X-twitter Youtube Linkedin

Apartment Marketing Ideas for 2010 and Beyond

I like what Seth has to say about the coming decade –

Change: The infrastructure of massive connection is now real. People around the world have cell phones. The first internet generation is old enough to spend money, go to work and build companies. Industries are being built every day (and old ones are fading). The revolution is in full swing, and an entire generation is eager to change everything because of it. Hint: it won’t look like the last one with a few bells and whistles added.

The accelerating pace of change in the apartment marketing space has been in full swing for nearly the whole of the last decade. It may have seemed slow to some and not fast enough to others but one thing can not be argued – it has changed. And, the coming decade will no doubt bring some crazy amazing uber-cool things to the apartment space.

Apartment Marketing Ideas

Don’t think of this list as another prediction or trends of the coming decade list as it is just some off the top of my head thoughts – some short term some long term and in no particular order and with no premise:

  • It’s all marketing all the time – will take on a whole new meaning
  • It’s not all about heads in beds as giving back un-publicly will take on some level of importance [some will no doubt exploit this publicly]
  • The continued adoption of platforms like Facebook and Twitter will no doubt accelerate –
  • Platforms like Foursquare will gain traction –
  • User reviews will be a common element of your website –
  • Blogs will finally catch real traction and, in my opinion – it doesn’t matter what the content is about as long as it is compelling and adds value – it will be your hub as it relates to the conveyor belt theory of marketing
  • Monetize everything will no doubt be an operating aim for many – I think it’s the quickest way to kill your advocates – think long and hard about this one before you make a move –
  • Participation will become the key initiative across platforms – look for experience marketing with heavy entertainment themes as a way to gain followers –
  • Craigslist as it relates to marketing apartments will be mashed up beyond recognition and it will be compelling, automatic and anticipatory –
  • Print will hang on for a bit but will look far different than it does today –
  • ILSs will experience massive disruption as a result of crazy good UGC and dare I say Google – might want to think about becoming experience marketing creationists
  • Employees will demand participation be a part of their job descriptions –
  • Gen Y will serve Gen Y – this will be massively cool and massively frustrating for those who don’t embrace it –
  • So called gurus and experts will pop up everywhere – I encourage you to become your own guru or expert [the tools are accessible to everyone, they are free and they are easy to use] –
  • A/P and A/R will become 100% digital –
  • Paperless offices will happen –
  • True help yourself leasing will happen –
  • Apartment mechanical systems will self diagnose, check your inventory, order part or replacement if necessary, schedule maintenance and notify residents all along the way –

Just some back of the napkin stuff here – no doubt there is so much more. I will be back to update often

Have a famous new year and I look forward to participating in denting the multifamily universe

M

0 Responses

  1. Mike – with all due respect your perspective suffers from a lack of breadth. What you write seems largely relevant to large operators and property managers, but much of it is not for smaller operators like me. Digital AR and AP? That's a fine idea but hell – most of my tenants don't even have checking accounts. And it's similar with social media. I offer free wireless in my building in part to gauge who the computer users are, and only about 20% of my residents even have them. The same goes with paperless offices, help yourself leasing, and system self-diagnosis. And I'm not alone – there are many, many owner operators in building sizes and price ranges like mine.

    And don't get me started on “monetizing everything”. Again it's a function of perspective – when it's your P&L you are a hell of a lot more interested in monetizing your effort and the effort of the people that you pay to get a job done, and there is no more definitive way to evaluate their success than monetization. So I'm happy to disagree with you on HOW to monetize effort, but I don't buy the suggestion that we shouldn't.

    Reply

    1. Hey D –

      Happy New Year to you.

      I will admit – having spent ten years with Equity Residential and the past two with a 10,000 unit shop – my head swims in the big operation waters .

      I would not disagree with you in the respect of lack of breadth and or lack of perspective relative to the small shops out there. I wouldn't dream of speaking from that perspective as I would bomb every time.

      I agree too – having bought and sold a good deal of one off investment homes over the years – it's all about the flow… in that respect – monetize away. My only thought relative to the bigger players is – people are more and more inclined to opt out than to stick around ad invested environments. I say don't do it because I don't think you can afford to give people a reason to leave as it's to easy to do so today.

      Thank you for the thoughts as I respect your position having followed you for some time now on Twitter –

      Have a flowing new year and I look forward to more discussion.

      Reply

    2. D,

      I would love to have you do a guest post with your perspective – I think it would add some good value to this discussion. Let me know if you are interested.

      Thanks again.

      Reply

  2. Mike – as I posted on twitter – the lack of perspective is mine. With 10k units we are in two completely different worlds. I'd be happy to guest post, but being an owner-operator of a small apartment and SF house portfolio that's deep in the weeds is not really all that sexy. 🙂

    Reply

    1. I really enjoy the un-sexy off the wall maniac stories as much as I enjoy the cutting edge game changing over the top stuff – so – the offer is open. I think great ideas often manifest themselves from far different perspectives.

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Apple Podcasts

Spotify

X-twitter Linkedin Youtube
Most Popular Pages
Topics
Copyright © 2007–2024 Multifamily Collective. All Right Reserved