One of the most important goals of a community or property management company is to effectively balance resident satisfaction with operational efficiency. As companies continue to invest much time in delivering a good resident experience, they also need ways to measure the efforts undertaken. Take a look at some suggested ways to measure efforts in a qualitative (descriptive) and quantitative (numerical/statistical) manner.
1) Net Promoter Score
The Net Promoter Score is a quantitative measure of how likely a customer/resident is to recommend you to their friends or peers. The NPS is a number scale from 1-10 with the largest number representing the highest level of satisfaction. The smallest number represents the lowest level of satisfaction. Calculate NPS by subtracting the number of negative scores from the number of promoters or positive-scoring customers. The greater the difference, the better the customer rating is. This helps you to identify happy residents or unhappy residents that might speak on an online platform negatively about your service. Management can get this information by including a link to a survey with the ten-point scale at the bottom of your email signature or by sending a special email to your residents, asking for their feedback.
2) Resident Sentiment
Resident sentiment is a qualitative measurement of how a resident feels about the management company. It’s also about a resident’s perception about the management company and the quality of service they receive. You can gain a better understanding of resident sentiment by speaking to residents one-on-one or through the email correspondences between the management and the resident.
3) Case Resolution Length
How long does it take to complete a case on average? The time it takes a customer service representative or community manage to resolve a case indicates operational efficiency. This is an important measure to trend across time. Did you close resident cases faster this month than last month? What changed? Perhaps your website administrator added more content to the website, making it easier for residents to find what they need. Asking these questions will help identify successes that managers can replicate or gaps they need to review.
4) # of Cases Resolved Per Month & Resolution Rate
How many resident cases did the staff open per month and how many of them do they resolve by the end of the month? The resolution rate is another quantitative measure of efficiency. Here’s how to calculate it:
# of Cases Resolved Per Month / # of Cases Received That Month
It’s an ongoing process
Measuring resident experience is an ongoing project that involves evaluating a number of factors such as resident sentiment and management efficiency in resolving resident requests, as described above. It also involves a strong commitment to enhancing community operations that reflect the best interests of your residents. In the early phases, monitor your resident experience activities on a weekly or monthly basis. Once you’ve identified which customer service activities are bringing positive results and which need to be revisited for improvements, your management company or association is in a better position to cultivate a community of happier residents, and at the same time, improve operational efficiency.
Pilera Software is the premier community and property management suite that has helped thousands of community managers and back-office personnel enhance communications, improve customer service, and manage compliance and operations. May we help your community achieve these success stories? Book a demo to see how Pilera’s community management suite can help your company.