Why Multifamily Properties Should Use Multi-touch Lead Attribution

Why Multifamily Properties Should Use Multi-touch Lead Attribution

[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]Multifamily property companies historically focused on first-touch lead attribution. Before the internet, the renter’s journey was fairly limited and linear so that model made sense. Multi-touch lead attribution better reflects a renter’s behavior nowadays, delivering a detailed look at the many ways a consumer discovers and communicates with your properties; as well as which touchpoints compel them to lease.

 

By analyzing this more accurate data, companies can optimize marketing budgets and learn how to convert more leads.[/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]

Multi-Touch Lead Attribution Gives Properties Big Picture

[/vc_column_text][vc_empty_space][vc_column_text]“Multi-touch lead attribution helps you to understand the holistic view of how all of your advertising and exposure contributed to that journey, because it’s not always super-linear,” says Todd Katler, CEO of Anyone Home, which develops scheduling and CRM (customer relationship management) software alongside customizable analytics and workflow platforms to serve the multifamily property industry.

 

It’s important to understand the path to conversion follows a nuanced and multi-faceted trail. It’s very rare that renters only search one apartment or condo website. They do hours of online research through multiple channels before contacting a leasing office.[/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_video link=”https://vimeo.com/297746053″][/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]

Quantify Cost of Lead Acquisition with Multi-Touch Lead Attribution

[/vc_column_text][vc_empty_space][vc_column_text]“Multiple touchpoints are key to converting at a rate that provides enough leads for sustainable occupancy,” says Katrina Greene, senior property manager at Sheehan Properties based in Indianapolis.

 

In a perfect world, Greene says she wishes her lead management software allowed her to specifically designate leads as an “information” source and an “influencer” source. Right now, the CRM they use identifies a primary lead source and a secondary source, without giving any weight to how each played a role in converting the lead to a lease.

 

“I wouldn’t consider that multi-touch lead attribution,” Greene says. “I think the consumer’s experience and process typically require them to have both [information and influencer] sources in order to get a conversion.”

 

She gives examples of a prospect who finds information on an ILS but uses social media as an influencer, or finds information on the property’s website but it’s the interactive experiences on the site that convince the person to sign a lease.

 

“Marketing options and consumer behaviors continue to evolve, but marketing budgets are staying relatively close to the same,” Greene says. “It’s helpful to have a way to quantify the importance of both sources during the buying process. Information plus influence equals strong leads.”[/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][/vc_row]

What Lead Follow-Up Advice Do You Offer your Sales Staff?

What Lead Follow-Up Advice Do You Offer your Sales Staff?

[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]Regardless of which digital tools your company uses to maximize lead conversions, successful lead nurturing strategies all boil down to personalization, timing, and being helpful and courteous.

 

“I think the key is speed, transparency and being kind,” says David Kain, an automotive internet marketing expert who sold cars for 20 years at his family’s dealership. “If you are nice and give them the information they’re looking for, people are so grateful.”

 

Don’t let your sales teams be lost when it comes to lead follow-up. We asked the pros: What’s your best lead follow-up advice?[/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]

Personalize Your Interactions with Consumers

[/vc_column_text][vc_empty_space][vc_column_text]A: “My teams keep each other informed about conversations surrounding the prospect’s needs, wants, and about their general situation,” says Katrina Greene, the Senior Property Manager of Sheehan Property Management. “I think people love it when they walk in and say who they are, and anyone in the office can say, ‘Oh, you’re the one with the dog named Taco.’ I love that. It gives them a sense of personalization and immediately lets the customer know our communication between team members is on point.”

 

Greene also stresses communicating with clients before, during and after tours using text messaging to convey small snippets of information, because that’s how people communicate with friends and family in their daily lives. Plus it’s less likely to be as disruptive as getting several phone calls or getting lost in the shuffle like most sales-driven emails.[/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]

Communication on the Customer’s Terms

[/vc_column_text][vc_empty_space][vc_column_text]A: “No matter what stage of the buying journey they’re in, it’s all about communicating with the customer on the customer’s terms,” says Frank Lopes, vice president of FB Digital and Forrest & Blake Marketing & Advertising. “If they say they’re more comfortable with email, then you email them back. More comfortable with text, you text them back.”

