The power of online reviews
Everyone knows that consumers rely on online reviews and ratings when researching and choosing products and services – and apartments are no exception.
These results from the BrightLocal’s 2018 Local Consumer Review Survey really drive home the relationship between reputation as represented in online reviews, and the powerful influence they have on consumer choices:
- 86% of consumers read reviews for local businesses.
- Consumers read fewer than 10 reviews before forming an opinion about a business.
- 91% of consumers trust online reviews as much as a personal recommendation.
People are talking
Effective reputation management requires that you monitor − and participate in − online conversations. You probably have a Facebook page for your properties, and you may have someone assigned to read posts and comments.
However, in competitive multifamily markets where properties compete for renters, it is vital that you know where renters and potential renters are talking online about their experiences with your property. These are conversations you need to be a part of.
Binary Fountain surveyed 41,000 reviews, and here’s how review site traffic breaks out:
- Google 50%
- Apartment Ratings 18.4%
- Facebook 13.4%
- Apartments.com 13.2%
Top site tips
Here are some ways to get started with monitoring and managing your property’s online reputation on the top sites.
- Google My Business – According to Google Trends, “apartments near me” is the 22nd most popular “near me” search. That means your Google My Business page could easily be the first thing a potential renter sees about your property in their online apartment search. Google My Business offers helpful information on how to claim and update your page, starting here.
- Apartment Ratings – ApartmentRatings.com claims to be “the Internet’s most comprehensive forum for renters nationwide to share renting experiences and opinions.” The site has a process for becoming a “verified property manager” so you can track reviews, and craft appropriate responses to renter review posts. Here’s where to start.
- Facebook – If you monitor and manage your property’s Facebook pages, you know people don’t hesitate to offer their opinion. You can respond, diplomatically and appropriately, and that can help improve your credibility with potential. If a post is wildly inappropriate, you can request Facebook to review the comment. Here’s more on Facebook Community Standards.
Interested in learning more? Check out our comprehensive guide to multifamily reputation management, which will give you how-to instructions on managing your online reviews. Download here to access.
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