The Science of Satisfaction: Leveraging Data in Resident-Centric Strategies
The ability to make evidence-driven decisions allows operators to tailor their strategies and rewards to the unique needs of their residents.
According to Forbes, 83 percent of companies that believe customer satisfaction is vital to doing business experience a growth in revenue. In fact, brands that prioritize providing a top-tier customer experience see 5.7 times more revenue than those that do not.
Multifamily operators also know the true value of resident satisfaction and its impact on retention and attracting new renters. Although it is impossible to please all residents all of the time, innovative solutions are getting operators closer to that ideal than ever before.
The industry has moved forward through the advent of self-guided tours, centralized leasing and smart technologies designed to make life easier for both residents and associates alike, resulting in increased satisfaction. But what about the way operators choose to administer collections? Digital payment platforms are significantly disrupting the status quo and offering an untapped opportunity to delight renters.
Decoding Modern Resident Needs
A key aspect of increasing satisfaction, encouraging renewals and boosting digital payment adoption is through resident sentiment analysis. Understanding how residents feel about their living situation is no longer a guessing game. Through data analytics, operators can gain valuable insight into residents’ needs, desires and frustrations.
