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Get expert tips, leasing inspiration, and multifamily tech buying guidance with the latest news and resources from the Revyse Community.

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Bringing Transparency to the Multifamily Integration Ecosystem

Bringing Transparency to the Multifamily Integration Ecosystem

In an exciting development for the multifamily industry, Revyse, a SaaS platform dedicated to simplifying the discovery, procurement, and management of multifamily software and services, proudly announces its partnership with Propexo, a first-of-it’s-kind Integrations as a Service (IaaS) provider within the proptech ecosystem, bringing more transparency to the multifamily technology ecosystem. This collaboration is set to enhance the way multifamily operators shop for and select vendors, offering them a seamless, efficient path to evaluating the best software solutions for their needs.As a result of the monumental growth of the proptech landscape in recent years—spanning maintenance, renewals, fraud prevention, and more—the necessity for interconnected systems has never been more paramount. Yet, multifamily operators face significant time constraints when selecting compatible technologies. A recent survey conducted by NMHC and Real Foundations revealed that over 40% of participants identified resource limitations as the primary barrier to adopting new technology. The data partnership between Revyse and Propexo aims to mitigate these challenges by surfacing transparent data on vendor-level integrations within the Revyse Discovery marketplace, allowing multifamily operators to quickly see a vendor’s integration partners upfront, verifying critical system compatibility when shopping for new proptech solutions. In addition to merchandising integration data, the Revyse Discovery marketplace allows operators to explore a wide range of industry-specific products and services, read verified user reviews, engage with self-guided demos, understand pricing transparently—all before picking up the phone to talk to a Sales rep. This transparency saves multifamily operators invaluable time and resources, facilitating a smoother transition to new technologies and a smoother vendor selection process.“There are a lot of industry buzz words out there, especially around the proptech explosion.” says multifamily operator and industry advocate, Angela Flick. “When I hear things like AI, streamlined or integrations I immediately put up my guard. Understanding these functions and features are critical to protecting the overhead on both sides from a lot of pain and complexity.”Flick emphasizes the need for transparent integration data. “Truly seamless end to end technology workflows are critical to the customer experience, the ability for the onsite teams to implement and the back end teams to support. I am so excited to see this release! This is a huge step forward in validating true integrations so as operators, we can assess what will work within our tech stack.”The changing dynamics of B2B purchasing underscore the importance of this initiative. Today, nearly 96% of consumers conduct thorough research on potential tools before initiating contact with sales teams. By providing a rich repository of information and ensuring easy access to vital data, Revyse and Propexo are helping to empower multifamily operators to approach sales discussions with a well-informed perspective, fostering a more consultative and effective sales experience.About RevyseRevyse simplifies the discovery, procurement, and management of multifamily software and services. Combining forward-thinking AI with a design that puts users first, Revyse’s comprehensive platform assists multifamily industry professionals in navigating the complex landscape of proptech procurement and vendor management, supporting multifamily operators throughout the entire lifecycle–from initial vendor selection to contract renewal. About PropexoPropexo streamlines integrations for proptech companies connecting to property management software. Propexo’s unified API, straightforward documentation, and top-notch customer support helps companies build integrations up to 6x faster, dramatically reducing the costs of initial build and ongoing maintenance. Propexo helps proptechs and multifamily operators deliver amazing experiences that meet needs of residents and property managers alike.

2 months ago

Team Revyse

Team Revyse

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Google Business Profile Reporting Metrics: Navigating the Shift in Views

We know residential rental companies rely on accurate data to make informed decisions about their online presence. Recently, Google has made significant changes to its reporting metrics for Google Business Profiles (GBPs), specifically redefining what constitutes a "view." This adjustment aims to provide more precise and reliable insights for property managers and owners who leverage GBPs to connect with their audience. Let's delve into the details of this transformation and understand what it means for your business.The Evolution of Google Business Profile ViewsPreviously, Google defined "view" as various user interactions with a business profile. Whether users scrolled past the profile on Google Maps or actively clicked into it from search results, each instance was counted as a view. While this approach provided a broad overview of visibility, it also introduced potential inaccuracies in the data, as the same user might contribute multiple views within a short timeframe.Google's Refined Definition of a "View"The recent update from Google introduces a more refined definition of what constitutes a view. Instead of counting every interaction as a separate view, Google will now report only one view per user every 24 hours. This change aims to offer a more accurate representation of genuine user interest, eliminating the possibility of inflating view counts due to repeated interactions from the same user.What Property Managers and Owners Should ExpectAs a consequence of this shift in reporting metrics, property managers and owners utilizing GBP may notice a dip in their reported views. This decline doesn't reflect a decrease in actual visibility or engagement with their profiles. Instead, it mirrors the more precise methodology implemented by Google to ensure a more accurate reflection of user interest.Navigating the ChangesUnderstanding the 24-Hour Window: With the new reporting system, it's crucial to recognize that each user will contribute only one view within a 24-hour period. This means that even if a user interacts with the profile multiple times in a day, it will be recorded as a single view.Focus on Quality over Quantity: While the overall view count may decrease, property managers and owners should shift their focus to the quality of interactions. With the refined metric, each view is a more reliable indicator of genuine user interest, providing a clearer picture of the audience's engagement.Emphasizing Long-Term Trends: Instead of fixating on daily fluctuations, communities should pay attention to long-term trends in profile views. This perspective allows for a more comprehensive assessment of the impact of the changes and provides insights into the overall trajectory of user engagement.The Benefits of the UpdateWhile the adjustment in reporting metrics may initially seem like a challenge, it brings several benefits for property managers and owners leveraging GBPs:More Accurate Data: The refined definition of a view ensures that reported metrics better align with genuine user interest, offering a more accurate representation of a business's online visibility.Improved Decision-Making: Businesses can make more informed decisions based on reliable data, leading to better optimization of their Google Business Profiles and overall digital marketing strategies.Enhanced User Experience: With a focus on quality interactions, businesses can tailor their content and engagement strategies to provide a more meaningful and relevant experience for users.ConclusionIn the ever-evolving digital landscape, adapting to changes is crucial for staying ahead. Google's refinement of Business Profile reporting metrics is a positive step toward providing businesses with more accurate and actionable insights. Property managers and owners should view this change as an opportunity to gain a clearer understanding of their audience and tailor their strategies for long-term success. As with any update, the key lies in embracing the shift and leveraging it to enhance the overall online presence and engagement with the community. 

2 months ago

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Jessica Fritz

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The Brainiac Approach to Multifamily Buying with Revyse

Imagine you go to an ice cream shop with a menu of flavors to choose from—chocolate, vanilla, strawberry, mint chocolate chip, and many more.Feeling overwhelmed by the endless menu options and the impatient crowd behind you, you panic and order the first option on the menu: Chocolate.Later, you’re confused and unsatisfied as vanilla sounds more appealing.What just happened? This scenario is known as the paradox of choice.The paradox of choice is the idea that having too many options can make things more complicated and make you feel less satisfied with your choice. Research shows that more isn’t always better.In a world filled with options right now, it’s getting harder for people to make purchasing decisions that leave them happy and satisfied.And the multifamily industry is no exception.However, Revyse is helping alleviate the paradox of choice for multifamily operations.Want to eliminate the hassle of vetting software solutions and services? Read about how Revyse is helping the multifamily buying experience for operators.How Multifamily BuysBefore we discuss how multifamily operators buy, a quick comparison will help connect the dots.Because there’s a trend in how prospective renters start their buying journey similar to multifamily operators—they search online.Search engines. Influencers. Review sites.In fact, prospective renters reading reviews are increasingly important. A whopping 98% of renters said ratings and reviews are important to their decision-making process, according to a survey concluded by Apartmentology with 20,000 participants.But all of those methods lead to hours of research. It’s why prospective buyers or renters turn to a trusted real estate agent for help or rely on a credible source.Why? It narrows down their search—eliminating the paradox of choice.Similarly, Revyse’s multifamily-built search engine helps make software buying easier for multifamily operations.As a multifamily operator, you’re often tasked to find tools that streamline processes, improve leasing efficiency, and support your onsite teams’ effectiveness.Do you remember the days of Googling, talking to sales representatives, and taking endless demos when researching for software solutions? Now, you can eliminate the time you spend researching by starting your search on Revyse.There are too many software solutions to sift through on Google because the barrier to launching a software business is lower than it ever has been.With no-code AI applications hitting the market, the options for multifamily operators are growing exponentially. Buyers want to shortlist their options before talking to a sales representative or taking a demo.Tools like self-guided demos, transparent pricing, categorization, and consumer reviews are helping operators narrow down their options in a sea of potential on Revyse.With Revyse, you can search over 700 products and services to find verified information to inform your buying decisions. It’s like a trusted real estate agent and credible source.How Revyse WorksLet’s say you’re searching for a new touring technology solution.Here’s what you’d do on Revyse:Go to Revyse’s website.Click on “Explore.”Click on “Technology.”Click on “Touring Technology.”Voila! Read (or write) reviews of different products and services.When searching for tools that empower your teams to excel in their work, turning to verified reviews is a game-changer in narrowing down your options.With many solutions saturating the market, the paradox of choice can be overwhelming, requiring significant mental effort to navigate through.At the same time, it’s an incredible time for multifamily buying. It’s more transparent, simpler, and convenient. Thanks to people like you who generously share trusted reviews for your peers and to Revyse for providing a dedicated reviews platform tailored for multifamily.Start Your Search TodayReduce decision fatigue and start your software search with Revyse. If you’re searching for touring technology, read Realync’s verified reviews now.

3 months ago

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Ashley McGovern

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Beyond the Sale: How Trust-Actional Strategies Foster Enduring Partnerships in Multifamily Operations

In the fast-paced world of multifamily operations, as suppliers, we often find ourselves at a crossroads between the pressing demands of transactional results and the deeper, more fulfilling journey of building trust-actional relationships. Our roles, traditionally gauged by the immediacy of sales and the tangible outcomes of transactions, are evolving in a landscape where the rules of engagement are being rewritten. In this dynamic environment, we strive to embody a trust-actional approach, recognizing that the true measure of our success extends far beyond the confines of immediate sales figures. It lies in the strength of the relationships we nurture, the trust we foster, and the long-term partnerships we build with multifamily operators and property management companies. This approach, while challenging in its demand for patience and genuine engagement, promises not just fleeting victories but sustainable growth and mutual prosperity in an industry where relationships are the bedrock of success.In the realm of multifamily operations, the paradigm has shifted from a conventional focus on transactions to a more profound emphasis on fostering enduring partnerships. Throughout 2023 we started to see success transcends the mere act of sales; it hinges on cultivating trust and deploying actionable strategies that extend far beyond the initial transaction, fostering relationships that stand as the cornerstone of sustainable. In this new year, the landscape will continue to change and several thought leaders shared their viewpoint and important values when it comes to partnering with suppliers.Whether it is searching for a new supplier or continuing a partnership with a current supplier, Multifamily strategies have shifted. About 4 out of 5 people in Multifamily say their journey started by “I fell Into this industry and have never left.” The average amount of experience a Multifamily veteran has is 15 years. That is a lot of relationships, a lot of networking, a lot of trust and building credibility. Which is why we look to our trusted colleagues for leading and guiding our decisions with high trust!  44% say they look to past experience with vendors, 41% from subject matter experts in the industry or third party. Revyse survey data from June 2023 shows that 46% of operators START their buying journey by reading peer reviews, and 100% of operators say that peer reviews influence their final purchasing decisions.  Ben Steward, the CRO and Co-founder of Revyse has seen the buying of product and services begin to shift in 2023. “Educational thought leadership content, founder brands, peer-to-peer conversations and transparent reviews all lend themselves to trustworthy content - long before any sniff of a transaction."The value of a trust-actional approach in selling to the multifamily industry is multifaceted and pivotal for long-term success. Trust opens the door to a discussion and opportunity, one must still have the service and product show value. You need both. In the realm of selling products and services to multifamily operators and property management companies, the distinction between a trust-actional and a transactional approach is crucial. Gavin Dickson, a National Sales Manager for TrustHab shares his perspective. “As suppliers in the multifamily industry, we're constantly balancing the need for immediate transactional results with the pursuit of trust-actional relationships. Our success isn't just in the numbers; it's in the lasting partnerships and trust we build with our clients. This approach goes beyond short-term gains, promising sustainable growth and deeper connections in an industry where relationships are key." This distinction significantly impacts how suppliers are perceived and how successful they are in establishing long-term partnerships.Deconstructing the Term Trust-actionalTrust involves multiple aspects of reliance, including consistency, commitment, honesty, transparency, dependability, and support. Building trust requires time, consistent positive interactions, and forgiveness when mistakes occur. Trust is a foundational element in all relationships, leading to stronger connections, deeper relationships, and a sense of security in personal and professional settings. Benefits of building trust include repeat business opportunities, positive word-of-mouth referrals, collaborative ventures, and long-term partnerships.Actional implies an emphasis on taking action or conducting transactions. In a business or sales context, it refers to an approach that prioritizes action, execution, or engagement in various activities related to deals, negotiations, or interactions with clients or customers.Without even fully knowing we as humans approach purchases personally and professionally through a trust-actional lense. There are 4 key areas that round out the idea of trust-actional selling. Relationship-Oriented: prioritizes building a relationship with the multifamily operator or property management company. It involves understanding their long-term goals, challenges, and how the suppliers offerings can align with and support these objectives. Deep Engagement: selling is characterized by ongoing dialogue, tailored solutions, and a consultative style. It’s about becoming a trusted advisor rather than just a supplier. Sustainable Partnerships: By focusing on the client's success, vendors can establish long-term partnerships, leading to repeat business and referrals. Value-Based Selling: This emphasizes the value and ROI of the products or services, moving the conversation away from price and towards how the offering can positively impact the client’s business.Why Trust-actional Matters to OperatorsWe checked in with a select few Property Management thought Leaders and asked them some insightful questions regarding this term: Tust-actional.Regarding Trust and Relationship Value: On a scale of 1 to 10, how important is the relationship and trust factor with a supplier in your decision-making process? Why?Mike Brewer, COO of Radco CompaniesTrue engagement begins with a genuine understanding and respect for one another as human beings. Before considering any pitch or proposal, it's imperative for me to feel a sense of sincere care and connection from a partner. The traditional Socratic approach, which often leads to predictable solutions, does not resonate with me. Likewise, grand gestures such as invitations to the Masters or the Porsche Driving Experience, though impressive, don't necessarily foster the depth of relationship I seek. The thoughtful effort to understand me beyond mere professional interactions truly matters. When this deeper connection is established, my inclination to collaborate naturally follows.Mark Chaplin, VP of Supply Chain of Buckingham(Rated a 10) Very Important. It is imperative to have reciprocal trust between vendor and customer. Although protecting the interest of Buckingham (PMC) is always priority number one, the interest of a quality vendor is a close second. Vendors help maintain the health of daily operations, often acting as an extension of the PMC; therefore, integrity to provide consistent, quality work at a fair price every transaction is a must. Conversely, the vendor must feel that the PMC supports their long-term strategic goals and not viewed as a short-term, low-cost transaction. The greater the alignment, the better the trust and ability to realize success.Feedback and Improvement Focus: How do you typically provide feedback to your suppliers about their products or services? What role does this feedback play in your ongoing relationship and decision to continue working with them?Drew Williams, Regional Manager Radco CompaniesVery directly. No sugar coating and straight, no chaser. To expect perfection is to expect failure, however, when errors or lack of synchronicity are achieved, own it, learn from it, elevate, and try again. I’ll give more than a second chance if I know we’re both in path to grow and prosper. What role does this feedback play in your ongoing relationship and decision to continue working with them? It’s critical; do-or-die. If I can’t have an open narrative and dialogue, I’ll never achieve trust. And if I never achieve trust, then we both should move on.Daniel Paulino, VP of Marketing, BozzutoWe no longer commence new pilots without a co-developed research plan that defines the business problem we are looking to address, the KPIs we need to see to justify the ongoing investment, intended timelines, and the methodology for how we will analyze the data at specific milestones throughout the pilot. It is critical to get internal buy-in from all stakeholders and also external buy-in and approval from the vendor. Without this documentation, the evaluation of the merits of the technology become subjective and open to interpretation by many individuals who will inevitably not agree. Agreeing up front BEFORE the pilot launches makes it a very easy go/no-go decision at the end of the pilot period. This process becomes the feedback and there are ongoing, regular check-ins so that the vendor has transparency into the metrics we are seeing. At the end of the pilot period, we then prepare a comprehensive review of the analytical methodology, trends, results, and our decision to either move forward with a larger scale rollout or not.Evolving Needs and Trends: In the past three years, how have your priorities or criteria changed when it comes to selecting suppliers for software, products, and services? What new elements are you considering now that weren’t as important before?Mark Chaplin, VP of Supply Chain of BuckinghamCentralization. Buckingham (PMC) now has a centralized supply chain team that is focused on processes, policies, and procedures to optimize and leverage all aspects of the supply chain process. This centralized supply chain approach includes both process and technology advances in strategic sourcing, global contracting, tactical purchasing (PR/PO), vendor management, and inventory management to name a few. Aligning centrally creates major efficiency gains including cost savings, risk reduction, governance and control, automation, product and service compliance, and vendor performance. One true north.Mike Brewer, COO of Radco CompaniesI've adopted a more deliberate and thoughtful pace in my approach. We are cautious and discerning, not easily swayed by market trends and hype. A trend I find less appealing is the strategy of some venture capitalists, whom I refer to as 'King Maker VCs.' Their primary focus on increasing unit count often leads to the forced implementation of technology solutions in the multifamily space. I am more accustomed to approaching and engaging our existing partners to prioritize understanding how their developmental roadmap aligns with ours, particularly regarding timelines. Just yesterday, I had a significant conversation with one of our partners. In this discussion, I shared our need to seek a specific solution that could alter our business relationship. My objective was twofold: firstly, to gain insight into their plans for augmenting their existing offerings, and secondly, to ensure they were fully informed about our intentions. This openness is designed to foster collaborative problem-solving or, at the very least, to provide them with ample understanding should we need to transition away from their services.Key Value Drivers: What are the top three attributes or factors you look for in a supplier that make them stand out as a potential long-term partner for your PMC?Mark Chaplin, VP of Supply Chain of BuckinghamReputation: A vendor’s reputation encompasses many factors: quality, performance, reliability, financial security, and customer service to name a handful. Typically, the vendor’s reputation speaks for itself in the industry and is no trade secret; therefore, market feedback typically draws attention to those vendors that Buckingham (PMC) seeks out. Initially these factors can be seen in the bidding/ request for proposal (RFP) process, which gives confidence in the vendor selection process and ultimately the day-to-day operations. Scalability: The vendor’s ability to offer a robust array of products and services in a broad geography is a major factor to leverage business operations. As Buckingham (PMC) grows and emerges in new markets, it is imperative that a vendor has the capability and flexibility to scale seamlessly. Vendor operations in multiple states that offer a diverse portfolio of products and services helps secure a long vendor partnership and meet the minimum requirements to be a qualified vendor. Price: Price will always be a deciding factor on vendor selection and partnership; however, Buckingham (PMC) will always consider the Total Cost of Ownership (TCO). TCO does not always mean the lowest price offered, but rather the alignment of value and price equally. Long term vendor relationships are built on TCO, which translates into the best overall value to price ration for the overall effectiveness of the entire organization.Mike Brewer, COO of Radco CompaniesPrioritize Being Helpful: I deeply appreciate the question, 'How can I be of help to you?' It signifies a readiness to support and adds significant value to our interaction. Focus on Meaningful, Infrequent Interactions: Let's make our time together count. Share updates from your life, and allow me to share mine. Take the time to understand what brings me joy and challenges I face. In these moments, exercise empathy and emotional intelligence. It goes a long way with me. Embrace an Avuncular Approach: Approach interactions with a warm, uncle-like demeanor, fostering a sense of familiarity and trust. Commit to the Long-Term Perspective: Consider the example of Mike Whaling, who patiently built a relationship with me over nearly five years. His dedication and long-term strategy have made him my first choice for all website-related needs for over a decade.In ConclusionAs we start the 2024 year building relationships with a trusted foundation is crucial in cultivating long-term partnerships. By adopting this approach, suppliers can establish a strong reputation within the industry, resulting in increased recommendations and credibility. Understanding the unique challenges faced by multifamily operators enables suppliers to offer tailored solutions that enhance client satisfaction. Trust helps to minimize price sensitivity, as clients acknowledge the added value of the products or services, thereby creating upselling and cross-selling opportunities. Regular interaction encourages a feedback loop, allowing vendors to refine and improve their offerings continuously. In summary, while transactional selling might generate quick sales, a trust-actional approach is more conducive to building sustainable, mutually beneficial relationship. Trust is the foundation of sustained success in selling to the multifamily industry, fostering enduring alliances and mutual growth.

