The multifamily real estate market is constantly evolving, particularly in a post-pandemic world. As the economy fluctuates and digital developments increase, keeping in touch with your current and future residents' needs is essential.
That's where an effective multifamily marketing plan comes into play. Deploying the right marketing tactics can attract new residents, keeping occupancy levels up while also offering benefits to your current residents.
We also understand that you probably have a lot on your plate and finding time in the day to dedicate to marketing can be difficult. That's why we're here to help with some quick, actionable tips to make your life easier.
1. Understand Your Audience
The first thing to determine with any multifamily marketing plan is who you're marketing to and what methods they respond to best. With a clear understanding, your strategy is likely to be effective.
Knowing your demographic is an essential part of the overall marketing plan. Who is likely to consider living in your community? Is it students, seniors, families or young professionals?
Then, conduct market research and look into marketing data. Does your website perform better than your Facebook page? What are your competitors doing? What sets you apart from the rest? All of this context allows you to understand and successfully target potential residents, strengthening occupancy levels in the process.
2. Develop a Community Identity
Building a solid community has multiple benefits. It keeps your current residents happy, can make property management easier and attract new residents through your multifamily marketing plan.
A sense of community is important to people, particularly in today's hyper-digital world. Apartment communities often miss that sense of togetherness, so creating it will position your multifamily communities as a step above the rest.
You could also consider a resident referral program. Happy residents are more likely to spread the message about their community, meaning you can reach more people without investing financially.
3. Create Engaging Marketing Materials
Whether you use traditional methods such as brochures or focus more on digital channels such as lead sites and social advertising, creating the right marketing materials is key. If they aren't engaging, the chances are they won't work.
Consider investing in high-quality photography to create content for all of your channels, both digital and physical. After all, a picture can speak a thousand words, so ensure you're showcasing your properties' highlights
When people hear information, they're likely to remember only 10% of that information three days later. However, if you pair that same information with a relevant image , people retain 65% of the information three days later.
4. Keep Your Channels up to Date
If you aren't posting regular content or keeping your channels up to date, prospective residents are more likely to turn to your competitors. In a world where so much information is available at your fingertips, you must ensure your marketing plan delivers.
Whether you have a website or are active on social media, keep it consistent. Leaving your channels to go stale won't help you in the long run.
5. Use Social Media to Your Advantage
4.55 billion people use social media globally. You'll struggle to find someone in your target audience that doesn't use social media, which proves how big of an opportunity it presents. Social media provides a cost-effective and personal way to reach your target audience.
Find the channels that work for you and showcase your offering. Instagram and Facebook are excellent places to start, so you can use imagery, word of mouth and discussion to spread the message about your multifamily residences.
6. Showcase Apartment Amenities
Desirable amenities can be the difference between new residents choosing your properties and going elsewhere. Whether it's bike storage, social spaces or a gym, use amenities to your advantage and as part of your multifamily marketing plan.
Showcase them on your social channels, use them for paid ads and include them on your website. The more exposure to the benefits you have to offer residents, the better. Not only will it attract new residents, but it'll also increase community retention and engagement.
Want To Learn More?
If you're looking to keep up to date with all things property management, then the Rent Ready blog is the place to start. We regularly post insightful articles about multifamily communities, property management trends and more. Head to our blog by clicking the link below and see what you can learn.