Successful multifamily marketing requires a unique angle and strategy
Depending on your metro area and region, you could be competing with thousands to millions of other units when marketing multifamily properties. California alone had more than 2.8 million apartments as of 2015, according to the National Multifamily Housing Council.
As more Americans opt for rentals over owning their homes, demand for apartments remains strong. However, you need to find ways to stand out from the crowd in order to attract a steady stream of potential tenants. So, how do you do that?
Tell a visual story
Do you remember the old-school generic foods that lined grocery-store shelves? (Are we revealing our age here?) White packages with black block lettering contained everything from cheese to beer. While this simple packaging meant a lower price for consumers, its function was strictly utilitarian. Today, even store brands use color, graphics, images and even creative naming to present everyday products.
Too many apartment communities fall into the trap of utilitarian marketing. While it might present the facts, does this approach scream “home” to potential renters? Nope. More likely, it leaves them with a bland taste in their mouths – and searching for something more warm and welcoming.
Take a look at our portfolio to get a better idea of what we mean. Each color, texture, font and photo evokes a unique idea or emotion. So, think about what you want your visual story to convey: sophisticated, modern, casual, quirky, fun, lively? Your property should have a visual personality, and it shouldn’t mimic all the other apartment communities on the block. Don’t be afraid to be different.
Find a niche
Zero in on what renters in your area want and how you can provide it to them. In addition to your on-site amenities, think about:
- Proximity to transit
- Nearby restaurants and nightlife
- Local entertainment options
- Nearby fitness facilities
- Access to trails and outdoor recreation
- Pet-friendly establishments
Are you a dog-friendly community of outdoor enthusiasts? Or do you cater to sophisticated professionals who like fine wine and food? Finding your community’s niche helps you connect on a gut level with the right prospects. They should know at first glance if your community is a fit for their lifestyle needs.
Modern marketing is a two-way street. Consumers want to have a relationship with brands that goes beyond push advertisements and banner ads.
So, think about ways to engage with both current residents and potential renters live. Consider live online conversations as well as in-person connection. Here are a few ideas:
- Social media. At a minimum, develop a strong social media presence. Use those platforms to answer questions and to interact with followers in real time.
- Create buzz. Take social media to the next step and create a community-themed conversation or contest. Asking locals “What makes XYZ neighborhood great?” could inspire an interesting conversation – or even user-generated art and content you can use.
- Throw a party. Nothing beats experiencing a place in person, so invite locals to yours. Host an after-hours networking event for a local business group or provide space for an artist showing. Be creative and choose an event that fits your brand’s personality.
Standing out from the crowd begins with developing a strong brand personality. When you focus on what makes you unique, you will begin to connect with prospects on a deeper level. You will be selling them a lifestyle and an experience and not just an apartment space.
We love helping multifamily communities develop a strong brand personality. Read about our approach to marketing multifamily, and contact us today to learn more.