During a typical conversation around automation technology, a question that often comes up is, “How much time and money is automation saving me?” We’ve got the answers you’re looking for.
Let’s look at what automation does in a given month for an average property when deployed on a property website and additional channels in the digital marketplace. Other channels could include Facebook Messenger/Marketplace, Google Ads/MyBusiness, Yelp, Instagram, YouTube, etc.
For example, BetterBot’s Multifamily automation solution saves an average of up to 100+ hours (per property, each month), which allows team members to focus on more critical tasks.
On average, 300+ unique prospect conversations occur through the solution (per property, each month). Because the average person uses the 1.9x, that’s nearly 600 total conversations/property/month.
Out of those conversations, teams can expect an average of 36 appointments set. BetterBot qualifies those prospect conversations and sends through the traffic that is most likely to convert. Which, in turn, saves the team time. And those appointments have around a 90% show rate. A call center is around 50% in show rate; a typical property scheduled appointment is approximately 60%. So when prospects schedule an appointment through BetterBot, they show!
The average time is 16.3 days from when a prospective renter first engages BetterBot to when they fill out an application. That’s between 1/2 to 1/4 the time of a typical ILS.
When property marketers deploy the BetterBot automation solution, they often see an immediate lead, conversation, and appointment bump of 20%+. Why? Today’s consumer, especially the renter demographic, is less and less inclined to make phone calls and doesn’t like filling out web forms. Often they’ll just pass through your social outreach, ads, and website without engaging. But they’ll engage with conversational technology, especially a quick system, that provides what they’re looking for in less than a minute. This is essentially putting a fuel additive in your marketing gas tank to drive more efficiencies in your consumer outreach.
The easiest way to quantify the value of the increase is simply to figure out how much it would cost to drive 20% more leads, conversations, and appointments to your respective properties.
What’s not being factored into the above calculations is: Automation works 24/7/365, doesn’t get snowed in, doesn’t need sick days, nor requires benefits. It can handle 3, 5, 20…an unlimited number of conversations covering a dozen topics simultaneously. Automation can be deployed on virtually every digital channel to meet and greet prospective renters anywhere instantly, at any time. Automation can look up and coordinate complex calendaring and appointment scheduling in seconds, see and convey unit availability and pricing in under a second, show virtual tours and videos at the click of a button, and so much more.
Devin Lusk, Director of Marketing at American Landmark, shares, “Everything was so just manual before BetterBot. You miss phone calls, and you miss prospects. BetterBot is just so amazing because it’s my favorite system that we have. BetterBot makes our lives so much easier. It’s so hands-off, and it’s just the easiest system that we have.”
In conclusion, let’s be very clear: Bots will never replace humans. They simply create efficiencies of marketing scale while reducing repetitive tasks that humans either don’t do, don’t like to do, or don’t do very well. Humans will always be needed to handle interactions that require thought, empathy and complexity. So let’s let humans be humans and utilize automation to do the rest.