We are excited to announce two big leaps in the integration of the epIQ Index into our client-side EXCHANGE reporting platform as well as the ApartmentRatings website!
What’s happening on ApartmentRatings?
We have now completed the phased implementation of the epIQ Index Report Card onto all of the community pages, as well as the newly created company pages. Now, renters can easily search and compare prospective communities based on the epIQ Index. In our focus groups, renters from across the country have found the report card and letter grade format to be extremely helpful in determining the level of customer service and satisfaction that they could expect as a new resident.
epIQ Index Reports in EXCHANGE!
In order to increase our clients ability to use epIQ as a performance metric that provides transparent and actionable information, we have introduced detailed epIQ reports within our EXCHANGE platform. The reports allow users to see their overall company and community level epIQ performance as well as a full breakdown of each contributing category. Being able to dig into each “epIQ category” is the key to identifying opportunities, as well as strengths, which then provide for the creation of effective, targeted strategies and behaviors that will improve resident satisfaction & management team efficiency and increase retention & prospect-to-lease conversion rates.
How to use the new epIQ Reports
As seen in the images below, the epIQ Reports in EXCHANGE provide one central location for managers to see all of their communities’ epIQ performance in a single dashboard. Additionally, we provide benchmarks, which represent the average categorical scores for “A” grade communities. These should act as a goal to which all communities should strive to achieve.
For example, if a community has a Mgr. Review Engagement score of only 71.43% and the “A” grade benchmark is 83.19%, they are able to determine how close they are to earning an “A” for that category and can instruct the appropriate team members to respond to any reviews that do not yet have manager responses. And since the epIQ Index is updated daily, any actions that you take today, will be reflected in your reports and on your communities’ ApartmentRatings pages tomorrow! Some of our clients have found this to be an effective way to structure bonus programs and create friendly competitions between their community teams.