There’s certainly no question that increased productivity equates to more efficient output. This is the most obvious way through which productivity can improve customer acquisition rate. But there are also a number of other ways that productivity can be linked to new client interest in your property management firm.
Encouraging feedback from customers and truly listening to what they have to say plays a big role in the relationship between productivity and increased profitability. Understanding what your customers want, need and expect from you can help you streamline your business to become more productive and better meet those needs. Not only does this boost satisfaction and loyalty among existing customers, but it also leads to an increase in the acquisition of new clients.
Boost the productivity of your property management business with The Property Manager’s Guide to Maximizing Productivity.
In our previous topics we’ve discussed how productivity plays a pivotal role in employee satisfaction and loyalty. Workers who are more productive tend to take more pride in their jobs. Furthermore, research has shown that happy employees are much more likely to recommend the organization they work for to others. It stands to reason, therefore, that increased productivity, which leads to a more positive work environment, can ultimately result in an increase in new customer activity.
Enhanced productivity also naturally leads to improved customer service and retention. Because work is being completed in a much more efficient manner, clients will receive a better overall experience and higher level of service than they would receive from a less efficient operation. By providing your customers with better quality service you greatly increase the likelihood of repeat business. And because research shows that a satisfied customer will tell anywhere from 3 to 9 people about their good experience, your word of mouth marketing will improve as well.
So how does one achieve a higher level of productivity that will get these results? There are a number of ways, many of which do not require a large capital investment. For instance, you can employ simple strategies such as:
- Implementing better training and support functions
- Reducing or eliminating common workplace interruptions
- Creating a communication platform amongst your staff, board members, unit owners and residents
- Streamlining operational processes
- Delivering accurate real time information to users across your organization 24/7/365
- Establishing a knowledge base infrastructure within your organization
By putting these techniques to work for your organization, you can significantly improve the output of your workforce. The resulting increase in productivity will then have a trickle-down affect whereby it will enhance the work experience for your employees, increase customer satisfaction and subsequently improve the rate with which you acquire new clients.
Find out what more you can do to boost the productivity of your property management business. Download a free copy of The Property Manager’s Guide to Maximizing Productivity.