The convergence of leasing, living and marketing with data analytics is changing multifamily marketing. So much that digital marketing is on the verge of a new frontier where property managers and operators can dial into precisely what kind of message they want to send.
“In the past, you could pick up a magazine, flip through the pages, dog-ear the pages and hope the map was right and drive to the property to see what you could find,” recalled RealPage, Inc. Senior Vice President of Business Development Brock MacLean in the recent webcast, “Get the Right Blend to Maximize Leads and Conversions.“
Getting to the precise marketing message through data
Finding the right blend to maximize leads and conversions has always been a challenge for multifamily operators.
Properties that invested thousands of dollars in apartment rental magazines or in the new age of online marketing weren’t always able to match a certain type of renter to a certain type of property or apartment.
The message now can get very precise for a property that may be well occupied in one- and two-bedroom apartments but has a surplus of vacant three-bedroom units. Identifying trends through lease transaction data combined with basic marketing techniques has opened the door for property managers to get better value for their efforts.
Combining data and classic digital marketing
The beauty of available data that identifies rental trends provides marketers the ability to pinpoint what strategies are best. Without data, properties can’t adequately market to the types of renters who can fill immediate needs.
RealPage Business Intelligence dashboards help property operators track metrics from lead generation fundamentals to critical measurements of days on market and lease rates on specific floor plans or apartment types.
On a much higher level, leasing and screening information can provide migration metrics like where renters are moving to and from, offering property managers confirmation of where and when they should spend their multifamily marketing dollars.
Driving higher prospect conversions
Don’t forget the basics of any multifamily marketing strategy: converting when the opportunity presents itself.
Apartment industry data shows that prospects are unlikely to leave a voicemail or call back if they don’t get a live response to an inquiry. Whether it’s through a live chat, leasing office or call center, prospects are more likely to convert when their inquiries are met head-on.
To learn how you can employ strategies and decisions for marketing investment that drive higher prospect conversions, visit RealPage.com.