Enter your email address for weekly access to top multifamily blogs!

Multifamily Blogs

This is some blog description about this site

Marketing Automation Crucial to Increasing Revenue for Multifamily Communities

Asking an onsite team to track, nurture and follow up on leads without the use of technology is an exercise in futility. Staff simply do not have the time or resources for efficient lead management.   This is particularly true in the digital age. Renters expect immediate engagement through digital, mobile-based mediums. In fact, 88% of renters want to be reached via email, and 50% want to be texted.   The role of marketing automation in effective lead management. Many view marketing automation as a tool that only benefits marketers. In actuality, marketing automation is critical in the implementation of effective, best-in-class lead management. As such, it benefits leasing teams just as much as marketers.   Because marketing automation helps align leasing and marketing teams around a centralized database of renter information and integrated processes, both teams can work together to attract, engage and convert leads to leases. Leasing agents can spend more time on prequalified leads, closing leases instead of following up on leads that are premature. Then, not-yet-ready leads can instead be funneled into an automated marketing program designed to nurture renter interest until they’re further along in their search process and ready to engage with leasing. This approach creates efficiency across the entire funnel, accelerating demand and conversion.   Marketers who leverage marketing automation are more successful at generating a steadier stream of active leads for leasing. Additionally, this approach can improve conversion ratios by two to three times. Higher conversion rates mean greater spend efficiency and revenue c......
Continue reading
321 Hits
0 Comments

Is Traditional Outreach Marketing Dead?

The subject of outreach marketing and the part it plays in common day marketing at the site level, came up in a group discussion during the 2017 NAA Education Conference and Expo.  There were many opinions and all agreed that things have changed. Delivering fliers to your surrounding businesses or taking pens to local businesses.  Are we gaining any leases from the same things that used to work so well to reach qualified prospects for our communities? Has social media, Google advertising and drip campaigns made traditional outreach marketing efforts pointless?  In our current advertising climates and the “Going Green” programs, does it make sense to keep bringing fliers or sending direct mailers any longer?  Digital marketing has taken the marketing industry by storm.  While print marketing still holds power within the industry, it’s the digital marketing trends that are proving to hold precedence.  Per Forbes, “Web Strategies reported that in 2016 the five digital channels that saw large gains were email marketing, social media, online display advertising, mobile marketing and search.’  You’re likely wondering what this year’s growing marketing trends will be.  After all, the internet and all its trends are constantly changing and what was a marketing powerhouse last year could very well be old news this year. Live Video Streaming will take off fully this year.  Facebook and Instagram have already integrated live video capabilities and other platforms are anticipated to follow suit.  Live Video, even when watching a previously recorded version, has the potential to draw in millions of p......
Continue reading
1471 Hits
3 Comments

How to Build a Future-Proof Marketing Technology Stack

Renters rely on internet listing services (ILSs), social media, online reviews, community websites and in-person tours during their search for a new home. In this real-time digital age, multifamily marketers must allocate resources to software and tech tools that can help them manage the entire renter lifecycle, not just the acquisition of leads.   This starts with building a future-proof marketing technology stack.   A Customer Relationship Management System A Customer Relationship Management (CRM) system is the first, and arguably most important, type of software that apartment communities should implement. A CRM creates a comprehensive database of renter data, including lifestyle, demographic, preference and past rental data.   Managing your customer information with a robust CRM can lead to more targeted and effective marketing campaigns. Targeting based on these insights can help you better resonate with your audience and increase your closing ratios. For example, rather than sending a mass-marketing email about the pet-friendly features of your community to someone who doesn’t own a pet, your team can target only those who have shown interest in pet amenities.   A Marketing Automation System Once you’ve got a centralized CRM in place, you’ll want to integrate it with a marketing automation system.   Marketing automation software is a necessary tool within modern marketing organizations. It provides a centralized way for marketers to manage renter communications for their entire portfolio and across a multitude of online and offline channels. It also tracks online behavioral data. Marketers can use this data as an additional layer......
Continue reading
1090 Hits
2 Comments

