‘How Property Managers Use Net Promoter Scores to Predict Business Growth and Review Customer Experience?’
Real Estate Property Managers are leveraging new SMS technology to learn more about how their customers perceive their service offering and gain the ability to predict business growth over the medium term.
Surveying Can Be Difficult
Traditional methods of surveying customers has been cumbersome and inconvenient to the people who’s opinion, thus Property Managers really want to obtain.
What That Means to Property Managers?
Without getting the feedback a Property Manager needs to improve, because of poor methodologies, most Agencies are operating in a void, unsure if they are ahead, or behind the competition. That’s why the leading Property Managers in Australia are turning to Net Promoter Score (NPS) methodology to get a clear picture of where they are at.
What is Net Promoter Score?
NPS is an International matrix that provides the core measurement for customer experience programs.
How is Net Promoter Score Calculated?
Calculate your businesses NPS using the answer to the following one key question: “On a scale of 1 – 10 how likely is it you would refer (Insert brand name) to a friend or colleague”.
The Correlation Between NPS and Business Growth
The main attraction to using NPS surveys within your Real Estate Practise is due to the proven strong correlation between high NPS and future business growth, and thus increased business profitability.
The higher the average of your NPS the stronger the correlation for future business growth and profitability. Conversely the lower the average NPS the less likely is your Real Estate Practise going to achieve future business growth, with profitability most likely to decline.
How Colliers Use Net Promoter Score?
One significant Canadian Real Estate Company – Colliers – uses NPS to measure client satisfaction with their dealings with Colliers employees. Those employees with the highest average NPS are acknowledged on the company’s website and remunerated accordingly. Can your business afford not to be monitoring your NPS?
How to Deliver NPS Questionnaires Efficiently?
SMS communication is the quickest and most effective way Property Managers can send NPS questionnaires to their client base. It is important to note here that all NPS received back from individual customers can be matched to the individual customers mobile number, therefore allowing you to identify the score each customer has given you. Further to this, each SMS reply can be then on forwarded to an email address to centralise the collation of replies, and then action any further follow up if required, depending upon the reply score.
Any score less than 6 /10 may require the senior property manager to call the tenant / landlord to discuss the reason for such a low score.
Net Promoter Score in Your Property Management Toolkit
If you wish to grow your Property Management business, then contact Justin Cardillo at IntelliSMS on 1300 015 013 (option 1) or his mobile 0468 884 606