As COVID-19 continues to affect every industry and individual, many questions are arising within the multifamily community. With sudden economic changes, and a need to save, property managers, and owners are looking to cut costs in a variety of ways. While during this time of crisis, it makes sense to make arrangements, it’s important to know which budget changes are most effective. An apartment marketing budget can be spent on a variety of services, and strategies. With many people confined to their apartment, it’s important to focus on the virtual methods they will turn to. In this article, we’ll discuss five key elements to maximizing your apartment marketing budget. These tactics and tricks will not only be useful in the coming weeks but for the ongoing future.
1. Apts Chat
Transferring to full virtual leasing requires a change in communication. Since residents are no longer able to come into your office, regular virtual communication is a must. Apts Chat is a simple communication method that has never been more relevant. It is a quick, and easy way to connect with all of your residents within a matter of seconds. Through resident texting, you can avoid going door to door or relying on other complicated methods of communication. Apts Chat truly brings tenant interaction to your fingertips by allowing you to send texts directly to all of your residents.
So why texting? Not only is Apts Chat an affordable method, but it is also extremely convenient. Texting has been proven to bring surprisingly positive effects to trusting relationships, and overall business satisfaction. This helps you to save time and to communicate in the most effective way. In the coming weeks, you can use Apts Chat particularly to show your residents that you care. You could also use it to inform them of changes in rent deferment programs or amenity closures. With a variety of information being spread, this allows you to get your message across clearly, and directly. You simply select your contact list, create a message, and send it! It is fully customizable for exactly what you need to accomplish. Now is definitely the time to invest in Apts Chat, so that you, and your residents can stay on the same page.
During this sudden economic hardship, many properties may think that it is best to remove or slow down their PPC (Google Ads) campaigns. However, this is not the ideal method to approach this with. Slowing down, or removing a PPC campaign will only result in a major loss of traffic that has previously been developing. This will be a complete loss of growth and will lead to less website traffic. It is more effective to maintain consistent PPC during this time, as the search engines are changing rapidly to keep up with the large influx of news.
There is going to be a large increase in search terms as more people are at home and spending time on their phones. Not to mention, if your competitors are slowing down their campaigns, you will have a higher opportunity to perform better. The influx of people pausing their campaigns will also make the supply price points lower. Advertising during a slow-down will give you stability and will allow you to not lose your share of voice. It is not the time to disappear. Rather, it is important to continually stay visible to your future residents.
There has never been a better time to optimize your website for search engines. As mentioned above, many people will be removing their online methods, and this availability will give your website the perfect opportunity to be more visible. SEO consists of a variety of elements that can influence the traffic that your website receives. Local SEO is defined by your local listings. There is also on-page SEO such as your page titles, alt-tags, website content, and more. During this time of rapid change, maximizing traffic to your website is crucial. It is one of the most effective, and affordable ways to increase your leads, and leases. Rather than spending your entire budget on large ILS pages, you can maximize your money, by focusing on SEO.
If you’re unsure of where to begin in the SEO process, you can start by re-evaluating your budget plan going forward. In order to decrease the risk of exposure, you can take your efforts beyond ILS pages. From here, you can develop a heightened focus on updating your local listings. It’s important to pay an increased amount of attention towards your local listings right now, as many changes have occurred. Google My Business, Yelp, and Bing have all altered the way that their local listings function for the time being. From here, you can increase your focus, and awareness of your website content. The page titles, images, and paragraphs on your website can be optimized to include local keywords which will help Google to recognize your site. This is the perfect time to implement a bulletproof SEO strategy so that you do not lose your online presence.
Social media is an incredible way to maximize your apartment marketing budget, as the cost is inexpensive, and typically free. During this time of no contact, social media is the perfect method to use for many reasons. Regular posting, as well as social media ads, can lead to an increased online presence, and brand awareness. You can share relevant content, help prospects navigate to your website, involve your residents, and give everyone a fully immersive experience. It is a convenient, and simple way to help everyone within your community to stay informed. Since prospects can’t come to your property right now, this is a great way for them to see what your apartments are all about.
With more, and more people spending time on their phones, social media has received more attention than ever before. Developing a social media plan is crucial right now. You can invest in social media ads, which is an extremely effective way to get in front of your target audience. This will allow you to gain leads, and leases during this challenging time. You can also post vacant units, and showcase your amenities. Facebook and Instagram also provide you with a great opportunity to host a live stream. Consider going live, and putting together a virtual resident event, or do a walk-through tour. for prospects. Regardless of what you use it for, social media will help you to increase your website traffic, connect with current residents, and attract prospects.
Earlier in this article, we discussed the importance of transitioning from using your whole budget towards ILS pages to putting it directly towards your website. Right now, being conscientious about your apartment marketing budget is more than crucial. As the world sits in major economic distress, it’s truly important to put your money towards the digital strategies that matter the most. Focusing on your website at this time will allow for your traffic to grow beyond a short time frame. Not to mention, with a budget focused on your website development, you will be able to divide your money into different elements that all work together to bring you higher-quality leads.
So what does it look like when you’re focusing on website development? At Market Apartments, we call it Smart Marketing. By switching to focusing on your website, you experience more traffic, and therefore more growth. This looks like implementing strategies such as SEO, schema mark-up, automated email marketing, reputation management, local listings, and more. This process allows you to stop giving away thousands of dollars to a large ILS page where you will only stand next to all of your competitors. Focusing on your website maximizes your budget, and is the most affordable, and effective option.
Want more apartment marketing secrets straight to your inbox?
Sign up for our newsletter below!
This post was written by Isabella Housel