We have access to more data than ever before. An online prospect can have over 15 different touch points or data associated with their time on your website. On Season 2 of The Bridge podcast, hosts Andy Medley and Muhammad Yasin chatted with Desiree White and Colin Cloud from NE Property Management about how they have been enabling their own onsite teams to help convert online prospects into a signed lease.
The “3 P’s” that NE Property Management looks at when they see incoming online traffic but aren’t closing the deal are:
They look to see if the pricing is too high or too low, if the product they are selling is desirable to prospects and if there are any upgrades that need to be made or small cosmetic changes to their own site.
They also look at the people on the on site team. Desiree finds that listening to phone calls has been helpful as a training tool and even offers to join in on calls for support. The initial conversation is the hardest and the most important.
Conversation and Data
Looking at the incoming traffic on your website as a metric is a way that Desiree and Colin can measure if their marketing efforts are working and if so which ones specifically. This is where they both suggest having Google Analytics and training onsite teams in analyzing their ads and data to ensure that their marketing is doing its job.
Your onsite team has access to the personalized date coming from the incoming traffic on your webiste. The first conversation can’t be following the same script that telemarketers and cold callers use, it has to and can be more personalized. Using the data that your website has collected on the prospect, onsite teams can and should be having more personalized conversations with prospects.
Desiree explains, “you don’t need to act like you’re selling it to them, you’re helping them with this journey.” Lead with the details that the data gives you like the number of pets they have, the floorplans they were looking at, etc. A more personalized experience will make the prospect feel like you want to find them a new home.
[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]Analysis from PERQ reveals that rental prospects who are welcomed to a website and asked online questions about their lifestyle needs, and offered interactive tools, engage more deeply and are more likely to schedule property tours.[/vc_column_text][vc_empty_space][vc_column_text]Indianapolis, IN – March 18, 2019– The majority of consumers visiting property management websites are engaged in extensive research and are 90 days from being ready to rent, according to new data from tens of thousands of consumers on multifamily websites. The data, which was gathered and analyzed by PERQ, has significant implications for the many multifamily websites that offer a single point of interaction on their websites and aren’t engaging valuable potential prospects by showing off the property’s unique amenities, surrounding community, or giving them tools to help them in their search online.
PERQ, who are experts in online consumer engagement and behavior, found that while 45% of these consumers are deep in the research phase, and 31% want to sign a lease in 30 days, only 25% are ready to make a decision within two weeks. So, websites that are not distinguishing where a visitor is in his/her research journey, and are failing to gather data on visitors’ specific needs, run the risk of losing those rental prospects. While most multifamily websites offer a basic ‘contact us’ lead form as the only direct interface with website visitors, this research demonstrates that increasing those points of contact — by enabling visitors to choose the right floor plan, explore the local community and calculate average monthly costs — increases the likelihood of scheduling a property tour and, ultimately, signing a lease.
“Today’s average renters are not only more tech-savvy, which means they demand much more of the websites they spend time on, but they are also more likely to be ‘lifestyle renters’ who are renting out of preference versus necessity — factors that indicate that the more a multifamily website can showcase its property and engage with each individual consumer, the more comfortable that consumer will be about scheduling a tour,” said Andy Medley, CEO and co-founder of PERQ.[/vc_column_text][vc_empty_space][vc_single_image image=”30712″ img_size=”full” alignment=”center” qode_css_animation=””][vc_empty_space][vc_column_text]PERQ’s data also reveals that, of rental prospects who scheduled tours on multifamily websites, 72% also interacted with the site in another way, increasing the length of engagement on the site to an average of 12 minutes and 41 seconds.
Nolan Real Estate, a management company with properties in Illinois, Kansas, Missouri and Texas, is experiencing improvement as a result of amping up engagement on their websites. “If a prospect engages with multiple experiences, we are winning the hardest part of the digital battle,” says Caleb Bartlett, Digital Sales and Media Manager with Nolan. “We have increased the likelihood of them taking that next step in the sales cycle.”
