Apartments and multifamily housing services comprise some of the biggest users of the Marchex Digital Call Marketplace and Marchex Call Analytics technologies. To help our customers in the multifamily housing industry better understand the nature of advertising-driven phone calls, and how to effectively optimize business performance around these calls to increase the ROI, the Marchex Institute analyzed a sample from over 10,000 calls across 15 different apartment and multifamily housing businesses for actionable insights. The results that our team discovered clearly display the value of advertising-driven calls to the multifamily housing industry.
70% of inbound calls to apartments and multifamily housing services are being answered by a property agent or leasing professional
Our analysis reveals that that a majority of the callers are reaching a property agent/leasing professional who’s ready to receive business inquiries and provide information about the apartment unit.
47% of inbound calls that reach an agent are potential tenants who are looking for a room
In addition, we found in our analysis that a significant portion of callers who speak with the property agents are, in fact, potential tenants who are actively looking for a new residence.
25% of potential tenants mention lease/contract
A portion of these potential tenants who speak with a property agent also specifically inquire about contracts and leases.
25% of potential tenants book an appointment
Finally, we also saw that a good portion of these potential tenants make appointments on the call with the agents to view the property.
Based on these insights, we propose the following call advertising best practices for apartment and housing marketers:
- Minimize missed business opportunities by implementing an IVR (Interactive Voice Response) system to better filter your inbound calls and ensure that quality calls from potential tenants are being delivered to your property agent.
- In addition to IVR implementation, optimize your voice menu and reduce hold time to ensure that your new potential tenants can conveniently connect to your property agent. As covered in our previous study, reducing hold time can increase your lead conversion by as much as 10%.
If you’d like to learn more about the performance of our call advertising campaigns in multifamily housing industry, please download this study. You can also reach out to the Marchex Institute at 1-800-840-1012, or e-mail us at marchex-institute [at] marchex.com. We love to hear from you!
Business Analyst, Marchex Institute