As a multifamily marketer, you have an untapped potential in your bank of leads that have become dormant over time. This is not a missed opportunity but rather an opportunity waiting to be converted into a valuable resource that can result in scheduled tours and potential new residents.
Although the process of reactivating dormant prospects to get them to schedule a tour can be a time-consuming task, with the help of Journey AI Drips, it doesn’t have to be.
In this blog, we’ll delve into the reasons why prospects become inactive and explore how Journey AI Drips can help you win them back and turn them into valuable residents.
Few Reasons why Prospect may become Inactive
- Location and Commute: Prospects may have found the location inconvenient last year, but if their commute situation has changed, they may consider the community again.
- Financial Constraints: Prospects may have liked the community but found it too expensive. They might return if their financial situation improves next year.
- Unavailability of Unit or Floorplan: Prospects can become inactive if they are waiting for a specific unit or floorplan that’s not available. They may delay their decision, but if it becomes available later, they may reactivate their interest.
To revive these dormant prospects, it is essential for the property team to have an effective win-back strategy.
How does Journey AI Drips help you Winback your Dormant Leads?
Dormant leads represent potential revenue that has not yet been tapped into. According to research, it can be up to 5 times more expensive to acquire a new customer than to retain an existing one. In this case, the dormant prospects are already paid for and available in the pipeline. Unlike other lead nurturing tools that may discard leads that have become dormant, Hyly.AI‘s Journey AI Drips sees the potential in these leads and helps reactivate the dormant prospects.
Take a look at what Jim Morgan, Sr. Digital Marketing Specialist at Toll Brothers, had to say about their experience with Journey AI Drips’ Winback campaign:
By using Journey AI Drips, you can effectively warm up your cold leads and ensure that your property stays top-of-mind when prospects are ready to start looking for another place to rent, typically after 9 months, when their lease is about to expire. This is the perfect time to educate and engage with dormant prospects who have already shown interest, resulting in more scheduled tours and increased sales-ready leads.
“We Miss You” Email
According to a report, 82% of marketers think that using personalization in email marketing produces an increase in open rates, whilst 75% believe it produces higher click-through rates.
Journey AI Drips leverages this fact by initiating its “we miss you” email, which features a personalized subject line. The aim is to elicit an emotional response from the dormant prospect and jog their memory about their initial interest in the property.
This email also serves as a subtle call to action to encourage them to take action and engage by visiting the property website or by directly scheduling a tour.
To discover more tips, tricks, and facts about crafting subject lines that will entice prospects to open your emails, click here.
The Amenities email of Journey AI Drips’ winback campaign serves as a reminder to dormant prospects about the property’s state-of-the-art amenities that they may have forgotten.
It’s a great opportunity for the property to showcase its amenities and stand out from the competition. Additionally, it’s an ideal chance to inform prospects about any new amenities added since the last time they checked the property. This refresher can help prospects envision themselves living in a comfortable and convenient space with all the amenities they need.
When choosing a rental property, the features of the apartment home play a vital role in the decision-making process. The “Features email” of Journey AI Drips’ winback campaign aims to remind dormant prospects of what the property’s apartment homes have to offer.
This email highlights unique features such as spacious living areas, modern appliances, or smart home technology, giving prospects a refresher about the selling points of the apartment home.
It’s also an opportunity to inform them about any new additions to the apartment features since they last checked. For prospects, this email provides valuable information that can help them determine whether the apartment home is the right fit for them.
The neighborhood email of Journey AI Drips’ winback campaign offers valuable information about the surrounding area, such as nearby restaurants, shopping centers, and schools.
It provides prospects with an opportunity to learn more about the community and its advantages, making it easier for them to visualize themselves living in the area.
Understanding the local neighborhood is a crucial factor in a prospect’s decision-making process when it comes to choosing a rental property. By showcasing the neighborhood’s benefits, the property can remind the prospect why it’s the perfect fit for their lifestyle.
How to View Reports and Extract Valuable Insights?
The Reports feature of Journey AI Drips provides you with valuable insights into the behavior and interests of your dormant prospects.
By tracking the engagement levels and response rates of your winback campaigns, you can identify what works and what doesn’t. This data can then be used to optimize future campaigns and ultimately increase the chances of winning back these prospects.
To access the reports, simply click on the Winback Drip you want to check. The Reports provide a comprehensive overview of your campaign’s performance in three panels.
The first panel, “Overview,” gives a bar chart of Unique Opens and Unique Clicks, giving an overview of the entire campaign’s performance.
The second panel, “Drill Down By Emails,” provides detailed information on each email’s performance.
Lastly, the “Breakdown by Emails” panel presents the same email report in tabular form for easy reference.
To keep track of your Winback Drip performance, Journey AI Drips offers four crucial metrics that you should closely monitor:
- Unique Open Rate: This metric tells you how many dormant prospects actually opened your email and were interested in what you had to say.
- Unique Click Rate: This metric shows how many dormant prospects clicked on a link in your email, indicating a higher level of engagement with your content.
- Unsubscribes: This metric tells you how many dormant prospects have chosen to opt out of future emails, allowing you to adjust your messaging accordingly.
- Bounce Rate: This metric reveals how many emails were undeliverable, giving you the opportunity to clean up your email list and ensure that your messages are getting to the right people.
Armed with this knowledge, you can make data-driven decisions and tweak your campaign in the future to improve its overall effectiveness in reactivating dormant prospects.
Hyly.AI‘s Journey AI Drips is a valuable tool for multifamily marketers looking to reactivate their dormant prospects.
Its customizable email campaigns, optimized community showcasing, and clear calls-to-action are designed to re-engage and convert cold leads into active ones. With its detailed reports and CRM integration, Journey AI Drips can streamline the winback process while reducing agent workload.
If you’re interested in seeing how Journey AI Drips can help you reactivate your dormant prospects and get more tours scheduled, schedule a demo today!