As a tool to target prospective renters, this technology is growing in popularity among property managers.
Some in the multifamily industry may have once had doubts about geofencing’s potential in targeting prospective renters. But fewer and fewer companies remain on the fence about the technology’s current capabilities and future promise. Experts report geofencing is capable of ever more tightly narrowing the search for prospects. Once they’re identified, targets can now be met not just with a banner, but every kind of ad.
Geofencing has a distinct role to play in marketing apartments. It exists at the very top of the marketing funnel, before prospective renters begin to actively search for a rental community. These prospects might be in a coffee shop, supermarket, fitness center or a rival apartment community in the geographic area of the property being marketed. They could be hanging out in a popular entertainment district, or working in an employment hub. Destinations where visitors may be meandering around and checking their phones regularly, such as a green space perfect for a picnic, are thought ideal by marketers.
“We’ve had to reinforce that this is not a lead generation campaign. It’s really focused on brand awareness. In lead generation, leads are already aware. Geofencing nurtures them.”