3 months ago

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Jennifer Carter

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Multifamily Marketer’s Guide to Data Privacy

Data privacy rules and regulations are becoming increasingly stringent and it seems that just about everywhere you turn, news about the impending (yet still up in the air) death of the tracking cookie abounds. Multifamily marketers are navigating a complex web of rules and guidelines to ensure compliance and performance in today’s world. In this blog post, we'll explore the key considerations and strategies that can help marketers thrive while respecting fluctuating data privacy regulations. Whether you're running Google pay-per-click, email marketing, or leveraging Facebook retargeting ads for your multifamily portfolio, understanding the impact of these regulations on your marketing and advertising practices is crucial.Where to Start? 👉 Understanding Why Third-Party Cookie Tracking is ChangingThird-party cookies have raised privacy concerns because they allow advertisers to track users' online behavior across different websites. Third-party cookies often operate without explicit user consent, allowing advertisers to gather data about users' browsing habits, interests, and preferences. In response, many users have turned to ad-blocking tools, which further diminish the effectiveness of third-party cookies for targeted advertising. And with the implementation of data privacy regulations like the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), there is a growing emphasis on user consent and control over personal data. Major web browsers, including Chrome, Firefox, and Safari, have already implemented or announced changes to their policies regarding third-party cookies. These changes aim to enhance user privacy and limit the reach and tracking capabilities of third-party cookies. As a result, the advertising and digital marketing industry is shifting toward alternative solutions, such as first-party data, contextual advertising, and consent-based approaches, to address privacy concerns while still providing relevant and personalized experiences to users. ✌️Understanding the Intent of RegulationsData privacy and its impact on multifamily marketing is a complex topic to tackle. So as a marketer, it's important to start by familiarizing yourself with regulations impacting our industry. Every multifamily marketer should be intimately familiar with the Fair Housing guidelines on marketing and advertising, but fewer are up to speed with accessibility as outlined in the Website Content Accessibility Guidelines (WCGA), or even state-level consumer data privacy laws in California, Colorado, Virginia, etc. Take the time to distill down the overall goal of each set of regulations, and if you don’t have that level of comfort or expertise in compliance, your company’s inside council, a peer in the industry, or trade associations can be great resources to get you started. Developing a basic understanding of the intent of these guidelines is an important step forward in aligning your marketing efforts.🤟The Impacts of these Changes on Marketing FunctionsOne area heavily influenced by data privacy regulations is the changing use of cookies. As a marketer, it's vital to grasp how changes in cookie technology can affect your various marketing functions and impact the performance of your campaigns. For instance, retargeting campaigns may experience different performance outcomes due to evolving data privacy rules and subsequent cookie tracking technology changes, and these performance changes can impact your cost per lease metrics. By staying informed and adapting your strategies accordingly, you can maintain compliance while optimizing campaign effectiveness.Shifting Focus to First-Party DataAs data privacy regulations continue to evolve, multifamily marketers are encouraged to shift their reliance from third-party data to first-party data. First-party data is information collected directly from prospects and customers who willingly provide their details. By leveraging this data, you can gain more control over your audience targeting and reduce the need for cookie-based tracking. This shift also empowers marketers to continue personalizing their campaigns while respecting consumer privacy, and not getting caught out when technology changes go into effect.And not only will first-party data give you more control, according to a recent study by MIT, it will also result in way better performance. In the study published in Q3 2023, “Is first- or third-party audience data more effective for reaching the ‘right’ customers?” researchers from MIT discovered that third-party audience targeting performed so poorly that it is no more effective than showing your ad campaigns to random internet users. “The modern digital environment in theory allows marketers to target individuals in organizations through specifically designed third-party audience segments based on deterministic prospect lists or probabilistic inference. However, in this paper we show that in our context, such ‘off-the-shelf’ segments perform no better at reaching the right person than random prospecting. We present evidence that even deterministic attribute information is flawed for ITDM identification, and that the poor campaign results can be partly linked to incorrect assignment of established prospect profiles to online identifiers.”In short - even if your advertising platform of choice claims to be able to reach IT decision-makers at property management companies, or renters who are in-market for a new apartment, chances are high that they actually won’t - and you’ll be leaving your marketing dollars to chance.Using First & Zero-Party Data to Engage ProspectsIn marketing, direct engagement with customers is key. First-party data includes information prospects and residents willingly share with you, such as their preferences, interests, and feedback. But zero-party data takes this a step further, involving active participation from customers to provide personalized insights. So what exactly is first-party and zero-party data? Let’s break it down for you:Example #1: You provide Netflix with your name and email address when you create an account. That is first party data. But after you've established a relationship with Netflix, you begin to tell Netflix the shows you like and dislike - that is zero party data. In turn, Netflix can use that zero-party data to recommend more shows that you’ll probably like. Example #2: You provide your ZIP code to Yelp when you create an account on Yelp. That's first party data. But then you also tell Yelp that you prefer vegan restaurants or that you liked or disliked the Thai place that you went to last night. That is zero party data. And in turn, Yelp can use that data to recommend the best tofu stir fry in your neighborhood. At the end of the day, first-party and zero-party data is all about knowing your audience better, asking them what they want more of, and then acting on that data through your marketing channels. By implementing strategies like pulse surveys and micro quizzes, or simply adding questions to your contact forms to learn more about your prospect’s needs, you can collect valuable zero-party data that enables more targeted and relevant marketing efforts. We spoke with industry expert Eden Chai, Co-Founder and CMO of Flair, who added:"Data is set to become the game-changing asset in Real Estate. Operators who know how to collect data and put it to work will dominate the next decade. Remember, data collection is just the starting point; it's how you use it that moves the needle."Rather than letting these data privacy regulations make you fearful of collecting data, use it as an opportunity to make your marketing smarter.Maintaining Control and ComplianceWith data privacy regulations in mind, it's crucial to maintain control over your marketing campaigns and oversight on the data that you collect. By relying on first-party and zero-party data, you reduce dependence on third-party sources and gain more control over your targeting and messaging. But when first-party and zero-party data aren’t available, look internally for other sources of data that can make your campaigns feel more personalized. When it comes to paid search advertising, consider leveraging a tech platform or vendor who can activate your search campaigns based on your own pricing and availability data feeds, which improves the relevancy of your PPC campaigns. If you have vacancies in a certain floor plan or unit type, leverage that data to adjust bids and ad copy to capture more search demand for that specific unit type. Keep it simple. If a prospect wants a 2 bedroom unit, and your ads for that keyword show 2 bedroom unit copy, you’ll capture their attention. But if they click on your ad and come to find that you don’t actually have any 2 bedroom availability, their experience will be negative. The beauty of leveraging your own internal data to power your marketing campaigns is that it doesn’t require you to collect any personal information about the prospect, but it can definitely deliver a better prospect experience.Redefining AttributionAs data privacy regulations evolve, traditional lead source attribution methodologies have become even less reliable - especially for campaigns and channels that rely on third-party data or tracking cookies. Rather than solely relying on static lead sources in your CRM or Lead Management tool to inform your marketing efforts and budget, it’s high time to consider a more comprehensive approach. When measuring the performance of your marketing campaigns, evaluate qualitative data alongside quantitative metrics. Ask your prospects how they found you to collect zero-party data, and then study that data alongside your attribution data. Does it match, or does it tell a different story? "My favorite attribution hack is to add an open-ended question to our contact forms: 'How did you hear about us?' This is better than dropdown lists which skew results. Regularly, either monthly or quarterly, go through the responses and find the recurring themes. You'll be surprised at what you might find." says Chai.Zero-party data gives marketers a more accurate understanding of the true customer journey and can help your budget pack a serious punch. ConclusionNavigating multifamily marketing and data privacy regulations requires a proactive and informed approach. By understanding the regulations, embracing first-party and zero-party data, and reevaluating attribution strategies, multifamily marketers can successfully navigate this changing landscape. Prioritize data privacy compliance, focus on customer experiences, and adapt your strategies to build stronger connections with your audience. By doing so, you'll be well-positioned to drive growth, improve campaign effectiveness, and maintain compliance in the multifamily industry's evolving marketing landscape.

4 months ago

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Bobbi Steward

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Are We Falling Short When it Comes to Maintenance?

Over the last several years, our industry has become aware of prospect expectations when it comes to the leasing experience. We have heard loud and clear their desire for flexibility, exceptional user experience, and access to a subject matter expert to ask questions. Not only have we become aware, but many management companies are realizing they must take action and implement new technologies to meet these expectations.On the other hand, when you look at the resident’s experience with maintenance, we are a bit behind. Through the last 3 or so years, we have focused heavily on how we are attracting and winning prospects, but now it is time to catch up and look at the resident experience - specifically with maintenance. The industry's staggering stat these days is that 92% of residents have not had a positive experience with maintenance. That means, only 1 out of every 10 residents have had a positive experience when it comes to meeting their service requests. That number alone should really light a fire for us to dig deep and look at the needs and desires of our residents. Most recently, I was reviewing the 2022 vs 2023 Work Order Survey from Satisfacts (Stats Jan through Oct, both years) and was saddened by the year over year scores. All 8 of the questions are important, no doubt, however what is even more astonishing is these are controllable areas the onsite team can correct. You may be saying, sure we onsite staff can do better, but how do we do better with so many tasks on our plate? Its the never ending employee struggle. This is where we must look to be able to optimize our team with technology. As an industry we are starting to see many teams focus on specialization by trade or skill, and add in a layer of technology (service or product) to move these industry statistics in the right direction. We have continuously heard that residents want to be able to self-serve as much as possible. And this sentiment really goes for multiple generations: Baby Boomers (born 1946-1964): Baby Boomers may have grown up in an era where DIY home maintenance and repairs were more common, and as a result, some members of this generation may still be willing and capable of handling minor repairs themselves. Generation X (born 1965-1980): Gen Xers are often more self-reliant and resourceful, and many of them are comfortable with basic DIY tasks. They might be willing to handle minor repairs but could also value their time and prefer to hire professionals for more complex jobs.Millennials (born 1981-1996): Millennials tend to have a mixed relationship with DIY maintenance. Some are quite capable and prefer to use online resources to learn how to perform repairs, while others may have grown up in urban environments with less exposure to DIY skills and are more likely to hire professionals.Generation Z (born 1997-2012): Generation Z is a tech-savvy generation, and they may be more inclined to use online tutorials and resources to tackle DIY projects. They are known for their resourcefulness and might be willing to learn how to do basic maintenance and repairs.Looking at each of the generations, there is a subset that are willing to DIY with the help of a maintenance tech via text or facetime. Regardless of the generation, all residents want the ease and simplicity of digital services and self service. They like how it makes them feel connected, informed and in control of their experience.  What might this look like when it comes to maintenance? Two key areas we must deeply reflect on: Self Service: Residents expect prompt response and resolution of maintenance requests. Offering the option for residents to be able to fix the small easy service requests, allows them to complete it when they are available. Not to have to lock up a pet, clean up their home, wait for a specific time or have to re-arrange their schedule.  A great analogy from outside of our industry is Grocery Shopping: We as a consumer have options, right? We can pick up our order, shop our order in-store, or have them delivered. We are able to choose what works for us when it works for us. One week I may want to go to the store and later that same week, I might be busy and need them delivered. We have the freedom and flexibility to meet our needs.  When it comes to maintenance, self service is no different. What we learned several years ago is residents are eager and willing (80% of residents actually) to walk through how to fix a GFI, a toilet flapper, a garbage disposal etc, via text or a facetime call. Again this option meets them on how they currently experience services in their everyday life. Effective Communication: Clear and open communication with property management is vital. Residents want to know the status of their maintenance requests, including when and how the issue will be resolved. Leaning into technology and automation is going to be the winning solution. A quick analogy, Amazon is amazing at effective communication, we always know where our package is. Technology has allowed us to transparently know when our package will be delivered. Not only does the self service option create an outstanding customer experience, but with a shortage of maintenance techs (and the gap becoming larger) focusing on and investing the technicians which are currently employed can advance all parties. The average age of a maintenance tech is 48 years old, and most retire around 55 to 60. When we look at that number, that leaves us with on average 10 years left where the gap may not get smaller if the younger generation doesn't enter the field. We must look at opportunities to invest in our current and new maintenance techs, create ways - again with technology - to not burn our maintenance techs out. They should not be working 24/7, on call, and weekends. If we can focus on optimizing our teams, creating opportunities for the resident to receive self service, and of course focus on optimizing our communication with the residents, we can see our resident satisfaction scores increase which will lead to resident retention and more rewarding renewals. 

