SPIKE INSIGHTS

Resident Engagement Series: Transparency & feedback

Best Practice Resident Engagement

 

To engage with residents, property operators must focus on connecting their communities – connecting residents to staff, connecting residents to one another, connecting residents to the wider local community, and connecting residents to their buildings. However, the key to successful, long-term resident engagement is understanding your residents’ needs, and pain-points and acting proactively.  

Pro-active resident engagement 

To optimise your resident engagement success you’ll need to find ways for your teams to listen to residents. With this information, you’ll want to personalise your approach by predicting initiatives that will be most effective, for example: events, additional services, promotions etc. Data is key here, as research indicates that 80% of CEOs believe they deliver a superior customer experience, yet only 8% of their customers agree. Indicating a gap between what companies think their customers want, and what they want in reality. 

Feedback is part of our everyday lives. Reviews will have influenced your residents’ decision in where to live. They influence your resident’s decision on whether to renew. So to build a compelling resident engagement strategy, it’s fundamental to understand where you stand with your residents at all times. Once you have the data you can identify areas that need improvement, or areas that are working well. Once these areas are identified you can act before they become problematic. This will boost your resident loyalty and improve your relationship with residents. 

Transparency 

In our opinion all feedback, is good feedback. In order to keep on top of resident satisfaction you’ll need to hear the negative feedback too. Some of our customers have chosen to host ‘I’m happy’ and ‘I’m not happy’ forums on their Spike resident portals. This gives residents a clearly defined forum to voice their opinion, and gives property operators an area to reply and demonstrate changes they are making. 

Even the most proactive operator will have problems and complaints, however it is vital residents have an area to voice concerns and feel they are heard and are being listened to. By asking for honest feedback, your residents will feel they have a voice within your community. An engaged, loyal group of residents are likely to be more forgiving and understanding if mistakes do happen, and decreases the likelihood of these mistakes affecting retention levels.

Increase the success of your marketing 

The benefits of listening to your residents go beyond resident satisfaction and retention. Once you truly understand what’s important to residents you can use these insights in future marketing campaigns to attract new residents, increasing revenue and maximising marketing budget. For example, if you know that the dog walking club within your development is extremely popular, you’d be sure to include this perk in your monthly marketing newsletter or run a marketing campaign focussing on the best dog friendly developments. Research by McKinsey has found that personalising your marketing can deliver 5 – 8 x more ROI on marketing spend.

 

Spike Living and Resident Engagement 

Spike Global delivers industry-leading software that connects people and properties to create attractive, efficient and
engaging places for living, working and playing. Spike Living has all the features and flexibility you need to delight your residents and empower your staff, with a bespoke residential app and a fully operational management dashboard.

Spike Living consistently delivers market-leading results across key metrics including resident engagement and retention. Our software allows you to streamline building management, deliver a thriving community, drive actionable insights and increase the value of your assets.

To find out more about how Spike could help your business, get in touch and a member of the team will be in touch shortly.