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6 Infrequently Asked Questions About Multifamily PPC

What is multifamily PPC (pay per click)? How does it work? What is a conversion? Multifamily PPC is a very complex and often misunderstood component of a successful apartment marketing strategy. But let’s skip past all the humdrum, and answer the questions you really want to ask, but rarely do.   I’ve heard it’s cheap. Is that true? The nature of multifamily PPC is that you can spend as much as you want. So if you’re looking to go low-budget, that’s technically possible. The real question is one of ROI (return on investment). Maybe you can spend 10 cents to make $10, or you can spend $1,000 to make $100,000. Which would you prefer?   I’ve heard it’s expensive. Is that true? See above. Your budget drives your cost, up or down.   I just got this card in the mail for free AdWords. Can’t I just do it myself? Absolutely! It is definitely possible to do Google AdWords on your own. However, working with a digital marketing agency brings the benefit of experience. An agency can integrate AdWords into a broader apartment marketing strategy which may include other media. That leaves you to do what you’re skilled and experienced in: running your business!   What’s the biggest mistake I can make in multifamily PPC? The biggest pitfall in multifamily PPC is throwing money blindly at bids with no consideration of landing pages. In all online advertising campaigns, landing pages play an obvious role in the magic alchemy that changes traffic into profit, but ma......
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Multifamily Marketing in a Pandemic

Those who quickly adapt tend to thrive. This skill has become essential to many businesses since the pandemic began spreading in March.  A positive consequence of the pandemic is prospects are following suit with widespread use of digital tools, online commerce, and virtual engagement.    I recently played host to another lunch and learn which explored the challenges multifamily properties faced while trying to market to shifting consumer behavior during the pandemic. Guests Liv Gabrielsen, Director of Marketing for Bainbridge, and Scott Papenfus, Director of Strategic Partnerships for LCP360, chatted about the creative ways they’ve adapted efforts and the true impact the pandemic has had on multifamily marketing efforts.     Shifting Marketing Efforts  When asked about general big shifts  as a result of the pandemic, Liv mentioned  what most businesses have experienced, consumers embracing the digital experience.    “For multifamily, what it did is forced our industry to embrace all things digital as we saw stay-at-home orders. The COVID pandemic made us shift what we're doing to ensure we can meet consumer demands in a 100% digital environment.”   She added that the industry knew they would need to support  consumers' digital needs  eventually. The pandemic accelerated that  process.    “We've known this for years; it's been moving in this direction,” Liv says. “For me, it was still a little bit of a shock of sorts — how fast we had to lean into some of the things or behaviors we were already thinking about, then suddenly over the course of a couple o......
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4 Tips for Staging Rentals: Small Changes Make a Big Difference

  While some might think that the added process of staging rentals is only important for selling homes or renting big complexes, large or small, a tenant’s first impression is something you can never get back. It’s hit or miss, and when you’re looking to have someone sign on the dotted line today, it’s important that you hit from the moment they walk in. According to celebrity stager Meredith Baer, staged homes sell 88% faster and usually collect 20% more on asking price. Apply that theory to your rental and you’ll be signed and off the market in no time. So, where do you get your professional hollywood stager? Spoiler alert: you don’t need one. According to the National Association of Realtor’s 2017 Profile of Home Staging, tenants are more focused on the tidiness and overall condition of the apartment, rather than any decorative additions. Simple things like cleaning and de-cluttering helped 77% of clients to more easily visualize the property as a future home. Read on to find out how you can make these small changes to deliver a big impact. De-Clutter: Out of Sight, Out of Mind Typically, tenants are required to take everything with them when they go; however, there is the occasional tabletop or wall-mounted storage that sneaks it’s way in. Be sure to clear everything from the apartment before staging rentals so that your future tenant can let his or her imagination run wild. If they’re going to make it their own, they’ll want to start with a blank canvas. And if you’re showing a pr......
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How to Improve Your Rental Website

