We know that an 80% conversion rate sounds a little far-fetched, but that is the average conversion rate we see across all of our multifamily chat clients. On average, 81% of prospects who engage with our chat team opt into giving our agents their name, phone number, and email.
This shocking conversion rate is actually a 5 percentage point increase from our lead conversion rate from last year (76%). Our team has been generating industry-leading chat conversion rates for years.
While many businesses view chat as a nice extra or a commodity, we know that not all chat is created equal. Read on to find out why live chat is such a powerful platform for lead development and how our team successfully nurtures prospects throughout the leasing process.
College-aged students live on their mobile devices. Most spend their time watching videos and using social networking sites. Student housing communities have a variety of choices when it comes to marketing on social media video sharing platforms. YouTube, Facebook, Instagram, and Snapchat all have a share of this market’s attention.
Each of these platforms has its own purpose and communication style. In this blog post, we show you where your target market is engaging with video content, the opportunities, and limitations that these platforms provide student housing marketers, and strategies for getting the most out of these communication channels.
Do you know what students type into Google when they search for an apartment? Do you know why some student housing ads get more clicks and impressions than others?
Most multifamily professionals know search marketing is an important component of a student housing marketing campaign, but they don’t know how student housing search marketing campaigns differ from general apartment search marketing campaigns, or what communities can do to stand out from others in the search engine.
By the end of this article, you won’t be like most multifamily housing professionals. You will have a better idea of how students search for apartments and what types of search ads they click on. You will know why some student housing search campaigns perform better than others and how your student housing community can use paid search campaigns to generate more traffic.
As technology evolves, behavior evolves with it. The multifamily industry has been keeping tabs on the millennial generation in recent years as they enter the workforce, rent homes, and build families. While most of the multifamily housing industry has limited exposure to the upcoming Gen Z generation, student housing properties are staring at a new target market. Are the behavior patterns really that different between teenagers born in Gen Z and Gen Z/Millennials in their early 20s?
If you took a sneak peek into thousands of apartment websites’ analytics accounts you might find that they tell a similar story. Most of their website traffic is coming from Google. Google is arguably the most important marketing channel for apartment marketers today, but it’s also one of the most difficult to compete in.
The national apartment market is predicted to grow by over 450,000 units in 2019. According to Fannie Mae’s Director of Economics & Multifamily Research, this will be one of the largest supply increases in the past decade. Most of this growth will be concentrated in ten metros, and as many of you have might guessed, most of this new supply will be for luxury Class A units. (Multifamily Executive)
The industry trend towards new luxury development has been going on for years.
In 2012, only half of all new apartment builds were considered high-end. In 2017, 79% of all new multifamily construction were luxury builds (Yardi Matrix).
A recent Bloomberg article aptly described the situation, “Tenants are gaining the upper hand in urban centers across the U.S. as new amenity-rich apartment buildings, constructed in response to big rent gains in previous years, are forced to fight for customers.”
Luxury communities are competing against more properties than ever for a small, high end portion of the rental market.
If you’re in charge of marketing a luxury community, you might be feeling the affects of this increase in supply. Now more than ever, luxury communities need to take a strategic approach to their marketing efforts. As a leading multifamily marketing agency, we’ve developed and executed successful apartment marketing strategies for many luxury communities. In this guide, we share ideas, advice, and observations from experts throughout our agency to give you our best insights into how to successfully market a luxury community.
The American Pet Products Association’s 2017-2018 National Pet Owners Survey found that 68% of U.S. households own a pet. Last year, RentPath revealed research claiming that 66% of renters are pet owners. In an effort to cater to this growing renter base, many communities have adopted pet-friendly pet policies. Most of these policies allow renters to have up to two pets and they require additional pet rent and a pet deposit.
While much of the pet market is pet-tolerant, not as many communities encompass the true definition of pet-friendly. If your community embraces this pet demographic, there are many ways you can signal to pet owners that your community is a good fit for them. Here are some pet-friendly apartment marketing ideas your community can use to get the attention of pet owners.
If it’s your job to evaluate marketing solutions for apartment communities then you know first hand how overwhelming the process of sifting through different marketing strategies and technology can be. People in our industry are constantly mentioning shiny new tools and processes to improve marketing efforts. It can be tough to determine which strategies are worth trying and which aren’t quite right for your community or apartment portfolio.
We also know that when some of you hear the words “live chat”, you may be thinking “Great, another shiny new marketing tool I have to evaluate”.
Rebranding a community can be a massive undertaking, however, it can provide your community with a clean slate and open up the metaphorical doors of marketing options for your community. In an era where your online reputation is more critical than ever, communities need to be strategic about the choices they make as it pertains to rebranding.
“Build it and they will come” isn’t the makings of a great lease-up marketing strategy. In today’s modern multifamily landscape, you need to have an online presence. Established communities benefit from better search rankings, reviews, real imagery and a social media presence. In this ten step guide, we cover the steps your community can take to establish an online presence and compete with established communities to generate leads and achieve sustainability.
