AI-Powered Lead Scoring for Multifamily

Artificial Intelligence (AI) is rapidly changing the way multifamily does business. Learn how LeaseHawk’s AI-powered lead scoring solution can help properties make better marketing decisions and close more leases.
November 5, 2018
News

The Rise of the Machine

The importance of lead scoring and understanding the true value of marketing sources is more important than ever for the multifamily industry. Internet Listing Sites (ILS) tout high call volume; however, on average only 30% of all incoming calls to multifamily properties are prospects. The process of listening to every call generated by an ad source and determining if the call is a viable prospect or not can be a dauntingly manual process.

Enter LeaseHawk, offering its unique LeadScore service to the industry. Their team of analysts track, record and listen to calls to identify caller intent, such as if the caller is a prospective renter. Then, these insights are provided to multifamily property owners and management companies, so they can better manage their marketing spend toward the sources that bring them the most prospects.

LeaseHawk has revolutionized the lead scoring process with the introduction of LeadScore AI. Using artificial intelligence and machine learning to make lead scoring for the multifamily industry faster and smarter than ever. 

Multifamily Lead Scoring Algorithms

The machine learning model behind LeadScore AI was trained by nearly 700,000 (and counting) human-scored phone calls and voicemails from properties nationwide. And over time, the machine is only going to get smarter.

Here’s what makes AI-powered lead scoring better: 

  • Up to 18 caller types can be identified using LeaseHawk’s proprietary AI models for deeper insight in call and voicemail details.
  • AI identifies caller types in minutes with up to 94% confidence with no human oversight required.
  • Faster results are available allowing for prioritization of follow-up activities and the ability to make more nimble marketing decisions.

In addition, the models will be able to detect details such as time duration that each person on the call is speaking, voice tone analysis and volume of each word spoken.

How It Works

Artificial intelligence is a synthesis of machine learning neural networks—check out this article for a deep-dive into the technology. However, to stick with the basics, LeadScore AI simply analyzes call recordings to reveal caller intentions, such as if they are a prospective renter. The insights are then populated into actionable business intelligence reports, so property owners and management companies can know the true value of their advertising spend. 

LeadScore-AI-Diagram

  1. Phone calls are tracked and recorded using toll-free or local telephone numbers. Then, the call recordings are quickly analyzed and transcribed to text.
  2. LeaseHawk’s machine learning models that have been already trained by over 700,000 (and counting) phone calls, analyze the call.
  3. The call is scored as one of eighteen caller types, such as prospect or non-prospect.
  4. Within minutes the call is scored, allowing professionals to prioritize follow-up activities because speed to respond is the key to closing the leasing cycle faster. 

The Future is Now 

LeaseHawk clients have the unique opportunity to be among the first in the industry to leverage AI technology to create a better leasing experience. LeadScore AI is leading the multifamily industry one, giant step closer to improved advertising transparency and giving owners and managers the ability to better manage their marketing spend. Learn five more ways AI will impact the apartment industry in the years to come.

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