In the fast-paced world of property management, the digital landscape plays a pivotal role in shaping the success of your communities. In a recent Crawford’s Corner webinar hosted by Patty Crawford, Zumper’s VP of Strategic Sales, and Stephanie Linton, the Marketing Director of Princeton Management, the spotlight was on the crucial topic of online reputation management. Together, they gathered and shared key takeaways to guide you through the essentials of reputation management and why it’s a game-changer for property managers.
According to Hubspot, “Reputation Management” is the act of managing public perceptions about a business or enterprise. Essentially, this means how renters perceive your communities and management company. As the saying goes, perception is reality, and in the digital age, online reviews hold the power to shape that perception.
The power of ratings to renters
One of the eye-opening statistics shared in the webinar is that a staggering 88% of renters read reviews before touring an apartment. Reviews are not just a formality; they are a crucial decision-making factor. A whopping 81% of renters consider reviews important when searching for an apartment, and 55% won’t even consider touring an apartment if the star rating is not 4 or above. It’s not just renters; even Google’s search term algorithm is influenced by reviews, with 34% of it being review-based.
Why property managers should care
The correlation between online reviews and occupancy rates is undeniable. Poor reviews not only deter renters from touring your properties but also affect Google’s decision to showcase your communities in search and map results. Bad reviews translate to lower occupancy rates, making it imperative for property managers to take control of their online reputation.
Managing beyond Google Ratings
Property managers should be vigilant across various platforms, not just Google. Yelp, Facebook, Apartment Ratings, and more play a crucial role in shaping public perception. But it’s not just about attracting renters; it’s also about talent acquisition. Leasing professionals are less likely to work for a firm with a tarnished online reputation on platforms like Glassdoor.
Effective reputation management strategies
So, how do property managers go about managing their online reputation effectively? Here are some key strategies discussed in the webinar:
- Stay Informed: Know what’s being said about your communities online.
- Team Accountability: Ensure your team handles calls from residents and prospects professionally.
- Respond to Reviews: Actively respond to negative reviews to show engagement and concern. In fact, 33% of reviewers will remove negative reviews if they are responded to within 12 – 24 business hours.
- Immediate Action: Take prompt action, flag invalid reviews, and leverage platform-specific terms and conditions.
- Across All Platforms: Remember, reviews can be left on various platforms; be present on Facebook, Glassdoor, Yelp, ApartmentRatings, and more.
Managing online reputation can be done manually, but there are also third-party tools like Zumper’s Amplify Reviews. This tool offers a negative review removal feature and an automated review response tool, providing a comprehensive solution for property managers.
Real results: Princeton Management’s success story
Princeton Management’s experience with Zumper’s Amplify Reviews is a testament to its effectiveness. Between August and December 2023, they saw an impressive 51 negative, illegitimate reviews removed across 25 properties. Platforms included Google, Apartment Ratings, and Apartment Guide. Their star rating on Google also increased by a remarkable 2.6 stars.
Want to learn more? Watch the webinar!
Delve deeper into the strategies, tools, and success stories shared here by watching the full webinar here. Plus – subscribe to receive notifications about future webinars so you never miss a beat.
Source: Consumer Fusion
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