September 01, 2016
Four Ways to Convert More Leads
Leading property management firms focus on great marketing and advertising, and rightly so. Yet what comes next is just as important. Once you have prospects’ attention—oh-so-briefly—it’s critical to make the most of those precious moments.
Here are four ways to help ensure you make a good impression on potential renters and increase your odds of converting leads.
What’s Your Story?
An effective and compelling message earns trust and propels both a potential renter and owner/investor to move from one relationship stage to the next. To influence and understand your customers, you need to know what the mental triggers are that drive action, and then craft them into a strong differentiated marketing story.
Gerald Zaltman, author of How Customers Think: Essential Insights into the Mind of the Market, says that 95% of cognition happens outside our conscious brain and inside our subconscious, emotional brain. In short, our brains value stories over everything else. So when speaking to potential renters—on the web or in person—build a story around your company and the lifestyle a potential resident could enjoy at your property.
A Picture is Worth a Thousand Words
Images make an instant impression. Ensure it’s a good one by using high-quality video tours and photos to impress owners, investors and potential renters. Not only will you be able to highlight the best aspects of your building, but you can quickly communicate that your firm is first-rate and professional, and cares about investing in the property.
Using video will also help streamline operations by reducing unnecessary property viewings. And video tours, as well as 3D floor plans, can elevate the visual experience, allowing leads to imagine what it would be like to live in the building and the available unit.
Right Here, Right Now
Are you letting potential renters slip away to the competitors? If your website only encourages people to call or email, the answer is, “Yes!” By incorporating an online application, you can capture leads when they’re most interested.
Online applications also reduce errors caused by manual hand-written applications, and eliminate tedious low-value work, like faxing documents back and forth. Combine it with an automated tenant credit check, and you can convert leads to residents even faster. As an added bonus, once approved, all potential resident information is seamlessly integrated into guest cards, leasing forms and welcome letters, saving you even more time if the prospect becomes a renter.
Some people will call or email. If so, what’s your call-back time after an inquiry? 24 hours? 4 hours? Either way, it’s too long. Forbes reports that companies take an average of 46 hours and 53 minutes to pick up the phone and respond to a lead. And the sales rep who does call, only makes 1.3 call attempts before giving up and moving on.
Once you receive an inquiry, follow up quickly. If you don’t lock down a property visit, someone else will. It’s that simple. You should aim to call back prospective renters within 10 minutes—30 minutes max.
Convert, Convert, Convert
Generating leads is half the battle. Why go that far only to let them drop?
To stand out from the competition, you need to close the loop with potential residents by making it easy—and appealing—to rent from your property management firm.
If you’d like more information on how we can help you convert leads and improve your bottom line, sign up for your free account today or give us a call.