Our presentation, “Embracing High-Intent Prospects Throughout the Renter’s Path” offers the latest renter trends with data from Google, and key opportunities for adapting your multifamily marketing strategy to an ever-changing rental landscape.
While attendees will be able to enjoy the full insights from our masterclass, we’re sharing some of the highlights to keep you up-to-speed on the latest in multifamily marketing.
How the renter’s path to finding a home is changing
If you looked back at the digital landscape for apartment marketing ten years ago, it was fairly simplistic. The main touchpoints for renters to discover apartments typically were the property’s website, and their ILS listing.
Today, advances in technology have resulted in many more digital avenues through which renters learn about properties of interest. Not only does this include website and ILS listings, but also social media, Google My Business, search ads, review sites, chatbots, and more.
Renters may bounce back and forth between all of these sources on the path to your property. This means that engaging with them on their preferred channels and displaying a high level of customer service is key to driving them to lease with you.
Challenges for multifamily marketers
Managing the growing diversity of channels is a challenge for apartment marketers. Renters today expect a seamless omnichannel experience. As they bounce from one channel to another, they want consistent information and an intuitive experience.
However, developing intuitive and seamless experiences is easier said than done. According to Google’s research:
- 83% of property management companies (PMCs) could not make connection across consumer touchpoints
- 68% of PMCs lacked automation, relying instead on manual processes
- 78% of PMCs could not attribute value to touchpoints along the customer journey
- 80% of PMCs suffered from inadequate cross-functional coordination
Meeting renter needs in a shifting landscape
According to Google and Qualtrics research, over half of renters are exploring 6 or more apartments and over a quarter are exploring 10 or more.¹ As renters can easily become disengaged in their apartment search due to poor communication or missed expectations, it’s good to review your strategy to ensure you aren’t losing renters in any potential blind spots. Here are a few questions you should be asking:
- Are you advertising with an ILS?
- Are you running any search ads?
- Are you retargeting website visitors with fair housing compliant social ads?
- Have you completely filled out your Google My Business profile?
(Rent. and Google research shows properties that fill out their profiles completely generate 28% more views, and 18% more actions)
- Is your property website optimized to rank on search?
- Do you regularly ask renters to provide feedback via online reviews? Do you respond appropriately and consistently to all those reviews?
(Online reviews are the second most impactful factor in Google Local Pack ranking, after Google My Business content.)
- Are you leveraging automation and smart technology to reduce response times, manual effort, staffing costs and human error?
- Are you able to offer automatic tour booking, virtual or self-touring options, and online applications?
- Are you effectively able to attribute value to each channel along the renter journey?
- Are your marketing, advertising and communication channels integrated and working together in coordination to drive renters to your property?
If you answered no to any of these questions, it may be time to re-examine any potential pain points renters are encountering along their path.
While the digital landscape continues to evolve, it is critical to stay informed on the latest trends and adjust your strategy accordingly. With the right resources, tools and practices in place, achieving omnichannel experiences is possible.
If you’re looking for intelligent, highly-automated and integrated solutions to your marketing challenges, Rent. can help you achieve a better renting experience.