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.

Want Effective Property Management Marketing? Mind your P’s & C’s

Didn’t grandma ever tell you to mind your own business? Now it’s time to shift focus to the P’s & C’s of property management social media marketing.

Social media moves fast — so it’s critical to stay up to date with the most innovative new ideas. The recent Multifamily Social Media Summit gave property management professionals the perfect opportunity to exchange such ideas and ruminate on the state of property management social media marketing.
If you weren’t able to travel to Napa Valley to attend the conference, don’t worry — we’ll take a seep dive to highlight all the most intriguing ideas.

Avoiding the “deadly four Ps”

Have you ever noticed that brands within some industries handle their social media with much more skill than brands in others? Part of this has to do with the nature of the business — it’s hard to make industrial supplies compelling, for example.

Property management falls somewhere in the middle of this spectrum. Yet this isn’t necessarily a bad thing. For property management firms that get social media right, it’s a chance to become highly differentiated within their market.

One of the easiest ways to get it right is to prioritize storytelling. Let’s face it: Most people don’t care about the “deadly four P’s,” as marketer Steve Crescenzo refers to them: Policies, programs, products and procedures. What do they care about? According to Crescenzo, the “four Cs” — compelling, creative, concise and conversational content.

Partner with a property management social media marketing firm to present your content in the form of a narrative, rather than a dry report where you’re simply pushing out information, and you’ll keep your audience from tuning out.

Higher impact on a lower budget

Every marketer has heard it repeated ad nauseam: Video is critical to your success. More video content is now being uploaded every 30 days than all the content the broadcast TV networks have ever created. Additionally, audiences report deeper engagement with video content.

Unfortunately, video does present challenges. Many brands don’t have the time or the budget to create high-level video content on a consistent basis. However, there is a simple solution — the use of short animated videos. These videos are high impact and relatively inexpensive to produce.

By partnering with the right property management social media-marketing agency, multifamily businesses can reap the benefits of video marketing within their social efforts without deploying excessive resources.

An influential marketing approach

Influencer marketing isn’t new or novel, but it’s just now gaining traction within the multifamily space. By joining forces with an influencer, brands gain access to highly engaged users and receive an endorsement that carries more weight than traditional online marketing messages. The best influencers combine the weight and value of a word of mouth recommendation with the reach of digital.

Some multifamily properties are taking this strategy to the next level by offering free or discounted living space to partnered influencers. These influencers agree to share their living experiences within the community on social media in exchange for this consideration.

While partnering with influencers does require some due diligence and careful guidelines in terms of how content is presented, it’s a strategy that makes sense for multifamilies seeking to improve engagement and grow their social media audience.

The takeaway

If you’re seeking help with property management social media marketing, don’t wait to call our property team today. We’ve got the multifamily expertise, creative talent, and digital skills to help you creative a marketing campaign that creates interest, generates revenue, and increases occupancy.

Senior Living Communities Connect with Baby Boomers Through Digital

A senior living marketing agency can assist you in the battle of understanding your audience to enhance one of the largest assets of your marketing plan.

The Baby Boomers created the counterculture — and our modern conception of youth culture along with it. One of the generation’s biggest bands, The Who, memorably sang the line “I hope I die before I get old.”
Yet age comes for us all. Though many Baby Boomers may hate to admit it, they are squarely in their Golden Years — and many of them are now exploring senior living, often with the help of their Gen X children.

So how do senior living facilities market to the demographic that invented youth culture? Certainly not the way they marketed to the parents of Boomers, a generation with vastly different lived experiences. Partnering with the right senior living marketing agency can help brands meet this challenge, and craft a marketing plan designed to resonate with the Woodstock generation.

Why Baby Boomers view senior living through a different prism

There are two reasons why senior living communities need to recalibrate their digital marketing efforts for Baby Boomers. First, this generation has a much different conception of retirement and aging. The notion of 40 years, a gold watch and a quiet life playing shuffleboard hold no attraction. Baby Boomers don’t believe they are “old” in the same way their parents’ generation was — even if the calendar says otherwise.

The second reason: This self-conception is backed up by a profoundly important trend. Thanks to advances in medicine and a cultural shift toward health and wellness, people are not only living longer but staying youthful and vibrant even into their later years. In 1980, a 70-year-old was often prematurely aged by a lifetime of red meat, smoking, drinking, and minimal exercise. Today’s 70-year-old is often well-preserved by a healthy lifestyle supported by advances in modern medicine.

How senior living communities can reach this demographic

In order to effectively market senior living communities, it’s important to keep a few important ideas in mind:

  • Despite the popular misconception, Baby Boomers are not anti-technology, afraid of technology or hopelessly inept when using technology. Baby Boomers invented the Internet and the World Wide Web; they outspend millennials almost two to one on online purchases.
  • Baby Boomers spend 27 hours each week online. Roughly 82% of them have at least one social media account. In other words, they are a perfect audience for digital marketing and social media marketing.
  • Baby Boomers seeking to make an informed decision about which senior community to choose will typically turn to social media reviews and testimonial videos to get their search process started.
  • When designing a marketing campaign, senior living marketing agencies should help you stress the elements that appeal to Baby Boomers. Recreational facilities, onsite enrichment classes, yoga, culinary offerings, group excursions, property amenities — all of these things should play a central role in any digital campaign. Baby Boomers want vibrant, healthy, stimulating communities and marketing messages should reflect this.
  • Baby Boomers and their Gen X children want to make the most informed decisions possible about senior living. One of the best ways to approach this is through social media storytelling. Have existing residents tell their own stories about living onsite and share these across all social channels.
  • Make sure you have accessible health data: Rate of falls, hospital readmission rates, etc. Prospective clients will ask for it.

