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Social Media Marketing and Measurement

Social Media Marketing and Measurement

Social media marketing is tricky. How do you measure something so complex? Social media requires a delicate balance, especially on multifamily properties. You can’t post anything too personal, because then you might find yourself with an angry resident (think pictures of residents on the property who didn’t give permission to post their picture kind of angry). But if you are too vague, there is little to no value added. So, where and how do you start your social media marketing?

  1. Think about the content you create. Post about apartment events, news, specials, and promotions. Don’t just post something on social media because you feel obligated to. What do your residents want to hear about? Not sure? Send them a survey or ask them to comment on your social media efforts at the leasing office.
  2. Analyze what residents “Like” and don’t “Like”. If your social posts on news and events get the most “Likes”,  post on that topic more frequently. If your Facebook page gets more love than your Twitter page, make Facebook your dominant source for social posts and share the Facebook links on Twitter.
  3. Assess the time you dedicate to social media and online marketing. Are you spending several hours a day on Facebook? Several hours a week? As much as social media can impact prospects and residents, the reality is there isn’t enough time in the day to dedicate hours to creating impactful social media posts and then measuring all those posts to prove a substantial return on investment. If this is the case at your property(s), now is the time to invest in an online marketing service that bundles social media management. A dedicated social media manager will commit all their time to your property(s) social presence and will measure everything to make sure you are getting the biggest return on investment.
  4. Generate leads and opportunities through social media. If you want to generate revenue for your company, then you have to generate quality leads. Make social media another lead generation tool at the property - social doesn’t just have to be for the resident. Show people how cool your property is and they will be more inclined to come in for a visit. Here are some creative ideas to help spread the word about your property(s):
    1. Provide a field on your application that asks where the prospect heard about your property and list all your social sites as potential answers.
    2. Conduct social media promotions on your social sites. For example, post “Like our community page, then tag/share with three of your friends. The first person to tour our property from your tag/share will receive $100 off rent and you’ll win an iPad!” (People like winning prizes, obviously)
    3. Hold a video contest for your residents who love YouTube (“why do you love Property XYZ?” or something similar). Be sure to incentivize the winner with something creative - like a rent discount or free tanning for a month.
  5. Report your success. Once you can prove that your time spent on social media marketing is returning leads, prospects, and signed leases, you will receive more support to dedicate time or resources to this marketing tool. Be sure to track everything through the analytics many social media sites offer, or use a social media management service that will do the tracking and reporting for you.

Now is the time to audit your social media management. Once you have a system and strategy in place that works, keep it up! Repeat and always look for areas to improve. And never, ever stop innovating. Ever.

 

By: Lauren Moran

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