Meet Your New Property Manager – A Six-Inch Tall Know-It-All

Amazon smart devices are in millions of homes and soon might be collecting rent. Here’s what brands need to know about real estate marketing strategy.

Being a property manager is no easy job – you’re on call all the time and you interact with people in problematic and stressful situations. Wouldn’t it be nice if we could outsource many of a property manager’s tasks to some powerful, all-knowing entity who works tirelessly and never sleeps?

Good news – that scenario is becoming reality, as Amazon’s Alexa and other smart home devices have the potential to allow tenants to request repairs, pay rent and manage a whole host of in-home experiences. It’s a development that has the potential to transform multiple industries, and should be of deep interest to anyone formulating real estate marketing strategy.

Alexa will be the first to greet you

Amazon is pursuing a new product strategy that will see their smart speaker device pre-installed in thousands of leased properties across the United States. The company’s Alexa Smart Properties Team partners with homebuilders, property managers, and hotel operators to custom-fit new residential units with Alexa-powered tech.

By doing so, Amazon can reap the benefit of gaining a vast new group of customers and property owners will benefit from advanced property marketing. Once Alexa is embedded into the smart home ecosystem, tenants will use the devices to order groceries, household goods and other services.

As mentioned above, Alexa can also serve as a proxy property manager, easing the strain on management staff and helping provide tenants with timelier service when issues arise. This will be accomplished through the integration of third party apps such as Zego. These apps can facilitate repair requests and even deduct rent payments directly from a user’s bank account when given an “Alexa, pay my rent” command.

Managers can also use smart speakers to remotely grant access to contractors and repair workers, remotely adjust HVAC levels in unoccupied units, and gather insights into tenant preferences.

An evolution toward the smart home experience

Global growth in the smart speaker segment is growing at a rapid pace. According to projections from IDC, shipments of smart speakers devices are projected to grow by 27% in 2019. By 2023, 1.6 billion devices are expected to be shipped annually, making smart speakers as ubiquitous as smartphones.

Amazon and Zego hope to push their products into millions of new homes over the next few years. Amazon’s chief smart speaker competitor, Google, isn’t standing still. Google is pursuing its own partnerships with homebuilders and property firms, including Century Communities, one of the largest homebuilders and property developers in the United States.

Amazon is also seeking to enter the stadium and hospitality spaces. Alexa can be used in hotels to provide concierge-like services: Ordering towels, room service, wake up calls and other functions. At stadiums and concert halls, Alexa can be used to order beverages, adjust seats and perform other useful services.

All of these advancements point to a future where smart devices aren’t merely an intriguing add-on feature, but rather a deeply integrated tool that’s wired in to everything that occurs in a home. As smart speaker adoption gains critical mass, these devices have the potential to become the central nervous system of the home – making life easier and more convenient for residents and property managers alike.

Is your real estate marketing strategy up to date?

Technology moves at lightning speed – but sadly we can’t say the same for most property development marketing. Too many multifamily marketing and apartment marketing agencies are stuck in the analog world and incapable of providing their clients with innovative campaigns driven by cutting-edge technology.

At BIGEYE, that’s precisely what we offer. If you’d like to see how a creative, forward-thinking agency approaches real estate marketing strategy, we urge you to contact us today.

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4 Multifamily Marketing Analytics Tools for Your Lease-Up Goals

To optimize the marketing analytics that drive your promotional efforts, pay close attention to these four key platforms.

Although advertisers still debate the comparative value of traditional vs. digital media, there is no doubt that digital analytics reign supreme when it comes to tracking the effectiveness of specific marketing campaigns and their various components.

While measuring the total audience for any given radio, television, print, or billboard ad is speculative at best, modern analytics systems can not only accurately identify every individual viewer of an online ad, they can follow each viewer through the entire post-ad exposure process, measuring criteria such as click-throughs and conversions as they (hopefully!) lead to the final sale of a product or service. Even better, these systems can accomplish all of this and deliver results in real time.