As digital searches increase and consumers become decidedly more connected to the Internet, finding ways to improve your rental website is more important than ever. The Housing Search Begins Offline, but Quickly Moves Online “For Rent” yard signs and external marketing are still great ways to get your inventory noticed and your brand out there, but they don’t result in immediate calls anymore. Renters want to see pictures of the inside of your properties, details on the amenities, and to assess your quality as a landlord. The first thing they’re going to do after taking notice is jump on the Internet. You probably know this already: you don’t need a comprehensive, nationwide rental housing study to tell you that most tenants consider the Internet an extremely important part of the rental process (but here’s one anyway). You’ll rarely find a prospective tenant that hasn’t visited your website or found you on one of the many listing sites like Rent.com and Zillow, so finding ways to improve your rental website is extremely important. Reviews Matter 91% of consumers regularly or occasionally read online reviews on Google or industry specific sites, particularly before making a purchase. 84% of people trust online reviews as much as a personal recommendation. Your renters will almost certainly see reviews of your business before they speak with you and it will likely make a major impact on their decision to rent or not. It’s important there are a number of positive reviews available. Of course, positive reviews all start with positive management, ......
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How Does Influencer Marketing Impact the Apartment Industry?

How Does Influencer Marketing Impact the Apartment Industry?
The apartment industry is growing and with it, competition. Whether you’re a property manager, asset manager, apartment owner or developer, you’re going to need and want to expand your apartment community or portfolios marketing and branding. More and more apartment communities and property management companies are turning to influencer marketing as additional marketing source and a great way to generate buzz for their communities. What's Influencer Marketing? Wikipedia tells us that it’s a form of marketing where the emphasis is placed on specific individuals or types of individuals, rather than targeting the market as a whole. Influencers are usually social media experts and bloggers who have vast and loyal followers. These individuals can be found on every social media platform.  Influencer Marketing and Multifamily This is a relatively new concept in the apartment industry. However, using influencers will allow you to target a way larger audience and establish your property or company on a larger scale.  The Stats The stats speak for themselves. The Nielsen Global Trust in Advertising Report surveyed people in 60 countries found that 83% of people turn to those they know for recommendations, above other sources. This is just one of the many reasons why influencer marketing is a powerful way to promote your community.  What Can Influencer Marketing Do for You?  Social influencers can expose your brand, apartment community or property management company to millions of followers. Some ways include: Reaching out to their Twitter and Facebook followers supporting your brand Blog articles on your apartme......
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The Prospect Email Strategy Guidebook

Introduction Nurturing prospects is one of the most important steps to convert a lead into a lease. According to Hubspot, 47% of shoppers look at three to five unique marketing materials prior to reaching out to sales personnel. Lead nurturing campaigns can provide more frequent and consistent touches than a purely human workforce. Considering that nurturing emails average a 4-10% higher response rate than traditional campaigns, we think you are going to want to invest in it. So, we wanted to create a playbook that outlines how you should communicate with prospects during the 4 most important prospect journeys. Communicating with prospects consistently during these journeys makes prospects more comfortable and excited to sign a lease! Let’s explore the email options for communicating with warm and cold leads!   Pre-Tour Emails Why email prospects before their tour? Due to the introduction of big ILSes like Apartments.com and Zillow, prospects are overwhelmed with apartment options. Emailing your prospects before they tour can set you apart from the competition. Take a minute and think about how many recipes you have pinned on Pinterest. If you are anything like us, those new, tasty recipes are sitting untouched on our "Foodie” board. Even though we think these recipes sound good and we have to eat, we still end up making the same five recipes over again. Why? There are three main reasons: We forgot about our newly saved recipe. We slip into old habits because they are familiar. We don’t want to put in the work&......
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Boost Tech Savvy to Improve Marketing to Millennials

Boost Tech Savvy to Improve Marketing to Millennials
Smart marketing involves a hefty investment in reaching millennials, an audience that includes 75.3 million people (Pew Research). It’s a target market that has a technology focus and understands marketing, creating a need for property owners to improve their marketing game plan. Millennials were born in the last quarter of the 20th Century. They grew up in the age of rapidly-advancing technology, financial prosperity, immediate gratification, and multi-culturalism. To reach them, a multifamily property owner or manager must develop the following: Web design and wi-fi: Responsive design is a must for your property’s web site. It must be interactive and straightforward, and your property needs to offer wi-fi. These are the first areas to invest capital if you haven’t done it, because if you skimp on the tech, you lose this audience completely.  Great content: Social media and blogging aren’t four-letter words. Millennials want to know that you’ll maintain open lines of communication as a property manager, and the best way to establish your own voice is through usable content. Write it in a conversational tone that conveys that you care, and share information on topics such as community events, holiday hours, local attractions, property amenities and improvements, and local news updates. You could even delve into space-saving tips for apartment living. Whatever topics you choose, customize them for your residents. Inbound marketing: Millennials put their trust in those who provide honest and practical expert knowledge (see the first two tips). A recent HubSpot article revealed that “outbound marketing methods, like magazine ad......
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Appeal to Family Focus When Marketing to Generation X