5 months ago

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Jennifer Carter

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OpTech 2023 Takeaways

I've been enjoying reading everyone's takeaways from #optech2023Everyone sees through a slightly different lens - but the underlying themes are somewhat clear. The lens that we look through at #Revyse is a fun one. It's agnostic of operator or vendor. It has a skew towards B2B software sales, B2B marketing, category trends and technology stacks.Before my takeaways - huge shout out to Rick Haughey, Sarah Yaussi, Sharon Wilson Geno - and the team at NMHC. This event was fantastic.Here are my top takeaways:1️⃣ - In person events are just awesome. The people you bump into, the friendships you make, the high fives. We already can't wait for Social Media Summit in Napa.2️⃣ - It's NOISY out there. The expo hall was packed full of vendors - and I understand that there were close to 100 MORE vendors on the waitlist. Sentiment was largely that if meetings weren't pre-set it was very hard to capture attention on the show floor. But we all knew that, right?! In our #Revyse buyer survey - only 12% of buyers said that they start their search for new vendors at a trade show. Buyers are doing their homework online.3️⃣ - The sessions were some of the best of any show that I have attended. The panelists were thoughtfully selected, operator skewed, covered a broad range of pressing topics, and were well moderated.Shout outs to:Hope Dunleavy - for leading a PACKED room for the NMHC / Real Foundations CX survey.Marcella Eppsteiner and Joya Pavesi for sharing their thoughtful CX tech survey insights.Julianne Goodfellow for leading an awesome session on a topic that is widely under-discussed (but will get much, much louder) - Cybersecurity and Data Privacy.Melody Reid and Dustin Lacey - for sharing their actionable insights on data visualization.Bobbi Steward for co-hosting the Women in Multifamily Tech Meetup.4️⃣ - 2024 is going to be HARD. Operators are now heavily budget strapped. Almost all new software spend is going to need to be offset by a tangible cost saving. Business cases and economic justification are going to need to be lock-tight. Appetite for risk will be low. Focus from both operators and vendors will need to be on renewals as competition increases in nearly every category. Broken promises on fancy features to come will likely result in category shopping. Hefty price increases will be heavily scrutinized and likely result in category shopping. In almost all of our conversations - operators are going back to basics - and looking for opportunities for simplification.5️⃣ - Change fatigue is real. Covid forced multifamily to adopt a ton of new software. Quickly. Operators are now taking stock of the number of dashboards users need to log into and just how much software is being used to run a multifamily operation. Hint; It's a ton. 🙌

5 months ago

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Ben Steward

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Introducing Revyse Vendor Intelligence

It’s been a BUSY 6 months for the team at Revyse, and we’re just getting warmed up. 🔥It’s always been our promise to make it easier for operators to discover, buy, and manage multifamily tech + tools, so we’re thrilled to announce the release of our newest product, Revyse Vendor Intelligence.Revyse Vendor Intelligence is the modern contract + vendor management platform designed to help operators centralize and streamline the growing roster of vendors required to operate today’s multifamily portfolio. Get a unified view of all your third-party contracts, collect and manage vendor details, including business, legal, and risk information, and visualize products and spend by resident lifecycle stage, department, region, and ownership group - even down to the location level. ☝️ Single source of truth for your tech stack. Get visibility into your tech + tools across the resident lifecycleDrill down to view vendors + spend across department, region, owner, and location✌️ Get a unified view of all your contracts and spend.Collect + manage third-party vendor details, including business, legal, and risk informationDesignate functional owners, contract approvers, and house vendor contact + billing information Track IT risk and security/compliance documentation for each vendor🤟 Save money on software and services. Built on Revyse’s unified vendor marketplace, leverage the largest unbiased database of multifamily vendors + ratings, see which suppliers are trending, and evaluate common alternativesAutomate renewal reminders, add procurement workflows, and send one-click disposition noticesRightsize agreements, eliminate product overlap, and reduce redundanciesRevyse Vendor Intelligence is the only multifamily vendor management platform designed to handle the complexity of recurring software + technology contracts. Built to track tech, but capable of tracking anything. Check out the video snippet below as Revyse CEO Bobbi Steward introduces Revyse Vendor Intelligence on the Apartment Academy podcast with Daniel Cunningham. Watch the full episode on YouTube.Apartment Academy - Revyse Stack Intelligence.mp4

5 months ago

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Team Revyse

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How Buyers Are Modernizing Old-School Sales Processes

👉 Revyse Co-Founder, Ben Steward, recently met up with Nate Smoyer of Tech Nest to talk about how Revyse is empowering software buyers to modernize the sales process, making it easier for multifamily industry professionals to shop for proptech.

6 months ago

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Team Revyse

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Touring Technology | Revyse Tech Buyer's Guide

In the multifamily housing industry, embracing innovative touring technology is crucial for staying ahead of the competition and delivering great resident experiences. Touring technology streamlines the leasing process, enhances operational efficiency, attracts prospective residents, and delivers exceptional experiences.These advanced solutions offer efficiency gains and profit potential for operators of all sizes. However, with so many options available, choosing the right touring tech vendor can be a challenge, even for multifamily veterans. Luckily, B2B software buyers no longer have to blindly rely on sales pitches and marketing claims when evaluating touring technology vendors. Decision-makers now have access to self-service demos, transparent customer reviews, and comprehensive vendor data, so you can ensure that your final choice perfectly aligns with your goals.In this guide, you’ll gain insight into the touring technology purchasing process, including how to define your specific requirements, analyze features meticulously, and evaluate vendors. Using these expert insights, you can shop with confidence for the perfect touring technology solution for your multifamily business.Where to Start : Understanding Your OptionsThere are plenty of reasons to invest in touring technology. Touring technology can save time and resources for multifamily properties by reducing the time it takes to schedule and accommodate tours. Everyone benefits when time-strapped team members can use the time otherwise spent facilitating tours for more important tasks.Today, there are many different types of touring technology platforms on the market. Let’s explore the main types of touring technology platforms, so you can decide which solution makes the most sense for your portfolio. 3D Renderings: 3D scanning and rendering technology create a digital replica of the apartment unit by accurately capturing a property's physical characteristics. Potential residents can navigate the property and visualize it from various angles as if they were actually on-site. You can even use 3D rendering to imagine what a unit would look like fully furnished. This gives additional context to residents regarding how much stuff a room can accommodate. Interactive Floor Plans: Interactive floor plans are a valuable tool that helps potential residents visualize the layout of multifamily units in detail. Instead of relying solely on written descriptions or static floor plans, residents can interact with a virtual representation of the property's floor plan. Renters can explore room dimensions and furniture placement options, so they can double-check that their belongings fit in the space before move-in day.Video Tours: These platforms provide tools to create pre-recorded video tours that are available to prospects around the clock, allowing them to explore potential living spaces at their convenience, whether it's during a lunch break, or on the weekend. The idea is to replicate the experience of an in-person tour as closely as possible. 360-Degree Video Tours: With 360-degree video tours, prospects can view apartment homes on their computers, tablets, or smartphones, and can virtually explore a property by simply rotating their view in any direction. This technology provides a more comprehensive understanding of the property's features, architecture, and surroundings than a traditional image or video.Livestream or Virtual Tours: For prospects who are unable to attend an in-person tour, livestream tours offer a real-time, guided virtual touring experience. Livestream tours bridge the gap between physical and pre-recorded videos, providing a more personal touch to the leasing process. Potential residents connect with a leasing agent or property manager, who will then guide them through the property via video call. During the tour, renters can ask questions, request a closer look at specific areas, and receive desired information right away, from a real person. Virtual Reality (VR) Tours: Virtual reality tours completely change the way prospective residents explore multifamily properties. With VR technology, renters can experience a fully immersive and interactive tour of a property. Using a VR headset, potential renters can virtually walk through each unit, view communal areas, and get a sense of the property's layout and design. VR tours offer the flexibility of touring multiple properties in different locations without physically being there, saving time and resources. This technology provides a more engaging and memorable experience compared to static images or videos.Self-Guided Tours: Self-guided tours offer a convenient way for prospects to explore an apartment in-person, without the need for a leasing agent to accompany them. Prospects can schedule tours on their own time, even during evenings or weekends. Self-guided tours usually involve submitting photo ID and a selfie for verification purposes, before a prospect is given a one-time code to access the property. This code is used to unlock a smart lock or lockbox on the touring unit, and sometimes, even bluetooth-enabled locks that use mobile pass credentials for secure access to community spaces as well.Want a quick-and-easy way to explore products in the space? Check out the Touring Technology category page on revyse.com to discover multifamily solutions and read verified user reviews.Define Your RequirementsPutting together a solid business case and clearly expressing what you need out of a new touring technology platform can greatly impact how well you evaluate and choose the right tech for your business.It's essential to sort out and document exactly what you require in a new software or service, as it will help you focus on finding the best fit for your needs. When you’re clear on the requirements of your new tech stack, you can quickly narrow down your options and concentrate on touring technology solutions that will achieve the results you’re looking for.💡 Pro Tip: For a deeper dive into the concept of technology requirements, what they are, and how to write them, take a look at this article from the team at Revyse. There is no one-size-fits-all rule when it comes to your touring technology requirements. Identify and rank the most important factors based on their significance to your business and its goals. If you have any non-negotiable considerations, put those at the top. More flexible requirements can go toward the bottom of the list. Your unique requirements will vary based on your needs. However, there are a few requirements you are likely to have when evaluating the latest touring technology:Example Requirements✅ - Integrates with Existing Marketing ToolsIf you use other property management or marketing tools to measure prospect engagement and deliver leasing opportunities, or if you want the touring technology to live on your website or in your marketing campaigns, you’ll likely want touring tech that will integrate and scale with your existing tech stack. If you’re looking for an in-person self-guided touring platform, you’ll want to make sure the tech integrates with any access control or smart locks you may have onsite.✅ - User-Friendly InterfaceThe touring technology you choose should have an intuitive prospect interface that is easy to navigate for a positive end-user experience. Said another way, if the tool is going to be used by your onsite teams, pay special attention to how often they would need to log in and access the platform, and how much ongoing work would be required to maintain accuracy.✅ - Works Well on Mobile DevicesCheck if the technology is compatible with mobile devices. Having mobile-responsive features is paramount for property tours on the go.✅ - Customization + Branding OptionsThe ability to customize the platform with your company’s branding, property information, unit amenities, and any specific features you’d like to call out provides a personalized experience for potential renters.✅ - Analytics + InsightsOpportunities to capture engagement data during the prospect touring phase can be invaluable (views, video plays, link clicks, etc), as your company will be better able to gauge buyer interest and adjust your touring strategy accordingly. Establishing the requirements for your touring tech evaluation and writing them down ahead of time will help you stay focused during the research process.Evaluate Key FeaturesWhen choosing a touring technology platform for your multifamily portfolio, it's essential to consider the key features that each platform offers. Not all touring technology solutions are created equal, and understanding the right features to look for with each solution type will see to it that you make the most informed decision possible. 💡 Pro Tip: The multifamily industry is nuanced, so when you’re researching, look for vendors that have specific industry experience and positive customer feedback from multifamily companies that share a similar size, investment strategy, submarket, or area of focus as you do.As you go through the process of shopping for different touring technology platforms, consider creating a checklist or simple comparison table in Excel. This way, you can put each potential solution next to each other and see how they match up with what you're looking for.Below are some of the most important features to evaluate when considering a touring technology platform:Detailed Property Information: Determine whether the solution provides helpful details that go beyond unit number and square footage. Information about in-unit amenities, energy-efficient features, or renovation history encourages future renters to make informed decisions.Ask: “Can prospects see specific unit characteristics or community details during the tour interaction?”Real-Time Availability Updates: Some platforms keep potential residents informed about unit availability or offer a waitlist option for popular units. These features ensure that prospects stay engaged and have the opportunity to secure their preferred living space.Ask: “Does your touring technology platform handle real-time availability updates for units? Is this automated?”💡 Pro Tip: It’s a big deal to ask your onsite teams to manually update unit availability in a touring platform. You may want to spend time considering how to integrate the new technology with your team’s existing processes if this is the case. Integrated Chat and Messaging: Chat features can facilitate direct communication between prospective residents and leasing agents during or after the interactive, virtual, or self-guided tour. This allows for quick responses to inquiries, improving the overall user experience and increasing the likelihood of conversion.Ask: “Does your touring technology platform offer built-in chat and messaging features for our leasing agents to engage with prospects?” Seamless Transition to Online Applications and CRM: Enabling prospects to easily complete online applications and sign leases shortly after touring can boost the leasing process. This convenience reduces paperwork, accelerates decision-making, and enhances overall efficiency.Ask: “Does your solution have a native way to connect prospects to our online application portal for a quicker conversion process after touring?”Seek Recommendations and ReviewsWhen it comes to selecting the right touring technology partner for multifamily communities, recommendations and reviews can provide invaluable insights into a potential solution’s capabilities.One of the key factors to consider is a vendor's history of serving the multifamily industry. When selecting vendors for multifamily properties, choose those with experience meeting the industry's specific requirements.Look for testimonials and customer success stories. This demonstrates the vendor’s ability to address unique challenges, streamline operations, and enhance the leasing process for multifamily renters.In addition to success stories, vendor reviews play an indispensable role in the evaluation process. Platforms like Revyse serve as valuable resources for accessing candid opinions from other multifamily professionals who have experienced the technology firsthand. Decision-makers can learn from industry peers' experiences and feedback to better understand potential partners' strengths and areas for improvement.💡 Pro Tip: Revyse can help you shop for multifamily technology solutions that span dozens of categories. View the full list of Revyse-rated categories at this link.Assess IntegrationsIntegrations are crucial in the multifamily operations world. Most multifamily portfolios use an array of software tools to manage different things, like property management systems, customer relationship management (CRM) software, and general communication between residents and the leasing office. That’s why you should take a hard look at how your technology providers approach industry integrations before voting with your wallet. Integrations pave the way for seamless connectivity between different software platforms, ultimately contributing to a more efficient and effective leasing process.Integrations create a cohesive ecosystem where data flows seamlessly across platforms, reducing manual data entry and minimizing errors. For example, integrating a touring technology solution with a property management system can ensure that tour data, leasing information, and prospect details are synchronized in real-time. That allows for accurate reporting and more effective decision-making.When evaluating touring technology partners for their integration capabilities, here are some questions to ask:What integrations does your platform support? Are they bi-directional or fully integrated? Can we push and pull information from one system to another? How seamless and user-friendly is the integration process?When tours are scheduled, will they automatically appear on our onsite team’s calendars?Do you have any examples of current clients who have integrated this technology into their current tech stack?How does the integration ensure data consistency and accuracy across integrated platforms? How often is data synchronized? Does the technology solution provide API access for more advanced integrations, if we were to need a custom solution? Can the integration accommodate future technology changes for our portfolio, if we were to adjust our tech stack?What security measures are in place to protect data as it moves between integrated platforms?Double-Click on Security and Privacy in Self-Guided TouringIn an age where privacy concerns frequently make headlines, protecting prospects and residents is a major responsibility of any multifamily provider who wants to implement touring technology. When evaluating self-guided touring technology providers, look for a robust and comprehensive security framework that shields sensitive data, like prospect ID verification data, community and unit access codes, payment information, or lease applications from unauthorized access.Transparency is equally important. A reputable touring technology partner should readily disclose their security measures, privacy policies, and data handling practices. If you want to learn more about how a vendor handles security and privacy concerns, consider asking the following questions: How does the solution control user access to the community or the touring unit?Does the technology authenticate the identity of users prior to providing them entry?Can we see logs of which users accessed the units? Both prospects and our onsite employees?What measures are in place to monitor and respond to potential security threats or breaches?How is user consent obtained, and do prospects have control over their shared data?Who owns prospect data?How is prospect data encrypted during transmission and storage, and what encryption standards are employed?How does the solution control secure data sharing with third-party integrations?How transparent is the company about security practices and any changes that may affect users?Ask About Customer SupportWhen evaluating touring technology providers for multifamily buyers, one crucial aspect to consider is the level of customer support offered by the company. Having good customer support can greatly enhance your experience and success when implementing multifamily touring technology.Good customer support will also enable seamless onboarding and training for your onsite teams. Anytime you implement a new technology, you should expect a learning curve, as your managers and leasing agents learn how to use touring technology across your portfolio. A provider with excellent customer support will offer comprehensive onboarding and training sessions, so your team can effectively use the technology from the outset. A provider with excellent support will also be on-hand to provide any troubleshooting and technical assistance needs that arise. Prompt troubleshooting facilitates a smooth and uninterrupted experience for both technology buyers and the residents who will use the platform.Finally, you should look for a provider who is open to user feedback. Touring technology users are knowledgeable about the pros and cons, making them a valuable resource for companies to improve their products and services. Don’t be afraid to ask the provider how they handle customer feedback and use it to improve and refine their technology. Compare Pricing OptionsA top-tier touring technology platform is no small expense. When shopping around for the best solution, make it a point to compare pricing options for the platform. Different providers offer various pricing models, including one-time costs, subscriptions, or pay-per-use options. By evaluating costs against features, you can choose a solution that fits both your needs and your budget.Additionally, gathering pricing information will help you learn more about how scalable and flexible the solution is. You might find that some providers offer adaptable pricing for seamless integration that grows alongside your business. For software based platforms, you should also ask about trial periods or pilot programs. Trial periods are free and allow you to try out the touring platform before you agree to a full-scale implementation. Pilot programs can be free or paid short-term agreements that give you more time to test out the program before you deploy it portfolio-wide. Most pilot programs last around 3 months. 💡 Pro Tip: Learn everything you need to know about setting up and conducting successful pilot programs in this deep dive article. Finally, don’t forget to inquire about any extra costs or fees for creative assets (property photos, video creation, graphic design) that may affect the total cost of ownership. If you neglect to ask, you may encounter unexpected or hidden fees that could blow up your budget following implementation. Don’t Overlook ImplementationOnce you’ve settled on the ideal touring technology partner, you’re going to want to start using the platform as soon as possible to deliver a seamless, modern touring experience for your prospects. But, before you can do that, you have to implement the new tool – which is why getting important details about this process is a must-do before you sign any contracts.A well-planned and executed implementation process keeps operational disruptions to a minimum while enabling your team to maximize the new technology’s benefits. Prompt implementation is particularly important in the competitive multifamily industry, where quick response times and efficient communication can make a significant difference in securing leases. Your chosen touring technology partner should not only offer a robust solution but also have a track record of delivering on-time and hassle-free.When evaluating implementation schedules, here are some key questions to ask:What is the estimated timeline for the complete implementation of the touring technology solution, from initial setup to full rollout?What preparations are needed from our end to facilitate a smooth implementation?What training and onboarding processes are in place to assist our corporate and onsite teams with using the technology effectively?If applicable, how will existing property data be transferred to the new solution?Is there a process for reviewing the implementation and addressing any challenges that may arise after we roll it out?Finalize Your DecisionTouring technology solutions have transcended conventional property touring, becoming dynamic tools that streamline sales, enhance prospect engagement, and elevate the resident journey.From immersive virtual tours that bridge geographical gaps to real-time availability updates that empower renters with instant information, touring technology is not only impressive but pivotal in staying competitive in a fast-paced industry. When choosing a technology partner for touring, use this guide to find solutions that deliver tangible value beyond innovation. For more information on popular multifamily tech tools, trust Revyse for real reviews from multifamily professionals just like you. Happy software shopping!⭐ ⭐ ⭐ ⭐ ⭐Team Revyse

