Consumers have - and evidently want - more access to their brands than ever before.
With a saturated market of choices, accessible any time of the day from their mobile devices, buyers have a larger menu to choose from when shopping around, and consequently, have more to sift through when choosing their vendor of choice.
That’s why recent studies show that consumers in fact want to hear more from the brand they follow.
Just on their own terms.
Taking this principle to heart, connecting with current & prospective residents - both in good times and in bad times - gives brands and buildings often-unseen opportunities to turn positive, and even negative, resident experiences into ones that create resident promoters of your building’s brand.
Need proof? Here are just a few stats you should know about when considering the importance of communication with your residents
1.) 70% of buying experiences are based on how the customer feels they are being treated. (McKinsey)
Good relationships between a prospective resident & a property don’t begin once the lease is signed or the door is unlocked on move-in day; it’s the first time they make contact with your property.
While this might seem like common knowledge, properties must also understand that these first interactions happen many times before they even walk on to the property to tour a unit. Coming across a promoted or suggested picture of a property on social, or walking past a building with “New Lease” signage draped around, often are the first touchpoint between the two parties. Ensuring new customers are treated with care & consistency in voice & branding will go a long way in taking a potential new lease across the finish line.
Ok, so this may be cheating because it’s a double-stat - but nonetheless they’re important ones. Thanks to technology, buyers have more access to brands than ever before - whether it’s over the phone, by email, seeing social posts or even texting with a potential property, giving residents a bevy of options to choose from when contacting you will only benefit your building’s cause.
But remember: Consistency is key. Lean on key messaging to keep the communication you send to current and prospective residents on a similar plane. Because in the end, they’re not talking with Stanley from customer service or Julie from the social team - they’re speaking with your building.
3.) 77% of consumers want companies to contact them with proactive service notifications (Microsoft State of Global Customer Service Report)
Me: Hm I’m hungry for an apple.
My grocery store: “Here, try one of our 17 varieties. And be sure to check out 25 different kinds of peanut butter to go with it.”
The beauty of a free market means consumers get choices. And because of that, they expect that the brands - or buildings - vying for their attention serve up the best deals possible to them without having to search high-and-low.
Trying to woo a potential resident? Make sure to put your best foot forward. And if it’s a current resident, you better believe you should be doing the same. And while it’s a no brainer to be sending new lease promos to a renters, being sure you’re sharing lesser-known advantages of being a resident to current tenants (e.g. exclusive neighborhood discounts, how to reserve an amenity space, etc.) will be met with open arms by those living there.
4.) Push notification open rates are on average 30-60% higher than industry standard emails. (Xtify)
“The medium is the message.” Have we used this quote in previous blog posts? Yes. Should you ignore it because we keep talking about it? Of course not.
Studies find that consumers spend more than five hours on their phones these days. That is a LOT of time looking at their phones - and more importantly, 85% of that time is spent in apps. You can’t refute that emails are still a trusted tool for professional communication, but for the everyday consumer, outside of texting, there is no better way to communicate than through push notifications.
5.) Tenants who are satisfied with property management are three times more likely to renew their leases. (Kingsley)
Let’s bring this back to the main point: Residents want to hear from their building. They want their property to be helpful. They want them to be consistent. And they want to be reached - just on their terms.
And if you can check those boxes, studies show you just might be seeing a few more lease-renewals on your desk come next year.