Should you be on Snapchat? A property marketer’s guide to maximizing social presence.
Snapchat is the next frontier for properties to connect with the most active renter demographic online to date–those who are 18 to 29. Though it’s been a major player in advertising for years, Snapchat is fairly new to the property advertising space. So there is ample opportunity to be one of the first to reach this untapped renter audience.
The first and only multifamily advertising solution for Snapchat launched this year.
Whether you’re already a pro at using social media for your property or discovering new ways to boost brand awareness, it can be tricky to find out which platforms work best. We’ll share the Snapchat basics to help you hone in on the audiences you can reach, which properties will perform best and tips for highlighting your community to take your social advertising efforts to the next level.
Boasting 107 million daily active users in the US alone, Snapchat continues to be a popular social media platform for generations dominating rental demand. Pew Research reported that the majority of Snapchat users were aged 18-29, encompassing both Gen Z and younger Millennial age groups. It’s most popular with Gen Z specifically, with 75% of adults aged 18 to 24 reporting that they use the platform.
This age range is also the most active in the rental market. Millennials are currently the largest generation of renters and Gen Z is quickly catching up with double-digit growth. Gen Z was the only generation to drive higher rental activity in 2021, submitting 21% more rental applications than the previous year. This is in stark contrast to the 8% decrease in applications that were filed by Millennials over the same period.
Moving to larger cities and revamping urban areas, this increasingly influential renter group is also the most tech-savvy adult generation to date. More than any other generation of renters, Gen Z considers technology to be highly important when renting.
Interacting with communities on social media and virtual apartment hunting is second nature to many of these renters. They will seek out communities that offer high-quality experiences both online and in person.
Communities looking to boost brand awareness among high-growth renter audiences are well suited to Snapchat advertising. Lease-ups, student housing communities, as well as communities close to city centers, business hubs and local nightlife, are perfect candidates for connecting with renters on social media.
Snapchat users connect with visual communication, using pictures and images to “show” friends their experiences instead of telling. Properties that are rich in amenities and already showcase these features on their property site and listings will have a head start on Snapchat. Properties can make the apartment-hunting experience that much better for Snapchat users by immersing them in visually rich content that really shows what it’s like to live there.
Reach renters who seek a lifestyle and experiences as well as a new place. Here are a few of the top amenities properties can highlight on Snapchat:
Snapchat can build brand awareness in the early phases of a renter’s search but it also drives traffic. If done right, it is a performance-boosting tactic within a property marketer’s toolkit that sends more traffic to the property website and listings. Snapchat has been underutilized in the multifamily advertising space, likely due to a lack of viable solutions. With new tools and technology cropping up, Snapchat advertising is becoming a prime option for properties looking to open doors to new renter audiences.
Snapchat advertising is a great solution for communities that have had trouble effectively targeting renters on other channels. Where other channels may limit access to in-market renters, targeted social advertising gets your property in front of renters who have demonstrated interest in finding a new place. With advertising solutions like RentSocial., which uses first-party data from rental marketplaces, communities can target Snapchat users that are actively browsing new listings.
Renters want social proof when looking for their new place, and social media has become an indispensable tool for those assessing the ‘vibe’ of a potential community. Social platforms have become vital in establishing trust with the most active renter groups and empowering properties to reach them like never before. By understanding how social channels like Snapchat can elevate the renter experience, multifamily marketers can continuously drive meaningful engagement for their properties.
Get in front of in-market renters with FHA-compliant ads that go live in 24-48 hours. Snapchat for RentSocial., the industry’s first and only solution for the platform.
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