As the multifamily industry continues to evolve, some practices are essential to keep top of mind. 2020 brought massive change to the industry, and 2021 was no different. Now, looking forward to 2022, you may be wondering what’s on the horizon. We’ve got you covered with the multifamily marketing trends to watch in the upcoming year.
Increasing Social Goodness
Social goodness is one thing more and more prospects, residents, and employees are becoming aware of. They want to know what impact companies are making in the world. In the realm of property management, individuals are wanting to see higher involvement through community efforts at the property level. This impacts not only the world around you but also the reputation of your company and communities. Residents are also highly considering social goodness as part of the resident experience. People are looking for easy ways to get involved in causes around them and providing opportunities to make a difference is crucial.
We caught up with Paul Edgeman at Thrive Communities, they recently created a “Strive to Thrive” internal organization to coordinate their efforts and maximize organizational impact – Thrive’s teams have had a blast building tiny houses, partnering with Move for Hunger for consistent measurable food donations, and organizing clothing drives for aspiring professionals in need.
First-Party Data Takes Over
Meeting consumers at their first touchpoint can tell a lot about their behavior and what’s working — that’s where first-party data comes in. For example, BetterBot collects first-party data because it is the first touchpoint. With the reports that are available in BetterBot’s dashboard, you can see where traffic is coming from and how they interacted with the information you’ve provided. You’re able to see what renters really want to know and where they are actually looking for their next home. This data becomes important because it helps your team make big decisions like where to allocate spending.
Short-Form Video Marketing Efforts
In the past few years, content creation has become increasingly important. In fact, social media posts with videos have 48% more views. Social video generates 1200% more shares than text and image content combined. One trend that is occurring more and more is an increase in short-form video marketing efforts. Christina Singleton, Co-Founder of Show My Property (SMP), the apartment industry’s biggest provider of video content, recommends short-form video released weekly onto social media feeds, a video advertising strategy that suits each platform (it’s not one size fits all), and a website video to live on the top third of your homepage, on loop – for the greatest success. Video content should be one of the following: authentic, beautiful, funny, inspiring, emotive. One of these will evoke emotion and create a memory, below is one of Show My Property’s favorites.
Automation of the Prospect and Resident Journey
Of course, the switch to automation may seem daunting. However, it’s essential to embrace the shift so that you can take full advantage of it. Utilizing automation such as chatbots, follow-up processes, and lead nurturing are some of the trends we see more and more of. This trend is not meant to replace humans but to help them. Not only does this provide a great user experience for prospects, but it also helps the teams save time, allowing them to focus on more important tasks. Embracing automation is one thing your communities will want to begin doing in the year 2022 and moving forward.
Again, we know that it can feel overwhelming to think about what’s to come in the year ahead, but it doesn’t have to be! You’ve already taken the first step by researching what trends to watch out for. Now it’s time to put these multifamily marketing trends into action. For more ideas on how to take your marketing to the next level, check out our article about Pandemic Tech Trends That Are Here To Stay & How our Leasing Chatbot Can Help.