by threshold | Feb 22, 2022 | Marketing, Thought Leadership
While property management companies, developers, and ownership groups often put great care into marketing the communities in their portfolio, some approach corporate real estate marketing with hesitance and trepidation. After all, marketing a community to potential residents is a completely different ball game from marketing property management services to development partners or development services to potential investors.
As a real estate marketing agency, we’ve worked with corporate real estate brands to not only connect residents to their communities, but also to earn new business for our client partners. From brand guidelines to advertising to website design and more, here are the top takeaways that we’ve derived from years of helping our clients grow their portfolios.
Embrace Your Key Differentiators
Oftentimes, corporate real estate brands get so caught up in meeting expectations that they are afraid to break the mold and show off what really makes them different. But when you’re competing for attention among a sea of competitors, standing out is essential.
It’s understandable to be hesitant. We’ve worked with plenty of property management companies and developers who just want to make sure that potential investors and partners find them trustworthy. Sometimes that desire leads to lackluster branding, websites, and ad copy that demonstrates they are just as trustworthy as anyone else…but not very interesting or unique.
So take time to really consider what sets you apart, whether that’s the region you specialize in, the approach you take to resident experiences, the types of developments you build, or the services you provide for clients. You may have dreams of expanding beyond some of these areas (such as your regional focus), but in the meantime, embracing what makes you unique will help you find the right investors and industry partners to help grow your portfolio and put you in a better position to reach those goals down the road.
Show Your Value With Engaging Case Studies
You can talk about your methods and promises all day, but most potential partners are going to want to see some proof that you can deliver. One great way to do this is with case studies. But not all case studies are made equal.
First, whenever you add an asset to your portfolio—especially those big projects that get everyone excited—lay the groundwork early to collect the data and social proof you’ll need to show your success down the road. Select a leasing management software that makes it easy to track your leasing velocity against the market average and set up Google Analytics and ad tracking so you can accurately measure the success of your marketing through metrics like website traffic, click-through-rates, and conversions. Ask residents to leave reviews on your GMB page and follow you on social media. Even better, get video testimonials from your most loyal tenants and/or industry partners. Collect engaging visuals like renderings, photography, and video as the asset is built and marketed, including images from events like groundbreakings or resident events. Having some or all of these elements in place will help you tell the story of your success when it comes time to create your case study.
There are lots of different ways to execute a case study, so pick one that is well suited to your audience’s interests and the asset you’re showcasing. You might choose to shoot a quick video highlighting your leasing success over time or create a collage of stunning imagery and happy residents to show off the uniqueness of your development (alongside proof points like stats and testimonials). Whatever format you choose, make sure it’s engaging and that the key takeaways are easy for your audience to identify. In other words, don’t just provide a wall of text or a series of images with no context. You want your case study to be short, sweet, and to the point, digestible in five minutes or less so that your audience actually makes the effort to read it (or view it).
Develop Distinct Brand Guidelines for Tenants vs. Partners
While a playful, tongue-in-cheek brand voice may resonate with residents, it may not get the best results from investors or development partners looking for professionalism and reliability. Knowing your audience is essential to effective branding, so consider developing separate brand guidelines for tenants vs. partners and clients. You don’t necessarily have to adopt completely different brand identities for each, but attention should be paid to how your brand voice, colors, patterns, and other elements translate differently when addressing each audience.
This advice is primarily applicable to property management companies who are most often in the position of addressing both tenants and partners on behalf of their corporate real estate brand. While developers and owners are less likely to need to address tenants, the need to adjust your brand expression for different audiences may still apply. Consider the aspects of your branding that best resonate with different audiences—for example, investors, media representatives, developers, and team members may all respond to your brand identity differently, from the key differentiators you highlight to the voice you use to the patterns you incorporate into your communications.
Demonstrate Thought Leadership In Your Market
One of the primary goals of corporate real estate marketing is to inspire confidence in the potential partners who are considering working with you (as well as current partners whose loyalty you hope to inspire). One great way to show off your expertise and unique approach is to create and share content that demonstrates your knowledge of your industry.
So consider sharing articles on social media and writing your own articles on a blog on your website. Or you can create videos covering topics you’re knowledgeable about, which can earn even more engagement than written content alone. Whatever content you create, ensure that potential partners have line of sight to them by posting them on your website and sharing them over social media or emails to your growing list of leads. We also recommend using industry-specific hashtags in social posts. When sharing content made my someone else (not affiliated with your brand), be sure to include a quick commentary or even an in-depth breakdown that shows you have an informed point of view that may be advantageous for your potential clients.
by threshold | Feb 8, 2022 | Creative, Design, Marketing
In the age of digital-first marketing, traditional marketing strategies sometimes become an afterthought for real estate brands. But even if a prospect’s connection with your brand begins in the digital realm, the physical realm is where it reaches its fullest form, and savvy real estate marketers are always looking for ways to bridge that gap.
