When was the last time you received a handwritten letter in your mailbox? Today’s typical home receives a personal letter about every seven weeks. According to the U.S. Postal Service the striking decline in letter-writing is “primarily driven by the adoption of the Internet as a preferred method of communication.” But unlike e-communications, handwritten notes are unique because they are capable of engaging people on a deeper level than other forms of communication.
Acquiring customers isn’t cheap or easy. In fact, acquiring new customers can cost as much as five to seven times more than simply retaining your existing customers. Shifting our focus from lead generation to customer experience sounds like a no brainer, right?
Focusing on the renewals rather than acquiring new leases is easy. Why? Because renewals shouldn’t be a last ditch effort to beg people to stay.
The months of great customer experience lead up to the renewal moment. It’s an ongoing process that starts at the point of purchase and encompasses the resident’s experience throughout their lease. Remember, it is all about the small moments.
When you read ‘communicating value’ and begin to relate that with the sales and leasing process of the apartment industry, you probably presume that you are already communicating said value to your customers and in multiple ways: advising them on how to arrange their oversized sectional, the perks of living at a XYZ community, and an exceptional maintenance team. But the questions remains: what does your current customer value and how does that set you apart from your competitors?
The Disney brand is one of the most powerful in the world! They successfully deliver their message, confirm their credibility, connect emotionally with customers of all ages, motivate their customers, and build extreme customer loyalty. Their brand resides within the hearts and minds of customers old and young. So, what happens when something gets in the way of this beautiful brand relationship? Can Disney’s customer loyalty magic trump a bad experience?
Take a moment and imagine being able to identify people willing to help you market your products and services for free. Imagine developing brand advocates who would freely spread the word about just how amazing you are. And they would do this with no strings, no trades, and no gift cards. Read More
In in previous blog, Go Ahead…Encourage Your Residents to Complain, I shared some examples of how encouraging resident complaints can improve their customer experience and increase customer loyalty. While it is important that employees make it clear that they welcome complaints, all too often they are not given the tools they need to handle complaints effectively.
Instead of asking yourself the question, “Why are our residents not loyal?”, let’s see the glass half full. Instead of focusing on all of the things that you might be doing wrong, let’s look at what you are doing right. When you identify a loyal resident, there is always a good reason behind their loyalty. Here are five reasons your residents are loyal to you.
True customer loyalty is perhaps the greatest asset a community can develop. Loyal residents are more likely to renew and—equally important—refer their friends and family. ‘Satisfied’ residents are not always loyal and there are even times when loyal residents are not loyal. Customer loyalty can be difficult to build and even harder to sustain, but when you consider the fact that the cost of attracting new residents is significantly more than that of maintaining a relationship with existing ones, you have a powerful incentive… and you could use some pretty powerful ‘glue’!
Are You At Risk of Being DUMPED By Your Residents?
Not too long ago, I attempted to contact the cable company to make some changes to my account. I was left on hold for 15 minutes listening to a recurring loop of “Thank you for holding. A representative will be with you momentarily.” So I hung up and decided to try the Live Chat option. After another 30 minutes had passed, I temporarily stepped away from the computer. When I returned a few minutes later, this is what I found on my screen: