Why Online Reviews Matter To Renters

According to research from the United States Bureau of Statistics, 93 percent of consumers read online reviews regularly, 85 percent trust online reviews as much as a personal recommendation, and 40 percent form an opinion after reading one to three reviews. 

When I was apartment shopping, I read 5 to 10 reviews on every apartment I was considering. 

Whether it was good or bad. 

Respage wrote an article called Why apartment Google reviews matter more than others and stated, “Google considers apartment reviews when determining the ranking of local organic search results. This implies that communities with positive apartment ratings get a higher ranking than communities with negative reviews. Another element Google considers is the number of apartment reviews, and those with the most reviews are rewarded by having their apartment ranks boosted.” 

Reviews give you insight into the property that might be hidden behind all the photoshop pictures on the website. 

When I was searching for an apartment, I would be more focused on how a property manager would respond rather than the problem itself. 

It allowed me to see how property managers handle problematic situations. 

While I understand Google reviews sway someone’s decision, here’s why I give apartment complexes the benefit of the doubt sometimes when they have a negative review. 

I once ran into a situation where I fell in love with a property online. However, the Google reviews were disappointing to read. There were tons of reviews complaining about the property, but I couldn’t shake my love for how the property looked. 

A few days later, I decided to visit the property to see it firsthand. 

When I met with one of the leasing agents, she explained how they recently acquired the property and have been trying to make up for all the turmoil the last management caused in the three weeks they owned the property. 

The leasing agent walked me through all the changes that were going to be made and the problems they were currently working on. 

The moral of the story is if you are having doubts about a property, it’s best to go to the property yourself and get firsthand experiences. 

Another tip! You can always bring some Google concerns up to the leasing agent and inquire about the issues mentioned.

When it comes to reading online reviews, my suggestion would be to search for the apartment complex on multiple platforms aside from Google.

While Google reviews hold a lot of weight regarding how people make decisions, other platforms such as Facebook and Apartment.com can have more authentic reviews. 

BetterBot Teams Up with Entrata

BetterBot Joins Forces with Entrata’s Property Management Solution

September 27,  2021 – BetterBot, one of the leading property management chatbot solutions, announced on ___ a new partnership with Entrata, the real estate industry’s most comprehensive property management software platform. 

Prior to integrating, the only way for the BetterBot team to receive leads was through email, which made responding in a timely manner tedious and time-consuming. Through Entrata’s property management service, the team will now be able to access a property’s latest guest cards directly, making quick responses much easier to achieve. Additionally, with Entrata’s Lead Manager, BetterBot can set attribution to the correct source whenever a prospect engages with a property’s marketing assets much more seamlessly. 

By ensuring more accurate attribution, BetterBot can help property management and marketing teams gain a better understanding of where leads are coming from – and which areas of their digital presence they should potentially invest more time and resources into. 

Through this partnership, both Entrata and Betterbot will help align their shared goal of making life easier for property owners, property managers, and residents.

BetterBot’s chatbot solution is one of the most flexible on the market and is fully integrated with major property, revenue, and lead management software platforms, including RealPage, RentDynamics, Hy.ly, Yardi, Spherexx, MRI, and Knock, among others.

About Entrata

Entrata’s property management software incorporates your property accounting, purchasing, facilities, and leasing data into the industry’s most comprehensive property management software available. Whether you need to quickly move in a resident, post transactions to the ledger, or automate your renewal offer process, Entrata’s property management software provides everything you need to make a difference at your property.

About BetterBot

Today’s renter wants control over the leasing process and access to information wherever, whenever, but today’s leasing team simply can’t keep up. BetterBot is Multifamily’s most adopted digital leasing solution providing renters the information they want 24/7/365 anywhere on the Internet. Using the most technologically advanced software to answer the renters’ questions about the community, BetterBot showcases floor plans, virtual tours, specials, and amenities while driving them to schedule in-person, self-guided, live-video, and phone appointments. BetterBot is the round-the-clock leasing assistant of choice, freeing up leasing teams from low-value, menial and repetitive tasks so they can do what they do best, being human. 

Related Links

https://www.entrata.com/
https://www.betterbot.ai/

Chatbot Vs. Live Chat: Which is Winning in Renter Conversion?

Over the past decade or so, the property management world has undergone quite the digital transformation. From things like VR tours to e-signing, new technologies are continually pushing the envelope of what’s possible in multifamily. Yet, one of the most important innovations driving change in the industry isn’t one of the flashiest or most expensive. In fact, chatbots are one of the simplest and most affordable technologies a property management team can adopt. But can a bot hold its own against more traditional live chat-based customer service? Today we’ll break down the chatbot vs. live chat debate to get to the bottom of which one is really better for converting users into new renters. 

