The leasing process is tough to perfect (maybe even impossible!) - especially with the ever-changing factors of new technology and automation, the addition of AI, staffing changes, market demand, and lead generation. Not to mention the marketing efforts that fill the pipeline! Marketers and leasing teams alike are aware of potential friction in the prospect experience, but few have time to fully audit from end to end and record it in a meaningful way. We recognized this blind spot and developed an audit to measure the friction factor in both the digital marketing of a property and the human handoff with technology. Read on to learn more!
Have you heard about our STRIDE Digital Leasing Audits?
First, let’s define STRIDE.
In running, STRIDE refers to short spurts of acceleration.
Simplified, STRIDE in life refers to decisive steps in a specified direction or steps toward progress.
Whether you’re taking strides, or making strides, your efforts should be gaining significant progress. Small strides, or huge strides, both are hopefully forward in motion.
Enter our STRIDE audit, built to measure the effectiveness of the steps to move a prospect forward in your leasing experience.We introduced these after 2020 when huge strides were made in digital leasing across the multifamily industry.
This is NOT your average shop report! We measure the Friction Factor in the prospect experience from your online marketing presence to your human handoff and virtual leasing experience. Leasing and marketing are reliant on each other. If there's a breakdown in one, peak performance cannot be attained by the other.
We're ALL FOR solutions that pre-qualify leads, speed the pace to set appointments, or offer differentiating experiences on your website. But, are you clear on the ideal prospect journey? AND are you training your leasing team to fully understand how to gracefully pick up where your automated tools are leaving off?
We have enough of these audits under our belt now to see commonalities. Here are a few common friction points we're seeing:
⏹ Under-utilized Google Business Listings
⏹ Confusing, conflicting or redundant messaging from chatbots, AI, and automation
⏹ Uncertainty in tour styles offered other than in-person
⏹ Too many, or too few conversion tactics on websites
⏹ Lack of follow-up, or follow-up without intention
⏹ Inconsistency in media shared across listing ads
⏹ Lack of clarity in rent, incentives, and fees
Do you suspect any of this rings true for some or all of your properties? We recently hosted a LIVE session in Cadence Run Club, our online community for multifamily marketers, to dive deeper into the common trends listed above and areas of opportunities identified across the STRIDE audits we have already completed this year. We also shared a roll-up of several key statistics across these reports with some telling results, especially as it relates to follow-up.
Out of our STRIDE audits completed YTD, 64% of leasing agents DID NOT encourage a rental application (during the tour or in follow up). And 45% DID NOT provide personalized post-tour follow-up. It appears that the reliance on "apply online when you're ready" has become today's most used closing line.
In case you missed the session, head over to Run Club to catch the full recording. To learn more or order to your STRIDE audit today, let's connect!
Looking for a further deep-dive into your underperforming asset? Check out our SPRINT audit! This report provides invaluable insight and property specific recommendations to competitively position your asset and drive the success of your marketing and leasing efforts. These two audits compliment one another and together provide a comprehensive view of areas of improvement to increase asset performance.
Additionally, take a look at our Occupancy Recovery Workshop if your team could benefit from a playbook to address and prevent unnecessary vacancy.