by threshold | Jan 24, 2023 | Digital Marketing, General, Marketing
Ava Page
Rising averages in student housing occupancy
Year after year, fewer students are living at home and on campus during their college years, opting for off-campus student housing options instead. From pricing to safety to amenities, off-campus luxury student housing is becoming the new norm for many college students. Many student housing properties are seeing an uptick of 10-20% in leasing and pre-leasing compared to just last year.
Even if numbers this high happen to be a one-year anomaly, the fact is, student housing isn’t going anywhere. In fact, it’s only continuing to grow. Whether it be for safety reasons, amenity access, location convenience, pricing, or any number of factors to choose off-campus housing over dorm life, you don’t want to catch yourself falling behind on these marketing trends, or property management trends.
Manage growth expectations
As the demand grows for off-campus housing, so do the expectations for your property. As rent increases, so do the expectations of current and potential residents. See where we’re going with this?
2023 needs to be the year of self-reflection for your property; How can you enhance your amenities? What updates need to be made, both interior and exterior? What needs to be done to improve upon maintenance requests completion, satisfaction, and timeliness?
As you look toward reflection, rebranding, and renovation, your residents need to be at the forefront of your thought process, not only in what they’d like to see but what they’d like to receive. This is why image is just the first step when it comes to keeping up with the expectations of your off-campus housing property.
When looking to rebrand, or even just refresh your property, one of the most important—yet often forgotten—things to remember is to research your competitors. If you’re looking to be the property with the best value, best access, best amenities, etc., you need to be aware of what your competition is offering first, so you don’t join a long list of properties that offer the same talking points in today’s highly saturated markets.
Ensure quality services
Before you begin anything else, as you reflect on your property, you need to realistically understand your value, so you know what your most marketable assets are. When creating a marketing campaign, you must be able to ensure that ALL areas of your property are worth the value—not just the sparkling pool or hi-tech fitness center.
Analyze your maintenance reports, check on those areas that need repairing or updating, and make sure the parking is adequate for your current AND prospective residents—things like these are what is going to set you aside from a competitor with all of the same amenities or price points that you have to offer.
Quality will always rise over quantity when it comes to choosing a new home.
Effectively market rate increases
It’s no secret that rent payments have skyrocketed over the last few years following the rental boom that occurred during the height of COVID-19. While many rental payments are stabilizing toward what’s favorable in the market, people have really begun to see the potential that renting has to offer in different lifestyles—and that’s what you’re going to want your largest marketing point to be, moving forward.
Product type, quality, and proximity are going to be the key factors as you look toward not only improving your property to validate higher rental rates but being able to successfully apply marketing strategies to these higher rates as well. You need to be able to associate an experience with your property and its pricing, rather than just finishes.
Many new builds in off-campus housing have larger floor plan options with individual rent options, so a student looking to move in with friends has the same abilities as one looking to be assigned a roommate. Many properties say new supply leased up to 86% in 2022, which was up 6% YoY (year-over-year).
These numbers prove that as we move forward, there will continue to be a subset of students who will remain willing to pay the higher rates for higher quality, product type, and proximity ratings, as they know they will more than likely spend 2+ years living in these properties.
The success of AI leasing & marketing efforts
As we move into a time where AI has become more normalized than ever, it’s relevant to address whether or not it’s a useful tool in your leasing and marketing efforts, or if it should be left to handle other tasks.
We’ve all been there, dealing with an AI bot for support at a property, store, etc. where we only really want to get in touch with a real person once the bot has proven it can’t help us in the way we need. Is this really something that you want to be handling potential leases and prospective residents?
As Millennials and Gen Z take over the real estate market, both in home-buying and renting, we’re seeing a generation of buyers and renters that value authenticity, and don’t want to waste any time. Studies have shown that AI responses are often seen as stoic, cold, and generic if they’re able to warrant a relevant response at all.
When a client has a question that falls outside the lines of a templated response, they’re left to resubmit whatever information they’ve already inquired about, if they even choose to continue looking for answers at all. At this step, many prospective residents would bounce from the site where AI was being used, resulting in potentially lost leasing.
While AI can come in handy in any number of ways, leasing and marketing aren’t the places where you want to place so much reliance on something that doesn’t necessarily have all of the answers.
