March Madness: The Multifamily Industry Edition

March Madness for the multifamily industry

With the busy leasing season and new developments upon us, the competition to stand out among multifamily communities is steep. This marketing tournament is another kind of March Madness, where the quality of your online presence will determine if you will drop out early or end up in the final four. In order to come out on top, you need to leverage the right multichannel marketing strategies that will attract, engage, and convert your leads.

Whenever this season arrives, one thing is certain — there can be upsets when established communities go head-to-head with new communities. In your local residential search, everyone’s going to be vying for that first spot on Google.

With the right marketing strategies, even underdogs can make surprising progress. Well-established communities with great amenities could even lose to a new community by not staying on top of their game. How can your multifamily community get ahead or defend its #1 spot? The answer can be found in having a strong online presence and reputation, while also having excellent amenities.

Have a Clear Vision

One of the basics of brand management is to have a clear objective while projecting a consistently positive image to your consumers. Because the main goal of multifamily communities is to reach their target occupancy, get leases renewed, and establish a great reputation, you need a digital marketing campaign that both promotes your community online and protects your reputation.

Marketing tactics that drive traffic to your community’s website are key, as is generating positive reviews across diverse listing platforms. Anything you can do to boost your online visibility and position in Google search results will help you.

For example, consider:

  • Advertising to rank high in search engine results
  • Using cost-per-impression advertising for an increased frequency in display ad appearance
  • Updating your community’s blog frequently, using strategic keywords to boost your organic search engine ranking
  • Reaching out to current and past residents for reviews
  • Posting frequently on social media and being responsive to users on all platforms
  • Reputation is Everything

    Be keen on managing your online reputation. Higher ratings on platforms like Yelp can earn you higher online visibility without requiring you to pay for your position in search results. In our recent blog on using your online reputation as an inbound marketing channel, we delve a little deeper into how communities with plentiful positive reviews rank higher in searches compared to communities with few or negative reviews.

    In addition, our recent study on the renter’s journey reveals how the majority of residents start their apartment search with Google. They also use online listing sites to digest resident feedback and any other available information before making a decision to go forward and visit the community. In light of this information, reputation management is one of the cornerstones of digital marketing for the multifamily industry.

    Where Do You Begin?

    A good place to start is to evaluate your current situation. How is your occupancy? In what state of repair are your units? How are you ranking in local online searches? Do you have a digital marketing campaign? Are you present on social media and are you using it to your full advantage to interact with leads? Make a list of what you have established and what your community lacks and get to work.

    Play to Win

    Successful teams never take victory for granted and work hard when nobody is watching. As there can only be one victor, make sure you do whatever it takes to stay on top of your game. By integrating your community into the digital landscape, you can turn an underdog community into a Cinderella story or defend your title as the best multifamily community in your local search.

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