How to Increase Your Google Map Rankings for Your Apartment

Google Maps for ApartmentsRanking in the local map pack can be super challenging at times. Especially when you’re in a very competitive metro area like Los Angeles or Atlanta. How can your community stand out among the rest of the apartments on Google Maps? Here are a few ideas: Increase the number of images on your Google Maps Listing Increase the number of positive reviews on your Google Maps Listing Increase your Google Hang Time on your Google Maps Listing       Increase Images: This is an easy one. Most G Listings that take the top spots usually have about 20 to 40+ images uploaded into their Google Listing. If you can get close to this number of photos uploaded you should be in a good position. Increase Positive Reviews: This is easier said than done, I know. However, with a great Survey Product you can survey your residents after a successful move-in or work order to get them to leave a review while you have their attention. Send residents a 1 question survey and if they leave 3 stars or less, it stays internal and anything 4 stars and above, the user gets prompted to leave a review on Google! Increase Your Google Hang Time: This item can get a little pricey but well worth the investment. Working with a Certified Google 360 Company is key. If you can have your 3d tour completed and added to your Google listing this will help increase the amount of time users spend on your Google l......
Continue reading
1595 Hits
0 Comments

Structure Your Marketing Team Right: Start with the Resident in Mind

The best marketing organizations in the world know one simple truth – revenue sustainability and growth begins with the customer. In fact, Gartner predicts that a majority of companies will redirect their resources into customer experience innovations by 2018.   The need for a customer-centric experience is no different in the multifamily industry, where only 52 percent of renters said they enjoyed the apartment search process, according to a RentPath study. In addition, the majority of prospective renters are reviewing three or more websites before even visiting the community and making a purchase decision. In fact, 88 percent of prospective renters said they needed to see a property before they made a purchase decision.   It’s a multi-channel search experience, yet multifamily marketing departments remain structured around individual marketing channels rather than customer needs or segments. When structured in this manner, messaging is often fragmented and focused on optimizing their channel rather than enabling customers. Marketing success is measured by channel-specific metrics, such as likes, followers and click rates, instead of customer-centric metrics, like leases and renewals.   This approach leads to ineffective marketing and a disjointed customer experience. But with a little creativity and research, marketing departments can become highly effective teams that put the renter experience first.   Flaws in the typical hierarchy The typical structure of a marketing department in the apartment industry might look something like this:     The vice president of operations oversees the entire system, ensuring that each separate group is meeting its goal......
Continue reading
1545 Hits
0 Comments

Google Adwords: Apartment Lead Generation with Message Extensions

When it comes to gathering leads through Google Adwords some of the more popular conversion KPI’s are calls and emails. Times are changing with the rise of mobile and texting.

Google recently released a new Ad Extension to help with enticing searchers to text your community, so you can engage with them via text at your convenience.

 

 Here is how the process works:

1.      Users click on your text ad extension and sends a text

2.      Users get an automated text back acknowledging their text

3.      Messages are then downloaded in a spreadsheet

4.      You follow up with your new potential resident asap

Google Adword’s newer ad extension is focused to help you reach more potential residents while keeping your cost per acquisition low. There is strong data showing how users are more willing to text a community vs. calling or emailing nowadays. You can auto respond quickly to acknowledge them while they start their journey down the conversion funnel till they lease!

If you have any questions about Google Adwords for Apartments, feel free to send me a message!

Continue reading
1337 Hits
0 Comments

Trending Up: Social Media, Email Marketing, and Pay Per Click Advertising | Trending Down: Craigslist Ads?

We recently released our 2017 Apartment Marketing Strategies Report that surveyed marketing pros throughout multifamily about their strategies.  One of the questions we asked was the use of several marketing strategies, including social media, email marketing, pay per click advertising, and Craigslist, as well as their marketing budget overall.  Here are some trends based upon responses by 111 marketing professionals:

 

Craigslist is an interesting topic, in that it was the hot marketing location 4+ years ago, but then spiraled downward following changes to the Craigslist platform.  In fact, many people had left Craigslist for dead, but at the NAA Education Conference and Expo, Lauren Curley, Chief Operating Officer of Bonaventure Realty Group, stated that Craigslist is still an excellent driver of leases.  She then posted a response on this forum post with great data:  Questions on Craigslist Posting

So what is your take?  Is Craigslist still dying, or were we too quick to call a time of death?  Share your experiences with Craigslist in the comments below!