 

“What you want to do is always try to convert them to the next level of engagement. You always want to try and make the engagement as personal as possible,” Lopes says. [/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]

Follow-Up within 24 Hours

[/vc_column_text][vc_empty_space][vc_column_text]A: “If you don’t invest in your team and emphasize that it’s important to reach out to these leads and explain how to do it, [lead generation solutions] are a waste of money,” says Jordan Barrick of Quality Furniture. He says his store’s furniture and appliance salespeople are expected to call online leads within 24 hours to introduce themselves, offer assistance, and let them know they’ll also be receiving an email follow-up, “otherwise they forget they filled anything out online.”[/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][/vc_row]

How Can Artificial Intelligence (AI) Enhance the Lead Nurturing Process?

How Can Artificial Intelligence (AI) Enhance the Lead Nurturing Process?

[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]We asked several industry professionals about using artificial intelligence (AI) to improve the lead nurturing process. Here’s what they had to say![/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]

Collect Detailed Consumer Data

[/vc_column_text][vc_empty_space][vc_column_text]Jordan Barrick, vice president of Quality Furniture in Texas: “Getting the data of the customer is the most successful part. Shoppers who engage with his website’s interactive experiences, such as taking a design style quiz or checking special offers, give the retailer valuable lead information beyond an email address or phone number.

 

“We know what stage of life they’re in, their income bracket, what they’re shopping for,” Barrick says. “And, we’re getting that without ever talking to the customer, so my sales team can hit the ground running.”[/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][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]

Online Interactions Should Feel Authentic

[/vc_column_text][vc_empty_space][vc_column_text]Elaine Kephart, a trainer and expert sales consultant for the auto industry: “Completely built out, AI is everything that you want it to be if you had the ideal salesperson on the other end responding to your internet requests, your chat box or your text leads,” says. She stresses that while helpful, interactions facilitated through technology must come across as authentic and personal.

 

Kephart advocates sending personalized video messages to leads as a way to stand out and create a personal connection. “AI can help with that initial point of contact, but it’s important to create enough value when responding to [leads] or re-engaging them.”[/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]

Offer an Engaging Website to Build Consumer Trust First

[/vc_column_text][vc_empty_space][vc_column_text]“Start the conversation online, and utilize your website as your best, first salesperson and relationship-builder,” says Kelly Olsen, a senior account executive at PERQ. “Offer engaging experiences and thoughtful educational points, those are the types of things consumers ultimately want and have come to expect when shopping online.”[/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]

Nurture Throughout the Customer Journey

[/vc_column_text][vc_empty_space][vc_column_text]Jason Pires, CEO of Furniture Branding, a California marketing agency that recently started offering marketing automation services: “We’re able to deliver a more personalized experience that’s customizable to each customer’s journey. We nurture them during this process. It gives us the intelligence to know what they need and when it’s the right time to sell to them.”[/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][/vc_row]

Lead Nurturing Advice from Industry Pros

Lead Nurturing Advice from Industry Pros

[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]Even as advancements in technology and digital marketing transform the way retail companies track and follow up on leads, the basic elements of lead nurturing stay the same.

 

The fundamentals of good lead nurturing advice stand the test of time and apply across a number of consumer industries. Whether you’re selling cars, sofas, or leasing apartments and condos, it’s best to use a personal approach to deliver a timely message that’s helpful and guides the prospect down the sales funnel.

 

While those sales tactics remain the foundation of good lead management, businesses are tapping into technology solutions such as AI and marketing automation to enhance their lead nurturing strategy and increase profits.

 

Marketing research data from the past several years prove it pays to establish a well-planned internal process for following up with leads. Businesses that excel in nurturing leads generate 50% more sales at a 33% lower cost, according to multiple marketing studies.

