Is your leasing pipeline underperforming?
In this post we are going to look at a variety of published statistics from 2022 in relation to customer support response times and communication channels. The insights we draw will be obvious, but are summarized at the end of the post. And now, let’s begin:
86% of live chat tickets end with a satisfied customer.
Leasing Chat runs satisfaction surveys at the end of chats to gauge the satisfaction level of leads and prospects we interact with. We actually see satisfaction in the mid 90th percentile for most properties. Live chat is a great way to interact with customers online.
Just 27% of leads get contacted at all.
A common complaint we hear from prospects is, “I called the office and no one called me back”. Or, “I emailed last week with a question and no one responded”. Leasing Chat engages 100% of the audience coming to property websites, ILS, social, and other online sources. We mitigate this problem with no additional effort from onsite staff.
Fast responders win up to 50% of sales.
This has been proven time and again. Proactive sales approaches close more sales. And Live Chat is as proactive as you can be. Leasing chat is available off-hours, and can be available around the clock depending on property needs and traffic.
A 1-minute response time can lead to 391% more conversions.
This is a stat from Vendasta, a marketing and sales tool. It highlights how drastically the customer service market has shifted in recent years, and how the demands of customers have changed.
Thankfully, Leasing Chat guarantees a 30 second average response time for prospect interactions.
71% of clients have made purchases based on experience quality.
This is a no-brainer. Companies with better customer service, have better sales, better customers, and better satisfaction ratings. Multifamily managers that focus on customer experience, especially at first-contact and early-journey, end up having more lease conversions.
Businesses can see a 15% churn increase with slow lead response time.
This stat is highly dependent on market and channel, but it indicates what we saw above, that slow response to leads results in more prospects falling out of the pipeline.
79% of businesses say offering live chat has positively impacted sales, revenue, and customer loyalty.
This stat comes directly from companies utilizing Live Chat for customer communication. It’s shows the that Live Chat isn’t just a win for businesses, it’s also a win for customers, because it allows them to feel more connected with a business, and more valued.
Approximately 66% of customers expect an immediate response to their inquiries.
Immediate is a bit vague in the data point, and it is somewhat subjective depending on the market and the communication medium - but it again shows that today’s prospects don’t wait. Customers who have a question, want it answered right away, or they will move on.
42% of customers prefer real-time online chat as their communication method.
This is cumulative stat from the market as a whole. in certain demographics, say, under 45, the percentage jumps to 72%. Just another data point that highlights the changing market direction.
69% of companies use canned responses in their live chat service.
This stat shows how big of an opportunity there is in the market to excel at online communication. It speaks to the large number of companies that have recognized the need for Live Chat, but have not yet been able to implement it well, and rely on automated replies, which turns off many customers.
What this means is, multifamily companies that nail Online Live Chat, have a huge advantage over the rest of the industry.
78% of customers buy from the first responder.
When comparing 2 businesses side by side, and in the case of the multifamily industry, comparing 2 apartment communities side by side, a prospect weights heavily the customer experience they have. And a huge factor in the customer experience, especially for a new leasing prospect, is the promptness of service.
38% of consumers are more likely to buy from a company if they offer live chat support.
This is because it doesn’t just allow customers to get their questions answered – it’s an indicator of the long term customer experience prospect will have once they become a resident. Prospective residents aren’t just concerned with being served well now in the moment, they also want to be served well as residents, and by providing live chat, it will reinforce a properties' commitment to customer service, and the resident experience.
CONCLUSIONS
It’s not hard to see where we are going with this post, and the conclusions are somewhat obvious. The market as a whole is moving towards rapid response customer support. Customers continue to demand (and have become accustomed to) Live Chat services, and the growth of these services increases dramatically year after year.
Leasing Chat is one of the only live chat providers specialized for multifamily properties. We know the ins-and-outs of leasing, and how to work seamlessly with onsite teams to provide best-in-industry customer support solutions.