Time-Savings

How Much Time/Money is Automation Saving?

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.

The Data

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.

The Increase

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. 

Additional Considerations

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.

Automation-Savings

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.

Girl looking at laptop

Generate Better Leads By Using Automation On Your Website

Automation is one of the best tools to work with leads on your property website. Instead of producing more leads, it’s crucial to consider the importance of better leads. Automation can mean several different things. Ultimately, automating a process allows technology to take the wheel and handle more menial tasks, so that team members have more time to focus on more complex duties. Automation can come in many forms, including chatbots and lead nurturing.

The Challenge

When people visit websites, they are faced with unnecessary contact forms popping up out every corner, invitations to chat with a live person, or suggestions to subscribe to a newsletter. The reality is that these customer engagement methods rarely provide decent results and can often have adverse effects on customer satisfaction scores. Cost can also be a huge problem, especially in the case of automation. You spend a big chunk of your marketing budget to bring visitors to your website only to see “agent is not available” when trying a live chat.

Ways Automation Can Help

Automation, such as chatbots or lead nurturing can effectively solve many of these problems. Automation can help brands better engage with website visitors who are more willing to share their information. Here are more potential benefits that you can expect by utilizing automation on your website:

  • Help visitors in real-time, no waiting for an agent and no time gaps between agent responses.
  • Engage with visitors 24 hours a day.
  • Focus your live agent on higher-value activities while offloading menial tasks to your chatbot.
  • Offer a consistent experience in multiple channels like Facebook, SMS, and Web.
  • Your chatbot can provide real value that will encourage visitors to share more information.
  • Chat transcripts can be forwarded to live agents for a seamless handoff.
  • Sentiment analysis can measure how visitors feel about your brand message.

How Automation Provides Better Leads

When automation jumps into the equation, there are endless possibilities. One of the results of deploying this type of technology is better leads. For instance, using automation through chatbots allows prospects to gain basic information about the community, which means the most interested leads will move forward to the next step in the leasing journey. Another example would be lead nurturing. When lead nurturing is automated, it allows properties to connect with their customer while putting in minimal effort. It will enable the prospect to continue the conversation and move forward when they are ready. 

All in all, we know that humans will never be extinct in the workforce. Technology will not replace humans, but it is there to help them. That’s where automation comes into play. Automating processes that are time-consuming and don’t require much effort allows teams to focus their time and energy where it matters most, resulting in more leases. Click here to set up your automation tools today.



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