Out to put a dent in the multifamily universe
Social media is doing nothing more than comingling perfect target
audiences. They are taking most of the guess work out of finding those you want to market to (Myspace, Facebook). How we harness that is the next question. Go where they are and quit trying to get them to come to you. (For Rent and Apartment Guide).
Stay Fluid…
Looking back over my life in the context of Christmas gift giving I have come to notice that the act in and of itself is becoming less and less personal. In my youth, I received actual physical gifts, in my mid to late twenties gifts came in the way of a gift card and this year I had a code sent by email for gifts on Amazon to be delivered at a later date.
I can’t help but to think that as we adopt technology more and more into the mainstream of the apartment marketing business, it will become not unlike this years’ Amazon gift. Impersonal and lacking in emotion.
Now some of you would argue that the coveted 18 to 34 year old market desires to be communicated with via email, IM and or the tools provided by Facebook, MySpace and the like. I would agree with you and in the same breath say that in that case a card in the mail carries more weight than it used to given the advent of all this technology.
People will always cave to the personal touch. Think about it your own personal relationships. Did you enjoy the last time your spouse sent you a text in the middle of the day more so than the foot massage he or she gave you after a long day at the office? Did you enjoy the 334th email forward your Mom or Dad sent you this year more so than the hug they gave you at Christmas?
That being said, I think one way to be different in today’s market is to be more like we were 10 years ago. That is certainly not to suggest that all the above mentioned tools don’t have a place in the apartment business. They do. And they will morph into a more and more successful way to communicate going forward. It is to suggest that the hand-written thank you note will always have affect and relevance.
I have put together an agenda for a team meeting tomorrow and it includes one item.
Technorati Tags: apartment thank you cards, apartment marketing, mike brewer
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So data is very important when it comes to target marketing. And, collecting that data is becoming more and more sophisticated as technology invades our ever more open lives.
[Click here] to see the restaurant of the future and let’s brainstorm the possibilities of data collection for our business.
[Take 20 seconds out of your day and click here to comment]
You have undoubtedly heard of maximizing your mortgage payment by paying 1/2 of your payment every two weeks in lieu of once a month. The fact is you would pay one full payment more in the year than if you paid the traditional way.
Well with that in mind what if we as owner/managers partnered with a local community bank and promoted; All in the Name of Savings.
The promo would encourage people to pay 1/2 of their rent every two weeks thus creating a surplus that we would match $1 for $1 up to $200 or whatever we deem. And, if they renew with us what if we deposit their concessions dollars in their savings account in lieu of giving them rent credits.
With electronic payments becoming more mainstream, it could catch on.
Tell me what you think by clicking [here]
Seth writes of the 7% solution [Read Here]. The basic premise is couched in the ever popular trend of discount brokers in the real estate industry. Seth suggests thinking about moving commissions to 7% in lieu of 4 or 5% as the discounters are now doing. His question is what would you do different in order to substantiate the value of being at 7%.
It is an interesting thought for our business. What if, in lieu if discounted rents or concessions, we came of with amazing value adds to substantiate raising rents in a down market.
What would you add?
Well over 100 million of the prime renter segment flock to these spaces daily. What if a major apartment player owned the lions share of control over the advertisement rights? What would you have?
The way I see it is, why not go where the audience is instead of trying to bring the audience to you? Novel? Not at all but I don’t think it’s been executed in the Apartment space yet.
A
single ant or bee isn’t smart, but their colonies are. The study of
swarm intelligence is providing insights that can help humans manage
complex systems, from truck routing to military robots. [Read about the Theory Here] More to come on this in future posts.
Maybe a little over the top, or is it? Apartment marketing seems to follow the hotel and or the condo market so the following take from Fast Company might not be far off.
By Manhattan party standards, the
opening-night scene inside 344 Third Avenue last May was not unusual. A
hot DJ. Fabulous cocktails. A trio of dominatrices in thigh-high, black
patent-leather boots and top hats, wielding flyswatters. The only
discordant notes were the hour–an unfashionable 7:30 p.m.–and the
location itself: the sales office for a new condo development on East
23rd Street. Not exactly Moomba at midnight. [read more here]