You want your residents—both current and prospective—to feel special, and get a sense of personalization from any support they need, and they’re not going to get that from AI.
Standing out in a saturated market
As we’ve discussed how common off-campus housing is becoming for college students, it also means that we’re dealing with a heavily saturated market. Here’s how to ensure you stand out from the competition, and don’t get lost in the shuffle:
Content consumption
Keep in the loop of knowing the content your demographic is consuming at high rates in order to stay ahead of your competitors. This can be done through hosting resident events that follow popular trends, as well as knowing what kind of content to create for your own marketing strategies. This shows you’re taking the time to really understand the needs and desires of your residents.
Create a consistent experience
Ensuring both your marketing and digital marketing efforts follow a cohesive pattern is a huge part of landing a sense of authenticity, and understanding of your brand image with current and prospective residents. Your messaging won’t get the attention it deserves if your marketing strategies seem to be coming from two different areas. (Psst, Threshold can help with that!)
Lifestyle enhancement
As we’ve spoken about how Millennials and Gen Z are taking over the real estate market, it’s important to recognize what areas of your marketing strategy need to change in order to best appeal to this changing audience. For this generation, there is so much more to emphasize than four walls and a roof over their head, and pricing points. Their lifestyle is their priority because they are coming into and establishing their adulthood.
This isn’t a generation that is going to sacrifice the things they want and feel they deserve to save a quick buck or choose the most convenient option—you need to let them know how you’re going to value and enhance their lifestyle, no matter what that may look like.
Before you go
Don’t forget, we’re experts when it comes to crafting marketing strategies that drive leasing results & building high-ranking SEO-friendly custom websites! Need help? Reach out to a CSM or any of our team members to get started on taking your marketing and SEO to the next level, see an increase in traffic, and watch the leads roll in.
For more tips and information about digital and real estate marketing, take a look at the rest of our blogs, right here on our website! You can also subscribe to our email newsletter, or follow us on Instagram, Facebook, and Twitter!
by threshold | Jan 24, 2023 | General
Digital marketing should be in your real estate marketing mix if it isn’t already. Whether you’re marketing a new lease-up looking to drive brand awareness or you’ve been established for a while and want to maintain a steady online presence, your property will benefit from digital marketing. The goal for any marketing campaign is to target the right audience, optimize towards conversion rates and continue to improve on them, increase customer loyalty, and gain better credibility. We’ve compiled a list of the top 8 digital marketing trends for 2023. Let’s take a look!
Gather 1st Party Data Through Forms
The trend to own your own data is growing. Being more proactive on attaining and implementing 1st party data is paramount in today’s day and age. Digital privacy laws are in place across the globe and it shows no signs of slowing down as users are looking to big data providers to become more private with the information they share. Forms are a great way for you to own user implemented data; the form used is a great way to keep the users engaged and to have a better success rate in gathering that data.
Build Your Email Marketing List
Email Marketing is a trend that continues to rise. 89% of marketers use email marketing as their primary method for generating leads. Being able to reach out to users who have subscribed to your email list but have not bought anything yet is a great way to reconnect with an interested user. Plus, you can leverage the first party data you’ve collected to personalize content for more accurate targeting email campaigns. .
Stand Out From The Competition
With many digital applications and tools out there, finding a way to use that application or tool in a new, creative way will help when it comes to real estate marketing. To find a way to get noticed and have users engage with your marketing efforts, you have to stand out among the competition. Consumers are looking for more personalized experiences and content curated specifically for them and their interests. Focus on collecting user generated content for short-form videos for TikTok and social media posts, or utilize surveys in stories or in email marketing to encourage engagement and gain valuable insights into what your audience likes or dislikes. Don’t be afraid to get creative and try something new. The data speaks for itself and will let you know if your efforts are working and resonating with your audience.
Incorporate Real-time Messaging Feedback
Real-time messaging would not be on this list 10 years ago. Consumers expect to get information as quickly as possible, and if you are not utilizing tools that collect information and provide instant responses, you may be missing out. We’re not just talking about answering phone calls. Most consumers prefer to interact with business digitally. Make sure you’re providing communication outlets on your website (chatbots), through social media, and texting.
