According to the Pew Research Center, the millennial generation is identified as those who were born between 1981 and 1997. Unlike Generation X or the Baby Boomer segment, traditional marketing methods do not resonate as well with this demographic. It’s all about instant gratification. For example, millennials are much more likely to do their apartment searching online rather than picking up the phone. This makes having your digital “ducks in a row” especially crucial.
Appealing to this younger group of renters can often require a rethink of your current marketing strategy. They want their information immediately at their fingertips and on the go, most likely through their smartphones. Given that, ensuring that your digital strategy is up to date can give your apartment community leverage against the competition with this key demographic.
It’s extremely important to millennial renters that your community is tech savvy. As search continues to skew more towards smartphones rather than desktop, ensuring that your site is mobile-friendly is one of the most important things to do. This is a generation that lives online, and they will appreciate the ability to just tap and go. You may also want to highlight any community activities on your site, as well as include links to all of your social media.
You may be on Facebook and Twitter, but have you thought about expanding to some of the social networks that are heavily favored by millennials? According to AdWeek, millennials are using Facebook less than other demographics, with only 41% checking it at least once a day. Diving into new social media such as Instagram, YouTube or Snapchat can be exceptionally useful for communicating with both potential and current millennial renters. For example:
Online reviews are a fact of digital life. While you can always hope to get great reviews from your current and past residents, the occasional negative review will come up. One of the most important things you can do is to take the time to respond to your reviews, both positive and negative. Millennials put a lot of stock in what they consider to be authentic, and by responding to reviews you show that you care about the community and its residents.
Internet listing sites (ILS) are crucial in the renting game – according to RentPath’s research, 70% of all people use one at some point in their search. Given that, having your listing up to date is essential. Take a look at your listing: Are the pictures updated? Have you adequately described your community, including highlighting some of its great features? Are all of your amenities listed so it’s easy for renters to find you? Make sure your listing captures the essence of your community to help attract not just millennial renters, but also those from other generations.
Want to know more about capturing the elusive millennial market? Check out our downloadable eBook, Marketing to Millennials.