Whether you’re buying a new shampoo or scouting out a place to live or work, you likely rely on online feedback before making a purchase.
Most of us (95%) read reviews before making a purchase, and 58% of us will actually pay more for a product, service, or experience with stellar ratings.
This buying behavior is no different in the multifamily industry, where 84% of residents make their leasing decisions based on online ratings, and 79% will even change their minds about touring a potential home if they don’t like what they read on the internet.
Even though leases may be signed in your multifamily office, the rental shopping process begins online. That’s why an airtight online reputation management (ORM) is a must.
What is Online Reputation Management?
Online reputation management (ORM) refers to the process of monitoring, tracking, and influencing the online reputation of your multifamily brand. Healthy ORM practices include analyzing conversations and reviews, identifying issues, and boosting your overall standing.
In the multifamily housing industry, ORM is essential. A negative online reputation can lower occupancy rates and make it difficult to attract tenants, so prioritizing ORM is essential.
ORM Builds Resident Trust
Every renter wants to live in a place that feels safe and trustworthy. By keeping your ORM in check, you’re signaling to prospects and residents alike that your multifamily property is a nice place to live with a credible reputation.
An excellent online image also gives business partners confidence in the quality of your company. Multifamily businesses cannot achieve success with a weak reputation, so make sure you take control of your ORM.
A Good Reputation Increases Visibility
When you stumble upon something awesome, you want to tell everyone about it, right? A great online standing encourages residents to spread the word about your brand across the web, which, in turn, increases the visibility of your company.
Maximizing your ORM gives you enhanced control over your online profiles on social media sites and search engines. Adding attention to this detail places your brand at the forefront of where prospective renters search, resulting in more form fills and phone calls.
ORM Gives You a Competitive Advantage
A positive reputation shows customers that your company cares about their living experience. When residents are respected, they want to renew their leases, refer their friends, and write favorable reviews when they move out.
Monitoring your online image also puts you in an ideal position to respond quickly to negative reviews or virtual attacks, preventing potential PR disasters from harming your business.
Grace Hill Makes ORM Easy
If you want to succeed in the multifamily space, you need a winning ORM strategy. ReputationBuilder is Grace Hill’s answer to online reputation management. With our solution, you receive an all-encompassing snapshot of the following:
- Reviews and sentiment analysis
- Social media activity
- Search ranking analytics
- Competitive benchmarks
- Listing accuracy
With this information all in one place, your multifamily business is empowered to respond to reviews, monitor competitors’ digital efforts, and more.
Managing your online image is a great way to amplify your success over the long run. Request a demo, and we’ll tell you more about how ReputationBuilder can enhance your online reputation.
