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Customer Relationship Management Systems and Business Intelligence
September 23‐25, 2013Turnberry Isle Miami
Chris Brust, dCo‐Founder
ReLuminousSeptember 23‐25, 2013Turnberry Isle Miami
Customer Relationship ManagementCustomer Relationship ManagementA model for managing a company’s interactions with current and futureinteractions with current and future customers. Involves sales, marketing, customer service and supportcustomer service and support.
Business IntelligenceA set of theories methodologiesA set of theories, methodologies, processes, architectures, and technologies that transform raw data into meaningfulthat transform raw data into meaningful and useful information for business purposespurposes.
Business Intelligence Technology Categories
‐Reporting: What happened?
‐Analysis: Why did it happen?
‐Monitoring: What’s happening right now?
‐Prediction: What might happen?
The CRM challenge:The CRM challenge:• Property management systems model the
customer as a dimension of a leasecustomer as a dimension of a lease• Multiple systems provide no holistic view
of the customer through the entireof the customer through the entire relationship lifecycle
• Not a compelling value proposition toNot a compelling value proposition to dramatically change this reality
How do we leverage imperfect or i l t t d t iincomplete customer data in our business intelligence applications to gain insights into customer behavior and make better business decisions?
Step 1: Take inventory of the customer t h i t itouch points you measure in some way... any way.
Step 2: Thoroughly review theStep 2: Thoroughly review the customer touch point data to which
h h hyou have access. Determine which components (fields) of the data might be useful in context of the four BI technology categories.ou tec o ogy catego es
Step 3: Thoroughly profile and vetStep 3: Thoroughly profile and vet the data with system administrators
fto understand imperfections and vulnerabilities.
Step 4: Leverage the data via oneStep 4: Leverage the data via one or more of the BI technologies to
h bimprove the business.
(Step 5: Profit.)(Step 5 o t )
Suggested areas of application:Suggested areas of application:• Customer surveys• Service requests• Make readies• Customer conversation logs• Marketing source dataa et g sou ce data• Craigslist data
Example #1: Customer Move‐in Surveys
Step 1: Identify data source of completed customer surveyscustomer surveys
Step 2: Determine the fields of mainStep 2: Determine the fields of main interest (where there is a clear delineation of a favorable vs. unfavorabledelineation of a favorable vs. unfavorable response). Distinguish the independent vs. the dependent variables.vs. the dependent variables.
Step 3: Thoroughly profile the data.
• Determine if it is skewed in any directiondirection.
• Determine if the data volume andDetermine if the data volume and response rate is sufficient to conduct meaningful analysismeaningful analysis
Step 4: Leverage the data via the BI technologiestechnologies.
• Distribute consolidated reports to• Distribute consolidated reports to stakeholders on survey reports on a regular cadenceregular cadence
• Consolidate survey comments and push to stakeholders on a daily orpush to stakeholders on a daily or weekly basis.
• Perform dimensional analysis to determine trends or relationships indetermine trends or relationships in the data.
• Process the survey data using data• Process the survey data using data mining algorithms to gain deeper insights into relationshipsinsights into relationships
• Perform regression analysis on survey data to understand how thedata to understand how the independent variables drive the dependent variablesdependent variables.
• Based on regression analysis, determine which data points will bedetermine which data points will be monitored in real time on the operations dashboard or – better yet –operations dashboard or better yet performance scorecards.
Tina Mortera,fSVP Performance
Alliance ResidentialSeptember 23‐25, 2013Turnberry Isle Miami
BIBI
MethodologyMethodology• Business objectivesBusiness objectives• Measure
li d d• Policy and Procedure• Operating Platform/ CRM• Publish Data• RecognitionRecognition• Coaching and Adjustment
Commitment & AlignmentCommitment & Alignment
What about the other P’s?
