YPWP Part 3: 90 day restoration plan
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Here are our recommendations for getting your operations back on track. This 90-day plan will help your team improve communication, sense of community and online reviews
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YPWP Part 3: 90 day restoration plan
- 1. Part 3
- 2. Quick Stats
- 3. Quick Stats COVID-19 National Renter Study SatisFacts COVID-19 National Renter Study Please rate your level of satisfaction with the following: Round 1 Round 2 Amount of communication from management regarding community updates/changes due to COVID-19 3.86 3.81 Frequency of communication from management regarding community updates/changes due to COVID-19 3.74 3.71 The use of social media to keep residents connected to the management team 3.20 3.33
- 4. 1-30 days Focus on Communication
- 5. Why it’s important COVID-19 National Renter Study SatisFacts COVID-19 National Renter Study Overall Average* Renters “very likely” to renew* Renters “not likely” to renew* Amount of communication from management regarding community updates/changes due to COVID-19 3.85 4.26 3.32 Frequency of communication from management regarding community updates/changes due to COVID-19 3.73 4.13 3.19 The use of social media to keep residents connected to the management team 3.25 3.66 2.53
- 6. Internal and external • Internal updates • Townhall calls/video • Team meetings • Weekly emails • Make use of current tools • Social media • Portal • Text (if applicable) • Respond to all reviews • Within 48 hours • Zero templates • Be transparent
- 7. Focus on communication Monday Tuesday Wednesday Thursday Friday Email from manager Social media Updates on portal Social media Letters to doors What’s new What’s changed What’s happening Contest of the week Event of the week Pet of the week Alerts Of the moment changes Just checking in Contest Winner Employee highlights Event recap Maintenance reminders Amenity reminders Weekend Office hours
- 9. 31-60 days Focus on Sense of Community
- 11. SOC is the connection between residents and the management team. Consistency Trust Confidence Engagement SOC
- 12. Why it’s important SatisFacts COVID-19 National Renter Study
- 13. Focus on SOC • Check in often with residents • Give them a way to check in with you • More positive than negative • Resident events support SOC • Social media amplifies SOC
- 14. 61-90 Days Focus on Reviews
- 15. Why it’s important 35.9% Renters searching for new home within the last 30 days 87.7% Unable to view in person 80.4% Were able to view virtually 52.2% Virtual tours did not provide sufficient info to make a decision SatisFacts COVID-19 National Renter Study
- 16. Why it’s important • Consumers read an average of 10 online reviews before feeling able to trust a local business. • The average consumer spends 13 minutes and 45 seconds reading reviews before making a decision. • 48% of consumers only pay attention to reviews written within the past 2 weeks. [Source: BrightLocal, Local Consumer Review Survey]
- 18. Focus on Reviews • Ask residents/prospects for review via video • Add to automated service request follow ups • Text links to residents (if applicable) • Incentives for employees NOT residents
- 19. KEY TAKEAWAYS
- 20. Key Takeaways July: develop strategies for transparent and consistent internal/external communication August: find opportunities to connect to your residents September: curate reviews that speak to how well your team has handled the pandemic
- 21. COVID-19 National Renter Study Over 100,000 current renters Topics: • Working from home • Management team’s performance • Financial implications • Renewal intentions • Renters searching for new homes Survey Data: • Overall results • By age • By rent • By region FREE to download!