Transformative Marketing Trends for the Apartment Industry in 2020
Some of us might remember circling available apartments in the newspaper, reading keywords and short descriptions and hoping the unit held up in person. While it might feel like only yesterday, the truth is marketing in the apartment industry has changed drastically in just a few short years. Today, renters utilize every ounce of technology to search for a new home over multiple mediums. For those of us in the marketing realm, reaching our audience is no longer taking out a single newspaper ad, but now centers are a multi-device, convenient and dynamic user experience. As 2020 quickly approaches, let’s talk about how the market has transformed and how to dominate the competition in the new year!
Tis the season for gift giving, so let’s talk about holiday shopping. When I start looking for gift ideas, I browse online with a tablet or phone. I might pick up some advertisements in the Sunday paper, but for the most part my holiday gift inspiration stems from idle online shopping on the couch. Once I start forming more concrete ideas, I typically move off of my personal devices and switch to a computer, or even venture out in person, to more easily place orders or do in-depth research to solidify my choice. You may be wondering how this ties in to the apartment industry, so let’s break down my shopping habits and tackle the key take-aways.
Just like browsing for a holiday gift, renters today want to start their search on one device and continue it on another. In the busy world we live in, customers require convenience and clarity. Providing a consistent brand that is transferrable to more than one device can help your properties stand out from the crowd regardless of where or how your audience is searching. You’ve drawn them in with cross-device capabilities and convenience, now it’s time to seal the deal.
Let’s say I am looking for a jewelry Christmas present for my best friend. I might browse online for a while and consistently discover a jewelry brand that seems to match her aesthetic. Since I’ve now formed a positive association to the brand, I switch to my computer to better examine the choices and place my order. Renters too will want to easily transition from their personal devices to a computer to dive in more deeply to the choices your brand offers. At this point the renter trusts your brand because you built a strong foundation with convenience and consistency across-devices. You reached them each and every time they searched for apartments, and they noticed. Now, your audience want to see what you offer. Providing your customers options will help reinforce your brand and solidify your position as the top provider.
One powerful way to help your customers finalize their decision is to tell a story about your values and provide a vision your brand can provide. If I find two jewelry brands that I think my friend will like, I might ultimately decide to purchase from the brand that matches my values and shows me they are a company I want to support. Multifamily marketers have a huge advantage in this area because choosing a residence is intensely personal. The emotional connection you infuse in your marketing can cause potential customers to identify with your values and imagine a future working with your company. When you effectively communicate your brand story, your customers will feel good both about your brand and their decision to build a relationship with you.
With 2020 just around the corner, multifamily marketers should prepare for an increase in technological usage by consumers. Focus on the following three aspects to propel your apartment marketing in the new year:
Maximize cross-device capabilities to capitalize on convenience
Provide choices to reinforce your brand
Communicate your brand story and value to build loyalty and reinforce the renter’s decision to partner with your brand