Reporting-Actionable-Insights

Does Your Reporting Lead To Actionable Insights?

As marketers, reporting is essential to the process — it’s the bread and butter. That’s why it’s critical to consider this question: is your reporting leading you to actionable insights? Looking at each tool’s reporting can help you decide on future budgets and procedures. Here are a few questions to consider when evaluating your reporting. 

How are you saving time? 

Figure out how your marketing tools are saving your team’s time. For instance, BetterBot’s Multifamily automation solution saves an average of 100+ hours (per property, each month), allowing team members to focus on more critical tasks. When your marketing tools help save your teams time, it’s also saving them money. Check out how your property is saving time through your reporting. It’s important to consider if your solution is to set appointments or nurture your traffic.

What is your lead volume? 

Knowing your lead volume can help you assess the next steps for your community. For instance, if your property is getting more leads than it can handle, it might be time to introduce some automation tools. How can you increase your traffic if your property isn’t seeing enough? If you are using bot technology, greetings are one of the first KPIs you will want to look at regarding your web traffic. This number tells you how many people your bot has, you guessed it, greeted! It’s essential to get a good gauge on what is the typical amount of traffic for your community. Then consider how many of those greetings are turning into actual leads for the community.

Conversion rates? 

The last reporting metric you want to hone in on is conversion rate. BetterBot’s NurtureSkill converts nearly 60% of leads into conversations. From those leads, 1 in 5 turns into an appointment. Once prospects have all the info, the serious ones will take the next step to visit the property. This is such a substantial number because it shows how many of those who contacted you are making an effort to visit your community. As marketers, it’s essential to focus on the leads coming in. It’s the property’s job to take it from there and convert those leads. If you notice that the leads setting appointments are not converting to leases, take the time to find out why. Is it that they aren’t qualified? Or does your team need additional sales training? Consider all of these when evaluating conversions.

There are specific KPIs your marketing solutions should be hitting in order to ensure they are successful. Take advantage of the reporting available to you through your providers. Of course, people don’t like to have their reporting all over the place. No one wants yet another dashboard to log into. However, it can prove a great way to double-check your data and access data you may not have been able to on other platforms. Consider if the data available to you through your reporting is leading you to actionable insights. If not, let’s take steps to fix that so that your marketing can be precisely where it needs to be. 

Recession-Proof-Marketing

Recession Proof Marketing

Many experts predict that a recession will be present in our economy over the next year. Marketing in times like these can sound tricky, but it doesn’t have to be. The multifamily industry is strong — people always need somewhere to live. There are some ways property management teams can continue to market throughout a recession while being sensitive to what others are going through. Here are some recession proof marketing tips teams can use to market successfully through a downturn. 

Focus on word-of-mouth marketing

These days, 65% of millennials are willing to pay more for good customer service. That being said, it’s one of the most important focuses your property can have. If your teams focus on making the experience smooth, word-of-mouth marketing comes quickly. Individuals are more likely to share what they experienced with others, and this can help your teams. Plus, you may be driving more traffic to your property with a higher emphasis on online reviews. 

Solve a problem

At first glance, the problem you are trying to solve may seem obvious. Of course, you’re trying to help people find where to live. Consider how you can take this thinking a step further. What are some ways you can work with prospective customers to solve a problem? Are customers struggling to find pet-friendly communities? Make sure this is clear in your advertising. Does your property offer concierge services? Figure out how you can leverage your marketing efforts to promote these features. When you solve a major issue, you have a higher chance of persuading potential residents to choose your community. 

ROI 

What return on investment is your property providing? If you can prove this, choosing your community will be a no-brainer. For instance, can you save your residents money with an on-site workout center? Does your community have a pet washing station? Can you save pet grooming expenses by offering a place to bathe their pets? Consider how their investment in your community will save them time and/or money. 

It’s essential to have empathy and understanding for residents during challenging times like a recession. Remember that word-of-mouth marketing is priceless. Be sure to help solve a problem and find out how you can help your residents save. Most importantly, you’ll want to help ensure your team has time for what’s important…being human

Types-of-Chatbots

4 Different Types of Chatbots Explained

According to IBM, over 265 billion customer service requests are put in each year, costing around a trillion dollars to resolve. And with more and more consumers choosing to do business online, that number is only expected to grow. Fortunately, as much as 80% of these requests can be taken care of without a CS rep – and that’s where chatbots come in. Today we’re going to take a quick look at the most common types of chatbots – and how they can elevate your customer engagement strategy

Why are chatbots effective? 

Before we get into the different types of chatbots, it’s important to understand why companies choose to leverage chatbots in the first place. From reducing the load on customer service-centric teams, to gathering valuable data, chatbots have quickly become a tour-de-force when it comes to improving the prospect journey. 

While you can find a chatbot for just about anything these days, most of the different types of chatbots you’ll find fall into one of four categories. 

4 different types of chatbots you’re likely to encounter

Guided conversation 

The most common types of chatbots are what we call “guided conversation”, or “rules-based”. Used in a variety of contexts, these chatbots lead users through scenario trees, offering them predetermined options to choose to help them complete simple service requests and get information. Think “Choose Your Own Adventure” but for finding an apartment. At BetterBot, this is the type of chatbot we use to help property managers turn prospects into renters!

AI/Natural language processing

Unlike guided conversation bots, “AI” bots utilize natural language processing (NLP) to guide users through human-like conversations. Instead of giving users a predefined set of options to choose from, NLP bots analyze user queries for keywords and phrases and then answer accordingly. The cons with this type of bot are that it’s much more expensive to create, requires a long training period before it can be active must be constantly updated and maintained, and often fails and gets confused.

Hybrid

As the functionality of Natural Language Processing can cause issues in the prospect’s experience due to misunderstood questions or responses, some brands utilize hybrid chatbots, which provide the capabilities of NLP combined with the effectiveness of Guided Conversation. While they mainly operate in a rules-based way, they also have a limited capacity to answer other queries through NLP. By introducing a text field many consumers enter questions the bot is not equipped to answer by introducing a text field many consumers enter questions the bot is not equipped to answer which confuses the bot.  See NLP bot above.

Voice-based

A newer type of chatbot we’re beginning to see emerge is based on voice-recognition technology. In 2020, 24% of American consumers owned a smart speaker, creating the opportunity for advanced companies to create more personalized chatbot experiences. While this is still an emerging category, it’s exciting to imagine the possibilities here. 

Check out which type of bot may be best for your business. In addition to these four main types, many users yield to live chat which can also be something to consider. We’ll break out those pros and cons for you in our resource about chatbots vs. live chat. Want to learn more about how chatbots can improve your customer service strategy? Explore the BetterBot blog for more! 

Embedded-Reviews

BetterBot Just Got Even Better With Embedded Reviews

As we continue to improve our product, we are excited to share a new feature that we’ve developed into the bot — embedded reviews! That’s one less place for prospects to exit the experience, keeping them on your site longer. Here’s how it works. 

When users select “reviews and ratings,” they will be prompted to view whichever review sites are turned on by the community. For instance, if that community turns on all review sites, they will see all the options available. If that property prefers to only have one, or none, of the options available, they can switch that setting in the BetterBot dashboard. 

As we mentioned, this feature allows for a seamless experience. The end user will now be able to find the most information directly within the bot without having to exit. These days, most individuals would consult a rating site before making a significant decision, such as where to live. That’s why it’s so important to divulge the most information possible. Displaying reviews also shows transparency on the property’s side. Now that this feature is embedded within the bot, users will be provided with more opportunities to stay within the bot, on your website, and engaged. Learn more about why online reviews are so important.

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our latest case study

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our latest case study

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