Top 4 Reasons to Avoid Cutting Your Social Media Budget
Here’s something we’ve heard throughout the years:
“Our property is officially stable and we’ve decided to scale back on the marketing budget — starting with social media management. After all, we’ve reached occupancy. What’s the point in paying for social media services when we no longer need to promote our property?”
Or maybe this scenario is more familiar:
“We’re in a really competitive market and just can’t seem to get people in the door. The owner is really concerned and wants to cut vendor services immediately. He keeps asking — ‘why do we need social media anyway?’”
We’re glad you asked.
There are several benefits to investing in an active, engaging presence across social media. From gaining a competitive edge to maintaining a pool of prospects, these are the top 4 reasons to NOT cut your budget for social media management:
The biggest reason for maintaining an active presence on social media is simply to meet your prospects where they are. With over 1.5 billion daily active users, Facebook alone is one of the most effective platforms for reaching your future residents. With a savvy, consistent brand presence across Facebook, Instagram, and Twitter, each post is an opportunity to engage and boost your property’s mind share with prospects.
When the foot traffic slows down, social media can ramp it right back up with a pool of qualified leads. From posts that drive website clicks to look and lease promotions, a strategy anchored in relevant content that connects with apartment seekers is a proven approach to generating leads from social media. Even if your property has reached occupancy, there’s no guarantee it’ll stay there. Keeping an active social presence gives you a prospect pool to tap into in case of a vacancy!
With services like Prospect Chat from Social Kapture, you can get even more out of Facebook’s remarkable lead generation abilities without spending all day online!
If your marketing budget also included a line item for digital advertising, hang on to your hat! Leveraging your social media presence with paid digital ads takes your ability to convert leads to signed leases even further. With the right images, copy, and a compelling call to action, your promoted posts on social media can generate the foot traffic and application submissions you need to fill vacant units. For a deeper dive into driving leases with digital ads, contact our sales team here.
Based on the first three reasons alone, we’re pretty confident that your competitors are taking full advantage of the social media marketplace. They’re likely investing time and money into crafting a cohesive social media presence to attract prospective residents. If your property isn’t right there competing alongside them, every single benefit and lead will automatically funnel to them. Stay in the race to occupancy with a solid social media marketing strategy!
When it comes to achieving and maintaining your occupancy goals, every property needs a fine-tuned social media strategy and presence. Facebook, Instagram, and Twitter are no longer places for simply sharing personal moments; they’re viable platforms for attracting prospects and converting online traffic into property tours and signed leases.
On the fence about where to go with your budget from here? Contact our team and we’ll help your property get on the right track.