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Positive client experiences help build happier communities

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Better client experiences = higher revenue

 

In community management, the path to happy clients, higher revenue and a competitive advantage from the competition is through providing an exceptional service experience.

At Resvu, our focus is to build a single-platform customer service solution that revolutionises the way that community management companies service their communities.

Empowering the industry to build a better homeowner experience for everyone.

A great client experience is a tool for growth

 

When businesses focus on providing better client service experiences, they can increase their revenues by 4% to 8% compared to their competitors in the same market. So, by offering excellent client support, businesses can make more money and be more successful.

This growth isn’t just a result of superior products or services, it’s about creating promoters — loyal customers who are more likely to buy more, stay longer, and advocate for your services.

Did you know, promoters have a lifetime value that can reach 6 to 14 times that of detractors, depending on the industry.

For community management companies, boosting the service experience to convert lot owners and residents into advocates of your community. Word of mouth is a powerful tool!

Put yourself in your clients shoes

 

A great differentiator of companies that do client experience “well” is they deeply understand their customer. They’re not afraid to challenge the status quo, they’re constantly putting themselves in their clients shoes.

At Resvu, we always question how we’re doing things, and if we could be doing those things better?

Sure, our customer success team has won awards, but that doesn’t mean we are (or our processes) are perfect every time.

With every interaction we have a quick introspective look, and ask ourselves. Are there any opportunities to improve our processes?

While we’re being introspective, if we go way back. We’re talking way, way back, before Resvu was even a thing.

It was just our CEO Tom having to drive all the way across town on a 43c degree day to put up a sign printed on a piece of paper, alerting residents to the pool being out of order.

Without him thinking… “surely there must be a better way” not just for him, but also the residents of the community that were his responsibility. Resvu might not exist!

Experience leaders display deep empathy toward clients’ core needs. Listening to feedback, fixing pain points and hopefully create opportunities for “wow” moments.

A Marathon, Not a Sprint

 

Creating experiences that delight and stand out requires a long term way of thinking.

It’s about committing to continuous improvement, and knowing that it’s the daily interactions that build the service rapport. As well as being aware that trust can be lost with one misstep. So it’s important that your service level is consistently great, not just sometimes great in short bursts.

At Resvu, we understand that genuine, proactive, innovative, and collaborative approaches to service can transform community management. Our platform embodies these principles, offering tools that streamline communication, simplify processes, and enhance transparency—essentials in building trust and loyalty.

  • Streamlined Communication: Our platform cuts inbox clutter in half, facilitating seamless interactions between community managers, boards, and lot owners. This ease of communication is integral in resolving issues swiftly, ensuring every stakeholder feels heard and valued.
  • Proactive Solutions: Resvu empowers community managers with proactive communication tools, enabling them to anticipate needs and address them efficiently. This forward-thinking approach keeps communities not just satisfied but genuinely delighted.
  • Empowering Self-Service: By providing homeowners with the tools to manage everything from maintenance requests to pet applications, Resvu enhances efficiency for both managers and residents, freeing up valuable time.
  • Security: Trust is the foundation of any thriving community. Resvu prioritises data protection, giving both community managers and residents peace of mind that their information is safe and secure.

In the journey towards providing a higher standard of service, community management companies face the challenge of not just meeting but anticipating the evolving needs of their stakeholders. By partnering with Resvu, companies are equipped with the tools, security, and innovative solutions needed to elevate their service, transforming every lot owner and resident into a promoter of their community.

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We Need to Protect our Community Managers

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It’s late Friday afternoon, and Sarah, a dedicated community management professional, is about to wrap up her week. Just as she’s about to shut down her computer, the phone rings. It’s a lot owner, furious about a decision made by the committee—a decision Sarah had no control over. The call quickly escalates, harsh words are thrown, and Sarah is left to absorb the abuse, trying to de-escalate while her own stress levels soar.

Sadly this is a common occurrence in the industry. Community managers, like Sarah, navigate a minefield of emotional labor, often facing undue criticism and blatant disrespect. It’s a massive issue that needs attention.

We need to protect our Community Managers

 

It’s no secret that community managers are busy. These professionals are faced with managing complex tasks, thousands (usually millions) of invested dollars worth of assets, and the massive responsibly of looking after people’s homes. All while being expected to be a phone call away, 24 hours a day, 7 days a week.

It’s absolutely crucial that these people are well looked after, by giving them a safe place to work, not only physically but mentally.

Due to the sensitive nature of some of the topics a community manager deals with, it’s not uncommon that challenging situations arise. And with such a diverse array of stakeholders, respect is a non-negotiable when it comes to communication. Especially to your community manager, who probably has 10,000 other jobs they’re currently dealing with.

The Impact of Job Stress

 

Every job has some degree of stress and Community Managers are no different. Although there are unique pressures community managers face, including juggling multiple communities, dealing with complex legislation, and often being the middleman between conflicting parties. But then there’s also the expectation to be available round-the-clock with instant replies. The lines between work and personal life can blur, leading to extreme burnout, maybe enough burnout for them to exit the industry completely?

The industry is only growing and becoming more complex every day, attracting new talent to the industry is proving to be a challenge. So, we should be protecting these managers, to reduce the risk of even more turnover and industry exits.