So where, exactly, should you go to reap the benefits of digital analytics? If you’re looking to attract renters to meet your specific lease-up goals, you’ll want to pay particular attention to the following four marketing analytics tools.

1. Google Analytics

If you’re going to achieve your desired lease-up level (typically round 95%) in a limited amount of time (typically between 6 and 15 months), you’ll need a strong foundation of analytics support. A platform that is nearly ubiquitous in the world of digital marketing, Google Analytics provides just that.

According to Entrepreneur Magazine contributor Thomas Smale, “no list of marketing analytics tools can be complete without Google Analytics.” The tool is so common due to its unparalleled power and versatility. In particular, it is great at tracking lead sources and helping users concentrate resources into the most effective media channels.

To more effectively allocate its multifamily marketing resources, for example, an apartment rental organization can use Google Analytics to discover whether its Facebook page or its Twitter page is generating the most leads.

The platform works by asking marketers to define their goals by entering a specific goal ID. A common event ID might track the number of times that users click on a specific piece of content.

A company in the apartment rental industry might be interested in determining which of its three floor designs are generating the most public interest. Using Google Analytics, it can establish clicks on these floor plans as individual goal IDs and watch each as they begin to accumulate clicks in real time.

In short, Google Analytics can create a report for any set of data you might desire, from simple audience overviews to complex conversion progress statements. And if you’re not impressed by its ability to lead you to unprecedented ROI, you still have to enjoy its initial price-point. Google Analytics is absolutely free.

2. Google Tag Manager

An extremely flexible platform that you can easily tailor to meet your specific wants and needs, Google Tag Manager helps you capitalize on the ability of Google Analytics to track information. Briefly described, Google Tag Manager uses bits of code called tags to generate detailed information about your audience members including who they are, where they’re located, what pages they’re visiting, and even what devices they’re using.

By default, Google Analytics places tags on your official website, social media pages, and other online locations to report on a wide variety of visitor behavior. As you begin to accumulate more and more tags, Google Tag Manager becomes indispensable when it comes to keeping them organized.

Google Tag Manager is particularly helpful because it offers a single place to manage your Google Analytics tags as well as your tags from other platforms such as Hootsuite and Facebook Pixel (which we will discuss when we come to must-have analytics tools, numbers three and four).

By clearly identifying every trackable item in Google Tag Manager, you’ll be able to easily read the data in each report and translate it into real world leads and conversions.

3. Hootsuite

Hootsuite is an analytics tool with a specific focus on social media monitoring. Due to the unparalleled outreach of Twitter, Facebook, Instagram, and the other major social media networks, a specialized social media analytics platform makes absolute sense.

With Hootsuite, you can monitor a wide range of user activity across multiple channels of social media to discover what your audience is posting about your business and track the relative performance of your own posts on your official social media pages. By monitoring these activities, Hootsuite can show you which types of content produce results and which don’t, helping you optimize your social media presence with posts that are both specifically targeted and highly relevant.

4. Facebook Pixel

Although overall Facebook advertising revenue has stagnated in recent months, it remains the dominant force in digital marketing, outpacing the other major social media networks by a significant measure. Facebook owes much of this success to Facebook Pixel.

An analytics tool that businesses add to their official website and other online pages, Facebook Pixel specializes in tracking/analyzing the performance of your Facebook ad campaign, helping you refine/focus your marketing efforts and monitor the online activity of both existing and prospective renters.

If you want to pursue more advanced Facebook Pixel analytics, you can establish event tags that are similar to those you can create using Google Analytics. Using these tags, you can gain even deeper insight into overall user behavior.

To learn more about the top analytics tools

A forward-thinking and creative marketing agency, Bigeye specializes in apartment analytics to aid in the development of effective leasing strategies. For more information, contact a Bigeye representative today.

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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 multifamily 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.