Apartment Marketing

NAA’s UNITS magazine published a Satisfacts Research survey in their April issue titled “All That Apply:  Residents’ Leading Marketing Sources.”  The web-based survey queried 34,000 apartment residents who had moved within the last year, asking what sources they used from a prepared list of 36 possibilities, giving the option to check up to 20 of these sources. 

A survey question like this can tell us a great deal . . . notably that shoppers are utilizing an abundance of information resources, not surprising for most of us.

But does it really tell us that “Drive-by/signage” is the “leading” source, or that social media is “rarely used”?

Doug Miller, President of Satisfacts, was quite gracious in spending time with me over the phone recently to discuss the methodology behind the survey.  Here’s what I learned, and what you should also know:

·      Survey question:  “When you rented at your community, what sources of information did you use to find out about the community?  Check all that apply, up to 20.” 

·      The list of sources was a simple list, no clarification or further explanation provided

·      There were 15 Internet sources listed under the heading “Internet”, as in “Internet – Apartments.com”, “Internet – Property Website/Portal” and so on.  But many sources were omitted, like RentMineOnline.com, Oodle.com, ApartmentList.com, RentSocial.com and many others that carry apartment content. 

·      Similarly, all print publication sources were listed with an “Apt Guide” heading . . . “Apt Guide – For Rent”, “Apt Guide – Apartment Guide”, “Apt Guide – Apartment Finder” and “Apt Guide – Other”.  While those of us in the industry can muddle through that one, would the typical apartment resident be confused?  As one of the provider names is the same as the heading (Apartment Guide), it is easy to imagine that there was some respondent error here.

·      Facebook was included as one of the “Internet” choices, as well as Twitter and MySpace (really?), but other social media sites were not listed – like Pinterest, community or management company blogs and other sources where the industry has seen a great deal of activity.   

·      ApartmentRatings.com was included as an “Internet” source, but not Yelp.com or the many other ratings & reviews options we see the consumer utilizing.

·      There’s nothing at all in the survey about Mobile as a source – and that means none of the many apps and mobile sites were taken into consideration.  As mobile is the fastest-growing digital resource, this is a big missing component.

So, back to my original question:  Does the survey really tell us that drive-by/signage is the “leading” source?  Just my opinion, but don’t most of us drive a neighborhood we’re thinking about living in?  And while that helps us to know if the geography is right, does it really help a consumer narrow down the specific apartment community they want to take a look at? 

Also, with over 80% of Americans now using the Internet (via their desktops, laptops, smart phones and every other digital device with internet connectivity), and over half of Americans purchasing on line, does it really follow that the highest percentage any Internet provider garnered in the survey (Rent.com) was only 14.1%?  It just doesn’t add up.

Speaking of “adding up,” I saw a recent communiqué where one marketing provider was totaling their print and Internet percentages from this survey to come up with their “share” of usage.  Not so fast – since the survey asked respondents to “check all that apply,” there is overlap in the percentages; totaling is completely erroneous, as the same respondents checked multiple sources. 

As a long-time industry supplier with many years in the marketing arena, it troubles me that some readers might misunderstand these survey results, and that other marketing experts in the field are using the information inappropriately.  Shouldn’t we really be asking (in addition to a more precise usage survey) what sources are meaningful or most helpful?  What type of information is critical in making a decision on where to rent?  How important are ratings/reviews and friend’s recommendations in making your decision?  It seems to me that those questions would give us much more insightful, actionable answers.

I'd love to know your thoughts!

The mobile market is booming, and while you may have joined the latest trend with a mobile phone purchase of your own,  this technology can now be incorporated into your community by reaching residents and prospects in the way they most prefer—text messaging.  In return, your community can save time and resources with just a quick trip to the computer.  With an easy log in to your chosen texting platform, designated employees can type in a short text message and with a simple click, your message is in the hands of your subscribed residents, prospects or both.