6 months ago

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Team Revyse

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Hosting a Memorable Virtual Event in the Revyse Community

Live events, especially virtual ones, are the new normal. They bridge gaps, connect communities, and are powerful tools for businesses and individuals. Whether you aim to enhance brand visibility or position yourself as an industry authority, hosting a successful virtual event is paramount. Choosing the Revyse Community to host your event enhances your reach and ensures your content remains evergreen, offering enduring value.This is a step-by-step guide on how to host a successful virtual event in the Revyse Community. Inside This Guide:The Importance of Live EventsCrafting the Perfect TopicSpeaker InvitationsPlanningPromotionEvent ExecutionWhat's Next? Making Content Live On1. The Importance of Live EventsWhy should you consider hosting one?Brand Visibility: An event puts your brand right in front of your target audience.Industry Leadership: Position yourself as an authority in your niche.Strengthen Partnerships: Show off collaborations and partnerships that matter.Unique Voice: Be heard, and let your unique perspective shine.2. Crafting the Perfect TopicSelecting the right topic is the essence of a memorable event. Dive deep into your value proposition. How does it serve your customers? If, for instance, your value is saving onsite teams time, consider discussing topics around burnout, retention, or future automation trends.Golden Rule: Always approach your event with a consultant mindset. You're there to help, not to sell. The best events are those where attendees leave with value, actionable steps, and a positive perception of your brand.3. Speaker InvitationsEvents are as good as their speakers. My favorite? A sharp interviewer paired with 1-3 experts.What to look for in speakers:Unique expertise or perspectiveRelevant data and insightsPotential promotional benefit (do they have a significant following?)Relevance to your industry or an adjacent oneDon’t forget about the moderator. This individual should be articulate, knowledgeable, and engaging – they're steering the ship!4. PlanningOnce you've got your speakers, it's time to dive into the nitty-gritty. Selecting the right date and time is crucial – consider global time zones and avoid event-heavy days. Once that's set, send your event details to community@revyse.com, and we’ll get it posted in the community, along with a notification email to all members about the upcoming event.Be sure to include:Event title and descriptionDate and timeSpeaker namesDesignated host (person who will be running the live stream)Cover photo - 840 x 300Pro Tip : Your designated host must have an active user account in the Revyse Community in order to take on the moderator role and successfully kick off the live stream. Don’t have an account? Reach out to community@revyse.com for help.5. PromotionTo ensure your event garners the attention it deserves, you need a robust promotion strategy that taps into various channels. Here’s a foolproof game plan:Organic Social Media:LinkedIn: Use your company’s profile as a launchpad, posting about the event 2-3 times in the lead-up.Revyse: Leverage Revyse’s industry discussion topics if relevant. If not, the home feed is your friend. A day-before reminder post can give that last-minute registration push.Company-Wide Engagement:Internal Channels: Use platforms like Slack or Teams for internal announcements. Encourage employees to attend and share the event within their networks.Value for All: Remind internal teams that such events offer insights into the industry, helping them understand customer needs better.Email Outreach:Craft a compelling email invitation and send it to current customers, potential prospects, and partners. This direct approach often garners the most traction.Leverage Guest Speakers:Collaborate with your speakers for promotions. Provide them with necessary promotional assets and encourage them to spread the word within their communities.Paid Advertising:Consider paid LinkedIn ads for flagship events or when aiming to fill your lead funnel. It's an investment but can exponentially increase visibility.Pro tip: Remember, attendees sign up for the value the event promises, not a sales pitch. It's crucial to nurture this audience post-event, providing them with more relevant content until they express interest in working with you.6. Event ExecutionHosting seamless events requires preparation and presence:Be Prompt: Arrive 5-10 minutes early to address last-minute tech issues.Stay Organized: Use dual screens or print your notes, keeping your questions and talking points easily accessible.Engage Your Audience: Monitor chats and Q&A. Where possible, encourage live audience questions to foster interactivity.Set the Scene: Remind speakers about optimal video setups including good lighting, centered camera positioning, and using headphones.7. What's Next? Making Content Live OnAfter the virtual curtains close, your event's essence should continue to resonate. Here's how to ensure it:RecapDraft a concise recap blog or email, spotlighting key takeaways and acknowledging speakers. Link it to resources and profiles mentioned during the event.Video Snippets for LinkedIn:Identify the mic drop moments in the conversation and edit them into smaller munchable video clips to stop the scroll on LinkedIn.Use tools like Veed.io for subtitles or LinkedIn auto subtitle feature, ensuring maximum engagement even when the sound is off.Turn quotes into graphics:Create compelling quote cards from speaker insights using Canva.Convert data shared into easy-to-digest infographics.Engage FurtherConsider a follow-up Q&A or feedback session, keeping the event's momentum alive and gathering insights for your next big show.Evergreen on RevyseYour event’s impact goes beyond the live session. The recording will be permanently available in the Revyse Community, allowing anyone to revisit and absorb its value anytime.Conclusion Live events are opportunities to amplify your voice, connect authentically, and position your business and personal brand at the forefront of industry conversations. By hosting impactful virtual events, you share knowledge and build lasting relationships, reinforcing your brand's relevance and resonance in a digital-first world.If you would like a 30 minute free consultation with a virtual event expert, email community@revyse.com.

6 months ago

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Sydney Webber

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Making Multifamily Proptech More Shoppable

👉 In multifamily, finding the right software vendor can be a full-time job in itself. Bobbi Steward recently sat down with Neil Helsper on an episode of Arguments with Words to talk about how Revyse is helping multifamily decision-makers streamline their tech buying processes. She also reveals what 92% of software buyers are looking for and shares how Revyse will ensure that multifamily won't be "10 years behind" ever again. Watch a sneak peek of their conversation below, and be sure to catch the full episode on Spotify or Amazon.Bobbi LinkedIn Clip Final.mp4

6 months ago

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Team Revyse

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Deep Dive into Pilot Testing

Testing, testing….1, 2, 3. Is this thing on? For multifamily decision-makers who are ready to evaluate new tech and tools, pilot tests can be a valuable tool for making confident and informed software buying decisions. Getting hands-on with new products and technologies before committing to a full-portfolio roll out is every multifamily tech buyers’ dream, but conducting a successful pilot test that actually produces meaningful results can be hard. In this article, we’ll dig deeper into the benefits of pilot programs and explore best practices for setting up the ideal pilot test to crush your technology performance goals. But first up, let’s talk definitions.Pilot Testing BasicsWhat is a Pilot Test? Pilot tests, sometimes also known as beta tests or pilot programs, allow multifamily technology buyers to implement a software or technology solution on a limited scale in a real-world setting. They offer an opportunity to measure the potential impact of the solution on performance before committing to a full implementation across your entire multifamily portfolio.💡 Pro Tip: Pilot programs can be free or paid, typically involving live product testing for 90+ days on a handful of active properties in your portfolio. The purpose is usually to gather data on performance.How is a Pilot Test Different from a Trial Period?While trial periods also provide hands-on experience with software, they differ from pilot tests. Trial periods may not always involve live data, and the product version available during trials may have a reduced feature set, limiting the understanding of its performance within your existing tech stack.What is the Benefit of a Pilot Test?Pilot tests help you measure the quantifiable impact of the product on performance, without the commitment of a full portfolio implementation. They’re a chance to go hands-on and put new software to the test in a real-world setting. Planning Your Pilot TestWhile pilot tests can be pretty straightforward, careful preparation and thoughtful setup can significantly impact the end result. The key to running a successful pilot test is to establish clear objectives and measures of success in advance. Here’s a step-by-step guide to setting up a successful pilot test.First, Assemble Your TeamAlone, you may go fast, but together you’ll go farther. When kicking off a successful pilot test, gather a team of enthusiastic subject matter experts to join you on this software journey. You'll need their valuable insights, user feedback, and expertise to make the most out of the pilot test. Together, you'll navigate the implementation and setup, and be able to conquer any challenges that come your way.Next, Define Your ObjectivesBefore kicking off the test, establish clear objectives for your pilot test. What specific goals do you want to achieve? Whether it's streamlining operations, boosting resident satisfaction, or increasing revenue, make sure your objectives align with your overall multifamily business strategy. Document your goals and be sure to refer back to them along the way. Most Importantly, Define Your KPIsDefining pilot test key performance indicators (KPIs) is crucial for measuring the success and impact of your pilot test. KPIs provide a clear framework to assess the software's performance and determine whether it aligns with your objectives. Here are some steps to help you define pilot test KPIs effectively:1. Start with Clear Objectives Refer back to the objectives you established before the pilot test. What specific goals do you want to achieve? For example, if your objective is to streamline operations, relevant KPIs could include reducing maintenance response times or improving leasing conversion rates. Make sure your KPIs directly align with your objectives.2. Identify Measurable MetricsDetermine the metrics that will allow you to measure progress and success. These metrics should be quantifiable and directly related to the objectives. For instance, if one of your objectives is to boost resident satisfaction, you might track customer satisfaction ratings or the number of positive online reviews received during the pilot test.3. Set Realistic TargetsBased on your own internal historical data, or available industry benchmarks, set realistic targets for each KPI. These targets should challenge the software to perform well while remaining achievable within the pilot test's scope. If you’re testing a brand new category and don’t have any internal metrics available to use as a reference point, you should ask the vendor for data comparisons from their current customers as a starting point. 4. Establish Data Collection MethodsDefine how you will collect and track the data required for each KPI. This may involve leveraging the software's built-in analytics, integrating with your existing systems, or manually recording data. Ensure you have the necessary tools and processes in place to gather accurate and reliable data throughout the pilot test.5. Determine Frequency and ReportingDecide on the frequency of data collection and reporting for each KPI. Regular updates will allow you to monitor progress and make timely adjustments if needed. Consider whether real-time reporting, weekly updates, or monthly summaries best suit your evaluation process. 6. Document and CommunicateDocument your defined KPIs, including the metrics, targets, data collection methods, and reporting frequency. Share this information with your pilot test team, stakeholders, and tech vendor to ensure everyone is aligned on the evaluation criteria and expectations.7. Monitor, Analyze, and AdjustConsistently monitor the performance of the technology and track the KPIs throughout the pilot test period. Analyze the data collected and compare it against your targets to assess the tool’s effectiveness. If necessary, make adjustments to your strategy, workflows, or objectives based on the insights gained from the pilot test.By defining clear and measurable KPIs for your pilot test, you'll have a solid foundation for evaluating the software's performance and determining its suitability for wider implementation. Remember to remain flexible and open to adjusting your KPIs if you discover new insights or priorities during the pilot test process.Setting Your Test Up for SuccessSuccessful testers always create the perfect testing environment to simulate real-life scenarios and use real workflows when testing a new tool. Choosing locations to use as your test group is just as important as measuring the performance of your test. Be sure to take time to customize the software settings, input relevant portfolio data, and mimic your usual, standard workflows. This will help you assess how the software performs within your unique multifamily ecosystem.Choosing Your Test GroupsFor marketing or operational technologies at the property level, the most successful pilots are conducted on owned communities or in partnership with innovative asset managers or ownership groups. 💡 Pro Tip: Avoid selecting pilot properties that are in lease-up, new to your portfolio, or potentially going through dispo, as these scenarios could interrupt data collection. As a best practice, choose a set of pilot properties with community counterparts in the same geographic area. Assign one property to the pilot group and leave another unchanged as the control group. For example, if you have two communities in Uptown Dallas, select one for the pilot and one as the control. This allows you to measure the impact of the new technology by comparing the performance changes between the two properties experiencing the same market conditions. Go-Live and Beyond Now that you’ve structured your pilot test and have defined your protocols, your test is ready to go-live. But the work doesn’t stop there. Once your test is live, you and your team have a different set of priorities - evaluation and collaboration. Explore and Evaluate Along the WayOnce your pilot properties are live, let your team and residents experience the software's features, functionality, and user-friendliness. Involve relevant team members and end-users who will work with the tool daily. Encourage feedback, monitor its performance in various tasks like leasing and maintenance requests, and push its limits. Identify any pain points or areas for improvement, and gather feedback from team members and end-users to ensure the solution aligns with their workflows. This will provide valuable insights for fine-tuning and optimizing the software.Collaborate with Both SidesMaintaining open lines of communication with the software vendor throughout the pilot test is key. Share your findings, seek their expertise, and collaborate on solutions. A strong partnership with the vendor will ensure a smooth test period and help address any challenges or technical glitches that arise. Before you kick off your pilot, make sure you know who your vendor point of contact is, and keep them updated on progress. Evaluate and DecideOnce the pilot test is complete, gather your team for a thorough debriefing. Evaluate the software's performance against your objectives, analyze the test data, and consider the feedback received. Did the software meet your expectations?Did it deliver the desired results? Do you feel confident in your data measurement? Use this evaluation to make an informed decision on whether to proceed with the technology roll out or explore other options. Congratulations!You've just unlocked the power of the pilot test to help you better navigate the tech evaluation journey. Be confident in your ability to assess a potential new tool’s impact on your portfolio performance, and go forth and conquer the multifamily tech landscape.Happy software testing!⭐ ⭐ ⭐ ⭐ ⭐Team Revyse

6 months ago

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Bobbi Steward

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How Maintenance Tech Can Augment the Resident Experience

Our industry has made great strides around leasing centralization, where many have realized that new technologies, like self guided tours and virtual touring, were not created to replace human interaction - but to augment the customer experience.In the SatisFacts 2019 Online Renter Study, the perception of quality customer service was ranked #2 in importance regarding the leasing decision, which let us know that the elimination of leasing jobs wasn’t on the horizon. Self-guided tours have allowed us to better customize a prospects experience, ultimately complimenting the onsite team's quality customer service. Fast forward to 2023, and the massive importance of customer service has not changed.Moving forward, the evolution of maintenance is on the horizon. With COVID accelerating the pace of change in the multifamily world and beyond, residents have had to deal with a number of changes. Many now work from home. The need for exceptional customer service still stands as important - if not more important. With the new expectation of instant resolution, a preference for DIY, and work-from-home hours, how can the onsite maintenance teams handle these new resident expectations? Better yet, how can they handle the needs from residents alongside an astounding increase in open maintenance positions and staffing challenges across the industry? We continue to hear about maintenance centralization; will the evolution of maintenance become equally as important today as leasing was 5 years ago?When we think about "centralizing" anything, it doesn't mean removing current people from their positions. Perhaps we can look at centralization as an opportunity to focus more on the quality of our current employees, enhancing our processes, and investing in our people. Currently in our industry, we continue to see the average response time to a service request to be a standard 24/48 hour, or even 72 hour time frame. Most residents' service requests are easy fixes - garbage disposal, microwave filter, the switch in the electrical box or even a blind slat replacement. In order to increase or even maintain our residents’ expectations, we must look to innovative solutions that will allow our residents to be heard, and service them in a way that they prefer, despite these staffing challenges.In a recent Revyse Community poll, 78% of respondents said they were planning to increase the speed of their maintenance technology adoption in 2024.We know that when a resident is deciding whether or not to renew their lease, "quality of maintenance service provided” scored a 4.61 out of 5, on the SatisFacts Biennial Online Survey. This is the second highest factor impacting their renewal decision. This tells us that, just like the importance of providing options when leasing (touring in person, virtual or self guided), residents want more options for maintenance service. DIY, FaceTime service calls, and optimizing current maintenance techs time on each service request must become part of the future in multifamily. According to a 2020 Survey from Kingsley, The requirement for social distance, as well as continued focus on worker health and safety, will remain yet for some time. To help in communication and improving work, virtual technology should be a more widely used method of performing maintenance diagnostics and troubleshooting.When a resident reaches out for maintenance assistance within their home, we must look for opportunities to increase resident satisfaction, reduce the response times, and provide them with flexible choices in how we can service their requests. Video tutorials, FAQ guides for DIY fixes, and dispatching remote technicians, all help to optimize the current maintenance team while giving the resident the flexibility they want.My opinion 1,418 days ago still stands true. We must look at the traditional role of maintenance and view new solutions as an evolution - not as an elimination - to keep up with the changing expectations and preferences of our residents.

