Does Your Marketing Strategy Include Social Media? Here's Why It Should
Over the last decade, social media has become an indispensable tool in every marketer’s belt across industries — and multifamily and student housing are no exception. In this blog post, we’re going to walk you through the three key reasons your property’s marketing strategy should include a line item for social media.
Here’s a familiar scenario:
Your management company just added a brand new development to your portfolio. This new development is currently under construction and slated to open in about a year. You’ve been tasked with a fairly standard pre-leasing goal of 10% by the open date.
You’ve done this a dozen times before, and set out on developing a marketing strategy to generate buzz in the area and start bringing in those leads. The on-site team has everything from curb appeal signage to future resident referral programs in place. They’re even planning to canvas the area with promotional flyers. Even though it feels like the major bases are covered, there’s one thing missing: a solid social media strategy.
Here’s how social media can help your team crush those pre-leasing goals:
Whether your property is in a competitive metropolitan market or in a sprawling suburb, apartment seekers need to know your community exists. Instead of passively hoping they see your “Coming Soon” signage, your team can leverage the traction-building power of social media to drive awareness for your community. With over 4 billion combined monthly active users across platforms, your prospects are only a scroll, click, and double-tap away. In fact, nearly 70% of prospects and consumers want brands to connect with them on social. This is the perfect opportunity for your property to meet apartment seekers right where they are.
Once your team has created a compelling online presence that entices apartment seekers, the next step is transitioning that awareness and engagement to action. Platforms like Facebook, Instagram, and Twitter are ideal for moving your prospects along the journey from followers to residents with authentic, relatable content and stellar customer service. With a strategy centered around content that resonates and entices your prospects to learn more, there’s an 87% chance they’ll visit your community’s website. And once you’ve successfully turned apartment seekers into followers, and followers into web traffic, the next phase is to convert that traffic into signed leases. For more on that formula, read here.
Aside from generating awareness and traffic, social media is a tremendous resource for your team to capture valuable insight into apartment seekers. Here are a few key metrics to consider when marketing your property on social:
User Activity: What days and times are your followers active on social media? Across platforms, this will help you determine the best time(s) to post content that converts.
Engagement: What types of content compel your followers (and the casual explore feed/hashtag browsers) to take action? Use insights and analytics to see what content performs best, and double-down on sharing the types of posts that get your property noticed.
Polls & Comments: Some of your best direct feedback will come in the form of comments, DMs, and poll responses. This rich data will grant you insight into what your prospects are looking for, and how you can best meet their needs on social, your website, and inside your leasing office.
Conversions: If you’ve ventured into the world of paid advertising on social media, the insights you’ll have access to can truly be a driving force for leasing up your community. With social media ads and enhancements like Prospect Generator and Prospect Chat, you’ll be able to track conversions directly — from online guest cards to web traffic and leasing applications.
Undoubtedly, social media is a powerful tool for communities in every stage of the property life cycle. From new construction to stabilized assets, social media can support almost every marketing objective — including brand awareness, driving leases, and customer service. To learn more about leveraging the dynamic capabilities of social media for your property, contact us at email@example.com!