SoftwareAdvice.com recently sent out a survey to learn more about how property managers are using technology in their business.
A few interesting highlights:
1. Almost half of the companies surveyed grew their business last year – either growing by increased revenue or more units. This is great to hear in a struggling market! But how did they do it? The companies that grew made use of technology – over 60% used property management specific software.
2. The survey also found that companies who used property management specific software managed an average of 102 units per employee, this is compared with those who use spreadsheets or more generic software – they averaged 61 units per employee. The SoftwareAdvice team believes this is because investing in technology enables business growth.
3. Although there is so much talk about Facebook and Twitter, there was no concrete evidence from the survey showing that businesses who engaged in social media tactics really had more growth. I think this is for a variety of reasons – the property management industry (and many others too!) is still building knowledge and learning about how best to use social media to engage with prospects and customers. Using social media tools like Facebook and Twitter is first about building loyalty and communicating with your existing customer base so it will always be hard to track the effectiveness with solid Return On Investment (ROI) numbers. It is like getting a referral from a few happy customers…you know they drive your business but this lead channel is always difficult to quantify.
For the complete survey, click here.