Category: Multi-Family

Property development marketing with social media can help keep current residents engaged as well as bring in new ones. Learn how with our 10 tips.

Property development marketing should do more than attract new renters; it should also retain loyalty from current tenants. After all, it’s almost universally true that retaining customers costs less than bringing in new ones. Besides, at least some satisfied residents will probably help spread news about the property to their own connections. Social media can provide the perfect platform to keep residents updated and engaged in their property.

Ten multifamily marketing agency tips to use social media to retain residents

People tend to check their social media daily, and even more, they spend quite a bit of time doing it. As an example, average users spend about 40 minutes a day on Facebook, according to Marketing Land. They visit social sites to check up on friends and family, research businesses, and even get their news.

That’s why apartment marketing should include some of these social media retention ideas in their tool kits.

1. Respond to resident messages

Today’s social media users often feel more inclined to message via social media than to pick up a phone and call. Encourage contact via messaging on social pages. In turn, ensure somebody monitors these pages and can provide timely responses.

2. Publicize community events

Community events provide a great way for residents to connect with each other and their property management. Even if the property doesn’t hold its own events, it’s still a good idea to promote events in and around the surrounding community. If the property intends to get a booth at a local festival, for instance, make sure to invite residents to stop by for a free keychain or bottle of water.

3. Hold contests on social media

Contests can generate a lot of excitement and, of course, attract more followers to a property page. Prizes could include local business gift cards. In fact, some local stores and restaurants might even donate gift cards to help promote their own business, and that can reduce the costs of running the contest considerably.

4. Share apartment notices and updates

If the pool’s closed for maintenance or landscaping needs to take care of a fallen tree, share this kind of news on social sites. Since renters may spend more time on social sites than they do looking at their email inbox, this can provide a great way to make sure people know abut it.

5. Provide a community guide

Besides promoting local festivals or other events, keep people engaged by sharing interesting things around the surrounding area. Some topics could include top seafood restaurants or nearby parks and day trips. Even though these kinds of posts won’t directly promote the property, they will help promote the community and help keep residents interested in the property’s content.

6. Share news about residents and staff members

With permission, some residents and onsite staff members might want to share news about having a baby, getting married, winning an award, or even involvement in worthy causes. This will help staff and residents get to know each other, and some people might appreciate the help spreading good news.

7. Share vacancies

Even though this campaign might mostly focus on retention, it can also help generate some word-of-mouth marketing. Some residents may have friends who need an apartment or even want to upgrade to a larger unit. Marketing for property developers can incorporate both acquisition and retention in a very synergistic way.

8. Gather information

Instead of only sending surveys by email, consider using social media to run quick polls get get quick answers. Residents will appreciate having their opinions count, and these polls can provide a simple way to learn which areas need improvement and which upgrades to prioritize.

9. Promote social media pages

Help the property discover the social media pages by mentioning it on new resident materials, the website, and on email communication. Include a quick message to let people know that they can benefit by getting prompt updates about the property, a chance to enter contests, and so on.

10. Post consistently

Countless studies have demonstrated that businesses can keep social site users engaged by posting regularly. Even the algorithms of social sites may tend to favor pages with regular posts and engagement. To make social media an effective part of property development marketing, post at least two or three times a week.

Start by defining goals and making a plan

Any effective multifamily marketing agency will begin by figuring out measurable goals for their social media campaign. An obvious example might include retention rates, overall satisfaction, or word-of-mouth referrals . Then create a plan to develop social posts that help support this goal and ensure somebody will monitor the page for messages. This plan might start with a content calendar, but it needs to have enough built-in flexibility to include urgent updates.

Property development marketing should begin with branding that provides a roadmap for decision making and a consistent branding message for renters.

When many property managers think about branding, an image of a logo generally pops into their heads. Branding includes logos and other graphics; however, that picture should mainly serve as a reminder of all of the other things that the brand message communicates. Ideally, property development marketing should create a logo that represents a brand — and not do it the other way around.

What does a multifamily marketing agency mean by branding?

To precisely define what marketers mean by a brand, it’s often helpful to contrast it with the definition of a logo:

• Logo: A logo refers to a visual image that represents a company. Some of the most recognizable logos in the US include Apple’s apple, McDonald’s yellow arches, and Twitter’s little bird. Without any other information, most people couldn’t guess what those logos represent, but they make sense in context. For instance, Apple’s apple may signify simplicity, and McDonald’s may promote their “golden” arches to symbolize quality. Obviously, Twitter’s little bird represents a “tweet.”
  
• Brand: In contrast to a logo, a brand includes everything people think about a company. They may remember the logo, but for a strong brand, consumers also may think about what the company offers and how they feel about their values, service, and quality. If Apple intends to promise simplicity, then the design of their devices needs to back that up.

Ideally, multifamily complexes or even portfolios of properties should develop a brand before they create a visual representation. Obviously, existing properties may already have an established logo. In this case, the multifamily marketing agency will need to decide if they should redesign their logo or simply work to get people to see it differently within the context of their newly defined brand identity.

Establishing a brand identity for apartment marketing

AM Digital highlighted some statistics that demonstrate the importance of focusing on branding as more than simply having a logo designed:

• Shared values: Out of all consumers, about two-thirds say that they would prefer to patronize businesses with shared values.
  
• Growth: About three out of four of all marketers believe businesses need strong brands to grow.
  
• Identity: About three-fourths of Millennials say they would abandon a brand if it failed to fit with their own identity.

Today’s apartment marketing tends to try to differentiate properties by promoting amenities, location, or in some cases, rent prices. Such positive features as a great location, pet-friendly policies, and high-tech security can factor into brand development. At the same time, features still don’t always add up to the way renters react to a solid brand.

For one thing, property development marketing may need to create a brand for multiple locations or at least, think that’s a possibility in the future. Every property might not have exactly the same locations or even amenities. Also, some properties could focus on different amenities because their target market in some areas may care about some things more than others.

Listing amenities and features can help with the logical decision-making process; however, the brand helps create an emotional relationship that can help differentiate the housing complex from others in the area.

Research Values and Behavior

No apartment marketer should ever assume they know exactly what potential or current renters want. Multifamily Executive said that researching the market frequently gets overlooked by apartment marketers. They suggest having a professional research firm conduct surveys and focus groups to ensure reliable information.

As an example, LMC chooses to brand each property individually, instead of trying to develop one brand identity for every complex. Before they even engage in property development, they hire research firms to make certain they understand renters in the community. In turn, they can use this information for marketing and to help develop their brand message.

Existing properties can take advantage of even more useful research. Instead of only surveying the general community, marketers can learn a lot from the on-site team. Employees work in the complex and probably live nearby. They can also ask for opinions from current residents to find out what they like or would prefer to change about the complex.

Develop a Brand Messaging Strategy

After figuring out the most important things that would draw a prospective renter and retain a current one, it’s important to craft a messaging strategy to communicate it. Most important, this message needs to differentiate the property from other choices in the community.

For some examples:

• Student housing marketing may focus on the benefits that student housing has over typical housing in the same area. Perhaps student apartments offer flexible leases, appropriate furnishings, study areas, and even an opportunity to socialize with other students. A multifamily brand for students may want to emphasize these features.
  
• A high-end apartment might want to focus upon the superior services that can help busy professionals save time over living in an average apartment or even owning a home. For doctors, lawyers, accountants, and other professionals, saving time may be more important than saving a few dollars on rent by moving down the street.

Create a Brand Identity to Reflect the Brand Message

At this point, multifamily marketers may want to develop logos or consider adjusting old ones. With apartments, it’s important to ensure that the graphics look as good and distinctive on business cards and brochures as they appear on large street signs. Naturally, the graphics, colors, and other elements used on logos and signs matter.

Still, apartment complexes also need to ensure that everything they do reflects their brand image. As a simple example, student housing will probably do fine with a relaxed dress code, so that kind of housing might let employees wear jeans and sporty T-shirts. On the other hand, a luxury apartment building might want to require at least business casual clothes for office staff and provide uniforms for maintenance workers.

Promote the Apartment Marketing Brand Strategy

Again, business cards, signs, and other vehicles to display the logo will provide part of the marketing. Beyond that, marketers should look into social media, paid ads, and even press releases to let people know why they’re different and of course, better than the competition. Promotions should still mention amenities and features, but they should incorporate those into their overall brand message.

Why focus upon multifamily branding

Mostly, defining a brand helps businesses ensure that customers have the intended reaction to all touchpoints. These encounters with the brand could range from street signs and paid ads to an online bill-paying system or prompt maintenance calls. The brand doesn’t just evoke a reaction from future or current renters but also provides a roadmap that multifamily property managers can base decisions upon.

Multifamily marketing should understand both market and marketing distribution to solve renter pain points and attract qualified renters.

In marketing, a pain point refers to a problem that businesses can provide a solution for. A multifamily marketing agency can benefit by understanding their potential customers very well. They can learn about the issues that might motivate people to move from their current housing or choose one apartment community over another one. By communicating solutions to these pain points, apartment marketing can make sure that people find their message and pay attention to it.

What pain points can a multifamily marketing agency address?

For established complexes or property development marketing, consider these common renter pain points:

Outdated tech

Apartment marketers can scratch off a lot of a modern renter’s boxes with the right tech. For instance:

• According to the Rental Housing Journal, younger adults look for such features as smart thermostats and security systems that can help them manage electric bills and protect their home. Renters want to save money and feel safe.
• While new developments probably already have a design that includes good mobile and Wi-Fi reception, some older buildings may have dead zones. These days, everybody expects to have good mobile and Wi-Fi.

Technical solutions can also make it easy and convenient for renters to pay bills, manage serve request online, and even sign their leases. Some of these products allow renters to login and handle their business 24/7 and even send out automated email or text alerts alerts. They can also interface with accounting and rental management systems to ease the property manager’s workload.

Apartment location

Renters will want to know more about the location of any apartment community they’re considering. For instance, commuters may desire easy access to public transportation and freeways. Parents will want to know how close they are to neighborhood schools. In some cases, a location near shopping, restaurants, and entertainment may help attract people. Either way, it’s a good idea to highlight any positive aspects of the complex’s location on the apartment’s website, blog, and social media. 

Apartment amenities

Today’s renters will generally expect certain amenities, so it’s a good idea to use these as a selling point. The Rental Housing Journal mentioned that many Millennials have gotten married and started to have children, so they might prefer such family-friendly features as a playground, pool, sidewalks, pet-friendly policy, dog park, and bike stand. Renters without children may enjoy some of these amenities as well.

In particular, younger adults tend to prefer patronizing eco-friendly businesses, and landlords should emphasize features like smart thermostats, low-flow faucets, and any other environmentally friendly amenities. Very often, these eco-friendly features can also help save money, which helps address another potential pain point.

Timing property development marketing

For projects in development or undergoing remodeling, pre-development marketing can provide investors with great returns. Not only can they potentially run specials to lease units before they’re even completed, they can use the opportunity to gain valuable information about potential tenants.

As an example, one marketing style may not appeal to every kind of tenant or even every community. By starting early, it’s possible to ensure that social posts, websites, and other marketing materials are prompting the right kind of prospects to schedule visits and complete application forms. Learning to target the best prospects can help improve marketing returns and save property managers a lot of time.

Also, it’s important to time messages well. If a qualified prospect didn’t end up leasing, consider sending an automated message in about 11 months, shortly before their current lease gets ready to expire. It’s possible that the apartment they rented did not satisfy their expectations or doesn’t meet current needs. At least, they’re already familiar with the property, so they’re more like warm prospects than cold ones.

Creative problem-solving for apartment marketing

Moving’s always a hassle, so some apartments offer some creative specials to make the move as convenient and attractive as possible. Some fairly inexpensive examples could include free truck rental, move-in boxes, and of course, pizza. Partner with moving companies, daycare, storage companies, and maid services to offer discounts on moving, childcare during the move, storage, and getting their old place cleaned up. Some of these other companies may work out a deal to share promotions, which can help expand the audience for both the apartment and the service.

Distributing marketing for property developers

Of course, no amount of reducing pain points will help if potential renters don’t see it. It’s a good idea to keep up an active social presence on local groups. Tailor website pages and blog pages to address various needs that renters might look for and make sure to optimize them to get found by search engines. If a prospect searches for easy ways to move to your locality, make sure they can find the complex’s specials for free or discounted moving trucks. In that way, apartment marketing can let renters know that the complex can offer a better experience than they may have even expected.