What better way to celebrate our 5th anniversary than with our first in-person Cadence Connect in more than two years? We had nearly 60 attendees (a Cadence Connect record!) at Fat Pants Brewery, and were so excited to see how many stayed for networking and conversation after the presentations wrapped up.
Our expert panel was made up of hot-topic vendors who focused on what we know about prospect search behavior across multiple mediums, what we should be delivering in the prospect and resident experience, and how to utilize content to engage and convert faster. Thanks to David Staley from Digible, Mike Whaling from 30 Lines, and Kristi Fickert of Realync for lending their expert voice and guidance on all things content.
Digible services 130+ properties in the Minneapolis/St. Paul area and David touched on local user behavior. By breaking down the various property types by class, he was able to give some key takeaways for each.
His presentation was filled with insightful data, and he suggested focusing on a year-round funnel for Class A, sticking to a balanced funnel and flexibility in the budget for Class B and a conversion-focused platform investment for Class C. Check out the full slide deck below and Digible's podcast episode for more information!
Mike Whaling, with 30 Lines, spoke about what renters are expecting right now. Renter demand is currently down about 20% YoY but noted that 2021 was a better year and more of an outlier. He reminded attendees that what renters search for isn’t always what gets them to stay, and 32% of prospects will share their contact info before ever seeing an individual property.
Previously renters were seeing 5 properties per tour, now their self-search is narrowing down those prospects to 2 properties per tour, which begs the question… is what you offer worth getting off the couch to see?
94% of renters want more information about the exact apartment they’re interested in, NOT a model layout or general view. And eight pieces of prospect communication can increase closing by 42%, so smart follow-up boosts that leasing performance. Mike's full presentation, and more helpful information can be found below.
Kristi Fickert, with Realync, spoke on strategies and reasons for upping your video game. A great statistic to pull from her presentation showed that 95% of people retain a message when watched on video vs. when they read in text format. And there is a 103% response rate improvement when video is used.
Kristi also stressed the importance of authenticity in your videos. 52% of prospects lease after 5-12 follow ups, and using video allows for personalization, an opportunity to be a resource and including a call to action. Check out her presentation below for some great assessments on current video tools, and ideas for your next video project.
Again, we want to thank our amazing sponsors and attendees for such a wonderful event. We are planning our next Cadence Connect event, so be sure to fill out our survey (link here) so we can get your feedback on format, and keep an eye on our website for future continuing education topics!