Chatbot vs. live chat: the breakdown

Who will win? While both chatbots and live chat ultimately share the same purpose, there are a variety of important ways that they differ in functionality and overall helpfulness. Let’s see how each holds up to scrutiny. Time for the chatbot vs. live chat showdown. 

Where chatbots go the extra mile

24/7, 365 service

Today’s prospective renters want to be able to get info on properties and have their questions answered anytime, anywhere. The beauty of chatbots is that they allow hands-off customer service whenever it’s needed, even when it’s after business hours or on holidays. Most people tend to do research when they’re off the clock, so having a chatbot available to handle requests can be a big plus for your team. 

Instantaneous responses 

We all live busy lives, and the shorter amount of time we can spend waiting on info or assistance, the better. Chatbots are automated, which means they can provide information almost instantaneously. 

Let’s your team focus on other tasks

One of the biggest pros of having a chatbot is that it allows you to give more time back to your property management teams. Instead of employees filling their days responding to an endless amount of customer service queries, they can redirect their focus and energy into other, higher-value tasks like marketing and outreach. 

Challenges chatbots can face

No human touch?

Chatbots can answer questions quickly and effectively, but when not programmed well, they can come across as cold, artificial, and unpleasant to converse with. That’s why it’s super important to customize and build personality into your bot. That way each conversation users have will be friendly, pleasant, and helpful. In fact, 33% of consumers user conversational marketing tools for scheduling and average satisfaction of a bot-only chat is 87.58% which is higher than the average rate for when prospects engage with a human.

Harder to take care of complex queries

Bots can handle simple requests like no one’s business. But they’re only programmed to understand and offer solutions to a certain set of scenarios. When it comes to more complex customer service issues, they may have trouble providing answers. They can also be tripped up by any spelling errors that occur. If a user submits a query with typos, natural language processing chatbots will have a hard time parsing through and understanding the text, whereas guided conversation can offer suggestions so that the bot never breaks. Guided Conversation bots can actually fix issues that Natural Language Processing bots encounter. Guided Conversation is a clear solution to handling prospect interaction by attending to 100% of the questions 100% of the time. Natural Language processing bots only succeed on average 66% of the time. This is why it’s important to create a seamless chatbot to human handoff when these situations arise.

Why live chat ultimately loses

Low volume capacity

Popular properties may have dozens (or even hundreds) of queries sent in each day. If you only have 1 or 2 people taking care of these requests, you’re severely limited in how many requests you’re actually able to complete. And that means people will take their interest elsewhere. 

Longer wait times

Chatbots can answer a request in under a second. If you’re talking with a live agent, you have to sit and wait for each new message to roll in, a process that can take upwards of 30 minutes if you have a lot of questions or a particularly tricky issue that needs resolving. 

Teams have to hire additional help

Like we mentioned earlier, popular properties can have hundreds of queries each day. But many teams don’t have the funds or resources necessary to hire a whole fleet of live agents. 

Chatbot vs. live chat: the ultimate verdict

While each method has its advantages and disadvantages, it’s clear that chatbots are winning when it comes to customer service and renter conversion. Today, 70% of consumers prefer chat over other forms of communication, and bots can provide quick answers with no need to wait for an available live agent. What’s more, we’ve found that if a bot has a successful conversation, it has upwards of a 95% consumer satisfaction score. With properties that use BetterBot specifically, we’ve seen that 10% of all conversations starting on our chatbot convert to a viable prospect or scheduled appointment. Along with converting more prospects into renters, these automated conversations have saved over 1 million hours for leasing teams across the country, allowing them to spend more time on the tasks that matter most.

If you found this guide helpful, we’ve got more where that came from. Explore the latest multifamily news and trends on the BetterBot blog

Why BetterBot ditched NLP and moved to Guided Conversation

From the beginning, BetterBot has adapted to changes as we’ve learned. Early on, we built the largest proprietary Natural Language Processing (NLP) database in the multifamily industry, and we scrapped it for several reasons. To understand why it’s essential to know the difference between NLP & Guided Conversation. NLP bots guide users through human-like conversations instead of giving users a predefined set of questions to choose from, like Guided Conversation. NLP bots analyze user queries for keywords and phrases and then answer accordingly. Here’s why we opted to move towards Guided Conversation for our bot: 

  • Guided Conversation doesn’t break
  • Less is more
  • Guided Conversation is fast and effective 

Guided Conversation doesn’t break.

Unlike Guided Conversation, NLP is highly inconsistent. It may be further developed in instances such as Alexa or Siri; however, in the multifamily industry, we found that using NLP meant the bot would break more times than not. One of the reasons being is that the bot must be trained for hundreds of question phrasing variations. We compiled over 80,000 notes from our bot and found we could only train 2,000 of those questions. It would become nearly impossible to train the bot for those different variants. We found that we could focus on answering those questions more simply by using Guided Conversation, and our bot would never break in the process. 

Less is more 

When prospects are looking for information, they want to be able to find it easily. When prospects arrive at an NLP bot, they may not know what to ask for. Additionally, most users have experience with bots breaking, so they may not know how to ask the question they want answers for. Guided Conversation allows for an easy way to answer questions most renters are looking for. BetterBot has done extensive research on what information prospects want to see, and we have adjusted our bot to meet these needs. 

Guided Conversation is fast and effective. 

When NLP bots break, they often will hand off the conversation to a live agent. What happens when that live agent takes more than 10 seconds to answer? The prospect is most often lost. With Guided Conversation, responses are immediate, which results in an effective conversation. BetterBot uses Guided Conversation to provide a seamless experience for prospective renters and share information quickly so that user’s attention is never lost. In addition, you can see exactly what conversations are happening and how effective they are through our reporting dashboard. 

AI can be a great tool in many cases; however, we have found Guided Conversation to be a superior product after testing different technologies in the multifamily space. Some of the biggest reasons Guided Conversation is so successful is because it never breaks; it’s simple, quick, and effective. We are constantly looking at technology to see where it has advanced and what pieces we can bring to our bot. For more information on the differences in bot types, CLICK HERE

50 Conversational Leasing Stats You Need to Know in 2021

What is conversational leasing?

Conversational Leasing & Conversation Marketing work hand in hand. Refining the way of communicating with your prospects online. Leverage marketing automation to reduce the overall demand on your leasing staff to create meaningful touchpoints for your prospect inquiries that help convert your prospects when they are ready. Assisting them with their research and information-grabbing process by providing immediate engagement and access to the information they are looking for. Whenever they want and wherever they happen to inquire from.

BetterBot inserts your leasing agents into the conversations when and where it matters most while handling the menial tasks and unqualified prospects.

How can conversational leasing enhance your prospect’s leasing journey?

  1. On average, leasing teams leverage Conversation Leasing solutions see an average savings of 56.3 hours per month. (BetterBot)
  2. On average, communities that have marketing automation in place convert their ILS leads in 13 days versus the typical 45 days with standard marketing practices. (BetterBot)
  3. 49% saw improvements in their overall customer lifetime value when using a conversational sales solution. (Drift)
  4. A study showed that 9 out of 10 consumers would like the option to use messaging to contact a business (Twilio).
  5. Conversational marketing enables brands to communicate with existing customers and prospects in a way that’s more personalized and conversational, enabling the customer to go deeper than the traditional pushed offer that they are used to. Marry this with SMS/MMS for maximum reach and engagement (the SMS open rate is 98%, and 90% of messages are read within 3 seconds), and you have a uniquely powerful direct connection to your customers. (Forbes )

Conversational Leasing & Marketing Stats to prove how effective this can be for your communities:

6. Most customers (56%) expect to find what they’re looking for from a company in 3 clicks or less (Salesforce)

7. 81% of buyers don’t fill out forms when they encounter gated content (LinkedIn)

8. At least 50% of your prospects are not a good fit for what you sell. (HubSpot)

9. 26% of customers were unhappy with the time delay after filling out contact forms (Whisbi)

10. By incorporating a quiz-like form or structure as a means to capture customer information has the potential to triple your conversion rate. (aumcore.com

11. Companies who are already automating lead management and conversational marketing witness a 10% increase in revenue after a 6-9 month period. (aumcore.com)

12. 36% feel they can’t get answers to simple questions (Drift)

13. 37% of sellers report that their buyers are frustrated by having to fill out repetitive online forms to get the resources and content they need. (Drift)

14. 36% believe their buyers are frustrated by a lack of digital self-service options available to them. (Drift)

15. 9 in 10 B2B sellers believe it is valuable to some degree to have a Conversational Sales solution in their sales process. And they’ve found that these solutions can enable success throughout the sales process. (Drift)

16. 53% of sellers saw improvements in overall revenue growth when using a conversational sales solution. (Drift)

17. 45% were able to learn more about their buyers in less time when using a conversational sales solution. (Drift)

18. 42% were able to accelerate revenue generation when using a conversational sales solution. (Drift)

19. 38% could book more qualified meetings when using a conversational sales solution. (Drift)

20. 52% of consumers are more likely to make repeat purchases if the company offers support via live chat (Kayako).

21. 79% of companies say that live chat has had positive results for customer loyalty, sales, and revenue (Kayako).

22. Conversations inside Facebook Messenger between companies and customers have a 30% better ROI than retargeting ads (Business Insider).

23. 54% of customers report companies need to transform how they engage with them. (Salesforce)

24. If you engage with a lead within five minutes of them indicating interest in your offer, you’re 100 times more likely to actually speak with them than if you wait even 30 minutes. The odds of qualifying that lead are also 21 times higher. (InsideSales)

25. 66% of consumers prefer to reach brands through messaging apps (Chief Marketer)

26. 45% of businesses have implemented conversational marketing as part of their marketing efforts (HubSpot)

27. Consumers who are frustrated with unresponsive brands on social or email have grown 5.7 times since 2019. (IBM)

28. Forty-one percent* of survey respondents say that they use conversational marketing to make a transaction or a purchase. About 7 out of 10* are using it for a quick response to their questions. Live chat is also one of the preferred ways that B2B consumers get in touch with organizations. (IBM)

How chat fits into the conversational leasing process: 

29. 80% of routine questions can be answered via chatbots (IBM).

30. 47% of consumers would be open to making a purchase completely from a chatbot (HubSpot).

31. 83% of consumers said they would be more loyal to a brand who offers a chatbot for tasks like making an appointment or handling customer service inquiries (Mobile Marketer).

32. 72% of people who have used chatbots find them to be helpful and informative (SUMO Heavy).

33. 40% of millennials say they interact with chatbots on a daily basis (Mobile Marketer).

34. Chatbots can reduce customer service costs by 30% (Chatbots Magazine)

35. 40% of millennials say they interact with chatbots on a daily basis (Mobile Marketer)

36. 40% of shoppers don’t care if they’re helped by an AI tool or a human, as long as their question gets answered. (HubSpot)

37. 35% of consumers want to see more companies using chatbots. (Opus Research)

38. 38% of consumers think brands should use chatbots for deals, coupons and promotions. (Uberall)

39. 80% of consumers who have engaged with a chatbot report it as a positive customer experience. (Uberall)

40. Nearly one-quarter (22%) of respondents said they already trust chatbot recommendations for product purchases. (Cognizant)

41. Business leaders claim chatbots have increased sales by 67% on average. (Forbes)

42. 64% of businesses believe that chatbots will allow them to deliver a more customized customer support experience. (Statista)

43. Chatbots are projected to save $0.70 per customer interaction (CNBC)

44. 68% use bots/live chat over forms or phone (Whisbi)

45. 57% of customers expected an immediate response from a chatbot, and 47% expected this from live chat. (Whisbi)

46. 80% of businesses are expected to have some form of chatbot automation instilled into their company by the end of the year. (aumcore.com)

47. 86% of online shoppers prefer proactive customer support, something that conversational marketing chatbots can offer immediately. (aumcore.com)

48. Over 300,000 messenger bots are active on Facebook (Social Media Today)

49. 86% of consumers prefer to use a chatbot than filling a form on a website (Drift)

50. 43% of sellers say they’re frustrated most by a lack of automation or AI to replace manual, repetitive processes. (Drift)

As you can see, conversational marketing is making a massive difference in the way businesses market their products. It is increasingly important to adopt these practices as processes evolve and grow. Reaching customers in new ways can be exciting but also daunting, so we are excited to be part of the solution. For more information on how BetterBot can help you with your conversational marketing processes, CLICK HERE

BetterBot Announces Integration with Yardi

The Property Management Service Will Help Support New Multifamily Insights 

September 6, 2021 – Leading property management chatbot solution BetterBot is teaming up with Yardi’s complete real estate management solution.

Being able to see where and when engagement is happening is key to helping property management teams that BetterBot works with keep up with and follow up on leads. Prior to integrating with Yardi, the only way for the BetterBot team to receive leads was through email, which made responding in a timely manner tedious and time consuming. With the help of Yardi’s real estate management platform, BetterBot will now have direct  access to a property’s latest guest cards, simplifying and streamlining the response process. What’s more, Yardi makes it possible for BetterBot to set attribution to the correct source whenever a prospect engages with a property’s marketing assets.

Property teams count on accurate sourcing. By creating a more accurate attribution strategy , BetterBot can help property management and marketing teams gain a better understanding of where their  leads are coming from – and which areas of their digital presence they should potentially invest more time and resources into. 

Through this dynamic partnership, both Yardi and Betterbot will help bring about their shared goal of providing property management teams with superior, unwavering customer service .

BetterBot’s chatbot solution is one of the most flexible on the market, and is fully integrated with major property, revenue and lead management software platforms, including RealPage, RentDynamics, Hy.ly, Yardi, Spherexx, MRI, and Knock, among others.

About Yardi

Yardi’s complete real estate management solutions include software for property management, accounting, marketing and leasing, market intelligence, energy management, end-to-end procurement, business intelligence, learning management and much more. We have multiple options for all portfolio types and sizes, from large multinational enterprises to small and midsize holdings.

About BetterBot

Today’s renter wants control over the leasing process and access to information wherever, whenever, but today’s leasing team simply can’t keep up. BetterBot is Multifamily’s most adopted digital leasing solution providing renters the information they want 24/7/365 anywhere on the Internet. Using the most technologically advanced software to answer the renters’ questions about the community, BetterBot showcases floor plans, virtual tours, specials and amenities while driving them to schedule in-person, self-guided, live-video and phone appointments. BetterBot is the round-the-clock leasing assistant of choice, freeing up leasing teams from low-value, menial and repetitive tasks so they can do what they do best, being human. 

Related Links

https://www.yardi.com/
https://www.betterbot.ai/

Features that make the apartment search journey easier

When I searched for my apartment, I had an excel spreadsheet, notebooks, and random sticky notes everywhere to keep track of all my findings. 

Do you know what would have made this all better? A magic lamp where a genie would fly out and make apartment shopping easier!

Because apartment shopping is everything, but easy…

However, there are a few features that prospecting renters should look out for that will make their apartment journey easier. 

3D Tours

Let’s start with my favorite… 3D tours! 

3D tours have saved me a lot of time when it comes to looking at an apartment’s layout and seeing if it works for me.

Gone are the days where you have to schedule an appointment to see a unit. 

Now, I can view an apartment’s layout in the comfort of my home as TV is playing in the background… This is the life I have always aimed for. 

For some communities, 3D tours are also available to see amenities such as the clubhouse, gym, pool and so much more. 

I’ve always loved when there are 3D tours of the entire community because it gave me the opportunity to see if the complex fit all my needs.

Sometimes a complex had amenities I wasn’t even aware I needed such as study rooms and an indoor bowling room! 

Having the ability to “walk” through the 3D tour allowed me to see the entire facility as if I were standing in the room!

This is one of the many cutting-edge features that BetterBot offers. 

Chatbots

Remember a few seconds ago when I said that a magic genie would make apartment hunting easier?

BetterBot’s chat offers what I call an apartment hunter’s magic genie. 

BetterBot has developed chatbots to help prospective renters find their home by asking them a range of questions that get them thinking about their wants and needs

The intuitive apartment chatbot takes the stress out of apartment searching by finding the perfect apartment matches based on how the prospecting renter answers to the questions.

Neighborhood Insights

But why stop there? 

This chatbot goes the extra mile in providing them with neighborhood insight! 

Is nightlife important to your prospecting renter? Well, tell them to dust off their dancing shoes.

BetterBot will highlight all the nightlife hotspots near their future apartment so they can see if what’s around the apartment complex will suit their everyday life. 

Talk about easy! 

Local Entertainment Suggestions

Okay, okay… For the renters who like more of a slower-paced lifestyle, BetterBot has great categories for them too! They can explore entertainment, fine dining, cafes, shopping, parks, and more!

No longer will they have to “drive around” to get a better idea of the surrounding areas and what it has to offer, it is now available at the touch of their fingertips. 

The chatbot also eliminates the standard information form. 

No longer will renters have to wait for leasing offices to call them back to provide them information the renter can get all the information they need in real-time.

Renters can find out the price, size, amenities, and availability all in a few minutes. 

This doesn’t only improve the user experience but makes decision-making quick and easy. 

I know, I know… the BetterBot chatbot is not exactly a giant blue magic genie trapped in a lamp, but it puts some amazing tools at the prospecting renter’s disposal that will make their apartment search easier! 


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