Imagine reaching your residents quickly with notifications like:

• “Your lease is almost up. Stop by the leasing office to check out our latest specials to renew!”
• “Just a friendly reminder, rent is due Monday.”
• “Sorry we missed you. You have a package waiting in the leasing office.”
• “Powerwashing this Thursday.”
• “The next resident social is April 15th. See you at the pool at 2pm.”

The mobile market is booming, and while you may have joined the latest trend with a mobile phone purchase of your own,  this technology can now be incorporated into your community by reaching residents and prospects in the way they most prefer—text messaging.  In return, your community can save time and resources with just a quick trip to the computer.  With an easy log in to your chosen texting platform, designated employees can type in a short text message and with a simple click, your message is in the hands of your subscribed residents, prospects or both.

Imagine reaching your residents quickly with notifications like:

• “Your lease is almost up. Stop by the leasing office to check out our latest specials to renew!”
• “Just a friendly reminder, rent is due Monday.”
• “Sorry we missed you. You have a package waiting in the leasing office.”
• “Powerwashing this Thursday.”
• “The next resident social is April 15th. See you at the pool at 2pm.”

For the bulk of my childhood (from 1980-2001, in fact), the slogan of the United States Army was, “Be All You Can Be!” It was a tremendously successful marketing campaign created by E. N. J. Carter while at the advertising firm N. W. Ayer & Son. I remember seeing posters in malls and on college campuses. There were television commercials—tons of them— radio spots, t-shirts, and even action figures of unnaturally endowed men proudly sporting the sexy slogan. What contributed to its success was that the phrase mirrored a greater societal trend emerging in the late 80s: one that affected every child born in that era and still continues to resonate today. It’s what I like to call “The American Idol Syndrome,” or basically the idea that for whatever reason, our society has gotten it in its head that simply by trying, you too can “be all you can be:” get famous, find happiness, and die rich…just because you want to.

            But something happened in 2001 that challenged this idea that had shaped an entire generation; the Towers fell, and people changed. For a while, people were colder, darker, and more nervous about what the future had in store for them.

            Suddenly “being all you can be” wasn’t good enough. After all, what if all I can be falls drastically short of ending the war on terror or bringing the nation out of a recession, let alone running two consecutive miles or doing fifty push-ups? And so the slogan changed to “An Army of One,” and the catchy but cliché jingles of the Cosby Show era banished into the obscurities of YouTube, along with the theme song to Thundercats and “Crossfire.”

Resident Social Media meets Outreach Marketing

Pick a box…Do you like me? Yes, No or Maybe.  Remember when getting important information was as easy as passing a note in gym class, checking a box and passing it back?  It still is!  The beauty of the internet and social media (Facebook, Pinterest, etc.) allows us to find out all kinds of pertinent information on our current residents and potential new residents too!  This is a perfect marketing marriage!  This strategy, much like this post, is quick and easy to apply.

We all have our existing market.  The demographic (age, income level, etc) that exists, currently lives at, and already (by means of word of mouth) visits our communities.  But, we always are searching for the extended market, the next step up from those who are already here and walking in the door.  This is how to do just that.

If your current market is working, but could just use that little extra oomph to take you to the next level, then your job is quite simple.  Don't fight it, thrive with it.  Base your brand around it.  If your current market is young business professionals, give your community that vibe.  Then go after the extended market that would work in.  In this instance your extended market would be longer standing residents, as these would generally have an average  lease turn of 3 years, after which they would mostly be leaving for home ownership or job transfer.  Be sure to keep them until that happens.  Your extended market is the niche that clicks with your existing crowd.  This crowd will most likely end up being 40-50, recently single, business professionals.  The great news is, the marketing campaign to follow will still apply.  

If your current market isn't working, and you need a change of scene, then change your scene first, and work one your extended market second.  This generally applies to new community purchases, looking to sink their teeth into a C+ or B community, turn it into an A, increase rental income, and ensure an excellent investment a few years later.  When your scene (community, interiors, etc), has begun its transformation, start the serious groundwork for the extended market campaign.

