Property management widget

How to know which widgets to keep (and which to ditch)

Before we dive into talk about widgets, imagine you’re flying into beautiful Las Vegas, Nevada, at night time. You can see all the bright lights, flashing neon signs, and the busyness of people milling around. It’s breathtaking and fun to look at. However, what’s not fun is when your website emulates Las Vegas’s same busyness. Imagine considering moving to an apartment, going to a property website, seeing flashing buttons, call-to-actions everywhere, and, well, just general busyness.  It’s not only hard to navigate, and it’s just plain hard to look at. 

Many tools, widgets, and solutions are available today that help your prospective renter.  There’s a better way of going about this. So how do you narrow down the essential widgets for your business? Here are three questions to consider when evaluating which widgets to keep and which to ditch.

What is the end goal of this widget? 

Consider what the end goal of your widget is. Bot technology (when done right) isn’t just one more thing to add to a property website and other marketing channels. The right kind of widget can carry all of those other widgets, and their functionality within the bot experience freeing up your site so it can breathe again. Most property management teams are focused on leasing up their communities. Having the right widget on your site can help achieve this goal.

What value is this tool bringing? 

It’s essential to consider what value this tool is bringing. For example, BetterBot customers typically see a time savings of 56 hours a week per property each month by utilizing automation. That’s valuable time the on-site team saves to shift their focus to more critical tasks. In the case of Campus Life and Style, not only were they able to save a monthly average of 74.9 hours per property during 2021, but they also greeted over 1,500,000 guests along the way using automation. When evaluating which tools make the most sense for your business, consider their value to your teams.

Does it streamline a process? 

Think about if the widget is making a process more straightforward. For instance, BetterBot’s solution streamlines the beginning stages renters typically go through. The bot pops up and says, “Hey, I’m here if you need me.” When engaged, the bot can provide many options and allows the prospective renter to guide the conversation. If the prospect wants to know about the pet policy or amenities, all the information is front and center. If they’re going to learn about availability, it’s easy to find if they’re going to schedule an appointment; score!  All of these actions can be met and straightforwardly facilitated by the bot. 

At the end of the day, consider what makes the most sense for your business using these three questions: What is the end goal of this widget? What value is this tool bringing? And finally, does it streamline a process? When you address these questions, it’ll help you make decisions that benefit everyone on your team.

Calculator for calculating ROI

Factors Multifamily Marketers Should Keep in Mind When Calculating ROI 

Read this before you decide to add a digital leasing agent to your team.

Multifamily marketers are a fascinating group of people. They are constantly looking over the horizon and looking for the next game-changing product on the market. BetterBot benefited from this, especially in the early days when we needed early adopters that believed that digital leasing agents could revolutionize the leasing process. 

While the initial hype may get you in the door, relationships in this industry are built on results. That meant analytical marketers quickly started requesting data that could show ROI before agreeing to move past the pilot stage and onto a portfolio-wide deployment. 

The first calculations of ROI closely mimicked estimates of other products commonly found in multifamily marketing. This meant measuring visitor and lead conversion and additional revenue side calculations. It was imperative to show how quickly a digital leasing agent could move prospects from one tier of the funnel to the next. The goal was for visitors on marketing and advertising channels to engage with the digital leasing agent and continue on the path to a scheduled tour and, eventually, a signed lease agreement. It makes sense, right?

There is nothing wrong with the ROI calculations above except that they are one-dimensional and don’t consider that digital leasing agents are designed to save massive amounts of time no matter which leasing tasks they are automating. For example, the revenue side ROI calculations make more sense in a lease-up but not nearly as much in a property with a high occupancy rate. In a high occupancy scenario, a digital leasing agent might do even more heavy lifting in fielding many availability requests but not contributing to a higher number of leases. Based on this, it only makes sense that we use the time saved as part of the ROI calculation. 

Calculating ROI correctly has never been as crucial as now due to historic labor shortages forcing property managers to rely on automation. Luckily, automation tools on the market promise to give you a return in multiples of your investment. Just make sure to ask for the correct data demonstrating time savings before committing to a solution. 



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