Add value for your residents, while creating lasting relationships in the community.
Facebook is an effective medium for local businesses trying to drive people offline to their premises and for building deeper relationships with members of their local community. Using Facebook to cross-promote in conjunction with a local merchant can gain greater exposure for your offering and should be at the top of your marketing to-do list. What is cross-promotion? Cross-promotion is where two parties, who target identical or similar markets, decide to promote each other’s services.
Picking a Cross-Promotion Partner
To determine a partner to align with, consider the following:
1. Demographics
First, make sure there is alignment. If you’re a retirement community, for example, avoid partnering with a nightclub whose young audience will be off your target. Second, brand image is a consideration. Make sure it’s compatible with your partner. If your interior architecture is ultra modern, you’re probably better off partnering with a contemporary furniture store than an antiques store.
2. Reach
Make sure that your cross-promotional relationship is equitable. If you have 2000 Facebook fans and you’re doing a campaign on Facebook, you want to make sure you aren’t working with merchants that have only 10 fans of their own. Though, you can mix and match marketing channels to make your relationship work. For example, if a merchant has tons of website traffic, they might still be an attractive partner.
3. Variation
Ideally, you’ll launch new and different promotions over time so that you can constantly reach new audiences. Here are a few categories of merchants to think about:
• restaurants and cafes
• dry cleaners
• florists
• hardware stores
• nail salons and spas
Examples of Cross-Promotions
There are infinite possibilities for the types of promotions available to you. Let’s discuss a few and give some examples to spark your creativity.
1. Facebook Wall Exchanges
Make arrangements to follow each other’s pages and share updates as appropriate. This will lead to more exposure and engagement across your fan-bases.
2. Discounts
Offer discount coupons when it is synergistic to do so. For example, work with a local restaurant to offer a coupon to their guests for $200 off the first month’s rent if they become a resident. In exchange, the restaurant can offer a 10% discount on Wednesday nights for your residents. The benefits are mutual and your residents will appreciate a chance to save money and potentially experience a new dining spot.
3. Sweepstakes and Giveaways
Organize a giveaway with a partner in order to promote your community. You can announce to your residents (via Facebook, newsletter, flyer, etc.) that you’re co-sponsoring a giveaway with a local merchant. Both companies tell their customers that there’s a prize to be won and then ask customers to become Facebook fans or join your newsletters. You can view a short video on sweepstakes rules on the Marketplace Expert Portal – accessible via the ForRent.com Management Console.
See one way a local restaurant used Facebook cross-promotion with a nearby apartment community here.
Ignition Points
1. Look around for businesses in the immediate area that would serve your residents.
2. Contact a business owner to toss around marketing ideas.
3. Informally test the idea on a few of your residents.
Final Words
Developing relationships with local businesses is a cost-effective way to reach a much larger market and gain greater exposure for your apartment community. It takes a little effort to coordinate with a merchant on a campaign, but the rewards are (1) happy residents and (2) more awareness of your community.
Have you ever done a cross-promotion? What worked, what didn't?
By: Courtney Anderson of For Rent Media Solutions