Get The Most Out Of Influencer Marketing
Influencer Marketing is continuing to boom and doesn’t show signs of slowing down. Through social media funnels like TikTok, Instagram and YouTube, users have built “relationships” with influencers and that trustworthiness is what makes Influencer Marketing a success. As of now, ROI is about $5.50 for every $1 spent. One thing to keep in mind is that influencers are usually in niche spaces so aligning your product to their channels is ideal or your message may fall flat among their audience. Want to dive deeper into how utilizing influencers in your marketing strategy can benefit you? Check out our blog about How The Rise of Influencer Marketing Could Enhance Your Real Estate Marketing.
Provide Online Shopping Gratification
Similar to real-time messaging, consumers want what they want, and they want it now. We recommend removing any blockers that will hinder the customer’s online journey and cause them to look elsewhere. Utilize data from Google Analytics to understand where customers are dropping off on your website and find out ways to help answer questions that might stop them from buying. For example, offer virtual tours on your website or provide video walk-throughs for those who are not able to meet in-person, ensure you have a functioning website and applicant portal, and provide information on your website for those frequently asked questions, like pet fees, parking fees, etc..
Digital Marketing Agencies Are Growing
Outsourcing is a great way to get more done and free up your leasing teams to complete the most important step; converting the lead into a lease. Don’t let limited in-house resources hold you back from expanding upon your marketing efforts. Outsourcing to marketing agencies, like Threshold, could be the difference in small to large growth in your first year. When trying to find the best real estate marketing agency for your goals, consider Why You Don’t Need a Local Real Estate Marketing Agency Partner when making your decision.
Chatbots Increase User Experience
Building upon real-time messaging, Chatbots also have had time to mature. They help answer FAQs, collect first-party data, and provide the user instant information in a digestible way. Plus, they can take care of some of the communication that doesn’t need involvement from a real person, like scheduling a tour.
by threshold | Dec 29, 2022 | Digital Marketing, General, Marketing, Tech/Web
Ava Page
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What is SEO?
Search engine optimization (SEO) is the process of utilizing optimized content in order to improve your ranking on search engines and increase traffic to your website. The best ways to ensure this practice is completed at maximum success are to create high-quality content, ensure quick load time for your website, and create a user-friendly website across all platforms.
Why should I focus on SEO?
The bottom line is that SEO is what will make your website visible, and will in turn ensure long-term equity for your business or brand. Higher visibility will result in higher organic traffic for your site, all without spending a dime on advertising.
Improving your SEO rankings is one of the easiest and most cost-effective ways to drive traffic to your site. 65% of users who search on Google say they will choose organic results over ads, proving that securing a solid SEO campaign can be more effective than paid ads in this arena.
What SEO content should be included on my website?
At Threshold, we happen to know a thing or two about SEO. In fact, it’s pretty much our specialty. So much so, that we’re offering some insight on the top ways to ensure SEO success for your business or brand and how we provide for our clients on custom websites, social media management, and other digital marketing services.
Alt-text
First things first, it’s worth noting that 22.6% of Google searches come from image searches, hence the importance of your website images’ SEO.
Alt-text – sometimes referred to as alt tags or alt attributes – is an included written description of an image within the website. This helps in giving your site and its images a higher search engine ranking, as it enhances the accessibility of your site.
Meta descriptions
Meta descriptions allow you to provide a snippet or summary of your website and all its pages to be shown in the SERP (search engine results page).
A good meta description will entice viewers to click on your page in search engines, increasing your CTR (click-through rate), organic traffic, and lead generation.
Without effective meta descriptions, search engines will rank your website lower, and those potential viewers who do make it down to your listing will turn away from site descriptions that don’t interest them.
Page titles
We’ve all heard not to judge a book by its cover, but in most cases, it’s inevitable.
Page titles on a website are no different! When creating your page titles, you must be sure to let your clients know what they’re searching for, while also drawing their interest.
As far as page titles go for SEO, it’s a pretty similar idea. Search engines are never going to prioritize a website without clear page titles to indicate where they are sending their users.
Keywords
Keywords are where things can get tricky in SEO, and why we recommend you leave it to the professionals – like us!
However, for the sake of giving you a better understanding of why we do what we do when choosing keywords, we’ll let you in on some tricks of the trade.
Keywords are what most often will attract users to your website in search engines. Think about what clients will be plugging into their search engines when looking for a business such as your own – these are the starting points for choosing your keywords.
