Apartment marketing
Predictive Analytics in Apartment Marketing
Mike Brewer · · 1 Comment
Our good friend Jonathan Saar from The Training Factor wrote a piece a couple days ago that got me thinking about the next steps in apartment marketing. Certainly not to suggest that we have all mastered the last steps but it is fun to dream sometimes.
This is a pure prediction post. No basis. No foundation. No practical application. No case study.
Just sayin’.
Predictive Analytics
Wikipedia defines the term this way:
Predictive analytics is an area of statistical analysis that deals with extracting information from data and using it to predict future trends and behavior patterns. The core of predictive analytics relies on capturing relationships between explanatory variables and the predicted variables from past occurrences, and exploiting it to predict future outcomes. It is important to note, however, that the accuracy and usability of results will depend greatly on the level of data analysis and the quality of assumptions.
The most common use of predictive analytics comes from the credit card industry. Brass tacks – with a few bits of information, companies can predict your propensity to pay on time.
My Early Predictive Analysis Tells Me…
…It is headed to an apartment marketing conversation near you. By this time next year, we will all be talking or will have been talking about the manifestation of predictive analytics as it relates to harvesting big data. Big data to include mining the likes (no pun intended) of Facebook, Twitter, ratings and review sites, surveys (be them third-party or self-administered), property management software (although predictive analysis suggests no chance on that front!), your screening company and other relevant data bases. And, our mathematical models will take all that data to make predictions for us.
They will create and align the perfect personas with the perfect properties that fit those personas and they will send the perfect messages, with the perfect frequency at the optimal times. All behind the scenes.
Your really likes the idea of predictive analysis as it relates to marketing apartments multifamily maniac,
M
PicProps: vjeran2001
Here it comes: Predictive Analytics to Impact Multifamily Operations
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Using Social Media to Market Apartments Redux
Back in 2009 I penned a post about using social media to market apartments. Back then the groundswell was happening and everyone had an opinion about it. And, over the past three years, I think we have all learned a lot. Some of it good. Some of it bad. Some have taken the lessons and left the conversation. Others have bet the farm. While others dipped their toe in, listened, learned, participated, grew and are now providing real value. And, while we were all quietly churning away in our social media bull pens another more than mentionable groundswell was taking place. Fewer multifamily starts and a generation ripe with numbers that we have not seen since the baby boomers hit the scene.
Fast-forward to the second half of 2012, the coastal markets are booming again while the somewhat insulated Midwest lays in wait. In St. Louis specifically, most sub-markets that have hit bottom and are now bouncing along. Some city central, mid-city and west county properties are sporting occupancy gains and rent growth they have not seen in three years plus.
Get these two things (marketing apartments using social media and the near perfect storm of fundamental metrics) in a room together and you have the makings of a home run. At least in my opinion.
Not Using Social Media to Market Apartments?
Now might be a good time to rethink that position. Don’t take my word for it. Take a look at this recent post over at Business Grow (a great blog by the way – subscribe and read every word). I pulled out a quote that I think speaks to my real point.
If you think about, using social media at the university level is the perfect test case for what all our organizations may be seeing just a few years from now:
- Its primary audience uses the social web as its primary tool for communication.
- It is an essential strategy for connecting with, and nurturing, its “customers.”
- The relatively low-cost effectiveness of social media fits with programs under constant budget pressures.
Assiduity and The Why Behind the What
How many of you knew what that word meant? Me either. But, I fell in love when I looked it up. Assiduity – constant or close attention to what one is doing. As I read the word then the definition and then the word again it made me think – get off your ass-n-do-it.
To the point: your near now, now and future residents are growing up digital. Miss the point and miss some real opportunity.
Your big believer in using social media to market apartments,
M
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Apartment Marketing: O.B. Triple Sorry Brilliance
#gameon to the apartment marketing campaign that mimics – in an apartment marketing appropriate kind of way – the O.B. Triple Sorry Coupon marketing story. Love love love this angle – very cool stuff.
WOW
That is all I could say. I had a border line crocodile tear in my eye as I watched this video song apology.
Just a heads up – if you are guy – you might want to use a girl’s name. And, don’t forget to turn up the speakers on your device.
Your crazy impressed with O.B. today multifamily maniac,
M
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Apartment Marketing: Google Now
Mike Brewer · · 1 Comment
I am moving our normally scheduled budget post to Wednesday. My apologies to you that were expecting some number crunching today.
Google Now
Imagine a day when Google understands your interests so much so that it recommends a new apartment living experience. Maybe that is predicated on the fact that you a value shopper in all other areas of your life – Google might recommend a cheaper place to live. Suppose you are a social butterfly who often frequents downtown hotspots but you live in the burbs. Google might refer you to a nice new downtown apartment community.
The information from Google Now is displayed on what Barra referred to as “cards,” tile-sized amounts of information (seen above) that you might find similar to the cards seen in Palm’s WebOS software–think the default weather app on your iPhone.
Apartment Community Interest Graph
I am of the firm belief that the future of apartment search is going to be interest based and will come predictive in nature. And, I think that every apartment community should be working on their digital personality (read: get interesting). I think that apartment community reviews along with a plethora of other data points are going to be intermingled with neighborhood reviews (aggregate of every local business review in and around your community – sort of a neighborhood cool score: think walk-score) and that information is going to flow out in the “cards” described in the quote above. The key going forward will be positioning oneself as interesting.
Your keenly interested in interest graphs multifamily maniac,
M
Pic props: Android News
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Apartment Marketing: Friends of Followers
Quick hit on this Friday following a holiday.
Suffice it to say that we should not only be marketing to the people that we want to live in our apartment communities but also the connections those people have. Think about it, in the world of ratings and reviews and social sharing platforms, people reach out to friends, family and total strangers for advice on where to live.
It’s not a novel concept but I am curious what you are doing to reach those groups?
I have been thinking a lot about how to make an impact on that group and how to compel them to talk about our communities when faced with the question. “Where would you live if you were looking for an apartment?” Or, “I am searching for a new place to live, what apartment community or area of town would you recommend?”
I want my communities to be tip of tongue when their connections ask for their advisement.
What Are You Doing to Make Sure Your Community is Tip of Tongue?
You tip of tongue thinking multifamily manic,
M
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