Whether you love it or loathe it, the challenge of getting leases signed in the eleventh hour is often a hefty one. Thankfully there are proven tactics for generating traffic and closing leads that your leasing team can put to work immediately.
For lots of sharp ideas, traditional and otherwise, check out these highlights from our latest #AptChat. (Click on the links to jump straight to a specific question.)
- Q1: What are the first things you typically do when you need to get some quick traffic in the door?
- Q2: What are some of your best ideas for closing current leads already in the pipeline?
- Q3: Are you typically offering any kind of extra concession or incentive to close your traffic?
- Q3a: And does your offer change/get more aggressive as you continue to follow up with a prospect, or do you keep the same offer?
- Q4: How do you improve on the campaigns that work? Do you have a process for sharing ideas/recognition with sister properties?
What are the first things you typically do when you need to get some quick traffic in the door?
A1: Pull a prospect report and start follow-up. #aptchat
— Gino (@Gino_Blanco) August 2, 2016
@Gino_Blanco Try to pull these from same time a year ago. People who toured but rented elsewhere will have a lease expiring soon! #Aptchat
— Kristi Fickert (@Marketing_Mommy) August 2, 2016
@AptChat Depends on the market, but typically pull from around October the previous year, to todays date. #aptchat
— Gino (@Gino_Blanco) August 2, 2016
A1 Go back to the low hanging fruit & follow up. There’s always another lease on the other side of follow up! #aptchat
— Melissa D. White (@iAMMelissaD) August 2, 2016
YES @iAMMelissaD! Easiest way to get leases is to show people you want their business #aptchat
— Holli Beckman (@Apartmentalist) August 2, 2016
@Apartmentalist @AptChat Teams must be proactive, not reactive. Don’t just wait for leases. Nurture them! #AptChat
— Melissa D. White (@iAMMelissaD) August 2, 2016
@AptChat Quick & QUALIFIED? I went to my 9-month files. Didn’t lease w/ me but coming up for renewal elsewhere. #aptchat
— Lia Nichole Smith (@SatisFactsLia) August 2, 2016
@SatisFactsLia @AptChat Great suggestion to look at 6,9&12 month prospect files and reports for that period since they’ll be looking soon.
— Melissa D. White (@iAMMelissaD) August 2, 2016
A1 – I see some communities paying for people to stand on street corners with catchy signs to create local awareness #aptchat
— Jonathan Saar (@JonathanSaar) August 2, 2016
@JonathanSaar Sign spinning? I like it! #aptchat
— Gino (@Gino_Blanco) August 2, 2016
@Gino_Blanco We have some beautiful communities in our area that use this successfully #aptchat
— Jonathan Saar (@JonathanSaar) August 2, 2016
I go for Giving Them Something to Talk about when we need traffic. Party, Resident Charity Drive, ask for Referrals #AptChat
— Mindy Sharp (@MsMin) August 2, 2016
A1: Try using live video to push a particular unit or drive traffic. Social is powerful. @TFJGroup moved a lot of units doing this! #AptChat
— Kristi Fickert (@Marketing_Mommy) August 2, 2016
@Marketing_Mommy @TFJGroup Yes! Visual content is king! #AptChat
— Melissa D. White (@iAMMelissaD) August 2, 2016
@Marketing_Mommy @TFJGroup Video campaign why I <3 my apartment with residents touring their apts. #aptchat
— Lia Nichole Smith (@SatisFactsLia) August 2, 2016
What are some of your best ideas for closing current leads already in the pipeline?
