Today’s digitally savvy customers (users of the rental apps), and even so the not so digitally savvy customers (the ones still driving around or picking up grocery store magazines), have high expectations for customer service—and little patience for businesses that don’t meet them (hence your high turn over rates) . But many industries are not making the grade, especially when it comes to customer service personalization.
Of all industries, multi-family and single-family housing should be at the top as superior deliverers in exceptional customer satisfaction for none other than the fact that we are doing business directly out of customer's homes, but not surprisingly its failing and doing so horribly according to recent surveys.
2016 is bringing about an age of being more customer oriented and whether you make the grade or not, will determine your ultimate success as a business.
So again ...
In The New Year ... Stay Away From FREE RENT --- Whoa!! Wait??!! Here's Why:
Its never the incentive that keeps a prospects, its the person that's offering the incentive! Stop allowing the loss in income to you, disguised as "FREE RENT" to them over compensate for the continued lacks of your team.
So, the question is posed ... why continue to throw away company money disguised as "FREE RENT" when the problem was never the rent in the first place???! Great question, huh?
More and more company's are reinvesting in their net income right back into their employees and/or customer related services that cater to the needs of one of their most valuable assets - their customer.
Fads are just that ... fads - they eventually go away, new technology with better apps than yesterday will continue to pop up tomorrow and the same of apartment communities - its a new one on every block it seems to accommodate the "so-called" needs of the majority. Don't get me wrong here, I am not a hater of amenities nor of any of our societies bells and whistles, the problem is that over time, sight has been lost toward the art of exceptional customer service. Now that the spotlight is being directed back there ... we as an industry must be prepared.
Top 3 Alternatives toward FREE RENT:
1.) Deliver Exceptional Customer Service, wrapped in the art of listening, taped with some good ole need / want assessment and then lastly topped with professional guidance.
Your leasing team lost on this??? Time to get them trained.
2.) Its all in the wording! You can still say FREE RENT without actually meaning FREE RENT.
Confused??! "You can still say FREE RENT without actually meaning FREE RENT" ebook coming soon.
3.) Replace Price, with Value.
Replacing price with value will be no easy feat, especially if you're not accustomed to doing so, try a "100 Reasons To Live At Springdale Apartments" for starters.
Still confused??! "Replacing Price with Value, the Multi-Family Housing Leasing Essentials Guide" ebook coming soon.
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