The task of marketing rental properties has evolved. What was once considered the cornerstones of a solid strategy – product, price, place and promotion – are rapidly becoming obsolete. This is due in large part to the growing popularity of digital devices. Today, it’s smartphones and tablets that delineate the apartment search process. As a result, apartment managers are having to adapt and adjust their approach to more closely align with what the modern renter wants. To ensure that you’re on the right path, here are four marketing trends to keep on your radar.
Today’s apartment hunters want more choices.
Your target audience already has a choice in terms of different apartments to choose from. What they want even more than that is additional options. They want to feel as though they have some control over the process and their decisions. The more apartment managers can tailor those options or choices to the needs of their prospects, the better.
Today’s apartment hunters want convenience.
For those seeking an apartment for rent, price has almost certainly been outpaced by convenience. Today’s consumers have been empowered by mobile, which has given them access to instant information at their fingertips. This has fundamentally shifted expectations. Apartment managers can satisfy those expectations by delivering fast, mobile-friendly and self-service options to prospects. The good news is, people are willing to pay a premium for that level of attention.
Today’s apartment hunters want consistency.
Consumers in the digital age expect a seamless experience, regardless of which device they happen to be using at the moment. Apartment searching is no exception. The modern customer journey often involves a migration between and across many devices. In fact, one study indicates that 40% of all transactions begin on one device but finish on another. Make sure you’re delivering the same experience on mobile as you are on a laptop or tablet, and so forth.
Today’s apartment hunters want creativity.
Marketing in the modern era involves more than just slogans or catch phrases. It’s about telling a story. It may sound a bit odd to imagine apartment managers seeking to make emotional connections with potential renters, but that’s exactly where the market is headed. People want to know that the brands they do business with share their values – and yes, that includes apartment managers. Use your marketing messages to tell a story, paint a picture and be memorable.
Like it or not, times have changed and so have the people you’re targeting to rent your properties. Apartment managers that adapt and evolve alongside these changes will be the ones to come out on top in the long run.