Another tricky part of keywords is knowing how many to include per page, per site. Include too little, and search engines won’t recognize your site. Include too many, and search engines will avoid promoting your sites due to spam triggers.
Lucky for you, keyword research and implementation are a huge part of our premium SEO services when creating our custom websites.
Linking
Whether it’s to provide examples, deeper dives into the information you’re promoting, or simply linking to other locations within your own website, this is a step you’ll want to pay attention to. Both internal and external links let search engines know that your information is relatable, and oftentimes, verified.
Mobile-friendly
Creating a website that is user-friendly across all devices is something that will contribute largely to your SEO rankings, and it’s because of one simple fact: nearly 60% of online users access the web using a mobile device.
Gone are the days of simply using laptops and desktops to access the internet, and mobile-friendly websites are here to stay. Google and other search engines are simply not going to prioritize a website that isn’t designed with the majority of online users in mind.
This is why creating a mobile-friendly website isn’t something that can be pushed to the back burner to be resolved later – it’s something to look at now, or else your SEO rankings will suffer exponentially as a result.
Before you go
Don’t forget, we’re experts when it comes to crafting high ranking SEO friendly custom websites, and we are here to help! Reach out to a CSM or any of our team members to get started on taking your website’s SEO to the next level, and see an increase in traffic, and watch the leads roll in.
For more tips and information about digital and real estate marketing, take a look at the rest of our blogs, right here on our website! You can also subscribe to our email newsletter, or follow us on Instagram, Facebook, and Twitter!
by threshold | Nov 30, 2022 | Creative, Digital Marketing, Marketing
Ava Page
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Even though many people’s first impression of TikTok users is that they’re all young – far too young to be thinking about buying or renting homes – this mindset couldn’t be further from the truth.
While it is true that the majority of TikTok users (57%, to be exact) are between the ages of 10 and 29, the largest active demographic of that majority are between the ages of 17 and 29 – the perfect age to begin targeting potential renters and homebuyers.
Now, that leaves the minority 43% of users who are over the age of 30. While it may seem like a low number to begin with, one must remember that 43% of TikTok users amounts to 430,000,000 people. Yes, you read that right! That’s 430,000,000 potential users that could be looking for homes to rent, or buy.
When you break down the numbers like that, NOT using TikTok ads seems like a devastatingly missed marketing opportunity, wouldn’t you think?
Why should you be using TikTok?
Algorithm Targeting
TikTok allows its users to see personalized content at a higher rate than any other social media platform due to their specific algorithm on each user’s For You Page (FYP). This allows users to market to their target audiences at higher rates than any other platform, and is exactly why you should jump in as soon as you can!
Engagement
According to a Nielsen study, TikTok users engage more than any other social media, with an estimated 79% of users reading the comments on the videos they watch, and over 50% say they regularly save sound clips or search through hashtags in a video.
Maximize ROI
Overall, Tiktok’s algorithm ensures that the majority of users who will be viewing your ads will already show an interest in real estate, home and apartment renting, buying, or selling. Because of this, a Nielsen study conducted by TikTok found that nearly 90% of TikTok users enjoy discovering new content and products while scrolling. As if that’s not enough, over 50% of responders said they have discovered new products through TikTok ads that they directly acted through when purchasing. Over 80% said that TikTok in general – ads or regular content – inspired their purchases.
What content should you include?
Keep up with trends
- Not only will including popular trends increase your chances of winding up on someone’s FYP, it will also engage users far longer than a bland template and content they won’t recognize. This can be as simple as including a trending song, or as involved as including a dance, challenge, or other trending activity in your content. The more relatable your content, the more views, and eventual leads you will receive.
Use trending hashtags
- Real estate TikTok is no new feat, so take advantage of those who came before you and learn what hashtags are trending in the industry. Including hashtags with your content only increases your odds with the algorithm of landing on more users’ FYP.
Keep your content simple and straightforward
- TikTok is not a place where users come to dive deep into intricate content. If their attention is not caught within the first 2-3 seconds, your ad will be skipped without a second thought. Clear, concise messaging and branding is key for TikTok ads, so be sure and get your point across and gain their attention quickly.
