How sequential marketing makes property management more profitable
In previous blogs, we’ve detailed the benefits of sequential marketing. By crafting multi-part content that can be delivered across a variety of devices, advertisers can increase engagement, limit fatigue and significantly increase sales –as demonstrated by the Facebook-sponsored study. Consumers move seamlessly across devices, and advertising should follow their cue to be truly effective.
One example of how this works can be seen in the property development sphere. If you are a property developer or a multi-family manager, sequential marketing can help you meet your objectives with greater efficiency.
To better illustrate this, let’s take a look at a hypothetical scenario that outlines how this innovative technology can be used to identify and attract potential renters.
Using sequential marketing to make property ownership more profitable
Finding and retaining high-quality tenants is a perennial challenge for property owners and managers. Difficult or slow-to-pay renters can make property ownership less profitable (or perhaps even unprofitable in the worst cases), so effective tenant acquisition is a critical task –and marketing can play a key role in effecting this.
Consider the case of a property owner who has a 500 unit residential development. Occupancy rates have been consistently lower than desired. Additionally, the rate of tenants violating the terms of their leases for non-payment or other issues has been consistently elevated.
To help get occupancy rates up and payment issues resolved the property owner decides a marketing campaign is necessary. Here’s how that scenario may play out.
A conventional approach
First, the owner runs a conventional campaign featuring TV ads (expensive, so purchased during off hours to lower costs), advertisements in the local newspaper and some routine social media marketing. None of it proves effective, so the owner seeks the assistance of a local marketing agency.
The agency informs the property owner that the previous campaign failed because if used a scattershot approach that wasn’t tailored for the right audience. This time, the property development will create a compelling brand story then distribute that message directly into the hands of prospective renters by using sequential marketing.
Developing a compelling, targeted sequential marketing plan
Deploying this new strategy, the agency uses data analysis to create ideal buyer personas for the campaign, so the property owner now knows who to target. Content development then gets underway, and the agency crafts a deeply relevant and compelling brand story. In this case, the story is a three-part series of episodes.
The first shows a woman unhappy in her existing apartment; it’s too cramped, the children have to share a room and the furnishings are somewhat dreary.
The second episode shows the woman searching for a new apartment and coming across the property owner’s development, where she receives a walk-through of what could be her new home. She enjoys bright, open spaces.
The concluding sequence of the story shows the woman in her new home, smiling and celebrating a birthday party with her family. The scene fades out and the development’s tagline and contact information are revealed.
Choosing the most effective distribution points
After the content is created, this brand story is then delivered across multiple devices in perfect, sequential order to people who have been pre-identified as likely, possible renters.
The end result? The campaign significantly improves occupancy and default rates because it uses sequential marketing to deliver a resonant and deeply relevant marketing message across multiple devices to a target audience. Prospective tenants can be engaged multiple times across a variety of devices without inducing fatigue.
If you’re a property developer or manager dealing with tenant acquisition challenges – or you simply aren’t getting sufficient ROI on your current marketing approach – consider the power of sequential marketing for your next campaign.
The above example represents just one way this highly effective technique can be deployed to pique renter interest and secure new tenants. Contact our digital marketing gurus for more information on how to merge sequential marketing into your business plan.