🤯 The Challenge: Slow Responses Come at a High Cost
Imagine a renter's frustration: they've found the perfect apartment online, they’re stoked, they submit an inquiry...and then, stone-cold silence. Minutes turn into hours, and they move on with their day. They go with another option, and you lose money.
This scenario is all too common in the multifamily industry, where slow response times cost communities leads, tours, and revenue.
Today Zuma helps owners manage hundreds of thousands of units across the nation and we see the impact of slow response times first hand from our own data. We’ve done an analysis on the likelihood a prospective renter ever responds to an SMS engagement based on the response time by the community on-site. This was done by taking a large sample size across the united states and look at all conversation activity not just the first response from inquiry.
The results show a steep linear drop off between 2 minutes to 18 minutes showing that responding to an SMS in less than 20 minutes increases the likelihood of response by 23%.
We then see a progressive but more gradual drop off in responses from 18 minutes to 1.5 hours, with a resulting 51% decrease in the likelihood of ever receiving a response from the prospective renter.
🔬 Prospect Leasing & Management Response Rates
In other words, up to 50% of a property's marketing budget is being wasted on ineffective leasing practices, as a prospect who never responds becomes a dead lead and will never convert to a lease. If you imagine this at scale, this is millions of dollars wasted every year.
However, it's unreasonable to expect on-site teams to respond to every message and email within 18 minutes or even within the first 1.5 hours - as most leasing teams conduct tours and batch-process responses at the beginning and end of the workday.
And what if a message comes in in the middle of the night?
What can on-site teams do to engage prospects within the optimal time span?
✅ The Solution: Build Personalized Relationships at Scale
Kelsey engages leads instantly across all communication channels, answering questions, providing tailored property information, and seamlessly scheduling tours, offering:
- AI-Human Hybrid: Unlike competitors that hand off 20-30% of conversations, our Human-in-the-Loop team manages all interactions, maintaining our 2-minute response time.
- Comprehensive Management: Advanced AI drives engaging conversations, while our team ensures accuracy and nuance.
- Rapid Response: Zero handoffs and constant oversight keep prospects engaged when interest is highest.
- Omnichannel Excellence: Seamless communication across all channels.
With Kelsey by your side, you get:
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Get to all your leads at lightning speed, 24/7, with Kelsey!
