Power of Persuasion
When it comes to apartment leasing, the ability to persuade goes a long way.
Apartment management consultant Lisa Trosien demonstrated how to create a “desire to buy” in prospective residents during “The Power of Persuasion: Improving Your Personal Influence” at the 2017 NAA Education Conference & Exposition in June in Atlanta.
She explained how conversion rates are given a boost with subtle, strong and even self-generated applications.
Limited Edition. People love anything that is described as “limited edition,” so if you are using special offers, make sure prospective residents know that they won’t last forever.
Just Ask. Always ask for an appointment. “Don’t simply say to prospects, ‘Come back any time,’ she says. “Demonstrate how busy your leasing office is by offering a specific time for them to come back in.”
A Good Fit. Self-persuasion tactics can be effective.
“When residents fill out a guest card, ask them, ‘What makes this apartment a good fit for you?’ or ‘What’s your favorite thing about this apartment,” she says. “This way, they are convincing themselves that they should live there.”
Operators Standing By. Though easily ridiculed, late-night infomercials also offer great examples on how to persuade consumers, Trosien says.
“You’ll hear all the usual ‘Buy Now’ selling lines, but in one case, the producer made just a slight nuance and it paid off,” Trosien says. “At commercial’s end, the pitch included ‘If the phones are busy, please call again.’ By suggesting that many were calling, the telephone volume spiked,” Trosien says.
Fonts and Logos. Building trust can start with the choice of font used on collateral. Baskerville is regarded as the font that is most trustworthy. And, simple logo or lettering adjustments can make a difference. Heineken wanted to expand its consumer base by appealing to females, so it slanted its “e” upward, making it appear the letter was smiling.
Lining Up. When showing floor plan diagrams, make sure they are drawn with thick lines.
“Looking at drawings of the exact same floor plan, residents believe that the apartment drawn with thicker lines stands for a sturdier and more substantial building,” Trosien says. “The one drawn with thin lines, they said, indicates flimsy construction.”
Social Proof. Do anything to indicate that the product is in great demand, she says. Called “Social Proof,” it’s the latest phrase in marketing jargon. For example, when Red Bull first hit the market, consumers did not know what it was. So the makers placed empty cans of it on bar counters and at the top of neighborhood trash cans to show that it was a popular beverage that a lot of people were drinking.
Costs You Nothing. Present any no-cost extras (such as waiving the application fee) to the resident at the beginning of the negotiation. “This adds value in their minds,” Trosien says.
Weren’t able to join us in Atlanta or want to review your favorite session? Visit NAA Education Institute REWIND program for the 2017 NAA Education Conference & Exposition to purchase the collection of 50+ PowerPoint-synced audio sessions.