team and with leads will help you measure the value of the tools you have. Multifamily properties have come a long way from carbon copies and the digital tools that have come along the way need to be working for you and not against you.
If you want to read more of Dalia’s tips, click here to catch up on Doubling Down on Digital.