Property teams are looking for reliable ways to connect with today’s renters, as budget season comes to a close and we head into 2023. Renters have high expectations for the apartment shopping experience. Online retailers such as Amazon and instant services like Uber have set the tone for how people interact with organizations online. Renters have a variety of options at their fingertips, and the rental market is already starting to soften. So, delivering seamless, simple experiences is at the forefront of property marketing teams’ priority lists.
In a webinar hosted by Rent., experts in multifamily marketing and property management shared tips on how to effectively market a variety of properties within a given portfolio. Jessica Dinin, VP of Marketing & Training at the Bainbridge Companies, Max Morales, Director of Marketing at the Cornerstone Group, and Lori Trainer, 30-year property management industry veteran and National Account Manager at Rent., shared key learnings. With experience managing and leading marketing for a variety of properties, they had actionable advice for property teams creating a marketing plan.
Use technology to deliver renter-centric experiences
Setting the tone for marketing technological innovation within his own organization, Morales shared the need for properties to use tech as a means to make renter experiences more convenient. “Everybody wants the Amazon experience online. They want to be able to find what they want and get all the information they need to be able to actually make their decision on the spot. That’s huge when it comes to marketing because we want to make that available to our potential customers,” said Morales. “We want to be able to answer as many questions as we can, utilizing our website, utilizing our social media and things such as geofencing, which actually get our [property] names out there.”
The appetite for convenience and instant experiences—both for property teams and the renters they connect with—has prompted a rise in the popularity of tactics like geofencing (location-based advertising) and social media advertising. Property teams are looking to more effectively target renters in locations they frequent and connect with prospects on popular channels. The rise in renters migrating to new areas, such as Florida in the Sun Belt region, from other states has also created a greater need for digital connections.
“I think geofencing is huge, especially for the Florida department because we’re getting so much growth that’s not coming from Florida. It’s coming from other states, and those are the states that we want to actually go out there and target,” said Morales.
Leverage the local community and authenticity
For renters apartment shopping locally and out-of-state, properties have worked harder to illustrate what their local community is like on digital channels. Dinin recommends incorporating local market research and exceptional experiences into a property’s initial marketing plan.
“If you are able to provide that experience–whether it's a lease-up or already a stabilized property–providing that opportunity for [renters] to really envision themselves at your community and what their lifestyle will be like, plays an important part of branding,” said Dinin. She also shared key frameworks and questions multifamily marketing teams can use to map out a marketing plan for each property.
"We typically do a SWOT (strengths, weaknesses, opportunities, threats) and look at our demographics. We want to understand who is going to be living at this community. Where is the property located? Is it an urban setting; is it a suburban setting? There are different avenues of marketing that you can approach with the different demographics that you have.”
Having a consistent, energized and authentic tone across all digital channels can also yield results for properties. Thinking back to property marketing success stories, Dinin shared an example of how positivity helped one property stand out on social media and retain residents.
“They were our shining star on social. They were working to deliver the highest level of customer service and it showed everywhere–their reputation, their reviews. We would get great emails into our corporate email praising them. Just having that positivity will translate to your community and your residents will feel that,” shared Dinin.
Simple, intuitive, and positive digital experiences have helped a variety of properties weather market changes. No matter the approach to a property’s marketing plan, properties that innovate and create strategies that put resident satisfaction at the forefront can continue to thrive.
Rachel Richardson is Content Manager with Rent.