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 creation, and that’s ultimately more important than simply looking at occupancy rates in a silo.

 

A proven solution in other verticals.

Marketing automation is a proven and essential technology in many other verticals. Top industries like software and internet, telecommunications, computers and electronics, and health and pharmaceuticals are adopting marketing automation at the highest rates. These verticals have begun to realize that technology can be a competitive advantage in achieving definitive and measurable results. In fact, VentureBeat reported that 80 percent of marketing automation users saw an increase in the number of leads, and 77 percent saw an increase in conversions.

 

While the apartment industry has embraced digital channels to engage its growing online consumer base, it has been slow to adopt integrated and advanced marketing technologies. These technologies are integral to achieving repeatable, predictable and scalable revenue impact.

 

Marketing automation for multifamily.

Implementing marketing automation can help apartment communities streamline and automate many manual, time-consuming leasing tasks. The implementation also helps centralize marketing efforts so that PMCs have better control of their brand, their messaging and their renter experience.

 

This multi-touch attribution approach enables marketing and leasing teams to develop a clear view of how each touchpoint influences the renter journey and where to invest additional time and financial resources. Such an approach provides better insight into cross-channel performance on lead acquisition, engagement and conversion.

Rate this blog entry:
0
 

Comment Below

  1. Posting comment as a guest. Sign up or login to your account.
Attachments (0 / 3)
Share Your Location
  Some kids are quiet, sweet, and completely respectful when their parents are trying to talk with someone.  This does not describe my kids.  My kids are incredibly talkative and energetic, and when they were younger, having an adult conversation while they were around was an exercise in extreme patience.  As a leasing consultant, if one of these families walks through the door, the key to that lease very well may depend on your ability to provide a bit of quiet to allow a no...
Introduction Time is a funny thing. People are living longer than ever before due to medical advances, yet somehow we have less time in the day to get everything done. We are running around left and right without being able to stop and think about where we really want to be running to. Having the time to be strategic about your actions is becoming an elusive idea. Just think about eating dinner on a weeknight. If you are anything like us, it is not a well-planned, homemade meal. It’s a smorgasb...
“12-Step Program” for the Multifamily Housing Industry 1. Streamline Business Practices. This is an opportune time to review your business procedures for effectiveness. Consider areas that can be combined into one or structured differently to reduce costs. Think about sharing resources, like administrative or payroll work, with other team members to reduce overhead. The goal is to streamline operation, so you can still provide a quality product or service, yet realize a greater profi...