Finding the right digital marketing agency

In order to connect with Baby Boomers, you need to choose the right senior living marketing agency — one that has demonstrated expertise marketing within this niche.

Our team has the digital tools — and the expertise — to help you appeal to Baby Boomers. Contact us today to learn what a creatively compelling digital marketing campaign can do for you.

Geofencing is here & will revolutionize real estate marketing

Update, November 2019:

Geofencing for Real Estate Marketing: Three Techniques for 2019 and Beyond

We hope you found our geofencing post informative. To help you put what you’ve learned into practice, let’s drill down to some specific geofencing techniques you can use to generate real estate leads.

  • Build geofences around local banks and mortgage lenders. You’ve heard the old joke that “criminals rob banks because that’s where the money is?” The same logic can be applied to leads; people who filter in and out of banks and brokerages are the perfect target for real estate marketers. If you’re looking for people who are motivated, you can’t find more promising locations.
  • Geofence around real estate developments offering new construction. Again, this is an excellent technique for serving ads to people who have extremely high interest and intent — you just need to shift that interest away from the site they are visiting and toward your own properties.
  • Geofence individual homes for sale. This technique might not generate the foot traffic the other two approaches do, but it is even more highly targeted. People visit banks and new developments for lots of reasons — but they generally only tour an open house if they are an interested buyer (or nosy neighbor).

Why Geofencing is Poised to Become Even More important

While geofencing is a great method for generating more and better leads today, the future is even more exciting. The looming introduction of 5G will radically extend the power of geofencing. The introduction of 5G has the potential to transform marketing. Instead of offering a moderate speed boost over today’s 4G networks, 5G will deliver speeds up to 100x faster. This will enable near-instant downloads of many files while allowing the true power of virtual and augmented reality to be unleashed. Geofencing, meanwhile, will become vastly more accurate and flexible.

By partnering with the right creative agency for multifamily developer communities, you can create a significant competitive edge over your competition — and push your occupancy rates to even higher levels.

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Geofencing for real estate, multi-family properties, commerical real estate and more is finally here. Whether you use beacons, GPS tracking, or self-identified geo-targeting (such as checking in on social media) to create the “fence,” it’s all just a fancy way of of saying that you’re creating a set of digital triggers based on where your potential customers are located.

Imagine that your multi-family property is a local sponsor of concert series in the park near your building. As the property manager, you can set up a customized Snapchat filter for these events welcoming attendees and inviting them to stop by your sales center for a swag bag or drinks. The filter will only be shown to users within several hundred feet of your property and the event, making it a great way to organically generate foot traffic.

Or, imagine a couple walking down the street near their favorite coffee shop. They are considering buying their first home together and want to browse listings near by. Their real estate agent has set up geo-fences around his listings so they get notifications when they are near by potential matches. The couple can browse properties based on their desired budget, amenities, and neighborhood at their leisure before setting up a formal walk through when they are ready. This frees up their time to browse when they are already in the area, and their realtors’ time from constantly sending new listings. Emails are out, push notifications are in.

Geofencing isn’t as difficult to set up as you think:

Geofencing is already being done (we know you’ve used a customized Snapchat filter already, don’t lie). Whether you’re a building owner, property manager, or real estate agent, you can leverage tools that use geo-based information to create geofencing for your business. To get started, you simply need to understand the technology, then take a walk in your local neighborhood or around your property and consider how geofencing might work for your brand. If you’re having trouble brainstorming, we know a few highly qualified creative minds that would be happy to help. Hint: they’ll also help you balance geofencing marketing against your other campaigns so you get the most bang for your buck. Ready-made platforms such as Trillow and Snapchat are a great place to start, but you may also consider a proprietary app or program that tackles something new. Either way, we’ll help you identify the right tools and put a plan in place.

The benefits of geofencing for real estate marketing:

Geofencing gives power to the consumer to find information organically when they are ready and interested in learning about your property or consuming your content. Today’s real estate shoppers expect this level of transparency as more and more people are initiating home purchases and leases on their own, or with only minor support from their real estate agents. As an agent or property manager, this gives you the tools to empower your target audience and help the right tenants and buyers find you — rather than using a lot of energy to find them.

Geofences help you create qualified leads by using geography and other qualifiers, such as socioeconomic demographics and preferences linked through self-identified data collection, that signal when a potential customer is viable and valuable. Instead of spending time and resources on unqualified leads, geofencing helps your business understand who you should target first and gives you the freedom to invest in them rather than the “spray and pray” marketing model that targets anyone nearby. As an added bonus, geofencing also allows buildings and communities to alert residents of amazing local events, or to share important notifies and updates about weather or nearby incidents.

