The Benefits of Geo-Fencing for Apartment Marketing
Among the countless advantages that digital marketing has over traditional media marketing, geo-fencing ranks near the top. Briefly defined, geo-fencing establishes an invisible perimeter (or “fence”) that covers a particular geographic region, allowing digital marketers to specifically target the audience that lies within it. Countless industries and business sectors have benefited from geo-fencing, but its value to marketers within the residential real estate sector cannot be underestimated. Geo-Fencing Explained As the old cliche goes, the three most important criteria for determining real estate desirability are location, location, location. Renters in search of a new apartment almost invariably look within very specific areas and have little interest in properties that lie outside of those areas. Geo-fencing allows you to make the most of your marketing efforts by reaching out to apartment-hunters inside a precise geographic region that you are able to define and alter at will. With geo-fencing, you can program automatic alerts to launch to smartphone users who happen to stray close to your apartment community. Prospective tenants who are using Zillow, Yelp, Pandora, or any other mobile app that supports geo-fencing are instantly identified through technologies such as radio frequency identification (RFID) or the Global Positioning System (GPS) and can receive one or more instant alerts when they enter your targeted area. 3 Key Benefits of Geo-Fencing Unsurprisingly, more and more apartment marketers are employing geo-fencing to specifically target individuals who are most likely to engender conversions and, ultimately, fill property vacancies. The majority of prospective tenants also benefit from geo-fencing. After all, what apartment hunter wouldn’t appreciate a tip or a special offer regarding a great place in an ideal location? Here are just three key advantages of apartment marketing and hunting with geo-fencing: 1. Optimized search operations based on location Real estate websites and online rental databases that employ geo-fencing technology do much of the legwork for apartment hunters by automatically and instantaneously sorting through a nearly infinite number of listings to show only the properties that fall within the parameters of a specific geographic location. In addition to targeting only the most likely future tenants on an individual basis, geo-fencing allows apartment marketers to send them relevant sale suggestions at the most opportune moments. 2. The delivery of key apartment information in real-time In addition to sending relevant listings to a localized audience and vacancy alerts to individuals who are close to your various listings, geo-fencing technology can aid with prompt apartment showings and spur-of-the-moment apartment applications. More generally speaking, it can do wonders when it comes to helping apartment complexes and other real estate organizations build their brand and engage with the most relevant audience possible. After all, why spend the money and energy on an extensive and protracted branding campaign that will reach thousands or even millions of uninterested people? 3. Convenient, value-added apartment hunting assistance Geo-fencing goes a long way toward placing the power to find and obtain the perfect apartment in the palm of any smartphone user’s hand. In addition to optimizing the online apartment hunting process, geo-fencing allows even the least tech-savvy Zillow, Redfin, or Realtor.com users to schedule relevant apartment search alerts that do most of the hunting for them. By setting specific rental interest criteria within a particular geographic area, they can let their favorite real estate app do the work, notifying them of key apartment prospects while they concentrate on career, family, and other important matters. To Learn More If you have any questions about geo-fencing for apartments, contact the real estate marketing leaders at BIGEYE today. The professionals at BIGEYE offer a broad spectrum of marketing services that can benefit anyone in the property rental sector.