@AptChat Call ’em! Sometimes people are left alone after 2 contacts – abandoned! #AptChat
— Mindy Sharp (@MsMin) August 2, 2016
@MsMin and always have something to share..something new or refreshed in the pitch..don’t be boring #aptchat
— Jonathan Saar (@JonathanSaar) August 2, 2016
True! Boring same old, same old doesn’t cut it with people. Time is important to them. #AptChat https://t.co/XaM8GT2wBJ
— Mindy Sharp (@MsMin) August 2, 2016
@MsMin @AptChat So true – 80% of sales are made between 5th and 12th contact! #aptchat
— Lia Nichole Smith (@SatisFactsLia) August 2, 2016
@MsMin @AptChat Yet most salespeople are afraid to follow up more than a few times. Needs to be 6-8 contacts, in order to close. #AptChat
— Kristi Fickert (@Marketing_Mommy) August 2, 2016
A2: Continue to be a resource. They’ll remember who provided the best service during their search. #AptChat
— Khara (@leftnwrite08) August 2, 2016
@leftnwrite08 And if they don’t m/i, they most likely know someone who would – and will refer! #AptChat
— Kristi Fickert (@Marketing_Mommy) August 2, 2016
@Marketing_Mommy Exactly! Exceeding customer service expectations starts at day zero … if not even before that! #aptchat
— Khara (@leftnwrite08) August 2, 2016
A2 Referral Call-A-Thon! Create a contest for team to call new move ins & ask if they have 2-3 friends & get their #s for referral #aptchat
— Melissa D. White (@iAMMelissaD) August 2, 2016
@iAMMelissaD Double referral bonus for 48hrs. #aptchat
— Lia Nichole Smith (@SatisFactsLia) August 2, 2016
@AptChat A2: Surprised nobody has said anything about remarketing ads…Stay visible!!! #AptChat
— Respage (@Respage) August 2, 2016
@Respage @AptChat This is a great point. I wonder how many companies are doing this. I would hope all! #AptChat
— Danielle C. Noel (@daniellecnoel) August 2, 2016
@daniellecnoel @Respage @AptChat It’s catching on in #multifamily but not widespread. I’d spend $ remarketing before buying more ads#AptChat
— Kristi Fickert (@Marketing_Mommy) August 2, 2016
@Respage @AptChat Agreed but for fast return, WOM moves people to act. 91% influenced by WOM, 84% take action based on WOM. #aptchat
— Lia Nichole Smith (@SatisFactsLia) August 2, 2016
@SatisFactsLia @Respage Does WOM drive people to act *now*? Those numbers work for people when they’re ready to buy… #AptChat
— Mike Whaling (@mwhaling) August 2, 2016
@mwhaling @Respage WOM is the change agent. Not only buying but action in general. #aptchat
— Lia Nichole Smith (@SatisFactsLia) August 2, 2016
A2: Also implement a leasing contest with the staff. Pull for a gift card after immediately signing a completely approved lease. #aptchat
— Gino (@Gino_Blanco) August 2, 2016
Are you typically offering any kind of extra concession or incentive to close your traffic?
A3 Often not necessary if rent is within market & your sales team connects needs w/ product value in the presentation. #leasing #AptChat
— Melissa D. White (@iAMMelissaD) August 2, 2016
@AptChat ooh slippery slope How you get ’em is how you gotta keep ’em. Get them w/ service&value or they’ll expect a bonus every yr #aptchat
— Lia Nichole Smith (@SatisFactsLia) August 2, 2016
@AptChat A3: I was taught that if you are on rev mgmt, you shouldn’t be! So if I see communities doing huge conc, I run away! #AptChat
— Danielle C. Noel (@daniellecnoel) August 2, 2016
A3: Nope! We save concessions for dire straights AFTER M/I. Crutch when the leg is broken, not just b/c it came through the door. #aptchat
— Khara (@leftnwrite08) August 2, 2016
A3: We typically do try to have a concession in place. You almost have to this late in the game. #aptchat
— Gino (@Gino_Blanco) August 2, 2016
A3: The tactic get’s more aggresive. Creating a stronger sense of urgency. Sending emails with *IMMEDIATE ATTENTION REQUIRED* #aptchat
— Gino (@Gino_Blanco) August 2, 2016
@Gino_Blanco We’re testing countdown timers in some email campaigns, and we’ve been running time-specific search/social ads, too. #AptChat
— 30 Lines (@30lines) August 2, 2016
@30lines Time-specific search? I’m Intersted in hearing more about this!
— Gino (@Gino_Blanco) August 2, 2016
And does your offer change/get more aggressive as you continue to follow up with a prospect, or do you keep the same offer?
A3a Concessions can be a crutch when not used appropriately. It’s not a substitute for relationship leasing. #leasing #bottomline #AptChat
— Melissa D. White (@iAMMelissaD) August 2, 2016
@iAMMelissaD We used to pay commission % based on rental rates -really got salespeople to try to sell w/out concessions #AptChat
— Kristi Fickert (@Marketing_Mommy) August 2, 2016
How do you improve on the campaigns that work? Do you have a process for sharing ideas/recognition with sister properties?
A4: Work to keep collateral either TIMELY or TIMELESS. Share what works, but NEVER the full execution. Keep it unique! #aptchat
— Khara (@leftnwrite08) August 2, 2016
@AptChat A4: Marketing campaigns never really end. Refine. Experiment. Keep and expand things that work. But A/B new ideas too. #AptChat
— Respage (@Respage) August 2, 2016
Our next #AptChat is slated for Tuesday, August 9, 2016 at 12 pm Eastern. In the meantime, be sure to sign up for #AptChat updates to get these recaps and more delivered straight to your inbox!