PeoplePeople
l• Financial• MarketS l• Sales
• Service• Risk/Compliance• Risk/Compliance• Customer Feedback• Reputation• Reputation
RecognitionRecognition
Leads vs. Follow‐upsLeads vs. Follow ups
25001400
2000
1000
1200
1000
1500
600
800
500
1000
200
400
00
Follow‐ups vs. TrafficFollow ups vs. Traffic
8002500
600
700
2000
400
500
1000
1500
100
200
300
500
1000
0
100
0
Traffic vs. LeasesTraffic vs. Leases120800
100
600
700
60
80
400
500
20
40
100
200
300
00
100
Appointments to LeasesAppointments to Leases
120
100
120
60
80
# Leases Signed
20
40
# Appointments Set
0Sept 2012
Oct 2012
Nov 2012
Dec 2012
Jan 2013
Feb 2013
March 2013
April 2013
May 2013
June 2013
July 2013
Customer FeedbackCustomer Feedback
• Customer Feedback provides insights on bothCustomer Feedback provides insights on both people and product
• Correlation between overall satisfaction and• Correlation between overall satisfaction and renewal intent
Leasing, maintenance and management teams each have a key role in the resident lifecycleRating Areas Most Highly Correlated with Overall Impression / Satisfaction by Survey Type
Initial Impression Drivers
L i M d Y F l I t t
Move-in Satisfaction Drivers
Cl li f A t tLeasing - Made You Feel Important
Exterior Appearance / Cleanliness
Leasing - Communication
Cleanliness of Apartment
Apartment Features / Finishes
Operation of Equipment / Appliances
Leasing - Professionalism / Courtesy
Leasing - Knowledge
Floor Plan / Design and Layout
Leasing - Apartment Ready at Move-in
Service Request Satisfaction Drivers Resident Satisfaction DriversService Request Satisfaction Drivers
Quality of Work
Maint. - Responsiveness
Resident Satisfaction Drivers
Mgmt. - Overall Satisfaction
Mgmt. - Responsiveness
Maint. - Professionalism / Courtesy
Notification of Completed Work
Cleanliness After Work is Performed
Condition of Apartment
Condition / Cleanliness of Community
Mgmt. - Professionalism / Courtesy
= Maintenance = Management= Leasing
A direct relationship exists between resident satisfaction and stated renewal intent
100%Impact of Satisfaction on Stated Renewal Intent in Alliance Portfolio
88%80%
new
52%40%
60%
kely
to R
en
16%
20%
% L
i
0% 5%16%
0%Poor Fair Average Good Excellent
1,252 of 2,587 of 491 of 112 f 88112 of , f1,383
, f3,490
f1678112 of 881f
463
Service vs. RetentionService vs. Retention
46.28 47.36
40
45
50
31.13
25
30
35
40
10
15
20
25
0
5
Q3 2012 Q4 2012 Q1 2013
Reputationp
• Highly satisfied customers are re‐directed to aHighly satisfied customers are re directed to a ratings/review site
• 33% click through rate• 33% click through rate
Reputationp
Talent Management• CRM for the
Talent ManagementCRM for the Associate Lifecycle
• Ties Performance to• Ties Performance to Goals
CRM: Overview of PlatformMARKETING
P i i d il bilit ILS
CRM: Overview of Platform
• Pricing and availability, ILS syndication, SEO services, Reputation management
LEASING• Tablet application, Lease
Execution, Lead Management, Call Tracking and Analysis
RESIDENT SERVICESRESIDENT SERVICES• Applications, Payments, Utilities,
E‐blasts, Concierge Services, Package Alert
CUSTOMER FEEDBACK:• Unclosed Prospect, Move‐in,
Service Request, Pre‐renewal
ConclusionConclusion• Don’t forget the other P’sDon t forget the other P s• Commitment and Alignment
h k d S• Measure, Benchmark and Score• Data is a powerful driver
Final Thoughts
September 23‐25, 2013Turnberry Isle Miami
Q & A
September 23‐25, 2013Turnberry Isle Miami
For More Information Please Contact:
• Tina Mortera, SVP of Performance, Alliance [email protected]
• Chris Brust, Co‐FounderReLuminous, [email protected]
• Erik Rogers, SVP of OperationsCarmel Partners
#AptRevenue AptRevenue.com