7 months ago

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Jennifer Carter

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Reputation Management | Revyse Tech Buyer's Guide

If you're only viewing reputation management platforms as a way to keep an eye on your online reviews or to collect a few accolades, you're not seeing the full picture. Reputation management is a potent marketing tool that can accelerate your performance and positively impact your financial bottom line. Just like your website and that picture-perfect unit-level photography, reputation management should be a key cornerstone of your community’s leasing strategy.Handpicking the right reputation management partner and introducing new tech to your teams is no small feat; it's a decision with lasting effects. But make no mistake, the right platform can totally overhaul your programs and take resident satisfaction to soaring heights.In the multifamily industry, new software adoption is moving at warp speed, with best-in-class technologies accelerating the leasing process and creating new opportunities for portfolio growth. Modern reputation management solutions are like adding a boost to efficiency, tailor-made for operations of any size. However, venturing into the world of new vendors can feel like stepping into uncharted territory, even for seasoned industry experts.The good news is that the B2B software buying landscape has changed, putting multifamily software buyers in the driver's seat like never before. Self-service demos, genuine user reviews, and transparent vendor data are just a few of the tools that put you in control of the tech vendor selection journey.In this guide, we'll steer you through the crucial considerations when choosing a reputation management solution for your portfolio. From defining your requirements to sizing up features and evaluating vendors, we’ll help you make an informed decision that aligns with your portfolio goals, so that you can pave the way for your ideal tech stack.Where to Start : Define Your RequirementsDrafting a solid business case and outlining your needs in crystal-clear terms isn't just a fancy gesture—it's the secret to guaranteeing that your next technology evaluation is thorough and successful.Think of it like building a high-rise. You wouldn't just stack bricks haphazardly; you'd have a blueprint that outlines every detail. Similarly, when it comes to purchasing a new reputation management tool, nailing down your requirements isn't just step one, it's the cornerstone of a well-informed tech investment.💡 Deep Dive Into Requirements: For a deeper dive into the concept of technology requirements, what they are, and how to write them, take a look at this article from the team at Revyse. By identifying the specific requirements you have for your new reputation management software or service, and then writing them down, you can narrow down your search and focus on solutions that cater to your use case.Remember, not all requirements carry equal weight. Pinpoint the most critical ones and rank them based on their significance to your company and your project objectives. If there are some requirements that are non-negotiable, put those at the top. If there are others where you can be flexible, move them toward the bottom of your list.Now, let's walk through a few potential prerequisites for multifamily reputation management solutions. We'll explore how these requirements can act as your compass, leading you towards a well-informed decision when it comes to selecting the perfect technology partner. Example Requirements✅ - Our reputation management solution should help us manage reviews across Google, Facebook, and Apartments.com.Are you looking for a solution that helps you manage just one core platform, like Google Business Profiles, or do you need a tool that can aggregate your reputation scores across multiple industry-specific platforms to get a broader view of reputation? ✅ - Our goal is to be able to respond to all community reviews within 48 hours.Do you have specific goals or KPIs in mind when it comes to review responses? Are you willing to use canned or automated responses in order to be prompt, or are you willing to sacrifice speed for quality and leverage people-based services to take a human-based approach? ✅ - The reputation management solution should allow our corporate marketing team to solicit reviews across our entire portfolio, allowing our onsite teams to stay focused on community and resident needs.Do you need a tool that can help scale a small corporate marketing team, or are you looking for a solution that each Community Manager can access directly? Do you need automated review solicitation, or are you planning to ask for reviews by hand? Defining who and how tasks should be done will help you better evaluate your options.✅ - The reputation management platform should allow us to escalate negative reviews to our Regional Managers.Will onsite teams be handling all reviews, regardless of score, or will you need to escalate negative reviews to Regional Managers, ensuring that leadership is never out of the loop? ✅ - We need a review response solution that understands and adheres to legal requirements.How important is it that the reputation management technology or service allows for Fair Housing compliant review responses, and FTC guidelines on review solicitation, to ensure that your efforts don’t land you in legal hot water? Be sure to define the level of compliance required and any internal review processes that might need to be accounted for before you start your vendor evaluation process.Establishing the requirements for your reputation management software evaluation and writing them down ahead of time will help you stay focused during the research process.Researching Multifamily Reputation Management OptionsWith your requirements in mind, it's time to research the reputation management technologies available in the market and find a few potential tools that can address your company’s needs head on. Here are a few good places to start:Explore industry-specific product review sites and publications.Leverage search engines and vendor websites.Look for case studies and customer testimonials to leverage the experiences of other operators who have used the tools or technologies you are considering. Reach out to peers, colleagues, or industry experts for their insights and suggestions on the best solutions to address your specific problem. Online forums, communities, and professional associations can also be valuable sources of information.💡 Pro Tip: The multifamily industry is nuanced, so when you’re researching, look for reputation management software solutions that have specific industry experience and positive customer feedback from multifamily companies that share a similar size, investment strategy, submarket, or area of focus as you do.Keep a list of the reputation management solutions that catch your eye, as you'll dive deeper into evaluating these vendors and their product offerings in the next sections.Want a quick-and-easy way to understand your options? Check out the Reputation Management category page on revyse.com to discover multifamily reputation management products and read verified user reviews.Product DemosOnce you’ve developed a short-list of potential reputation management solutions, it's time to demo the platforms. These demos offer you a firsthand look at how each solution operates, allowing you to compare how each tool meets (or doesn’t meet) your requirements.Remember, these sales demos aren't just about appearances. Oftentimes, the vendor will walk you through real-life scenarios specific to the multifamily industry. Not only is it valuable to see the actual user interface (UI) and get a glimpse of how the solution works, you can also get an understanding of how the technology would be leveraged by your teams on a day-to-day basis.The good news is that more and more vendors are adopting modern sales tactics and offering transparent, self-service product demos, which allow buyers like yourself to tour their product on your own, at a time that is convenient for you, and without the need for a sales rep. Vendor discovery platforms like revyse.com also host self-service product demos and walkthroughs, so you can easily search by product name or category to find vendors that offer self-service demos ahead of time.💡 Pro Tip: Prioritize vendors that offer transparent pricing and hassle-free access to demos, letting you evaluate options without the sales pitch pressure. You’ll be able to take an objective approach, choosing what works best for your business needs, and won’t feel obligated to continue unproductive conversations out of kindness.If the vendor doesn't have a self-serve product demo available online or on their website, you can usually still contact them directly to schedule a demo with a sales representative. It may take more than one sales meeting to get access to a resource who can answer your deepest technical questions about product functionality and integrations (usually called a Sales Engineer or a Solutions Architect), so be patient and voice your intent. Honesty is the best policy here. Let your sales rep know early on that your goal is to gather technical info, and they can help you navigate the sales process much more quickly by bringing the right resources to the call.Evaluating Key FeaturesProduct demos are the perfect time to evaluate each reputation management solution's key features. But before you start the self-service demo or join the sales meeting, be sure to grab your list of requirements. As you walk through the product demo, compare the features and functionality of each solution against your requirements. And most importantly, always be transparent with the vendor about each of your requirements and make sure they understand your needs up front.💡 Pro Tip: During the evaluation process, create a checklist or a simple comparison table in Excel to assess each potential solution side-by-side, based on your requirements. When comparing products, look for solutions that not only address your immediate pain points, but also offer flexibility for future growth or changes in how your company operates. For example, if you know that you’ll be doubling your portfolio in the next 12 months, look for a product that can scale with you as you grow.Now, let’s get into the specifics. When you’re researching and demoing reputation management software, some of the critical features and functionalities to look out for are: 👉 Focused on Google-First: The most competitive reputation management strategies will be focused on improving your property’s Google Business Profile (GBP) review volume and ratings, with help from automated technology and review response services, since reviews have an outsized influence on local search ranking.Questions to ask: Does your platform prioritize Google reviews? Do you use the GBP API? When Google releases a new feature on GBP, how often do you build those new features into your platform’s offerings?✌️ Automated Review Solicitation: Leveraging automation to request reviews from happy residents across different stages of the resident lifecycle, such as tour, move-in, and lease renewal, can dramatically increase your overall ratings and reduce negative reviews.Questions to ask: Does your platform include review solicitation? Does it use automation triggers from a CRM or PMS integration to send review solicitation requests, or are they sent by hand? Tell me how your integration works. Can I decide which triggers are leveraged? Do you cap the number of solicitation requests that go out at one time? 💡 Pro Tip: When looking at product features that rely on integrations, it’s important to really dig in and understand how the integrations function. When it comes to reputation management integrations, ask “Who controls the automations? Is there any onsite team involvement needed to trigger these workflows?”🤟 SMS Capabilities: The ability to send review requests by SMS text messaging vs just by email can meaningfully increase your response rates and review scores.Questions to ask: Does your review solicitation have SMS capabilities, or do you only solicit reviews through email? What are your average SMS response rates for a PMC of a similar size or in a similar market? Do you require explicit opt-in for SMS text messaging? Will the phone numbers be a standard 10-digit number or a short code?✌️✌️ SEO-Optimized Review Responses: Ensuring that your review responses are optimized for local SEO can turn your reputation management tool into a performance marketing machine. Questions to ask: How does your review response product work? Do you include SEO optimized keywords in each review response? How does your tool/team determine which keywords to include? How are negative reviews handled? Are there strategic differences between responses to negative and positive reviews?🖐️ Review Sentiment Analysis: Understanding overall reputation scores is important, but being able to measure prospect and resident sentiment by topic or lifecycle stage is a complete game changer. Questions to ask: Does your platform allow me to measure review scores received by specific team members? Will it allow me to better understand which employees are delivering 5-star service? Can I see the overall sentiment of just those residents who have renewed their lease, or those who have just moved in?  Double-Click on FTC ComplianceAs a multifamily operator, you have a ton on your plate - leaving limited time to focus on becoming the authority on review solicitation compliance and legal best practices.  But don’t worry, we’ve got you covered! When evaluating Reputation Management products and services, it's important to understand how the vendor approaches compliance with the Federal Trade Commission’s rules for online reviews.When a reputation management tool funnels prospects or residents with negative experiences to an internal feedback mechanism and only directs positive reviewers to leave a public review, that’s breaking the rules. This practice is commonly known as “review gating.” And there are real monetary consequences for these prohibited practices.In a recent press release, the FTC explained, “[We] charged the rental listing platform Roomster and its owners with duping consumers seeking affordable housing by paying for fake reviews. In January 2022, the FTC required online fashion retailer Fashion Nova to pay $4.2 million for suppressing negative customer reviews from being posted to its website.” In addition to fines, review sites are directed by the FTC to enforce fair practices. If an Operator is suspected of unfair review practices, Google and other review sites will simply delete your reviews without notifying you.Matt Murray, CEO at multifamily reputation management tech provider Widewail, touts the benefits (and boost!) to ratings when Operators fairly and equally solicit reviews from prospects and residents across key points in the customer journey.“To eliminate long-term risk you need to treat positive and negative content equally. Further, suppressing your residents’ feedback is a poor experience and is an unnecessary risk. We find that ratings, on average, jump up 0.3-stars when asking every resident and making the process easy.”Questions to ask: Do you follow the FTC’s rules for online reviews? Does your platform solicit reviews from all prospects and residents equally? How does your platform handle negative reviews? Are negative reviews ever suppressed or hidden, putting us out of compliance with the FTC?Assessing Vendor ReputationIn addition to evaluating reputation management software features, it's crucial to assess the reputation and credibility of the vendors behind these solutions. When exploring options, consider vendors with a solid track record in serving the multifamily industry. Look for testimonials or case studies highlighting their success stories in multifamily apartment management, and read user reviews to understand how their products perform in the real world.💡 Pro Tip: Vendor reviews are your secret weapon in the software shopping battle, saving you from unpleasant surprises down the road. Quickly understand how a new solution would fit into your existing tech stack by reading authentic reviews from industry users who have gone through implementation themselves. Be sure to check out software review sites like TrustRadius and G2 when shopping for generic SaaS solutions, or leverage Revyse for access to industry-specific user reviews for multifamily technologies and services.By choosing a reputable vendor, you can have confidence in the long-term reliability and support of the reputation management software solution you choose.Pilots and Trial PeriodsWhen weighing up your decision, consider taking advantage of any trial periods or pilot programs offered by your shortlist of reputation management software vendors. Trial periods are typically free and will give you hands-on experience with the software and a deeper understanding of its functionality, user-friendliness, and compatibility with your existing systems. Pilot programs can also help you measure the quantifiable impact of the product on property performance, without the commitment of a full portfolio implementation project. Pilot programs can be free or paid, and typically involve testing the live product for 90+ days on 3-5 active properties in your portfolio. The purpose of a pilot is to gather data on performance, so be sure you’ve outlined the critical KPIs before launching a new pilot program. During pilots or trial periods, be sure to involve relevant team members and end-users who will be working with the reputation management software on a daily basis. Gather their feedback and assess how well the solution aligns with their specific workflows, and make note of any new requirements that might surface.Considering Implementation and SupportUnderstanding the product implementation and onboarding processes for your new reputation management platform ahead of time can save you endless heartache and hours of tedious manual work, protecting your team from the dreaded “onboarding spreadsheet”. Be sure to ask the vendor what to expect during implementation and onboarding, such as:Implementation timelinesOnboarding processes Data integrationsProperty information transferTraining resourcesOngoing customer support Ticketing systems or portalsOn-demand knowledge basesEach of these areas can have a significant impact on the successful implementation of a new technology system, and can influence how well a new reputation tool is received by your internal teams. Making the Final DecisionSmart decision-makers know that getting more apartment reviews from prospects and residents will raise your property’s star rating, make you more visible to prospective residents on search engines, and boost your property performance.So, it's decision time! Put on your analyst hat and weigh each proposal and demo against your prioritized requirements. Think about factors like cost, the time it'll take to get the ball rolling, ongoing support, and any customizations or integration requirements you might have.And finally, take a deep breath and make your choice. Trust your research, your peers, and your instincts to select the perfect multifamily reputation management platform.Happy software shopping!⭐ ⭐ ⭐ ⭐ ⭐Team Revyse

7 months ago

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Team Revyse

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Breaking Down Data Silos in Multifamily

