RICHARDSON, Texas--(BUSINESS WIRE)--RealPage, Inc. (NASDAQ:RP), a leading global provider of software and data analytics to the real estate industry, is reporting rapid adoption of its Modern Message solution. In the two months since the COVID-19 crisis started to unfold, the properties best equipped to inform, engage and entertain residents are weathering the storm with their reputations and resident loyalty not only intact but rising.
Click here to view a free webcast: “COVID-19: Impact on Resident Engagement.”
Recently acquired by RealPage, Modern Message has been at the forefront of fostering connections among residents and between residents and staff. Now the company finds its technology not just valuable, but vital.
“Properties that engage residents and build a strong sense of community do better in good times and bad,” said John Hinckley, cofounder of Modern Message. “They attract more prospects, retain more residents, build better online reputations and command a premium in their markets. Now, during this crisis, the importance of good connections has reached a whole new level, and I think the impact will be permanent.”
Modern Message’s flagship solution, Community Rewards, is a resident engagement and loyalty platform designed to elevate the resident experience, improve online reputations, and increase loyalty and retention. It incorporates an automated rewards program that incentivizes engagement. This component is what most distinguishes Community Rewards, helping office staff introduce ideas for motivating isolated residents to join online contests, virtual cooking classes and volunteer programs to help the at-risk. Participating residents earn points that can be exchanged for rewards at different venues including Amazon, Target and Best Buy. “You’d be amazed at how powerfully residents respond to even modest rewards,” said Hinckley. “It doesn’t have to cost much.”
Brittany Barclay, a regional manager at Tribridge Residential, said, “It’s pretty simple: the happier and more connected residents are, the less likely they are to leave.” Her property recently offered residents Community Rewards points to attend a virtual art class led by a resident, which included the distribution of canvases to the doors of participants. “There are just so many ways you can leverage this platform to build a stronger sense of community.”
Some properties are inviting residents to submit photos and videos of their often humorous at-home activities. The most recent photo campaign with Community Rewards generated over 22,000 resident photos as part of a $5,000 giveaway. A polling facility helps managers gather valuable information about resident concerns and is also being used for entertaining polls.
All these interactions build resident loyalty and trust, increasing the likelihood that residents will eventually post reviews. And properties with good online reputations close leads at twice the rate of those with poor ones, according to J Turner Research. “The loyalty fostered by Community Rewards encourages all residents, regardless of sentiment, to share their apartment living experience and more people sharing increases digital curb appeal. Modern Message is the #1 generator of reviews by property in the multifamily industry,” said Hinckley.
Community Rewards has also been a powerful tool in driving renewals. Victoria Kirchhoff, Director of Marketing at RPM said, “We’ve been excited to see an increase in people requesting renewals. Last quarter alone we saw about 2,000 of our residents go through Community Rewards to request a renewal of their lease.”
Integrated with all popular property management, payments, marketing, and reputation platforms, Community Rewards will also be combined with RealPage’s ActiveBuilding resident portal and eCommerce platform. According to Hinckley, “Together, this combination will create the most comprehensive and powerful resident-centric platform the industry has ever seen.”
Click here to view a free webcast: “COVID-19: Impact on Resident Engagement.”
About Modern Message
Modern Message, a RealPage company, is the leading resident engagement, loyalty and rewards platform for the residential real estate industry, offering a differentiated engagement suite that drives higher benchmarkable resident engagement and reputation. Modern Message serves over 5,000 communities in 49 states, comprised of more than 1.8 million residents. For more information about Modern Message, please visit https://www.modernmessage.com.
About RealPage
RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency in asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves over 18 million units worldwide from offices in North America, Europe and Asia. For more information about RealPage, please visit https://www.RealPage.com.
