June 16, 2017

The Most Effective Marketing Tool for Multifamily

Dealing with resident complaints, attracting and qualifying leads, collecting rent, engaging residents—these are just a few of the challenges property managers face.

Good communication is the key to success in life, work, and relationships. The same is true for property management in Multifamily. Communication comes in many forms and the trick is finding the most effective tool for your Multifamily property. What is the most effective tool for communication these days? The Mobile Phone.

The reality is the world is being shaped around our mobile phones. To access the phone is to access the customer. So, how do you harness its power to reach your Multifamily residents and attract prospective residents? The answer—text messaging (also referred to as SMS/MMS).

Ask yourself this: If you have something important to send your residents, whether it’s an emergency alert or an event update, would you rather email them with a 22 percent open rate, or text them with a 98 percent read rate?

But what about other mobile marketing methods, like in-game marketing or advertising through mobile apps? While mobile is a huge development in the marketplace, the smartphone isn’t quite as huge. According to Pew Research, only two-thirds of Americans are smartphone users. That means one-third of Americans are unreachable via push notification, in-game mobile marketing, in-app mobile marketing, and so on.

Although other forms of mobile marketing are sleek, innovative and appealing, they fail to generate what Multifamily properties need. Results. Text messaging may not seem exciting, but its effectiveness is unmatched.

The choice is clear—the most reliable way to reach all mobile users is through SMS/MMS. Plus, it’s the perfect complement to traditional marketing campaigns. But, now the question is how exactly do you reach them?

Here are 3 of the best ways Multifamily property owners can utilize SMS/MMS:

1.Lead Generation

  • Attract leads from anywhere using keywords (ex. “info”) and shortcodes (ex: 47464) to better capture or release information. But, where do you promote these keywords? The answer is anywhere– websites, storefronts, campuses, restaurants, apartments, etc. Attracting new residents can be as simple as offering useful property information.

2. Emergency Notifications

  • SMS/MMS are ideal for crisis and emergency notifications because they are faster and more reliable than email or voice. Examples include: bad weather warnings (tornado, floods,), power outages, etc.

3. Community Communication

  • Property managers use SMS/MMS notifications for personalized messages to individuals, select groups or the entire community. Examples include: rent reminders, community events, lease renewals, maintenance scheduling, etc.

All in all, integrating a solution like text messaging into your Multifamily community will not only improve retention and fill vacancies, it will make managing easier. No more waiting for responses, countless emails, or annoying voicemails, text messaging is instant, reliable and your best bet at getting a hold of your audience. Communicate with your residents and prospects via SMS/MMS.