Using Social Media to Market Apartments - Resident Retention

Apartment residents move for a variety of reasons and many times we have no idea why. It’s kind of a shame, really. Social media/networking can help change that and by default drive down our cost of turnover. Think about it, if you couple the advent of the internet with the understanding that people are innately social - toss in a few platforms where they can observe, connect or participate and you have the perfect recipie for resident retention. And, as demonstrated in the last post you have the recipie for some great GoogleJuice. What we are really after is what Seth’s Blog: Share of wallet, share of wall, share of voice speaks to. [A quick shout out to @sbrewer10 for bringing this one to my attention.

In short, Seth speaks to the point many of us have made over the years - long before the advent of the internet and social platforms - the replacement cost for a resident is far more than the cost of retaining our current ones. Lisa Trosien wrote a great piece over at Multifamily Insiders that speaks to this point.

What kind of experience are you creating today to get a share of the wallet, wall or voice of your current resident base?

Have a stellar day -

M

Using social media to market apartments, resident retention, apartment marketing