by Ernest Oriente

Posted August 22, 2001

Gathering is Great! Harvesting is Better!

In the apartment property management profession, gathering information from future residents continues to be an ongoing part of your marketing efforts. In addition, the use of better information from smarter technology systems means you can capture and analyze more information than ever before. This article will summarize the many ways you can gather information from future residents and, more importantly, great ways to
harvest this knowledge. In addition, having a strong follow-up system will allow your leasing teams to maximize the return on your marketing/advertising dollars and strengthen their success ratios.

Gathering information from future residents: Every time a future resident makes contact with those who run the apartment communities you own/manage, your leasing teams have the opportunity to gather information. Here is a list of ways your leasing teams can gather information about future residents:

1. Every time a future resident calls your apartment communities, your leasing teams begins the gathering process by using either a traffic log or guest card. During this telephone conversation we hope your leasing teams will capture this person's name, telephone number, current residence, the marketing source that prompted their call, when they are planning to move and a confirmed appointment.

2. When telephone calls from future resident are missed, companies like CallSource® {www.callsource.com} allow your leasing teams to gather a telephone number and, in many cases, the caller's name and mailing address. In addition, CallSource® will supply your leasing teams with zip code and demographic reports, indicating where your future residents currently live. These reports will deepen your knowledge about future residents and will help to redefine your marketing engine, making it more
efficient.

3. When a future resident sends an E-mail to your leasing teams, this person's E-mail address and message can be merged with your current tracking systems and folded into your E-mail marketing program.

4. When each future resident arrives at the leasing center of your apartment communities the information from the above three points can be confirmed. In addition, new information can be learned from this future resident and your manual or computerized tracking system can record this entire process.

Tip From The Coach: Gathering information is good and learning about the profile of your future residents is time well invested. How often are you reviewing the gathered information mentioned above? Do your leasing teams make each step count? Can your leasing teams gather any new information to further enhance your marketing efforts?

Harvesting information about future residents: Now that your gathering step is complete, how can you harvest this information and refine your marketing efforts? Let's review some important next steps.

1. When your leasing teams have gathered a mailing address, the next step in harvesting this future resident might be a timely thank-you note, the sending of your community newsletter and/or mailed information about your other properties within the same city

2. When your leasing teams have gathered a telephone number, a corresponding zip code report will provide a very targeted approach for future marketing efforts. This zip code report will indicate the geographic location and marketing areas for future residents on a local, statewide and national level.

3. If your leasing teams have gathered an E-mail address, this future resident can easily be added to your E-mail newsletter list using the "be-in-touch, stay-in-touch" permission marketing engine.

Tip From The Coach: Leading property management companies are adjusting their marketing efforts to future residents at the beginning of every new day. Are you and your leasing teams staying current with your future resident trends?

Three Easy Ways To Know Thy Apartment Competitor ©
by Ernest F. Oriente, The Coach {Article #54A}

"Did you hear what your competitor is doing?" This question has caused many property management professionals to freeze in their tracks. How about you? Does your leasing team know what your neighboring apartment communities are doing? And if a prospect was to ask them, "give me 10 unique reasons why I should lease an apartment from you and your company," could they answer this question without a pause? "Knowing thy competitor" is critical, and this article will outline three easy ways to know more about them, than they know about you! Let's get started!

Their people: Begin by "shopping" on the telephone and in-person, your neighborhood competitors and also any nearby competitors who offer similar pricing and product. Notice their leasing staff and look for the way they dress, the tone in their voice, the organization of their rental office, the ease they display when presenting their property, and what questions they ask at the end of your conversation. By observing closely, you will see and hear the quality of person hired by your competitors and the time they invest in their training program. Then ask yourself, "how do these standards, compare to ours?"

Tip From The Coach: Whenever possible, interview EVERYONE who has worked for your competitor. You can learn volumes about how each company hires and trains their people and you will be able to identify their unique management style. Also, ask questions about this person's previous work experience, as it may give you new ideas for recruiting key people. And isn't finding a great team player always a hot topic?

Their product: Shop your competitors at least quarterly, listening closely for any new services or amenities they offer. Pay close attention to the quality of their landscaping, the appearance of their model apartments and any special ways they add "unique" value to living at their apartment community. Use a consistent shopping report so you can easily summarize the unique features and amenities at each property. Now, how does your property compare to the rest? And more importantly, how does your property
compare to the best?

Tip From The Coach: Every Monday morning, have your leasing team spend 15 minutes reviewing the shopping reports done the previous week. When your team has this type of timely and detailed information, they should be able to easily respond to a prospect who says, "why should I lease from you and not your competitor?" Have your leasing team practice handling this type of standard question, as practice does make PERFECT!

Their pricing: Once you know the specific details about your competitor's people and their product, your on-site team will have much more confidence when they explain why your property is "special" compared to the rest. And when you focus on the strengths of your property, so will your prospects. Lastly, people buy from people! A small price difference can easily be overlooked, when your leasing team is courteous and professional! Remember, each prospect is looking to find a perfect place called HOME!

Tip From The Coach: If price is the only issue, work with each on-site team to prepare in advance, a checklist of the specific features and amenities unique to your property, as compared to your competitors. Have each leasing person practice presenting this checklist with confidence and accuracy as this part of their presentation will usually be enough for the prospect to say, "OK, how can we get started leasing this apartment."

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