I entered the multifamily industry for the first time when I joined Realync in 2016. I had just spent more than three years working for a high-growth tech startup in a totally different industry. So I spent much of my first few years seeking to understand the multifamily technology landscape.The more I learned about the industry as a whole, the more I grew to absolutely love it. The people are amazing, our clients are absolute superheroes, and there is so much opportunity for impact. But the more that I learned about the technology, the more I found myself discouraged by how far behind it was.At my previous company, more than 95% of our clients used our platform fully integrated with their tech stack. I distinctly remember coming into the office one day, and a lead software engineer had spun up a new integration. Without telling anyone. In one night.Realync’s clients had hardly heard of the concept of open API’s or “fully integrated” tech stacks. In 2016, we had hundreds of properties using our platform, and we had exactly zero integrations with any other technology. And our clients didn’t seem to care. I even had a client tell me that they didn’t want me to build an integration with their property management system, simply because they feared that the amount of effort required would dominate our product roadmap and would stifle our ability to innovate.I’m happy to say that today, more than 75% of the properties using Realync are integrated with at least one other platform in their tech stack. But in full transparency, not only is 75% a far cry from 95%, but to say that our integrations qualify as “fully integrated” would be misleading. The integration wish list for this industry’s most innovative vendor partners is constantly growing.So what’s holding us back from getting our clients to a “fully integrated” state?The Hurdles👉 Costly APIsSpend enough time with your vendor friends, and this is by far the #1 complaint you will hear. And it has only gotten worse in recent years.If you’re unfamiliar with what an API is, it’s arguably the most common method of integrating one software platform with another. Imagine one software sending an email to another software, with a request like, “Can you send me the list of available units that you have for this specific building?” Or maybe, “Can you add this new prospect to the list of prospects for this property?” Except this communication doesn’t happen via email, it happens in lines of code, in a very controlled environment.Today, it is not uncommon to see a five-figure price tag for obtaining permission to access the API of some multifamily tech companies. That may not seem like much, but for many companies, that is unjustifiable, and it discourages innovation. And it’s getting worse - some vendors who previously charged nothing for access to their API recently started charging fees, and some who have charged API fees for some time, are now charging even more.Now, I work for a software company —  I understand that there are costs associated with maintaining an API, offering support to partners utilizing the API, etc. But there are certainly better ways to go about covering these costs than the examples we see in the multifamily industry. To put things into perspective, here are two non-industry examples of companies who approach covering these costs very differently:SalesforceSalesforce makes their API documentation available publicly, and even provides some self-serve resources for developers who want to integrate with their platform – they are encouraging innovation, not stifling it. They don’t charge companies to integrate, unless they opt to join Salesforce’s partner program. But if you join their partner program, which does generate revenue for Salesforce, they will treat you like a client and provide resources to help you grow your business within their ecosystem. After all, if Salesforce’s partners win, they will, too.RedditReddit made a splash earlier this year when they introduced API pricing for the first time. The costs come out to roughly $0.00024 per API request. There are multifamily companies charging $1 per API request. That is more than 416,000% higher than Reddit’s. Yes, you read that right. Shortly after Reddit announced this change, angry Reddit users managed to crash the site in protest. Imagine if they took a job with a multifamily tech startup and saw these prices?👉 Incomplete and inefficient APIsTo be fair, I believe that part of the reason for this industry’s high cost of integration results from the challenges of updating old technology. Think of it like cars - there is some incredible new technology out there, but to retrofit that technology into an older vehicle, which wasn’t designed to work with that technology, is costly and could require cutting some corners.Many multifamily tech platforms were built without prioritizing integration with other platforms. So even if one of these companies makes an API available (for a small fortune), it often comes with limitations, preventing the API consumer from being able to “fully” integrate with the API provider.And as the industry’s needs rapidly evolve, as is the case for the multifamily industry over the last half decade, it is nearly impossible for companies with outdated technology to keep pace with updating their own platforms accordingly, let alone keep pace with how their platform interacts within the broader technology landscape.👉 Lack of knowledge and resourcesSoftware buyers make decisions based on a number of factors, including their own experiences and the information made available to them. The unfortunate reality is that the concept of a fully-integrated tech stack is not something that the average multifamily buyer has ever experienced. So if they are not made aware that a better solution is possible, or if they believe that the ideal solution is not possible in this industry, they all too often settle for buying an inferior, incomplete, or antiquated product, or even doing without the product entirely.This is a big reason why an industry like multifamily can experience so much rapid change, and yet fall even further behind technologically. If buyers’ decisions do not reflect a demand for more modern solutions, then the less-modern platforms retain their market share and have no incentive to innovate.This is why we at Realync are so excited about what the team at Revyse is building. This is a platform built by wicked-smart people with years of experience in evaluating, buying, and selling multifamily technology, and they are dead-set on helping improve the buying experience for all parties involved.For the OperatorsIf we are to close the technology gaps in this industry, clearly the majority of the responsibility rests on the vendor partners. But operators shouldn’t sit idly by, hoping that vendor partners will eventually sort this out. If you believe that this is important to you and your business, here are some practical ways that you can participate in the effort to moving things forward:1. Let your vendors knowThe reality is, the client’s voice is (or at least should be) the most important voice in the room when discussing an integration. If one party is hesitant to have that conversation, but their client is the one requesting it, they at least owe their client a clear response. That’s your most important role here: to seek clarity from both vendor partners. Push for alignment between all parties regarding feasibility, prioritization, and timing.Many vendor partners, especially the more established ones, have a formal process for submitting feature requests. If you desire an integration, take advantage of this process whenever possible. And, if there is a way for your colleagues to vote for your feature request, encourage them to consider doing so.2. Ask the right questions“I need you to integrate with [Platform B]. We don’t use anything that doesn’t integrate with them.”I absolutely love this. A buyer who refuses to work with vendor partners who won’t integrate their platform with their tech stack? Let’s be friends. No, seriously – please find me on LinkedIn or in the Revyse Member Community.But…if you are going to claim that an integration is a requirement in your buying decision, make sure that you can articulate what you need from an integration in order to move forward. Which part(s) of each platform need to work together? And how advanced does the integration need to be?To help articulate what you need, here are some terms I would recommend, with examples for how we use them here at Realync:CompatibleDefinition: There are manual ways to make Realync work with Platform B.Realync Example: Realync video links can be copied and pasted into Platform B.IntegratedDefinition: There is at least one fully-automated process between Realync and Platform B.Realync Example: Realync can automatically send videos to Platform B, without copying/pasting links or downloading/uploading files.Bi-directionally IntegratedDefinition: There is at least one automated process where data can flow from Realync into Platform B, AND vice versa.Realync Example: Realync can pull prospect info from Platform B into Realync, AND Realync can automatically push prospect activities back into Platform B.Fully-integratedDefinition: Realync and Platform B have automated processes between all critical workflows.Realync Example: Realync can pull prospect info from Platform B; Realync can automatically log prospect activities into Platform B; Realync can automatically send videos to Platform B; Platform B can automatically send scheduled live video tours into Realync.One of the keys to obtaining clarity here is to ask the right questions. If you simply ask, “Do you have a bi-directional integration with [Platform B]”, the vendor partner might answer “yes”. But what if your definition of a “bi-directional integration with [Platform B]” is materially different from theirs?Instead, ask open-ended questions like, “How do you integrate with [Platform B]?” Better yet, ask highly-specific questions like, “Does your integration with [Platform B] allow my users to automatically [accomplish this]?”You might discover that your ideal integration doesn’t exist. But it’s better to get that answer as soon as possible, so you can either confidently move forward, or reallocate your time and attention.3. Consider vendors with open API’sBuyers should seek to understand a vendor partner’s current integration ecosystem, as well as their “philosophy”of integration. Are they willing to build new integrations with your other vendor partners, or are they only focusing on building their own platform? Do they charge other vendor partners a reasonable cost for using their API, or are they charging API fees that are prohibitive, even crippling?When evaluating a current or potential vendor partner, don’t simply seek their input on this. Verify the industry’s sentiment toward that vendor partner by looking up reviews, talking to peers, and even consider talking with other vendor partners.Integration is not the only factor in a buying decision – you may still find yourself needing to work with a vendor partner who doesn’t have the best reputation here. But my hope is that, for the benefit of all parties involved, this is becoming an increasingly-important factor in buying decisions.If it’s not – we’ll never be able to change the narrative of multifamily being “behind the times.”For the VendorsWe are firm believers that the only way we arrive at our company goals is by doing right by our clients, bringing as much value to them as possible, and collaborating with their other trusted vendor partners to be part of their “dream team.” Without our clients, we are not in business. That is true regardless of a company’s size or tenure.There is a palpable difference between companies that operate primarily from a place of gratitude, as opposed to those who operate primarily from a place of pride or entitlement. There is a lot I could say to the vendor partners in this industry who, to many of us, seem to fall into the latter category. But I’ll just leave it at this:Marketing defines your brand. But the way you treat your clients and partners defines your reputation. Louder, for the people in the back: The way you treat your clients and partners defines your reputation.So what does it look like for a vendor partner to contribute positively toward an ecosystem of innovation? Spoiler alert: it’s not as simple as offering a free and open API. Though that wouldn’t hurt ;)1. Offer a partner-friendly APIIn 2023, it’s impossible to help solve your clients’ problems if you operate in a silo. But most industry API’s leave too much value on the table. For companies who don’t have the resources yet, that’s understandable; start where you can. But for companies who do have the resources, here is what it looks like to invest in an API that encourages innovation:If you’re going to charge for an API, do some math to understand the financial impact it will have on integrated partners. Introducing unreasonably-high API costs will likely come across as an attempt to stifle innovation, a money-grab, or both (see: the article above on Reddit’s API fees).Better yet, consider a no-cost option for smaller companies that allows them to grow into a paid plan once they’ve matured. This demonstrates that you do want to encourage innovation.Offer other vendor partners resources and documentation necessary for them to build and maintain an integration with your platform. Things like:test environmentsa point of contacta formal process for partners to receive supportRegularly invite both clients and partners to evaluate whether your API is modern enough to keep up with industry trends, and to understand where there are gaps that can be filled.Develop a partner program, where you proactively introduce integrated platforms to your clients, helping those partners grow their businesses within your ecosystem.2. Just be real with your prospects, clients, and partnersDon’t oversell how advanced your integrations are, and certainly don’t promise that your platform integrates with another vendor partner’s, unless you already do or at least plan to make it happen. Being real is not just the right thing to do, but it also builds trust.Remember: the way you treat your clients and partners defines your reputation.3.Network with other vendor partnersBeing a vendor partner in this industry can at once be incredibly fun and awfully frustrating. Sometimes you just need a shoulder to cry on from someone who gets it.But seriously - establishing relationships with other vendor partners in this industry has been critical to what we are building here at Realync. Here are some peer-to-peer conversations that have had direct impact on how we’re doing things here at Realync:Making integrations happenIt can take time to convince another vendor partner to sit down and talk about an integration. It can take less time if you regularly engage with them and seek to learn about what they’re building.Collaboration for field marketingSpeaking of crying – we’ve all cried ourselves to sleep at least once looking at the final costs from some of these industry conferences…right? That’s why we love to get creative with other vendor partners to lower costs and increase ROI on field marketing efforts.Best practices around specific integrationsWhen looking at integrating with a platform, there can be a million ways to go about it. Talking to partners who have already crossed that bridge has saved us countless hours of research.Warm introductionsWord-of-mouth marketing is a beautiful thing. When one of our partners makes an introduction to a client who wants to learn more about Realync, those conversations are so much easier and more enjoyable for all parties involved.4. Invest in a Partnerships functionYou could just sit back and expect your clients to bring ideas (or complaints) to you. But dedicating resources to a Partnerships function will ensure that you can better understand your client’s tech stack, how they are using your platform within that tech stack, and how you can help them get the most value out of their investments.When clients see that you aren’t just pushing your software, but you are making an effort to become a valuable advisor and that you are collaborating with their other vendor partners, good things happen.For instance, here at Realync, clients who utilize at least one of our integrations see an increase in usage of about 13%, and are about 20% more likely to renew. That’s definitely not nothing.We can do thisI don’t know about you, but I’m tired of hearing things like “here’s what multifamily can learn from this other industry”. Yes, we should always look to challenge the status quo. But those statements are nearly always rooted in the belief that we are behind that other industry, and probably always will be.But we believe that this industry is filled with far too many wicked-smart people to settle for that fate.If you agree, then let’s #freetheMFdata.

7 months ago

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Jordan Easley

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Websites | Revyse Tech Buyer's Guide

As a multifamily decision-maker, selecting the right website technology vendor and implementing a new platform is a critical task with long-lasting consequences. The right choices can truly revolutionize your marketing and improve the prospect experience.The multifamily industry is evolving at a rapid pace, with best-in-class website technologies and CMS platforms accelerating the leasing process and creating new opportunities for portfolio growth. These solutions can significantly enhance efficiency and boost profitability for any size operator, however, exploring a new website vendor can be challenging - even for the most experienced multifamily professionals. The good news is that the B2B software buying landscape has changed, putting multifamily software buyers in the driver's seat like never before. Self-service demos, access to product reviews, and transparent vendor and supplier data are just a few of the tools that empower operators to navigate the website vendor selection process with confidence.In this guide, we'll walk you through the key considerations when selecting a new website platform or CMS for the multifamily industry. From understanding your requirements to evaluating features and assessing vendors, this guide aims to help you make an informed decision that aligns with your portfolio goals, so that you can build an ideal marketing tech stack. Where to Start : Define Your RequirementsA well-thought-out business case and clearly written requirements can make all the difference in ensuring that your next website vendor evaluation is thorough - and successful. Understanding and defining your requirements for a new solution ahead of time is the foundation of every good decision when it comes to buying new tech.💡 Deep Dive Into Requirements: For a deeper dive into the concept of requirements, what they are, and how to write them, take a look at this article, Multifamily Software Buying 101: Nailing Requirements.By identifying the specific requirements you have for your new website platform, and then writing them down, you can narrow down your search and focus on solutions that cater to your use case.Remember, not all requirements carry equal weight. Pinpoint the most critical ones and rank them based on their significance to your company and your objectives. If there are some requirements that are non-negotiable, put those at the top. If there are others where you can be flexible, move them toward the bottom of your list.Now, let’s take a look at a few real-world examples of potential requirements for multifamily websites, and how they could help you make a more informed decision when selecting a new marketing vendor.Example Requirements:✅ - The vendor should be able to honor our request to un-publish a community website within 72 hours of notice to dispo.Do you acquire and dispose of properties frequently? You should understand how quickly a vendor’s customer support team will respond to your requests to create new sites or remove old ones. You may determine that your team needs to have self-service access to edit the CMS themselves. If you have a long-hold strategy, this requirement may not be relevant to your business model.✅ - The platform should support the use of our owned Google Analytics account.How do you track your website performance KPIs today? If you’re using a tool like Google Analytics, you’ll want to ask if you can continue using the same GA account, and how the vendor can support your tracking and analytics needs within that same analytics framework.✅ - Our new websites need to be live by November 15th.Do you have a specific deadline that you need to meet? Website implementation timelines can vary wildly. Start to finish, a full-portfolio build can take anywhere from 90 days to 9 months with a full-service templated website vendor, while branding agencies and custom development shops may quote somewhere between 5-12 months for a custom build. Conversely, a single website for a new development or recent acquisition should be much quicker, about 2-3 months on average.✅ - We want to work with a vendor who will lead the brand direction and creative on our behalf.Before kicking off your search, it’s important to understand how much control your team wants to have over the look and feel of your new website, or if you will be leaning on an expert to develop the brand. Directing the creative on a website project is a huge amount of work, so before signing up to lead the brand direction for your next project, be sure that you have the resources available (both headcount and time) for the entire length of the project. If you know resources are tight, look for a multifamily vendor who can lead the brand design as well as the technical build.✅ - We want to own our own website.Is it important that your company ‘owns’ the website and has complete ownership or control of that digital asset? When evaluating vendors, be sure to ask whether your investment in the design will be limited to their system, or if the website is capable of continuing to operate in the event that your relationship with the vendor were to end. This may be important to understand in the event of a property disposition.Establishing the requirements for your vendor evaluation and writing them down ahead of time will help you stay focused during the research process.Researching Multifamily Website VendorsWith your requirements in mind, it's time to research the options available in the market and find a few potential website platforms that can address your company’s needs head on. The multifamily industry is nuanced, so when you’re researching, look for vendors that have specific industry experience and positive customer feedback from multifamily companies that share a similar size, investment strategy, submarket, or area of focus as you do.Here are a few good places to start:Explore industry-specific product review sites and publications.Leverage search engines and visit vendor websites.Look for case studies and customer testimonials to leverage the experiences of other operators who have used the website platforms you are considering.Reach out to peers, colleagues, or industry experts for their insights and suggestions on the best solutions to address your needs.Online forums, communities, and professional associations can also be valuable sources of information about website vendors.Keep a record of the website vendors and products that catch your attention, as you'll dive deeper into evaluating them in the next sections.Product DemosOnce you’ve developed a short-list of potential website vendors and platforms, it's time for product demos. A product demo gives you first-hand experience of how the website platform or CMS works and helps you determine if it meets your needs. Not only is it valuable to see the actual user interface (UI) and get a glimpse of how the website technology works, product demos often walk you through specific industry use cases, so you can see how different build options could be leveraged in your marketing strategy. More and more vendors are embracing modern sales practices and offering transparent, self-service product demos, which allow buyers like yourself to tour their website or CMS platforms on your own, at a time that is convenient for you, and without the need for a sales rep. Vendor discovery platforms like revyse.com also host self-service product demos and walkthroughs, so you can easily search by product name or category to find website vendors that offer self-service demos ahead of time.💡 Hassle-Free Demos: Prioritize vendors that offer transparent pricing and hassle-free access to demos or examples of their work in the real-world, letting you evaluate options without the sales pitch pressure. You’ll be able to take an objective approach, choosing what works best for your business needs, and won’t feel obligated to continue unproductive conversations out of kindness.If the vendor doesn't have a self-serve product demo available online, you can usually still contact them directly to schedule a demo with a sales rep.It may take more than one sales call to get access to a resource who can answer your technical questions about functionality and integrations (usually called a Sales Engineer or a Solutions Architect), but being upfront with the sales rep about your intent to gather technical info can help you navigate the sales process more quickly.Evaluating Key FeaturesDemos are the ideal time to evaluate each potential website platform’s key features. Before you start the self-service demo or join the sales meeting, be sure to grab your list of requirements for your new website. As you walk through the platform, compare the features and functionality against your requirements, and take notes. And most importantly, be transparent with the vendor about each of your requirements and make sure they understand your needs up front.💡 Create a Checklist: During the evaluation process, create a checklist or a simple comparison table in Excel to assess each potential website platform side-by-side, based on your requirements. During the demo, look for solutions that not only address your immediate pain points, but also offer flexibility for future growth or changes in how your company operates. For example, if you acquire another property in the next month or two, would that vendor also be a good fit for another website build project?When you’re researching and demoing solutions with today’s modern multifamily website platforms and agencies, some capabilities to keep an eye out for are: ☝️ Flexible Domain Strategies - If you operate your website using a single-domain strategy, where your community websites are nested under your corporate domain to provide an ILS-like experience to prospective renters, you’ll want to ensure that you can maintain that competitive advantage when choosing a new vendor. If you’re managing each community’s website on its own independent standalone domain, you’ll want to ask about domain management and user management, to keep track of log-ins to each website. Questions to ask:Does your platform support single domain or multi domain strategies? Do you require each community to have a standalone domain and website? Would my existing prospect or resident portal be compatible with that set-up?  ✌️ Templates vs Custom Builds: If having a differentiated look and feel to your website is important, you’ll want to ask about custom designs, or at the very least, customization of an existing template to produce a more distinctive look. Customizations are usually more time intensive (for a better end result), so be sure to factor that into your overall timeline.Questions to ask: Is each website custom built for the property or asset, or do you provide pre-designed templates for us to choose from? If you use templates, can they be customized to our specific needs? How can we make sure that our website won’t look dated in 2 years? Are redesigns included?Chris Arnold, Co-Founder of digital design firm Authentic Form & Function, suggests considering custom brand-forward website designs for those communities or assets that need the extra mile, like new developments and properties in lease-up. "To make a deeper impact and boost leasing velocity, consider a brand-forward website experience that skips the template look."🤟 Pricing and Availability Data: If displaying accurate unit pricing & availability directly from your PMS or CRM system is important to you, be sure to ask about how the website platform supports this data early on in the discovery process. Accurate unit merchandising is a critical component of delivering a great prospect experience on your new website. Questions to ask: Tell me about your integrations with our PMS/CRM provider. How do you pull pricing and availability data? Will the floor plans show pricing as ‘starting at’ values or as ranges? Can you include our required legal disclaimers around quoted pricing?✌️✌️ Supported Tech Stack: Do you use additional technologies to augment your prospect experience, such as chatbots, interactive maps, video touring platforms, or dynamic number insertion (DNI)? If you plan to continue using these tools, then you’ll want to be sure that your new website vendor can support your existing tech stack. In some instances, a new vendor may have a different solution, or better yet, native functionality that could replace the need for a separate product.  Questions to ask: Can you tell me more about your view on industry partnerships? How does your platform handle third-party integrations, such as CRM systems or virtual touring and interactive maps? Does your platform support the use of a broad range of best-in-class point solutions, or would you require us to use your specific product set? Grady Newman, Founder of multifamily marketing platform Resi, recommends digging deep into the vendor’s product roadmap as a critical evaluation step during your vendor research process. "Ask about direction of the company and their product roadmap. It should be well thought out and align with the vision you have for your company and the industry as a whole."Double-Click on Technical FunctionalityAs a multifamily marketing leader, you have a ton on your plate - leaving limited time to focus on becoming a technical authority in website performance. But don’t worry, we’ve got you covered! 👉 Here is a list of technical questions to get you started during your vendor evaluation:How does your platform address responsiveness and ensure usability on mobile devices?Can you explain your approach to image compression and caching and how it impacts page load speeds?Is standard SEO schema integrated into each website by default?Do your templates comply with a specific WCAG accessibility level? Is this achieved through native functionality or an add-on widget?What measures do you have in place to ensure website security and protect against potential vulnerabilities?How does your platform handle website performance optimization, such as code minification and browser caching?Can you provide details about the content management system (CMS) used and its capabilities for managing multifamily websites?Are your websites designed to be scalable and handle high volumes of traffic without performance degradation?What analytics and reporting features are available to track website performance and user behavior?Understanding the Impact of IntegrationsOne area of the technology selection process that is often overlooked is integrations. Ensuring that the multifamily website platform you're considering can easily integrate with your critical software systems and operational processes is crucial to avoid disruptions, data silos, and to maximize the benefits of the new solution. The most common integrations that multifamily professionals look for are integrations with core property management tools, such as accounting software, property management systems, and CRMs.It’s important to remember that not all integrations are created equal. The level at which a  product may be integrated with one of your company’s core systems can vary from vendor to vendor. When it comes to integrating a website with your property management system or CRM, it's important to understand the difference between common integration types.🪝 WebhookA webhook is a way for one system to provide notifications or data to another system. It is essentially a callback mechanism.When an event or trigger occurs in one system, it notifies the other of the event.Webhooks are typically used for one-way communication, where the system that receives the webhook data may perform specific actions but does not usually send data back to the original system.📲 One-Way IntegrationIn a one-way integration, data flows in a single direction, meaning that information from one system can be pushed to the other.However, any updates or changes made within the ‘receiving’ system won’t be reflected in the ‘sending’ system.One-way integrations are often used when the website serves as a marketing tool to showcase property details and generate leads, while a separate system handles leasing.👀 Bi-Directional IntegrationsA bi-directional integration refers to a system-to-system connection where data is synchronized and shared in both directions.Typically, updates such as availability changes or new lease signings, can be automatically reflected on the website, and similarly, inquiries, leads, and application submissions from the website can be seamlessly transferred to the receiving system for further processing and management.Bi-directional integrations provide a more comprehensive and real-time view of property information, ensuring consistency between systems.In addition, it’s important to note that different data sets within the same system may be integrated using different methods or mechanisms, and just because one data set is integrated a certain way, it doesn’t mean all of the data will follow that pattern. For one provider, pricing and availability may be shared using a one-way integration, while lead submissions may use a webhook. Integrations can be complex, so spend some time understanding how a potential vendor views the multifamily industry’s vendor ecosystem and be sure to choose a partner who shares the same philosophy as you do regarding data ownership and system compatibility.Assessing Vendor ReputationIn addition to evaluating a website platform’s features, it's crucial to assess the reputation and credibility of the vendors behind the solutions. Consider vendors with a solid track record in serving the multifamily industry. Look for testimonials or case studies highlighting their success stories in multifamily apartment websites, and read user reviews to understand how their websites perform in the real world.💡 Leveraging Peer Reviews: Vendor reviews are your secret weapon in the software shopping battle, saving you from unpleasant surprises down the road. Revyse lets you quickly understand how a new solution would fit into your existing tech stack by reading authentic reviews from industry users who have gone through implementation themselves. Check out software review sites like TrustRadius and G2 when shopping for generic solutions like Wordpress or Drupal, or leverage the Revyse community for access to industry-specific user reviews for multifamily website vendors and design agencies. By choosing a reputable vendor, you can have confidence in the long-term reliability and support of your new website.Pilots and Trial PeriodsConsider taking advantage of any trial periods or pilot programs offered by vendors when shopping for a new platform. Trial periods are typically free, and will give you hands-on experience with the platform and a deeper understanding of its functionality and user-friendliness.Pilot programs will help you measure the quantifiable impact of the platform on property performance, without the commitment of a full portfolio implementation project. Pilot programs can be free or paid, and typically involve testing the live product for 90+ days on 3-5 active properties in your portfolio. The purpose of a pilot is to gather data on performance. During pilots or trial periods, be sure to involve relevant team members and end-users who will be working with your websites on a daily basis. Gather their feedback and assess how well the platform aligns with their specific workflows, and make note of any new requirements that might surface.Keep in mind that vendors offering fully-custom website builds or unique design + branding packages won’t be able to offer free trials, but that shouldn’t deter you from exploring those solutions that are customized to your company’s specific needs. Custom builds can be a great way to level up your resident experience.Considering Implementation and SupportUnderstanding product implementation and onboarding processes ahead of time can save you endless heartache and hours of tedious manual work, protecting your team from the dreaded “onboarding spreadsheet.” Be sure to ask the vendor what to expect during implementation and onboarding, such as:Implementation timelines Onboarding processes Building any custom integrationsProperty information transferTraining resourcesOngoing customer support Ticketing systems or portalsOn-demand knowledge basesEach of these areas can have a significant impact on the successful implementation of a new website, and can influence how well a new vendor partner is received by both corporate and onsite teams.💡 Ongoing Support Costs: Another critical aspect of choosing a website provider is understanding the cost of ongoing support, including changes, edits, or updates to your website. This is often overlooked when comparing pricing, and can have a significant impact on the overall investment required to maintain your new site. Making the Final DecisionNow, it's decision time. Put on your analyst hat and weigh each proposal and demo against your prioritized requirements. Think about factors like cost, the time it'll take to get the ball rolling, ongoing support, and any design customizations or integration requirements you might have for your new website.And finally, take a deep breath and make your choice. Trust your research, your peers, and your instincts to select the perfect multifamily website provider for your next project.Happy software shopping!⭐ ⭐ ⭐ ⭐ ⭐Team Revyse

