#1 - Strengthen Customer Retention

We’re counting down the top 10 ways that a thoughtful, well-planned gifts program helps build strong, lasting relationships with residents.
Here’s #1: Gifts strengthen customer retention.

It is a well-known fact that it costs more to recruit new tenants than to retain existing ones. Occupancy rates are the make-or-break figure of our industry. When we have a stable population of contented residents, we create a self-fulfilling cycle where satisfaction fuels retention and retention fuels satisfaction. Low turnover and high occupancy make for solid community building and, in turn, for outstanding bottom lines.  A solid gift program can be a major driver of customer retention. No, a gift – no matter how well thought out – is not the reason a resident sticks around. But the care and the commitment that that gift symbolizes makes apartments into homes and residents into community members. Gifts are small gestures, but they’re also powerful ones.

Pictured: Best Life Key Holder