customer relationship management...customer relationship management a model for managing a...

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 Residentialtmortera@allresco.com

• Chris Brust, Co‐FounderReLuminous, cbrust@reluminous.com

• Erik Rogers, SVP of OperationsCarmel Partners

@ l terogers@carmelpartners.com

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