The possibilities are endless….and while we prefer to advocate building bridges rather than walls in your actual community, these are one type of fences we can get behind. Contact us today and see how real estate geofencing might fit into your 2019 marketing strategy.

3 Ways to Boost Occupancy Rate Using Property Management Marketing

Good property management marketing can bring ideal tenants to your properties easily and effectively. Instead of competing on price or square footage, a well placed ad from a media buying agency or curated social media posts can bring your community, neighborhood, and units to life.
Help prospective tenants discover and choose your property with three of the best kept secrets every multi-family marketing and property management firm needs to start using today.

1. Invest in a responsive, mobile-friendly site

According to GogoDigital, 98% of renters use mobile devices on a weekly basis to power their apartment search. Of them, nearly half said they would opt out of a property or unit if the site didn’t work effectively on their cell phone or tablet. Work with a digital marketing agency like BIGEYE to ensure your website works across devices and creates a seamless experience between all your channels such as social media, advertising, and email.

This simple update lets prospective renters know you operate a trustworthy, modern business. This is especially important as more and more renters expect to conduct the leasing process online using virtual signing tools to execute their leases and 360 digital tours to screen properties and make their final decisions.

2. Content is king and search engine optimization is queen

The best property management marketing site in the world needs to be search-friendly in order for your business to thrive. Prospective residents often start their apartment hunt on search engines, either to discover and explore properties, or to find companies that can assist with the leasing process.

Understanding what your specific goals are (think: promoting your property managed community versus offering a white-glove realtor service) will help you create engaging content that catches prospective residents’ attention and boosts your ranking in Google and other search engines.

3. Demonstrate your authenticity through social media and community engagement

Put words into action by reinforcing the values your property management marketing efforts are promoting by creating an authentic social media presence and participating in community events that are aligned to your ideal residents’ needs.

As an example, if your brand focuses on LEED certification and eco-conscious buildings, you may want to co-sponsor a beach clean up near your property to demonstrate your commitment and make like-minded individuals aware of your units. If you aren’t sure where to start, a local, top Florida advertising agency can point you in the right direction to build partnerships and activate events via social media.

Learn more about how our team at BIGEYE has helped single- and multi-family marketing managers like you succeed in today’s digital landscape by contacting us today.

Why you need a multi-family marketing agency to transform your brand

Over the past decade, 9 million households have entered the renters’ market, catapulting the property management business into a $73 billion dollar industry according to Forbes. The good news is that you don’t need a multi-billion dollar budget to get in on the action. A single-family or multi-family marketing agency can help small- and medium-sized property managers scale to compete with large, industry leaders to capture a share of this market.
 

Use a multi-family marketing agency to capture the Millennial market

The American Housing Survey found that rentals comprise nearly 40% of the housing market — a figure that is expected to increase over the next few years as rent-savvy Millennials continue replacing older homeowners. Appealing to this growing audience can be challenging for small- and medium-sized management firms because Millennials expect instant gratification and a highly-personalized rental experience. Because many Millennials are choosing multi-family residences, such as apartment and condo complexes, that offer white-glove service and amenities, enlisting the support of a multi-family marketing agency can help you anticipate and meet their unique expectations.

A digital marketing agency can help you understand how Millennials are searching and ensure your content seamlessly reaches them across channels. Here at BIGEYE, we pride ourselves on forecasting when and where generational audiences will engage brands across various devices or platforms to help brands plan and spend more efficiently. Learn more about how this philosophy can help catch the attention of Millennials here.

 

Improve search ability by growing your content marketing

Become an authority on your area, provide curated neighborhood recommendations, and share forecasts about the housing market to entice interested renters. By establishing a helpful, informative digital presence, your property management company will stand out from competition who is leading with hard sales tactics.

Creating blog and social media posts, videos, infographics, and white pages all take time and energy and growing property management companies may not have the resources to spend on this important work if it detracts from their day to day work of maintaining units and buildings relationships with clients and community partners.

A multi-family marketing agency that understands the condo market can quickly and cost-effectively pump out and place critical content so your firm can get the exposure it needs without sacrificing precious man-hours.

 

Help lessees find you by polishing your local listings and presence

If you’re in real estate, you know it’s all about the listing. And we don’t just mean property listing (although that’s important too). Make sure your property management company is included on all your local listing sites, such as the Chamber of Commerce, Rotary International and other civic-social organizations, Google Places, Yelp, and any organizations that have influence within your area. A multi-family marketing agency will make sure your listings are up-to-date, in compliance with any changing site rules, and performing well against the competition through ongoing optimization efforts.

While this process is not difficult, it can be time consuming — especially if you want to provide an extra level of service by replying to reviews, inquiries, and comments generated on those sites. Because agencies are used to performing this work and have the tools to bulk schedule in advance, it’s usually more expeditious for them to do it than for your team to purchase and learn what is necessary to achieve the same results.

For questions on whether our Orlando marketing agency is right for you, click here to receive a free consultation from our team. We’re ready to help you transform the neighborhood!