Return on Engagement: Get Rid of the Shower Curtain!

I had an interesting conversation with Tarla McCann from On-Site the other day, about social media and the impact conversation and reaching out to people can have on your overall brand.  One of the points that her and I were chatting about was measuring the results.  We use often the expression ROI since of course we are looking for those bottom line numbers to always improve in whatever venture we pursue.  That is the ultimate goal.  However there is another part to the equation that helps you get to those magical numbers and that is your ROE—Return on Engagement.

This expression is not something new.  Sarah Evans wrote a nice article last year about how to Measure your ROE.  What we all fight against is our own inhibitions and our fear of what others will think about us.  Posting a blog, making a comment on one, tweeting your opinion, participating in an online discussion groups such as MultifamilyInsiders, #Blogchat and #Aptchat are all ways we expose ourselves and that can be challenging to do.  We are used to having shower curtains, doors to lock and clothes to wear because physically we are afraid to expose ourselves but that also translates to our own emotions and fear of being looked down upon.  Hence we can become lurkers instead of participants.  If you are a lurker that is ok!!! Your being there is so greatly appreciated.  Your support is encouraging to all that are currently comfortable enough to jump into the online space.  It takes baby steps in everything in life in order to feel comfortable with it, but please know that you have an amazing network of professionals who are always there to help.  So take it one step at a time and you will see the value of participating.

Return on Engagement can come in other forms as well.  Think of the other platforms you are using where you want to hear what people are saying.  Some apartment communities felt forced into using apartment review sites and platforms like Yelp simply because there was a fear factor that was initiated as a result of people talking about you and you had little control.  This is where property management companies should be most concerned about their ROE.  It’s your opportunity to capture valuable real estate and that is—people.  Ignoring what people say about you whether it’s good or bad is a waste.  As Geno Church described it, people are the killer app.  The more you make conversation with your residents whether it’s through review sites, Facebook pages, or in your leasing office, the more potential you have to gain valuable ROE and valuable word of mouth marketing.

The challenge from a company standpoint is to let go of those inhibitions.  Take the shower curtain off of your company.  Let your residents see you for what you are! Let them see how much you care about them and how much they mean to you.

How are you leveraging your residents as the killer app?

Written by Jonathan Saar

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