 

We talked to several high-level professionals to gather lead nurturing advice, focusing on the technologies and marketing techniques they employ to make a sales strategy more efficient and effective.[/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][/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][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]

Keep them Connected with Multiple Touchpoints

[/vc_column_text][vc_empty_space][vc_column_text]A: “It’s critical to have quick, thoughtful and concise follow-up with all prospects to keep them connected to our brand during the sales process,” says Katrina Greene, senior regional manager at Sheehan Properties. “Having multiple touchpoints between the lead origination and the phone call or tour shows the prospect that we bring our ‘A’ game in every way.”[/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]

Don’t Bug the Consumer

[/vc_column_text][vc_empty_space][vc_column_text]A: “For years, all of the responses in our industry were fairly blunt-forced. They’d contact one lead five times, which might be OK if they’re moving next week but otherwise it’s far too aggressive,” says Todd Katler, CEO of Anyone Home, which develops CRM (customer relationship management) software for multifamily property companies so they can track inbound leads, establish a workflow for nurturing those leads, and assign follow-up tasks to specific sales team members.

 

Problems arose because the communication wasn’t contextual, Katler says. “It’s about understanding how [the buying] stage and timing should influence communication, allowing you to deliver the right message at the right time,” he says. “Just be friendly and helpful until they need you. Put a system in place to manage those communications so you’re not constantly bugging that customer.”[/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]

Offer an Engaging Website to Build Consumer Trust First

[/vc_column_text][vc_empty_space][vc_column_text]A: “Start the conversation online, and utilize your website as your best, first salesperson and relationship-builder,” says Kelly Olsen, a senior account executive at PERQ. “Offer engaging experiences and thoughtful educational points, those are the types of things consumers ultimately want and have come to expect when shopping online.”[/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]

Use Automation to Make Follow-Up Easy

[/vc_column_text][vc_empty_space][vc_column_text]A: We’ve created an automated but personalized system, where leads get nurtured automatically,” says Courtney Guggenberger, a PERQ product marketing manager who helped implement a 90-Day Lead Nurture Program for home furnishing retail clients. The automated email drip campaign delivers personalized messages with targeted, helpful content and incentives to website leads. The leads are segmented by when the consumer said they’ll be ready to buy and the messaging workflow reflects where they’re at in the sales funnel. [/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][/vc_row]

Beware of Inaccurate Lead Data

Beware of Inaccurate Lead Data

[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]Property management companies are often surprised to discover how often a consumer starts looking at one property only to sign a lease at another property within their same portfolio. It’s why Todd Katler, CEO of Anyone Home, stresses focusing on prospects versus properties when collecting data.

 

“It shows how people are moving between their assets,” says Katler, who estimates properties see between 18 and 44 percent of prospects who do just that (depending on the density of the property portfolio).[/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]

Is Your Data Really Accurate?

[/vc_column_text][vc_empty_space][vc_column_text]Many basic CRM systems log those type of leads as separate prospects, when it’s really the same person looking at multiple properties within the same brand. While the industry had a hunch this happened, “it hasn’t been visible until now,” Katler says.

 

Katrina Greene, senior property manager at Sheehan Properties, points out another common flaw of tracking multiple leads within one system: human errors. “Having a CRM is a blessing and a curse,” Greene says. “As decision makers, we want so badly to be able to rely on our data. But the fact of the matter is the person entering the data is oftentimes the least concerned with its accuracy.” [/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]

Don’t Underestimate the Power of Data Audits

[/vc_column_text][vc_empty_space][vc_column_text]Katler agrees this is a problem across all CRM and lead management systems. Anyone Home tries to mitigate as much inaccuracy as possible by running external audits on the data and writing in code to fix input errors, like using fuzzy logic so “Rob” and “Robert” aren’t listed as two separate people if they came from the same source.

 

Ultimately, it’s about using the data to provide some clarity into lead attribution and delivering a level of accuracy that gives multifamily property companies confidence in their decision making.

 

“You want data to be actionable, because that’s all that really matters,” Katler says. “Most sales or leasing positions are on a quest to try and satisfy unlimited requests with limited resources. A good CRM helps guide them to take the right action with the right customer at the right time.”[/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][/vc_row]