COVID-19 has contributed to the explosive growth in chatbots across all industries, including Multifamily. Two-thirds of consumers have interacted with a chatbot in the past year, and an estimated 80% of businesses plan to invest in chatbots by the end of 2024.
Even before the pandemic, chatbots were poised to become a must-have for consumer-facing businesses like Multifamily. As a result of recent events and the subsequent shift to a more digital existence for many people, the chatbot market has kicked into hyperspeed.
This is not only great news for companies that have already adopted an apartment chatbot, it also shows the huge importance of apartment chatbots now and in the future.
Here are 7 excellent reasons to invest in an apartment chatbot now:
A chatbot can help you snag leads.
Ideally, your apartment chatbot should be programmed to ask prospects for their contact information, which leasing agents can then use to follow up. Your chatbot service should also be capable of generating a transcript of the bot-prospect conversation. This gives leasing agents some insight as to what the prospect is looking for in an apartment, which provides your team an easy way to start the sales conversation.
A chatbot never takes a vacation.
Chatbots live on apartment websites and are available 24/7 to answer prospects’ questions and nudge them down the funnel by scheduling tours and sending lease applications. Since the COVID-19 pandemic, apartment chatbots have played an important customer service role for leasing offices that have closed or are operating with limited hours.
A chatbot is a customer service rockstar.
A huge portion of today’s renters are Millennials and Gen Z, who have been raised with technology and expect instant, on-demand service. You can meet them where they are and give them the customer service they’re accustomed to with an apartment chatbot. Plus, many people, especially the younger set, use the telephone as a last resort and prefer to communicate via text.
A chatbot sets you apart from the competition — or helps you keep up with it.
The apartment chatbot market has grown substantially since 2017, when Respage created the first A.I. chatbot for Multifamily, and the pandemic has only increased demand. Having a chatbot option when other communities don’t means you can create a strong lead pipeline and show your commitment to excellent customer service. On the other hand, if your competitors have chatbots and you don’t, it makes perfect sense to consider one to keep up.
A chatbot helps you use your resources efficiently.
According to a report by IBM, businesses handle 265 billion customer service inquiries per year, and 80% are routine questions that could be fielded by a chatbot. This would free up human agents for more challenging work, such as following up with prospects and attending to the needs of current residents.
A chatbot can save you money.
Increasing your efficiency naturally comes with cost savings. Having a chatbot handle routine inquiries leaves more time for leasing agents to spend on nurturing leads, which brings in much-needed business, as well as be proactive about issues within the community that could cost more later. Also, relying on an apartment chatbot to tackle lower-level work means agents have more time to keep current residents happy, which is crucial in terms of reputation management.
A chatbot can enhance your brand.
A bot with personality and a touch of humor can leave a lasting impression. It sends the message that this is an apartment community that cares about offering great customer service, but it also doesn’t take itself too seriously. Bonus points if you can assign custom colors to your chatbot that align with your overall brand image.
Conclusion
Within a few years, the use of Multifamily chatbots has transformed from experimental and edgy to mandatory, especially in the wake of the coronavirus. The last six months have shown the importance of investing in technology that helps apartment community team members do their jobs.
If you’re interested in getting a chatbot for your apartment community, Respage can help! Our Respage Chatbot is the most robust Multifamily chatbot offered in the industry. Talk to us to learn more!
