The Evolution of Marketing in Multifamily Real Estate
In the multifamily industry, the marketing playbook has evolved beyond the traditional five P’s.
Today, it’s about reaching residents where they are, understanding their needs, and personalizing the experience.
🔑 Key Insights:
Localized Social Marketing (LSM): It’s no longer about a one-size-fits-all approach. LSM focuses on creating content that resonates with local residents, ensuring a consistent brand and message.
Psychographics vs. Demographics: While demographics give us a clinical segmentation, psychographics delve deeper into a customer’s attitudes, interests, and opinions. This has led to more personalized amenities and experiences.
Outreach Methods: The industry is moving away from traditional methods like print and banners. Today, it’s about multi-channel communication, with a focus on phone, email, chat, and online scheduling tools.
Call to Action (CTA): A fundamental marketing principle, CTAs on websites are becoming more user-friendly and direct, with a majority offering prospects the chance to schedule tours directly.
As we navigate the multifamily landscape, it’s essential to stay updated with these trends and adapt our strategies accordingly. By understanding our residents better and offering them personalized experiences, we can set our properties apart in a competitive market.
Source: Multifamily Insiders
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