What can you do to show you appreciate someone, your residents, your family, your friends, or the person on the street you just passed?  As we learn and use the wonderful features of technology and social media, we tend to not interrelate like we once did.  We have all emailed the person in the next cubicle or office, and texted someone when we could have called them. What three things can you do on a daily basis that makes a difference in how people connect and react to you?

Everyone has three things they can do to let others know they matter.  I recently sent an email about this to my fellow teams. Incidentally, I received more replies than normal and I would like to share some of the unedited feedback.

1. Smile and compliment them.
2. Make them feel welcome; tell them they have been approved for their new home.
3. Ask them “How can we help”?
4. Tell them you appreciate them, maybe bring them a coffee and tell them one nice thing! Or just give them a big hug.
5.  Listen, people want to be heard and know that what they have to say matters, and it shows you value them, as well as what they have to say.
6.  Speak directly to them, look in their eyes, and be attentive.
7.  Use their name when you talk to them, it makes them feel important and gets their  attention.
8.  A simple acknowledgement, “Great Job”.
9.  To a stranger driving and trying to get in your lane, “Just wave and let them in”.
10.  Stand up and greet them when someone walks into your office. Tell them how special they are every time you see them. 

This is timeless and relevant in this exciting and incredibly busy life we share.  Our lives are increasingly demanding, and the technology creates more texting, emailing, posting, tweeting, and less opportunities for those random meetings.

By Justin Sherin

In documents filed with the Securities & Exchange Commission (SEC) in advance of its initial public offering, Facebook revealed that it now has 901 million monthly active users, compared with 680 million just a year ago. The documents also state that over 500 million users engage with the site on mobile devices.

Hola! Aquí estamos. Are you ready, or not?

So who contributes to the on-site strategic marketing plan?

The recent tough multifamily years in the Houston area brought a certain focus back to the industry for many of us.  With job losses, cut work-week hours and reduced benefits for many renters, the need to get back to the basics was dreadfully apparent.  There existed a segment of leasing personnel who had only worked during the golden years just before the downturn.  Essentially, you could offer an apartment in a take it or leave it attitude.  Follow-up and effective closing techniques were not stressed nearly enough in many communities (especially at class A communities).  Emerging from the many ill-effects caused by the recession was a re-energized focus on leasing fundamentals.

This need to make it through the concession period was highlighted in many of the marketing plans being used on-site.  Admittedly, I started in the business when print shop flyers were king and raising locator fees constituted marketing for the week.  Alas, with a few years under my belt and countless hours studying the subject, I have a true respect for the intricacies of multifamily strategic marketing.  It is easy for a disconnect to exist between the various role players inside a management team.  All too often, the corporate management executives, corporate marketing personnel, owners, property manager and leasing team will each have various views and feelings about creating and executing a good marketing plan.  While my future blogs will cover some of the many aspects of a strategic marketing plan, I wanted to take this opportunity to write about the key players in its execution.  First and foremost, the on-site management team should have a unified and coherent positioning and vision statement from the owner and/or management team executives.  Next is the understanding that we are really marketing to prospects, residents, the public, vendors, management team, and owner.  Marketing is not all about advertising or promotion.  While this is an important component, the true purpose of marketing is to create, enhance, rebuild, and communicate value in relationships.  Positive relationships with vendors can help you pull strings to turn the vacant apartment that got left off the leased unit list and is scheduled to move-in within two days.  Positive relationships within the general public means that you have a good reputation and strong brand awareness.  These are important aspects of a multifamily strategic marketing plan, but we usually focus on the prospects.  So, in terms of who markets who on a daily basis, I would argue that the entire on-site team does.  Everyone from the property manager to the housekeeper is a valuable part of the marketing plan.  Whether it is apparent or not, their appearance, demeanor, and level of selfless service are constantly being communicated verbally and non-verbally. With that said, the next time you hold a marketing message meeting or begin to construct one, make sure you have the input and commitment from the entire team.