8 months ago

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Team Revyse

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How Vendors Can Reduce Friction in the Multifamily Tech Buying Experience

👉 Multifamily sales + marketing leaders - do you know the #1 thing you can do to make it easier for operators to buy your products?I sat down with my friend Chris Arnold at Authentic to talk about how Revyse is connecting buyers + sellers, making it easier for the multifamily industry to buy software + services.In the video below, Chris and I dug into recent survey data uncovering the top 3 things owners + operators WISH their technology vendors were doing more of.074-8 (1).mp4#multifamily #proptech #multifamilymarketing #propertymanagement #apartmentmarketing

8 months ago

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Team Revyse

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Mastering the Art of the Technology Business Case

The multifamily industry is evolving at a rapid pace, with best-in-class technologies like self-guided tours and virtual leasing AI accelerating the leasing process and creating new opportunities for growth. These solutions can significantly enhance efficiency and boost profitability for any size operator, however, securing commitment from company leadership to allocate time, resources, and budget to exploring a new vendor can be challenging - even for the most experienced multifamily professionals.In this context, let's take a deep-dive into how to craft a compelling business case for new technology, getting you the buy-in you need to modernize your multifamily tech stack.1. Documenting the ProblemThe first step in building a compelling business case is to identify the pain points that new technologies will address. In the multifamily industry, some of the common challenges faced by operators today could include:Inefficient lead tracking, limiting visibility into which marketing sources are performingMissed prospect phone calls or a lack of follow-up, leading to lost opportunitiesManual processes that create bottlenecks and increase the likelihood of human errorDifficulty staying compliant with ever-changing regulationsOnce the problem and pain points have been clearly defined, it's time to document the specific requirements that the software or technology must fulfill to be a viable solution to the problem. Requirements are the specific features or functions that a product, system, or solution needs to have in order to be useful. Carefully considered and well articulated requirements are the absolute cornerstone for every successful business case. In fact, they are also the cornerstone for every successful technology implementation project, too. For a deep dive into the concept of requirements, what they are, and how to write them, take a look at this article. Establishing the requirements for your business case ahead of time will help you stay focused during the research process.2. Shopping for SolutionsOnce the problem is clearly defined and your requirements have been written down, the next step is to research potential tools that can address these challenges head on. Search for multifamily technology solutions on search engines, vendor review platforms, software comparison sites, and industry-specific websites. Look for product reviews, case studies, and customer testimonials to leverage the experiences of other operators who have used the tools or technologies you are considering. Reach out to peers, colleagues, or industry experts for their insights and suggestions on the best solutions to address your specific problem. Online forums and professional associations can also be valuable sources of information.During your research phase, compare the features and functionality of each tool or technology against your requirements. Look for solutions that not only address your immediate pain points, but also offer flexibility for future growth or changes in how your company operates. Ensure that the software or technology you're considering can easily integrate with your existing software systems and operational processes, as seamless integrations are crucial to avoid disruptions, data silos, and to maximize the benefits of the new solution. The most common integrations that multifamily professionals look for are integrations with core property management systems, such as accounting software, CRMs, or websites.Once you've developed a short-list of options, it's time for product demos. These will give you first-hand experience of how the solution works and help you determine if it meets your needs. More and more vendors are embracing transparency and offering self-service product demos on platforms like Revyse, which allow you to tour the product on-demand, at any time that is convenient for you. If the vendor doesn't have a self-serve product demo available, you can still contact them to schedule a demo through a sales representative.Be sure to also assess the quality of customer support provided by the vendor during your research phase, as well as the vendor’s track record for reliability and innovation. A strong support system and a commitment to continuous improvement are essential for a healthy long-term partnership.Once you've conducted thorough research, you're ready to select the product that best addresses your problem, fits your requirements, and meets your goals, objectives, and budget. Now, let’s continue developing a winning business case.3. Quantify the BenefitsTo build a persuasive business case, it's crucial to quantify the benefits that the proposed solution can deliver. This data-driven approach will help you build a compelling business case, making it easier to gain buy-in from senior leadership and other project stakeholders. Typically, these benefits can be categorized into three main areas:Revenue Enhancement: Calculate the potential increase in revenue from improved lead conversion rates, higher occupancy levels, or reduced vacancies and turn times.Example: If your new software solution can help improve lead conversion rates by 10% and you usually generate $1,000,000 in annual revenue from leases, this would result in an additional $100,000 per year. Similarly, if the solution can help reduce turn times, you can estimate the increased revenue from shorter vacancies based on average rent prices.Cost Savings: Estimate the reduction in costs due to streamlined marketing and leasing processes, lower employee workload, or fewer errors.Example: With a more efficient marketing and leasing process, your team could save 15 hours per week, equating to a cost savings of $15,000 per year (assuming an average hourly wage of $20). Additionally, if the new software can automate certain tasks and reduce errors, you might save another $5,000 in expenses related to correcting mistakes or addressing resident dissatisfaction.Risk Mitigation: Assess the impact of improved compliance and reduced exposure to fines and legal actions.Example: Suppose your new software solution can help ensure that all leasing documents are compliant with local regulations, reducing the risk of fines or legal actions. If your organization has historically faced $10,000 per year in fines or legal fees due to non-compliance, implementing the new software could potentially eliminate those expenses.By providing tangible examples and quantifying the benefits in each of these areas, you can demonstrate the value of the proposed technology solution more effectively.4. Understand the TimelineWhile vendors typically provide implementation timeline estimates as part of standard deal negotiations, it’s always wise to consider your own implementation timeline, through the lens of your organization’s behaviors and patterns. Does your company tend to adopt new tools more slowly, through phased approaches? Or does your company take a ‘rip-the-band-aid-off’ approach and prefer to minimize the length of a roll-out period? Here are a few tips on how to consider the implementation timeline in your business case:Evaluate the complexity of the new software or technology, as this will influence the time needed for implementation. Consider factors like integration with existing systems, customization requirements, and the learning curve for users. Are you going to be reliant on other departments or leaders to allocate resources to the project? Consider this in your timeline.Next, break down the implementation process into key milestones, such as signing contracts, setting up the infrastructure, configuring the software, training staff, and conducting a pilot test. Estimate the time required for each milestone and establish deadlines accordingly.And be sure to identify any potential risks or challenges that could impact the implementation timeline, such as technical difficulties, organizational resistance, or competing priorities. Think about any contingency plans that you may need to have in place, and how those plans may disrupt the timeline. By thoughtfully considering the implementation timeline in the business case, you can demonstrate a well-rounded understanding of the project's scope, requirements, and potential challenges.5. Estimate the Investment and Calculate the ROIThis is an essential step in demonstrating the value of your new solution to stakeholders. Here's the nitty gritty on how to approach these calculations:Start by identifying all the costs associated with the software investment. These may include:Software license or monthly subscription feesHardware costsImplementation and setup feesAny consulting services requiredTraining costs for staffOngoing maintenance, support, and upgrade costsNext, quantify the potential benefits that the software can bring to your organization. You already did most of these calculations in step 3, so it should be quick and easy to include them here as well:Improved operational efficiency, resulting in reduced labor costsIncreased revenue, due to higher productivity or additional leases signedEnhanced resident satisfaction, leading to higher renewal ratesCost savings from automating manual processes or reducing errorsNow you're ready to calculate the ROI. To determine the ROI, use the following formula:ROI (%) = [(Total Benefits - Total Costs) / Total Costs] x 100The ROI is expressed as a percentage, indicating the return on each dollar invested in the software. A positive ROI demonstrates that the investment is worthwhile, while a negative ROI indicates the costs outweigh the benefits.Another useful metric to include in your business case is the payback period, which represents the amount of time it will take for the investment to break even. Calculate the payback period by dividing the total costs by the annual net benefits (annual benefits minus annual costs). A shorter payback period is generally more favorable.Once you've calculated the investment and ROI, add these numbers to your business case. Presenting a comprehensive analysis and showing your commitment to the financials will help stakeholders understand the value of the software investment and increase the likelihood of gaining buy-in.6. Address Potential RisksEvery good business case makes its own counter arguments, diffusing objections before they have a chance to be made, reinforcing the credibility of your proposal. Begin by brainstorming and listing potential risks that could impact the project's success. Risks can stem from various sources, including technology, organization, budget, timeline, and external factors. This should include anything that could feasibly go wrong, such as:Disruption to existing processes is too greatEmployee resistance to changeIncompatibility with current systemsVendor goes out of businessBudget overruns or timeline delaysRegulatory environment changes without warningFor each identified risk, evaluate the likelihood that it would occur, and the potential impact on the project if it were to materialize. This assessment will help prioritize the risks that require more attention and resources. For each significant risk, develop a plan outlining how you’d mitigate it. This proactive approach shows that you’re prepared to address challenges, and your transparency will build trust with stakeholders and show that you have thoroughly considered the proposal from various angles.7. Present the Business CaseCongratulations! You've successfully crafted your very first business case, and it's time to showcase your hard work to senior leadership. Presenting your business case is a fantastic opportunity to demonstrate your strategic thinking, problem-solving skills, and commitment to innovation.As you prepare to take the stage, remember to be concise, clear, and persuasive in your delivery. Your enthusiasm and confidence in the proposed solution will be contagious, so let it shine. Focus on highlighting the most captivating aspects of your case, such as the quantifiable benefits and the impressive return on investment. These key points will make a lasting impression on your audience and illustrate the potential value of your proposal.It's natural for company leaders to have questions or concerns, so be prepared to address them with confidence and clarity. Anticipate their inquiries, and arm yourself with additional details, examples, and data to reinforce your case. This readiness will showcase your thorough understanding of the project and your ability to navigate challenges with ease.So, take a moment to revel in your accomplishment, and get ready to make a powerful impact. Presenting your well-crafted business case to senior leadership is an incredible milestone, and you should be proud of what you've achieved. Here's to the beginning of an exciting new technology journey that could significantly impact your career - and your company’s portfolio.⭐ ⭐ ⭐ ⭐ ⭐Team Revyse

8 months ago

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Team Revyse

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How to Gather B2B Software Reviews in Multifamily (and what to do with them)

