Improve Resident Retention Through Communication
How many times have we heard that communication is the key to successful relationships?
Many times, because it’s true.
You might be communicating to your residents on a regular basis, but are you delivering your message in the way they prefer to receive it? Even if you’re sending residents messages and content, how do you know they’re listening?
To cover all bases, distribute your messages in a variety of ways — in person, by phone, with posters in high traffic areas, in email. Regular communication with residents keeps them informed and helps them feel connected, which can lead to resident retention.
Got big news, an upcoming event, a maintenance operation scheduled? Post a flyer in a common area, hang a door hanger at their residence, tell them in person as you cross paths, and post on all available social media outlets as well as your residential portal.
When residents perceive you are communicating updates and notices in a timely manner, they are less likely to get bent out of shape at changes or disruptions. Social media, email and posting through your resident portal are instant ways to communicate and have quick conversations with residents to ensure they feel connected.
Understanding Your Residents is Key to Retention
Are you investigating and understanding the thought processes of a resident and what they want to receive from your community? Do you know the difference in what they want and what they need?
They’re mainly concerned with their hot button issues, so they’re going to choose amenities that help satisfy these, but you can help determine how a customer feels about your product. When you provide amazing product with impressive amenities, excellent customer service with talented people and engaging activities that create bonds, you’ll be rewarded for your efforts with resident retention.
When residents are happy and satisfied, they are more likely to renew and extend the life of their lease longer, improving your bottom line with fewer vacant units and reduced turnover costs.
Let’s assume your efforts lead a resident to share positive feelings by word of mouth or via social media with friends and family. You can hear them singing your praises with online Yelp reviews and higher apartment ratings.
To make this organic output happen your marketing job is to manage expectations and shape perceptions. Every time you communicate with a customer use this valuable opportunity to position your message with a public relations stance. Since perception is shaped by what you read, see and hear it’s critical to consider what your marketing looks like and what words you use to influence toward your position.
How many times have you read the product reviews before making a purchase on Amazon? How many times have you checked out a restaurant on Yelp before eating there?
Most likely these voices were influenced in part by a perception of good customer service. Why is this important?
The statistics are high for the number of current customers who will help you attract new renters by sharing favorable living experiences with others, and word of mouth is a powerful marketing tool.