See the numbers for yourself
Before you set up your TikTok ad, it’s important to discuss how TikTok ads can result in increased traffic and lead generation for your real estate properties. Let’s take a look at the numbers:
- Real estate listings and ads with video receive 403% more inquiries than those without
- Video advertising results in 300% more traffic for generating new leads in real estate
- 70% of homebuyers and renters watch video tours before signing a lease or mortgage
- Over 36% of homebuyers and renters say they would sign on a home or apartment entirely online, without ever visiting the property
Bottom Line
With stats like these, it’s hard to say no to using a platform as popular as TikTok, with over 1 billion active users, to streamline your real estate marketing campaign.
By using your ads to drive traffic to your website or landing page, the conversions will soon follow, resulting in a direct increase in property leads.
For more tips and information about digital and real estate marketing, take a look at the rest of our blogs, right here on our website! You can also subscribe to our email newsletter, or follow us on Instagram, Facebook, and Twitter!
by threshold | Oct 16, 2022 | Design, Digital Marketing, Tech/Web, Thought Leadership
Angel Roa
Now more than ever, people are accessing the internet through their mobile devices and tablets. Long gone are the days of desktop-only users! According to StatCounter, a web traffic analysis website, a whopping 59.25% of global online traffic came from mobile users alone, followed by 38.53% desktop users, and just 2.22% tablet users.
This displays the importance of where we must start our design, and where we should be focusing our efforts in making an effective and dynamic real estate website that drives leads. Designing mobile first, and then expanding to a desktop friendly site, is the most user-centric and accommodating to most target audiences.
What is mobile first design?
A philosophy which aims to create better user experiences by starting the design process with prioritizing the smallest screens first. This strategy is often referred to as the concept of progressive advancement. Once a mobile design is in place, designing for larger screens becomes easier and we have the core elements of the design established. Starting a design with mobile also enforces aspects such as bandwidth, screen size, and multitasking capabilities. As you progress onto larger devices, it’s easier to expand the functionality with supplemental elements and features. Remember: it’s always easier to add than to take away!
We’ve put together a few design principles to get us started in our mobile first design stage.
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Users should be at the forefront of your design
- The design of your real estate website must help users solve a problem or complete a task quickly and effectively. Users should easily be able to view floor plans, virtual tours, check availability, call or contact your community, and ultimately, apply and sign a lease. Keep in mind user flow – convenience is key to generating more leads!
- Look at your competitors’ mobile websites and check out what they do and don’t offer. How can you improve your user’s experience compared to your competitors? Maybe it’s adding a floor plan filter to make it easier for prospects to find exactly what they’re looking for. Or maybe you notice that a competitor doesn’t have virtual tours on the website. As crazy as it may sound, over 80% of renters apply and secure a lease without ever visiting the property, thanks to online marketing. Adding virtual tours to your website can increase website engagement and provide a convenient option for people who prefer to tour virtually as opposed to in-person.
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Keep it simple
- Improve content clarity on your mobile site while helping the user focus on what content is most important. This can be done by reducing links in your navigation menu, reducing the number of pages, and keeping borders wide and lines clean.
- Use white space to your advantage to make the layout less cluttered and more readable, which will also improve your SEO and increase organic traffic.
- Prioritize the content you want displayed on the website: Ex: Floor plans, Location, Gallery, Amenities, Blog, etc.
- Prioritize the hierarchy of that content. Understand what the user flow is and how to display the most important content. For example, we recommend prioritizing floor plans because data confirms that people spend the most time looking at floor plans on the website, and it’s usually the first stop after visiting the homepage.
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Incorporate bold and consistent CTAs
- A call-to-action needs to be easily located by users throughout your website. Not doing so can lead to a loss of leads and decreased conversions.
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Adhere to mobile friendly practices
- Choose fonts that are web safe and keep font styles to a minimum.
- Select contrasting colors and make text legible according to Web Content Accessibility Guidelines (WCAG).
In Conclusion
Now that you know what a mobile-first design is and its importance moving forward, we hope you will incorporate this new knowledge into your real estate website to generate more leads. By remembering to put users at the forefront of your website design, improving content clarity, and incorporating consistent CTAs, maximizing your lead generation should be a walk in the park.
For more tips and information about digital and real estate marketing, take a look at the rest of our blogs, right here on our website! You can also subscribe to our email newsletter, or follow us on Instagram, Facebook, and Twitter!