Why Digital Marketing Drives Revenue in the Multi-Family Industry
Don’t let your multi-family digital marketing strategy become stagnant, now is your chance to extend them beyond the walls of your complex. The multi-family industry has long used traditional advertising and marketing approaches to drive revenue through local TV, brochures, etc. Yet as the industry changes to adapt to larger societal changes, these legacy approaches need to play a more complementary role. Today, multi-family digital marketing supported by data-driven insights is the best way to reach audiences and create sustainable revenue. How multi-family digital marketing helps cultivate leads and meet occupancy goals What’s driving the multi-family space’s foray into data-powered digital marketing? According to some industry observers, digital marketing is essential in order to help resolve several entrenched business problems. These include diagnosing underperforming properties, identifying gaps in lead management and merchandising specific product types (such as floor plans and unit sizes) on demand. By integrating data analytics into their approach, multifamily operators are able to gain the insight they need to convert leads more effectively and identify inefficiencies and opportunities within specific properties. Decisions supported by real-time data can help managers increase yield and minimize lost opportunities. So how are multi-family operators incorporating these strategies? By mastering the fundamentals: High-quality lead generation, a robust online presence (great UX, compelling content, and tools such as online chatbots) lead forms, and contact centers. Other key developments Multi-family digital marketing tactics need to extend beyond lead management and well-designed websites. Marketers in this space should also give due consideration to the following: Consumer search preferences are evolving. Multifamily operators must stay current on SEO best practices in order to ensure visibility when prospective customers search for properties within their area. This is especially true given the impact of Google Places on organic search placement. Internet Lead Management (ILM) analytics can help property managers gain deeper insight into the lifecycle of a lead and how various channels are performing. ILM analytics can also provide a window into performance on the agent level, as communication can be analyzed to determine what prospects are responding to and what they aren’t. Analytics can also shine a light on whether there is a problem within the lead management process, or the sales process. Data-driven insights can also help optimize revenue management. Property managers can identify upcoming occupancy problems and make adjustments to ensure that rates remain stable. Those adjustments may include ramping up an existing marketing campaign to get additional prospects in the sales pipeline, or hitting pause on a campaign if long-term occupancy projections are higher than previously thought. Property managers can also use digital tools to introduce dynamic pricing, optimizing revenue based on shorter-term demand fluctuations. The takeaway The multi-family property space is quickly modernizing its marketing approach, shifting from traditional TV ads and brochures to sophisticated, data-driven digital marketing. This approach is paying significant dividends in terms of creating more leads, optimizing lead management, and improving revenue management practices. At BIGEYE, we’re experts in multifamily digital marketing — and we’d design a campaign that increases your leads and boosts your bottom line. Contact us today to learn what a top multifamily digital marketing agency can do for you.
In a Digital World, Will a Real Estate Agent Become Obsolete?
With the rapid evolution of technology, jobs that used to require good old-fashioned human attention are now automatic, creating efficiency through high-tech, advanced computer programs. Conspiracy theorists speak of the “rise of the robots,” like something out of the 1990s trilogy The Matrix. Today, searching for a new home can be as simple as a Google search. Key in a few target words, and you can find side-by-side listings, complete with features and price assessments. As such, many people may be left wondering: What is the value of a real estate agent? If sellers can easily put their homes on the market with a few clicks of a button, and buyers can peruse listings from the comfort of their homes, then why invest the time and money to work with a middleman to help broker a deal? Throughout the past decade, the role of a real estate agent has shifted dramatically. Whereas once real estate agents were the primary lifeblood of the industry, with their fingers on the pulse of markets, prices and top investments, many of these traditional functions are no longer necessary due to technological advances. Of course, it’s not that simple. Even in a world where everything is automatic, a good real estate agent offers a goldmine of expertise. Like with any service industry, it pays to have an expert to help. A seasoned expert can help a purchaser navigate the difficult terrain of the home buying process, or can help a seller get the best price for his or her investment. Part professional marketer, part community expert and part customer service representative, the real estate agent must be able to solve problems on the fly and be able to effectively communicate with clients. Notably, many real estate agents and agencies have fallen behind in keeping up with technology. The average age of a real estate agent is 55 years old, meaning that some more mature agents may not be keeping up with the rapid changes in the technological landscape. Therefore, real estate agents who are able to use a variety of services have a distinct advantage over their competitors. Rather then expressing concern about their jobs becoming obsolete, real estate agents should instead leverage new technologies for their own advantage. For example, potential buyers who can see side-by-side listings may not understand the nuances of legal language, discrepancies in prices, or the added value of certain home features. Real estate marketers who strive to keep up with new technologies can better communicate with potential clients. For example, a commercial real estate agent trying to build rapport with a foreign investor may wish to communicate via Skype, as the simulation of face-to-face context offers psychological advantages in terms of positive interactions. Data management tools for realtors can also increase efficiency. Calendar invitations are superior organizational tools to monthly planners, as they easily facilitate email reminders, mapping features and a host of other options. The team here at our Florida advertising agency depends on our real estate agents to advise us when making informed choices about home buying and selling. While some agents may fear their jobs are in jeopardy, we believe that our real estate agents, guided by changes in digital technology, will always be there to offer a personal interaction to help address our real estate needs. In search of new innovations to assist you in your real estate practice or other small business? Contact our team today to learn more!