The Best Strategy For Staying Ahead Of The Competition
Community management can be a competitive field, especially in hot market areas. For community management teams, one of the biggest challenges after keeping current residents happy and satisfied is staying on top of your competition. When prospective residents are looking for a new place to call home they’re going to weigh out their options. They want to get a feel of all of the local communities to see which best fits their lifestyle and which can offer them the best possible experience. This makes for fierce competition, but community management teams can stay on top in a fairly simple way.
Get To Know Your Competition
The most important thing community management teams can do to stay on top of their competition is to simply get to know them. You can’t get a leg up if you don’t know what you’re getting a leg up on, and you can’t set yourself apart if you’re not aware of what you’re setting yourself apart from. How can you get to know your competition? Focus on their teams, their community, and pricing.
No two community management teams are going to be exactly the same, but there are strategies that work and those that don’t. Getting to know your competition and their teams is a great way to gauge where you stand. How well-trained do team members seem? How do they speak and communicate with prospects? How do they conduct community tours? Whenever possible, find out what you can about how their teams approach interactions and management and use this information to learn where you have room to stand out.
While a community that has a great deal of space for amenities or simply a better location might seem to have the upper hand, you can find ways to stand out against them. Getting to know their community lets you know where your current advantages are and what other advantages you may be able to incorporate into your own neighborhood.
It’s important to keep pricing competitive in community management, but it’s also a place to stand out. If a competitor has similar pricing but no specials or other ways to add value, you know where you can get the advantage. If you’re able, lowering pricing to be just slightly more affordable can also provide an easy way to immediately stand out.
At OccupancySolutions.com we want to help today’s communities to stay competitive in a hot market. To learn more about getting to know your competition, contact us today.