Stress manifests as physical exhaustion, mental fatigue, and emotional strain, impacting health and well-being. Which nobody should have to deal with, especially from their job.

Promoting Work-Life Balance & Flexibility

 

Speaking of industry retention, job seekers are placing more emphasis on the importance of work-life balance

“Work-life balance and wellbeing have also increased in importance notably since 2015, with 53% of employees citing them as “very important” compared with 61% of today’s workforce.” (gallup, 2022)

A part of protecting our managers is providing them the freedom to do their job effectively in a way that works for them. Organisations can play a significant role by implementing flexible working arrangements, encouraging time off, and promoting a culture where work-life balance is respected.

Empowering teams with the technology to work in a way that suits them is something the high performing management companies do differently, read more about the topic on this blog post here.

The Role of Organisational Culture & Support Systems

 

Establishing support systems within the workplace, such as mentorship programs, peer support groups, or access to counselling services, can provide community managers with the resources they need to navigate workplace challenges effectively.

But it also must come from the top, with management advocating for their community managers right to expect a standard of respect from stakeholders.

A healthy work environment plays a huge role in community manager wellness. An organisational culture that values transparency, communication, and mutual respect can significantly reduce workplace stress. By creating an environment where community managers feel supported and valued, companies can encourage positive mental health, boost morale, and increase job satisfaction.

Respecting Community Managers and No Tolerance for Abuse

 

The unfair reality of the community management profession often involves dealing with verbal abuse and unreasonable demands from stakeholders. The constant barrage of negativity takes a significant emotional toll, even for the most experienced professionals. The role has a lot of emotional labor involved, and it needs to be made clear that enduring abuse should not part of the job.

Like other public facing roles, there need to be safeguards put in place to protect community managers and reframe the public perception of the role.

Clear policies protect managers and ensure a professional, supportive atmosphere. After all, a managers job is to coordinate everything and everyone required to make communities a better place to live, for everyone.

What are High Performing Management Companies Doing Differently?

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In the fast growing and constantly changing landscape of strata, the past few years have presented unique challenges, driving the need for innovative solutions to navigate the exploding industry.

The 2023 Macquarie Bank Strata Management Benchmarking Report gives us a behind the scenes look into the way Australian Management companies are operating. Exploring the unique traits of high-performers and what they’re doing differently to drive success.

But what is a high performing business?

 

A business is considered high performing based on having strong revenue and profitably growth year-on-year. With this growth comes a better position to thrive into the future, no matter what’s in store. The citera used in the Macquarie report is:

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Growing revenue and profit in FY 2022 vs FY 2021

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Profit margin >20%

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Manage at least 1000 lots

These businesses see benefits across the board, with stronger organic growth, higher revenue per lot and a much higher retention of strata managers.

Surprisingly only 1 in 5 businesses met these criteria.

What makes a high performer, a high performer?

 

But how are they achieving these outcomes? The secrets of their success are hidden in their investments. These high performers are investing higher in areas like tech solutions, their team and business acquisition.

Higher performers are using more tech, and 75% of them are saying they will invest in the next 12 months to improve business performance.

“Higher performers invest more in technology than other businesses, enabling their staff to work remotely and collaborate more easily online.” (Macquarie Bank, 2023 Strata Management Benchmarking Report)

 

Currently, 1 in 6 Australians live in Strata

 

The growth of the industry has been massive, with it doubling in the last 20 years. And it doesn’t look like it’s slowing down any time soon.

With this exponential growth, there’s also been an alarming drop in management company profit margins in recent years. Despite an 84% increase in revenue there has been a crazy 30% decrease in profit margins since 2005.

Staffing cost increases and loss of key staff are two major profitability roadblocks. Reducing the high level of staff turnover in the industry is a massive opportunity to save on costs.

In 2022, 33% of strata managers changed employers – compared to just 14% in 2018.

Staff Turnover is a huge money drain

 

In a (nearly) post pandemic world, hybrid work arrangements and flexibility are a non negotiable when it comes to job satisfaction. This plays a huge part in staff retention, which is one of the highest profitability roadblocks.

Embracing technology can help keep your staff happier

 

The pandemic accelerated the modernisation of operations, with a significant investment in communication tools and IT infrastructure required. This investment led to improved efficiency, connectivity, and flexibility in the industry.

Giving your team access to a flexible working arrangement has so many great outcomes like Improved work-life balance, increased employee satisfaction and morale, higher retention rates, enhanced productivity, access to a wider talent pool, increased diversity and inclusion, boosted employee engagement and improved health and well-being.

Improve staff happiness and profit margins by embracing technology

 

“Technology enables strata to improve efficiency, build connectivity and offer flexibility – something that’s incredibly important in attracting and retaining top talent,” Macquarie Business Banking’s National Head of Strata, Tim MacKenzie.

Technology is key to staff flexibility, efficient workflows and customer engagement.

 

Top ways businesses are fighting staff turnover by increasing team happiness

  • Prioritising staff wellness and happiness has become a priority.
  • Collaborative and supportive business culture
  • Flexibility in their roles regarding how and where they work
  • Ensuring they have adequate tools and training
  • Recognition for contribution Remuneration in line with or ahead of market
  • Development or progression opportunities

Engaged and happy employees lead to a better client outcome.