Appeal to Family Focus When Marketing to Generation X
Babies born in the cold-war-era between the mid-1960s and mid-1980s are labeled “Generation X.” As a group, this generation has been labeled rebellious, independent, skeptical, and entrepreneurial (AccountingWeb), but they also have a strong family focus. They don’t trust most marketing tactics, and they have a need to make a difference. Shift your focus just a bit when marketing multifamily properties to this generation, concentrating on: Family-friendly amenities: This is a major selling point for most people, regardless of generation identity. But, highlighting neighborhood location, property amenities like playgrounds or security, and local school ratings can boost your property’s appeal to Gen-Xers. If your property lacks a family-friendly atmosphere, invest in landscaping that encourages outdoor play for children. Or, focus on neighborhood features like nearby parks.  Truth in advertising: Don’t make this group promises you can’t keep. If your marketing material makes your property sound better than what it really is, you will lose the interest of these natural-born skeptics. Tailor your message to focus on their values and interests; but above all, be honest and you’ll earn their respect. Community: The Generation Xer who wants to be a part of something more will be moved by perks like community gardens, recycling programs, energy efficiency improvements, and community service partnerships for residents. Promote service projects by offering discounts on rent for hours worked, or host recycling contests or food drives that encourage friendly competition among teams of residents. Set up a community service group that adopts and maintains that nearby park. The possibili......
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Marketing Your Property to Kids of the Baby Boom

Marketing Your Property to Kids of the Baby Boom
Marketing to Baby Boomers is understandably a primary focus of many property managers. Numbering more than 76 million, Baby Boomers cut their teeth on a postwar America that taught them to let loose through “free love,” value their independence from family, and question authority. They’ve been through some of their own hard times, especially in the job market, and they don’t trust modern branding. The challenge with Baby Boomers is not getting their attention, so much as it is keeping it. AccountingWeb says today’s “marketers now are finding that this demographic is market-savvy, consumerist, and are happy to brand hop thanks to the fact that they came of age in the swinging sixties when novelty and experimentation were favored over conformity and tradition.” This means that you might earn their favor, but developing their loyalty will require that you go above and beyond. Think: continuous property improvements. As they age, kids of the Baby Boom still value their freedom. Their families may be encouraging traditional nursing homes or assisted living facilities, but a savvy multifamily property manager can provide a less-restrictive alternative that doesn’t carry that “old folks’ home” stigma. To reach Boomers, you’ll need to tap into digital marketing channels. A recent DMN3 study revealed that 96 percent of Baby Boomers use search engines, 95 percent use e-mail, and 92 percent report shopping online. Craft a digital marketing plan that pays close attention to: Regularly updated SEO efforts, so that a Boomer can easily find your property by name, location, or amenities. Evolving......
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How to Attract the Mature Generation

How to Attract the Mature Generation
Americans born between the mid-1920s and the early 1940s are now known as the Mature or Silent Generation. Because they saw the Great Depression, wars, the women’s movement and the civil rights movement, they’re justice-seekers. They had their families while they were young, and they’re no strangers to hard work. They place a high value on both. This generation has been through the wringer. They’re motivated by values, loyalty, tradition, and family. They’re a trusting group that prefers the following marketing channels: Print: Matures read the newspaper and flyers, and they clip coupons. Face-to-Face: These seniors believe in handshakes, conversations, and word as bond. Attract them to your property with an open house, and take them on a tour. Social Media: Their presence on social media is growing as they discover how it helps them reconnect with lost friends. Focus on life’s great moments when marketing to Matures in both digital and print ads, according to Encore Perception Marketing. “When using imagery in your ads, use one image over a collage of images. They are fond of lifestyle images of a group or family and love pet images. Because of their limited eyesight, they prefer simple fonts and subdued colors. If marketing to them via your website, make sure your message uses an authoritative, respectful tone and includes information from experts in your industry.” A Mature Decision The Mature Generation has known hard times and great times, and their focus is less on self and more on family and friends. Provide them with a mul......
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