Apartment marketing
Modern Convenience
First gas stations. Then grocery stores. And now there’s even a fitness club that stays open around the clock.
Do you think the craze will ever hit our business on a mass basis? I don’t mean just the 24/7 concierge, I mean a full on leasing and maintenance team ready to serve.
Thoughts? Click on Comments to leave me your idea. M
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Change Management
Cool Question: What’s not going to change in our business over the next ten years? With so much focus on what is going to be different about our business wouldn’t it be smart to ask the opposite question.
I got the question from an article about Jeff Bezos founder of Amazon.com. He and his team of innovators ask themselves the question on a regular basis to ensure they don’t focused on the pillars of their business.
What do you think will be the same 10 years from now in our business?
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Student Loan Debt
From the pages of the St. Louis Today;
Many in the next generation of workers will be so debt-burdened that they
will have to delay home purchases, limit vacations, and even eat out less
to pay loans off on time.
Kristin Cole, 30, who graduated from Michigan State University’s law
school and lives in Grand Rapids, Mich., owes $150,000 in private and
government-backed student loans. Her monthly payment of $660, which
consumes a quarter of her take-home pay and is scheduled to jump to $800
in a year or so, confronting her with stark financial choices.
Should we label it now? The forever-renter generation?
It pains me to think that the higher-level education system has become a business. It’s losing sight that it’s a place to prepare people for life and toil. It’s a problem today and will only worsen over time.
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Say No to No
I flipped open this months issue of The Harvard Business Review and caught this ad for Shell. Putting all views of the world of oil aside, I love this ad.
It made me wonder out loud about how many times I may have stuffed a good idea because I said, "No, that won’t work, we’ve tried it before."
If you are faced with the powerful motion of NO tomorrow, try saying Yes, Do that!
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Why did you lease?
In the dynamic realm of multifamily real estate, understanding why individuals call a property their home is crucial for growth and success. Traditional marketing strategies often analyze why prospects did not lease, yet there is a transformative opportunity in shifting this perspective. By asking new residents why they lease, we can uncover invaluable insights that affirm our strengths and provide a robust foundation for strategic marketing efforts.
This approach fosters a paradigm shift in how we perceive and utilize resident feedback. It’s a move from a deficit-oriented perspective to an asset-based mindset. This transition is not merely a change in technique but a profound cultural evolution within the organization. It signifies a commitment to celebrating and building upon what works rather than solely fixating on shortcomings.
The insights gained from new residents are a treasure trove of information. They offer a direct window into the most appealing factors about our properties, be it the location, amenities, community atmosphere, or customer service excellence. Understanding these key drivers of satisfaction enables us to tailor our marketing strategies more effectively, ensuring that we highlight these strengths in our outreach to potential residents.
Moreover, this strategy aligns perfectly with the human-centric approach to leadership. It involves listening to and valuing the voices of those who have chosen to become part of our communities. This enhances our marketing efforts and contributes to building a vibrant, engaged community. When residents feel heard and valued, it fosters a sense of belonging, critical for retention and word-of-mouth referrals.
Implementing this strategy requires a systematic approach to gathering and analyzing feedback. This might involve post-move-in surveys, informal conversations, or community events designed to engage residents in sharing their experiences. The key is to ensure that this feedback is collected and actively used to inform marketing strategies and operational improvements.
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