How Property Management Companies Can Master Social Listening Locally to Gain More Residents
As a property manager, wouldn’t it be helpful for you to have insight into conversations around your local properties, along with relevant discussions around the property world in general? It’s possible with social listening! Social listening is the process of monitoring social media channels for mentions of your property, your competitors, and trending topics.
Social listening at the local level takes it a step further and allows you to understand what residents say about your local properties and other properties in the area. Within this blog, we’ll explain how your property management company can take advantage of social listening locally to break through to prospective residents and win more leases.
Monitor Conversations Around People Looking for Apartments Locally
One of the best ways a property management company can increase leases is by tuning in to the conversations of people looking for apartments locally. Through social listening, you can set up tracking to find conversations that include keywords relevant to a property search. For instance, you could track “new apartment,” “lease,” and other keywords often associated with someone hunting for a new property.
While the volume of these searches may not be high, the quality is what matters. Local property managers can monitor these conversations and decide if the prospects are worth reaching out to directly. Once you begin watching some exchanges, you will learn what topics have prospective residents talking and find new keywords to listen for that will broaden the search. If you can win a few more leases every month through social listening, it will start to add up.
Determine Where Your Local Properties Have Room for Improvement
Most social platforms allow you to search your brand name for direct mentions, but what if a resident uses a shortened version of your property name or is just describing it? Social listening allows your local property teams to find conversations that don’t specifically mention your property name through business insights and smart alerts. These tools are an excellent opportunity because it will enable you to get more insight into what conversations are happening about your local properties on social media. Whether the discussions are good or highlight room for improvement, the key is to use these insights to inform your next marketing and sales strategies.
For instance, if you notice more resident complaints about slow response times for maintenance requests, you can work with your local maintenance teams to resolve the issue. If you utilize social listening regularly, you’ll stay ahead of any significant problems and maintain a positive reputation. Similarly, if you see people raving about your property’s pool, you can be sure to highlight the popular water feature in your marketing and sales tactics. Having a gauge on what people are saying about your properties is vital, and social listening can help your properties do so.
Find User Generated Content and Opportunities for Resident Testimonials
User-generated content is one of the most effective ways to market to prospective residents. Nothing is better than having an outside source promoting your property and boosting your reputation. In fact, 70 percent of future residents decided to visit a property with a higher online reputation. Social listening can help your local properties find user-generated content and spot current or previous residents who might be willing to provide your local properties with a resident testimonial.
Through social listening, you can zero in on residents who are speaking positively about where they live. Property managers can then reach out to these residents and ask permission to reshare the post on your local social channels. You can also take it a step further and see if they would be willing to do a more in-depth testimonial. Once you have a significant amount of UGC and resident testimonials, consider adding a page to your local websites to include all of this great content. Prospective residents who see UGC on your website or social channels are more likely to picture themselves living at your property, again helping you win more leases.
Get Intel on Your Competitors and Monitor Industry Trends
Social listening at the local level also allows you to get intel on your competitors and stay updated on the latest trends. Listening to conversations about your competitors will reveal ways your business is surpassing the competition, as well as places where your properties are falling short. It will also help you understand why prospective residents choose a competitor’s property over your own. For instance, are your rates significantly higher than the apartment complex down the street? Does your competitor offer valet trash pickup services while your property doesn’t? These are just a few examples of what you could uncover by listening to the voices around the competition.
In the same light, listening to conversations around industry trends is also helpful. For instance, many property management companies during the pandemic have switched to virtual property tours and reduced leasing office hours. How did prospective residents feel about this shift? Do residents prefer a virtual tour or a socially distant tour with masks? Listening to conversations around industry trends provides valuable insight into consumers’ minds and an opportunity to change marketing and sales strategies based on their wants and needs.
Now that it’s clear that social listening at the local level is a must, it’s time to find the right tool for your property management company. That’s where SOCi Listening comes in. SOCi Listening is the elite listening product that gives you VIP access to every critical conversation around your property management company. With SOCi Listening, you can mitigate potential crises before they happen with smart alerts, centralize corporate and local discussions happening around your properties on social and the web, and empower your properties to discover and share content relevant to their local market. For more information on how SOCi can energize your properties to develop a winning social listening strategy, request a demo today!