We can say whatever we want about ourselves, but it can’t hold a candle to what our customers say. When I joined the Knock CRM team in 2021, my primary goal was to tell customer stories. Case studies are great, but I was looking for quality and quantity. Our customers were obsessed with us, and I wanted as many diverse voices as possible to sing our praises from the rooftops. In just a few short months, we went from 0 to 40+ G2 reviews at 4.9 out of 5 stars and earned seven badges, including High Performer, High Performer Small Business, Users Love Us, Easiest to Do Business With, and Best Support. We slapped those badges on our LinkedIn banner, in sales decks, email signatures, and so much more. If you’re selling anything in the multifamily industry, you know how vital relationships are. Reviews are how you build that relationship network at scale. In this guide, you will learn:How and who to ask for reviewsBuild a set-it-and-forget-it review-generating machine What to do with the reviews once they start pouring inAsking for Reviews“Exercise gives you endorphins, endorphins make you happy, and happy people just don’t kill their husbands!” - Elle Woods What else do happy people not do? Leave reviews. It’s unhappy people who are the quickest to the keyboard. What are happy people doing? Minding their business and using your product. You don’t get what you don’t ask for. So when you have a good experience with a customer, ask for that review. If you’re reading this, you might be a marketer who’s either been tasked with or feels strongly about building your reputation here on Revyse. In that case, your day-to-day interactions with customers might be limited, and this strategy is all about quantity, so let's talk about automation and scale first. Here’s what you’ll needA survey platform - Ask customers for their honest opinions.A marketing email software - I know you already have this, duh.A little baby budget - Your customer’s time is valuable. We have to sweeten the deal. Getting Your Survey Set UpThere are several tools out there that range in price and functionality. You can always go with old faithful Survey Monkey, but it is best if the survey can live in the email's body vs. a survey link. That way, you can capture their answer directly from the email, making it as easy for them to answer. Here are some platforms that have taken my review game to the next level.AskNicelyYour go-to for all things comprehensive. Seamlessly tie it with Salesforce, trigger surveys post-Quarterly Business Reviews, or after significant customer touch points. The beauty of branching logic? A stellar score could lead them to write a rave review, while anything less can be a discovery trail to unearth the ‘why.’ The cherry on top? Their real-time Slack alerts for CSMs. The intuitive dashboard, the direct email features, and the sleek design make it stand out. It's a bit of a splurge, but the value is undeniable.IterateFor those who love a swift setup without skimping on efficiency, Iterate is the jam. The team behind it is refreshingly hands-on—the founders answer the support chat. Craft your survey, embed it directly into your email platform, and you're golden. It’s intuitive, capturing the essence of each review.🧰 Pro tip: Wrestling with designing emails that pop? I've been there. When traditional tools leave you hanging, Beefree.io steps in like the unsung hero of the email design world. This user-friendly front-end builder is a breeze to navigate. Craft your design, then drop that HTML straight into your email tool of choice. And the sweetest part? It'll even play host to your images, so you’re not juggling uploads. Truly, a marketer's little secret! Making the AskOnce you've got a grasp on your current customers, slide them into a sequence nudging them toward your profile on Revyse. Here's a little trick from my playbook: dangle a $20 gift card their way. Consider offering a $20 gift card as a thank you. It acknowledges the value of their time, and it sweetens the deal. Don't believe me? Industry giants like G2 and Capterra are already playing this game, handling those gift card distributions themselves. See? You're in good company! 💅🏼Since our customers are busy, I like to give them plenty of opportunities to share their experience with your product, so I drop them into a four-email series and send the email out in this order:1st email: immediately after they’ve been added to your campaign.2nd email: 48 hours if no action was taken from email #13rd email: 5 days after no action was taken from email #24th email: 7 days after no action was taken on email #3👀 Looking for some email inspo? Check out my Promoter review solicitation email series [Template]Dishing Out Your RewardsEven though Bezos is an evil overlord, I like to use Amazon gift cards as a nominal incentive to reward users for their honest feedback because they’re easy to distribute in bulk. Because Revyse only allows verified buyers to leave a review, you can see which of your raving fans left a review. Then grab their emails and head over to Amazon’s eGiftcard page. I like to upload a branded gift card image and write a generic note like:Thanks for taking the time to share your [Your company] experience on Revyse! Hope you enjoy this gift card!What to Do with Your Reviews?There are a ton of benefits to having reviews on Revyse. Buyers may discover you there when they’re looking for a specific solution, or maybe they’ve heard of you but are looking for extra validation from a non-biased 3rd party review site. But what else are those reviews good for? I’m a huge advocate of social proof and letting your customers tell your stories. After all, I was among the first to give a free apartment to an influencer. If you're going the extra mile on Revyse, let’s make that content hustle on the side. Here are some ways to sprinkle that social proof magic into your marketing:Add badges to your LinkedIn banner or email signatures - This one’s a classic. We’ve seen it before, and it hits every time.Include a “customers love us” section on your website - Opt for genuine review snapshots or integrate a live feed. A shoutout from an independent third party always carries more clout than our words, however catchy they might be. Use those LinkedIn mentions, Facebook raves, tweets, and of course, your glowing Revyse reviews. Use a screenshot as a LinkedIn ad - This trend has been picking up steam on LinkedIn. Instead of using branded graphics for LinkedIn ads, they’ll screenshot a post or tweet from a customer talking about them and use that as the image. It gives, “Don’t take our word for it. Here’s the proof,” and I love that. Build a grabber quote repository for your sales team - Extract the best one-liners from your reviews and organize them by what sets your company’s unique value props. Your sales crew can then sprinkle them in emails and social shoutouts or casually drop them in chit-chats.Sprinkle them everywhere - Got your power quote collection ready? Now, plaster them everywhere:Demo decksAt events (think banners, booth design, flyers) Landing pagesLead nurture emailsTemplates for your Sales Development Reps (SDRs)In ClosingNavigating the multifamily landscape and standing out amongst the myriad software solutions is no easy feat. But there's a secret sauce – your customers. Their experiences, stories, and validation are pure gold, and if leveraged right, they can catapult your brand's credibility to unprecedented heights. Remember, in this digital age where word-of-mouth is online, every review is a narrative waiting to be amplified. So, tap into these stories, ensure they echo across all your marketing touchpoints, and let them build your brand. Because at the end of the day, no advertising is more powerful than a satisfied customer's voice.Stay authentic, keep your customers front and center, and keep the reviews rolling. To many more stars and badges in your multifamily journey! 🌟Cheers to building trust, one review at a time,💚 SydneyP.S. Do you have an idea of how to gather more reviews or where to use them that I might have missed? Drop it in the comments. I’d love to add it to the guide. Or better yet, create your own! IMO just like reviews, with great content, more is more. About the AuthorSydney Webber has a decade of multifamily experience, with the majority being in marketing on both the operator and vendor sides. She is passionate about telling customer stories and building scalable, repeatable playbooks empowering scrappy teams to do less with more. In 2022, her podcast, Renter Obsessed, won the Platinum DotComm award and was the first official Multifamily Social Media Summit podcast. Sydney has shared marketing strategies as a mainstage speaker at multiple AIM conferences and featured in Globe Street, Multifamily Insiders, and Multihousing News. All opinions expressed by Sydney Webber are her own and do not represent the opinions of her employer, Updater.

8 months ago

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Sydney Webber

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Blurred Lines: B2B Buyers Expect B2C Experiences

B2B sales is undergoing a seismic shift, with open access to information and digital self-service experiences stealing the spotlight. The overwhelming majority of today's software buyers crave an all-access pass to crucial product intel - pricing, feature specs, and demos - without the hassle of dealing with a sales rep.Buying behaviors like these are old news for B2C sales and marketing pros, who've been catering to consumer demand for smooth digital shopping experiences for nearly a decade, thanks to the likes of Amazon, AirBnB, and Zappos. In this fast-paced B2B sales universe, it's time for software leaders and marketing decision-makers to step up and embrace the self-service revolution that B2B technology buyers are hungry for.B2B Software Buyers Demand a B2C Sales ExperienceIn this new era, B2B buyers increasingly demand a B2C-like experience. With millennials making up the majority of B2B buyers, features like mobile apps, product comparison tools, personalized recommendations, real-time messaging, fast and intelligent search, and proactive service have become essential for B2B vendors. As a result, the role of sales professionals is evolving, with consultative, team-based approaches becoming less important as buyers increasingly define their needs and identify potential solutions before contacting a sales representative.User Reviews, Transparent Pricing, and Self-Service Demos are WinningA recent McKinsey study reveals that the majority of sales interactions now happen remotely, with more decision-makers using digital self-service tools to identify and evaluate new vendors, and TrustRadius survey data shows that virtually 100% of technology buyers want self-service options for part or all of the buying journey, expecting easy access to user feedback, feature specs, pricing, and product demos. Vendors who want to reach modern buyers should prioritize publishing pricing on their websites and making demos or self-guided shopping experiences available.User reviews play a crucial role in market differentiation, with over 80% of buyers considering them among the most impactful resources before making a purchase. In contrast, vendor sales reps have dropped out of the top five resources, with only 23% of buyers contacting a sales representative as their first step.A seamless demo process is also crucial, with 70% of buyers listing "options for accessing a demo" among the top three things vendors can do to make them more likely to buy. On the flip side, 40% of buyers mentioned "having to contact sales for a demo" as a factor that made them less likely to buy. Providing accessible pricing information is another key expectation for self-service, with 81% of buyers wanting to find pricing information on their own.B2B Software Sales Has Shifted for GoodTo thrive in this shifting environment, B2B software sales leaders and marketing decision-makers need to embrace digital self-service and invest in the tools and strategies that create seamless, engaging experiences for technology buyers. By doing so, they will not only meet the demands of today's B2B buyer but also position themselves for long-term success in an increasingly digital world.⭐ ⭐ ⭐ ⭐ ⭐Team Revyse

9 months ago

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Bobbi Steward

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Multifamily Software Buying 101: Nailing Requirements

As a multifamily professional, selecting the right technology vendors and implementing new software is a critical task with long-lasting consequences. The right choices can truly revolutionize your operations and boost efficiency.A well-thought-out and clearly written business case can make all the difference in ensuring your software project's success. And the cornerstone of any business case is understanding and defining the requirements, which are the foundation for your project. For a deep dive into how to master the art of the business case, take a look at this article. Now, let’s explore the importance of requirements when building a business case, and how they can help you make informed decisions when selecting a technology vendor.The Importance of RequirementsWhen you’re shopping for a new technology or service vendor, requirements are like the compass guiding your project, keeping everyone on the same page and moving in the right direction. They're essential for making sure the end result checks all the boxes, achieves your goals, and keeps your residents and onsite teams smiling. When you spell out your requirements loud and clear ahead of time, you're setting the stage for great communication with potential vendors and making smart choices every step of the way.Understanding Different Types of Requirements1. Functional requirementsIn the multifamily industry, functional requirements are the must-haves for any software project. For example, your property management software should enable you to manage leases, track maintenance requests, and generate financial reports, or your digital advertising provider should be bidding on keywords based on your portfolio’s actual unit availability. When drafting functional requirements for your business case, clearly outline the essential tasks the software tool must handle, like streamlining rent collection, automating tenant screenings, or showing real-time pricing. These functional requirements should be specific to your company’s needs and challenges.2. Non-functional requirementsAnother group of requirements to consider in your business case are non-functional requirements. These focus on the characteristics or attributes of the software that impact its performance, usability, reliability, or security. Examples include response time, scalability, accessibility, and maintainability. For instance, your multifamily software should be able to handle peak traffic times without crashing, be user-friendly for property managers and residents, and securely store sensitive data. This is where your company may decide that deep linking to a resident app for a seamless user experience is critical, or meeting specific WCAG accessibility levels for a website may be non-negotiables. Keeping these attributes in mind ensures you choose a vendor that can meet any internal IT or risk review requirements.3. User requirementsWhen shopping for new technology tools, it’s also important to consider the expectations and needs of the people who will interact with the software, such as property managers, leasing consultants, and residents. By documenting their preferences, you can ensure the software is user-friendly, leading to higher adoption rates and greater satisfaction. For example, an intuitive interface for managing maintenance requests or a convenient resident portal for rent payments and communication can take your project to the next level.4. Business requirementsBusiness requirements will highlight the overarching goals and objectives the software should achieve in line with your company’s vision. For example, a goal might be to reduce property management operating costs, streamline communication between staff and residents, or increase renewal rates. Identifying these requirements helps align the software with your company’s long-term objectives and addresses specific industry challenges.5. Technical requirementsAnd finally, there are technical requirements - these are the nitty-gritty details, such as hardware or software compatibility, data storage capacity, or integration with existing systems. By understanding these requirements, you ensure the software fits seamlessly into your organization's tech environment.Some examples of technical requirements that are specific to the multifamily industry include:Integration with accounting systems: Financial management is a crucial aspect of property management. Seamless integrations with these systems allows for real-time synchronization of financial data.Compatibility with multiple devices: Property managers, leasing agents, and maintenance techs often use a range of devices, including smartphones, tablets, and laptops. Your software should be compatible with multiple operating systems (iOS, Android, Windows) and offer a responsive design that adjusts to different screen sizes, ensuring a consistent user experience.Sufficient data storage: As your multifamily portfolio grows, so does the amount of data you need to store. Your software should offer scalable storage solutions to accommodate growth in properties, residents, and historical records. Cloud-based storage is a popular option, providing secure and scalable data storage without the need for in-house server maintenance.Integration with communication tools: Efficient communication is vital in the multifamily industry. Your software should integrate with communication platforms such as email, text messaging, resident apps, and VoIP services to streamline interactions between property management staff and residents.Integration with marketing and advertising platforms: Your multifamily software should connect with core marketing tools like websites, digital advertising platforms, and marketing analytics tools like GA4, to provide seamless lead to lease measurement. These integrations can help automate property updates, track prospect leads, and optimize marketing strategies.Security and compliance: Data security is of utmost importance in the multifamily industry, given the sensitive information involved. Your software should adhere to industry-standard security protocols and comply with relevant regulations such as the CPRA and the Fair Housing Act.Customizable reporting: Each multifamily portfolio has its unique reporting needs. Your software should offer customizable reporting options that allow you to generate reports based on specific clients, data points, timeframes, and other criteria that are most relevant to your company’s goals and decision-making processes.How to Leverage Requirements to Make Better Buying DecisionsNow that you have a solid understanding of the different types of requirements, you can confidently dive into defining yours, building your business case, and finding the perfect vendor to help you solve your next big challenge. While not every business case will require a thorough write up of all 5 types of requirements, it is important to explore every potential opportunity to make your new software purchase successful.1. Get Your Requirements Down on PaperFirst things first, jot down your requirements. Roll up your sleeves and create a thorough list covering the functional, non-functional, user, business, and technical aspects that apply to your project and need. Remember, details matter here.2. Prioritize Your RequirementsNext up, it’s time to play favorites. Not all requirements carry equal weight. Pinpoint the most critical ones and rank them based on their significance to your company and your project objectives. If there are some requirements that are non-negotiable, put those at the top. If there are others where you can be flexible, move them toward the bottom of your list.3. Kick Off Your Vendor Search ProcessNow it’s time to do some homework. Leverage search engines, vendor reviews, software comparison sites, and industry-specific websites to find vendors who are pros in the multifamily industry. Look for published pricing, product reviews, case studies, and customer testimonials to gather insights on the experiences of others and reach out to peers, colleagues, or industry experts for their suggestions on the best tools or technologies to address your specific problem. Compare your top requirements with what each vendor offers to narrow down your options.4. Dive into Product DemosWhen you’re ready to compare your shortlisted solutions, product demos will give you first-hand experience of how the solution works and help you determine if it meets your needs. More and more vendors are embracing transparency and offering self-service product demos, which allow you to tour the product on-demand, at any time that is convenient for you. If your shortlisted vendors don't have a self-serve product demo available, reach out and ask them to pitch their software to you on a video call.5. Make An Informed Buying DecisionNow, it's decision time. Put on your analyst hat and weigh each proposal and demo against your prioritized requirements. Think about factors like cost, the time it'll take to get the ball rolling, ongoing support, and any customizations or integration requirements you might have.And finally, take a deep breath and make your choice. Trust your research, your peers, and your instincts to select the perfect multifamily software vendor for your next project.⭐ ⭐ ⭐ ⭐ ⭐Team Revyse

9 months ago

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Team Revyse

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Software Buyer's Survival Kit

The B2B software buying landscape has changed, putting multifamily software buyers in the driver's seat like never before. Self-service demos, access to reviews, and transparent vendor and supplier data are just a few of the tools that empower operators to navigate the vendor selection process with confidence.Let's dive into the key trends and resources that give decision-makers like yourself the tools to survive the vendor discovery process and the power to shop smarter, not harder.1. Embrace the Self-Service RevolutionModern technology platforms and digital communities allow you to take control of your software shopping experience on your own time. Dive into software and service review platforms, explore community forums, and scan vendor websites to gather crucial intel on features, pricing, demos, and more.💡 Actionable Tip: Prioritize vendors that offer transparent pricing and hassle-free access to demos, letting you evaluate options without the sales pitch pressure. You'll be able to take an objective approach, choosing what works best for your business needs, and won't feel obligated to continue unproductive conversations out of kindness.2. Trust the Power of User ReviewsVerified user reviews are your secret weapon in the software shopping battle. With over 86% of tech buyers now relying on peer feedback, these real-world insights on product performance and satisfaction can save loads of time and help you put together a rock solid shortlist. Quickly understand how a new point solution would fit into your existing multifamily tech stack by reading verified reviews from experienced industry users who have gone through implementation themselves. No more post-contract signing surprises.💡 Actionable Tip: Prioritize vendors that offer transparent pricing and hassle-free access to demos, letting you evaluate options without the sales pitch pressure. You'll be able to take an objective approach, choosing what works best for your business needs, and won't feel obligated to continue unproductive conversations out of kindness.3. Tap into Data Insights to Get the Whole StoryStay ahead of the game by monitoring industry news, product launches, acquisitions, and competitor moves. Industry insights aren't just for vendors — they can be a goldmine for software buyers too. By keeping a pulse on the ever-evolving proptech landscape, you’ll be able to make better informed decisions about the types of vendors you want to partner with.💡 Actionable Tip: Sign up for industry newsletters, follow relevant blogs, and join online communities to stay in the loop on the latest software trends and insights.4. Demand a B2C-like ExperienceAs a multifamily professional, you know all too well that prospective renters want to see in-unit photos, check availability, and view pricing before showing up for a tour. We should expect the same level of self-guided demo experiences, transparent features and pricing, and proactive customer support from our B2B software vendors. Not many of us would typically try on a pair of shoes or a piece of clothing at a department store without knowing the price of the item first, so why should you expect the process to be any different when buying software?💡 Actionable Tip: Choose vendors that offer a seamless sales process, are transparent about their integrations, capabilities, and pricing, and offer responsive customer support and onboarding to help you maximize your software investment.Get ready to conquer the new B2B software shopping landscape with confidence. With self-service experiences, insightful user reviews, and a focus on customer experience, you're all set to make informed decisions that will drive years of success for your multifamily business.⭐ ⭐ ⭐ ⭐ ⭐Team Revyse

9 months ago

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Team Revyse