Also, if you would like access to the full marketing research report with loads more data on virtual reality, remarketing strategies, marketing budgets, marketing metrics, and more, you can download the full report for free here (must be logged in)  > >  What are the latest trends in apartment marketing for 2017?

Continue reading
2104 Hits
4 Comments

Choosing Technology Wisely

Choosing Technology Wisely
Choosing Technology Wisely The technology landscape is a crowded one these days, both with innovative new arrivals targeting the industry as well as strong existing options with more longevity.   Choosing the right value-add technologies is a challenging task for multifamily operators.  What are the drivers that elevate one over the others? Take a look at any aspect of operating apartment communities today, and you’ll find no shortage of new technologies designed to help your business improve, streamline, connect, develop, educate, assess, analyze or aggregate – you get the picture.  Most likely, you and your team are contacted by enterprising marketers frequently, all seeking to show you how their solution is the answer. Let’s take a look at one area receiving a lot of attention in recent years:  package delivery. You have technology-plus-hardware solutions from companies like Package Concierge, Parcel Post and LuxerOne; and digital-only solutions like those from Entrata (ParcelAlert) and ReceivingRoom.  Also, customized apps like Mobile Doorman offer an entire resident communication platform including package notification as only one of many communication features. Of course, that’s just one example.  From new lead-delivery apps like HomeMe and Zumper to bite-sized web-based training options like GROW Learning, real-time transportation information displays like Transit Screen, and InfoTycoon’s innovative asset management platform. And I can't write a tech article without mentioning the new Respage AI-powered chatbot (a digital leasing agent), and the innovative market survey platform by BI:Radix. There is so much new technology deployed that the list could go on for days. What to do?  It’s difficult t......
Continue reading
1492 Hits
3 Comments

Delivery Madness: Are you ready for Prime time?

Many who deal with package management on a daily basis breathed a hefty sigh of relief in January. The holiday season had passed, which presumably meant it’d be another 12 months before another rush of that magnitude. Well, hold on a minute; there are a few hidden holidays that impact the number of packages delivered but what about “self-created” holidays? Prime Day is Prime Time One wouldn’t think a self-created holiday would create such mayhem. Well, unless that holiday is all about packages. Introducing the third annual Amazon Prime Day, which absolutely fits that billing.  Delivery carriers and managers are advised to gear up for this one, which begins at 9 p.m. ET on July 10. Amazon hypes the event as a “one-day only global shopping event for Prime members.” It’s essentially an online version of Black Friday, and you better believe it makes an impact. The e-Commerce giant launched its second ever Amazon Prime Day on July 12, 2016, and it resulted in the biggest sales day ever for the online retail giant, according to CNBC. Amazon declined to disclose how many people signed up for Prime to participate in the sale, but U.S. orders rose by more than 50 percent compared to the first Prime Day a year earlier. Now that Prime Day is fairly established, it’s a reasonable expectation that the numbers will continue to rise. Last year, our customers experienced a 30-percent increase of package deliveries two days after Prime Day. Here’s hypothesizing that the increase will be even sharper t......
Continue reading
815 Hits
0 Comments

How to Leverage Free User-Generated Content for Apartment Marketing & Social Media

Creating and curating content for apartment marketing and social media can be time-consuming, costly and involve using a lot of creative capital. Many apartment communities simply do not have the resources to employ an entire marketing team, so staff often have to multitask.   Property managers are sometimes responsible for far more than just marketing; their duties can involve graphic design, social media, resident event management, lease up programs and more. Due to the multi-tasking nature of these positions, focusing a lot of time and energy on content is practically impossible. However, curating content from tenants or staff isn’t nearly as strenuous on time or resources. An article written by Bill Gates all the way back in 1996, titled Content Is King, emphasized the value of content far before Internet marketing ever took off.  Many of Gates predictions came true and content has reigned supreme in online marketing. The average Internet user consumes a large diet of content; but also produces content as well – this user-generated content is an often-overlooked area for apartment marketing content curation.   User-generated content is extremely valuable for several reasons, most importantly being that it resonates better with users and develops a better brand image. User-generated content also appears more genuine and authentic. Consider some of the following stats:   1.     Bazaarvoice found 86% of millennials say that user-generated content is a good indicator of the quality of a brand. 2.     Adweek discovered that user-generated content results in 29% higher web conversions than campaigns or w......
Continue reading
1182 Hits
0 Comments