Key Multifamily Online Consumer Data
- 45% are in research mode – 90 days before they are ready to rent
- 31% are ready to move in a month
- 25% want to make a decision within two weeks
- Websites offering multiple consumer interactions report a 3X lift in the time consumers spend on site
- 72% of consumers that scheduled tours, also used other tools and assessments online
- Websites that interact with consumers are 6X more likely to convert traffic into a tour
Until now, property management companies have had few options to engage these research-driven consumers on their websites beyond a costly re-architecture of their website. But new tools like PERQ’s AI-driven, interactive experiences – which can be activated in 45 days or less with a single line of code – are enabling them to create a more engaging, personalized and interactive Amazon-like shopping experience that lets consumers view floorplans, check out community amenities, calculate average rental costs and more – all while asking key questions that guide them with relevance along their rental journey and into the leasing office. At the same time, it enables property managers to gather important data to fuel a more effective engagement when prospects come into the leasing office. The software is also able to identify consumers wherever they access the website so, if they used a desktop for their initial search and then switched to a smartphone and back again, multifamily websites powered by PERQ can continue a personalized dialog, never repeating experiences or asking questions twice.[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_empty_space][vc_column_text]About PERQ
Founded in 2001, PERQ (www.perq.com) solutions are used by more than 1,000 businesses in the home furnishing, auto retail and multifamily industries. PERQ’s artificial intelligence-powered digital marketing software helps clients better engage with consumers, capturing unique user data that is leveraged in personalized marketing campaigns to increase conversion and sales. PERQ’s brands have been named to the Inc. 500 Fastest Growing Companies in America list on three separate occasions. PERQ won the Gold Stevie® Award for lead generation software and Product of the Year in the Big Business Awards (2017). In 2018, the company won the Gold Stevie® Award for Entrepreneur: Founding Team of the Year and a Best in Biz Silver Award for Fastest-Growing Company of the Year – Medium. PERQ has also been named on the Indy Star Top Workplaces three years in a row (2016, 2017, 2018).
PERQ Media Contacts
Melanie Webber, mWEBB Communications, firstname.lastname@example.org 424-603-4340
Cassandra Cavanah, mWEBB Communications, Cassandra@mwebbcom.comor 818-397-4630[/vc_column_text][vc_empty_space][/vc_column][/vc_row]
[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]Interactive website technology captures detailed lead data on each person who engages with it and entices online shoppers to submit contact information. Companies can leverage consumer data to target their sales approach, change the lead management process, improve business amenities, and gain insight into what consumers want in their market.
“It gives us better information on what prospects are most interested in when looking to rent and makes it much easier for us to get the information to contact them,” says Sandy Carmin, Director of Property Management at Englert Management Corporation.
Consumer data collected on the Englert websites also led its property managers to readjust their lead follow-up process. “We have evolved in how we contact prospects. Previously, it was mainly phone. Now, we constantly monitor email to return inquiries promptly in the way they prefer to be contacted,” Carmin says. “Most inquiries ask for email returns and we like to honor that request. We prefer phone calls so we can actually talk to a prospect, but email seems to be the preferred contact method.”
Improve Your Business Based on Customer Data
Prospective renters who took the Community Fit Assessment on websites that use the PERQ Online Guided Shopping solution rank socializing with friends, being outdoors and shopping as their top three priorities when looking for a new place to live, according to PERQ’s Consumer Insights. Englert capitalized on these trends by adding renter social events at their Indiana and Illinois multifamily communities.
“We’ve increased our resident functions, such as wine tastings, smores around the fire pit, ice cream socials, garage sales, and a pet pool party,” Carmin says. “We have a property with an older demographic and they love coffee hours in our office.”
Capture Consumer Data to Customize Communications
Getting specific customer data from each website visitor enhances communication, says Sandra Dellolio, BDC Manager at Atlantic Automall in West Islip, N.Y. The dealership created website lead follow-up templates that are customizable based on information captured through online interactive experiences as well as tracking consumer data that shows where the online visitor clicked and which pages they spent time on.
“We can see they have a vehicle valued between $2,500 and $3,000 based on the trade-in tool, so we’ll mention that specific range and invite them to come into the showroom because our manager thinks we might be able to get them an even better deal,” Dellolio says. “If they looked at specific Toyota models online, we’ll use that information when we contact them.”
Use Consumer Data to Track Lead-to-Sale Conversion
Ed Massood, owner of Home Inspirations Thomasville, says his company converts close to 20% of its website leads by nurturing those consumers through the buying process with the detailed lead data captured on his home furnishings website. His New Jersey retail stores plug that consumer data into automated email drip campaigns to keep leads engaged, personalizing both the timing and messaging.
Massood also uses customer data to backtrack and see when a website lead comes into the store and spends money, or when a shopper visits the showroom and then goes home to browse the store website.
“It’s a good way of tracking the dollars these leads are generating and how those leads convert in the store,” Massood says. “The insights we’re gathering online are invaluable, from seeing what customers are looking for and making sure if we see a trend that we represent it in the store, to learning that some customers are shopping purely for price and standardizing how to respond to those pricing requests.”
Website visitors who hand over their personal information in exchange for helpful guidance tend to be more qualified, engaged buyers who are serious about making a purchase, so make the most of the details they volunteer consumer data.
“We try to understand the customers who are participating in our process,” Massood says. “They take the time to engage, so it’s valuable data from people already interacting with your brand.”[/vc_column_text][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_video link=”https://vimeo.com/297746053″][/vc_column][/vc_row]