Branded promotional items are one great way to connect with prospects and residents beyond the digital sphere. Whether it’s branded apparel displaying your community logo or a handy multitool featuring your community tagline, branded swag helps you make a lasting impression that residents and prospects can literally take with them as they consider where to live or whether to renew their lease.
But not all swag is created equal. In fact, most of us in our time have received some branded trinket or other gift that we found completely useless and immediately threw in the trash. How do you ensure your marketing dollars are well spent on promo that makes an impact rather than being wasted on empty gestures that go unappreciated? The following tips can help you use swag to maximum effect, earning more attention, loyalty, leases, and renewals.
Surprise & Delight With Unique Branded Items
Everyone offers T-shirts, mugs, and magnets, so try standing out from the competition with something uniquely tailored to your community. While these standbys are popular for their universal appeal and cost-effective pricing, sometimes you’ll make a bigger impact by offering something unexpected.
Consider including something that your audience will use often, whether at your community or in the surrounding neighborhood. For example, if your community is located somewhere hot, consider branded sunglasses or even sunshades for their car windshield. Or if you’re located near great golf courses, consider a branded cap clip and ball marker combo. If your community features a lot of pet-friendly amenities, a branded pet bandana or chew toy could be the perfect touch. Think about what your key differentiators are and what your audience is likely to actually use and appreciate.
Go All Out on a Giveaway Prize
There are lots of ways to run a giveaway that encourages new leases, renewals, referrals, or social engagement from residents and prospects. Branded giveaways give you the opportunity to splurge on swag that is truly special without spending all your marketing dollars trying to include everyone.
Branded messenger bags, coolers and camping gear, travel bags and tags, laptop sleeves, portable chargers, bluetooth headphones, and other items on the pricier side can become great swag for a lucky giveaway winner.
Plus, giveaways are great opportunities for social media content. Remind prospects and/or residents about giveaway deadlines and generate buzz by posting about it on your social media accounts, then showcase your winner by posing for a picture with them when they pick up their prize (with their permission, of course). You might even choose to incorporate social engagement into the giveaway rules, requiring people to share, tag, follow, or comment in order to be entered for a chance to win.
Turn New Residents Into Brand Advocates With Welcome Packages
A welcome kit with branded swag is the perfect way to wow new residents and make them feel at home in their new apartment. Marketing shouldn’t end when the lease is signed, after all. Delivering an excellent move-in experience helps turn new residents into natural brand advocates, leading them to share their experience with others in person and online. That means you get word-of-mouth marketing, a great online reputation, and maybe even direct referrals that contribute to higher occupancy rates. Of course, happy residents are more likely to renew their lease as well, and retaining residents is far more cost-effective than what you’ll spend on getting new leads in the door.
A little thoughtfulness can go a long way when putting together your welcome package. Consider what someone would enjoy receiving as a housewarming gift. It could be magnets for the fridge, a nice set of coasters, or a mug. It could even include a customized 12-month calendar featuring photos from the community (and the resident’s move-in date marked on it, for bonus points, plus any upcoming community events you may have planned). Including something for their pet too, if they’re moving in with one, can sometimes be the most heartwarming option of all! Pet toys, bandanas, bag dispensers, brushes, and food and water bowls can all be customized with your branding and included in your welcome kit.
Support a Worthy Cause Your Residents Care About
Branded swag can provide unique ways to showcase what’s important to your brand and demonstrate to prospects that you share their values. For example, a branded compost bin or plantable postcards with wildflower seeds can demonstrate your support for sustainability goals like reducing waste and supporting local bee populations. Branded reusable shopping bags and reusable straws (made of metal or bamboo) are also good options.
Start by doing some research on the causes that are important to your target audience, be it sustainability, supporting local artists, animal rights, education, or other causes. Some causes are more challenging than others to show your support for through branded swag, but this can also become useful inspiration for future resident events and partnerships with local organizations.
Boost Brand Awareness With Swag for Employees
Residents and prospects are typically the first priority when it comes to swag, but don’t forget that employees can be your best brand advocates! Giving your employees branded apparel can be a great way to boost brand awareness in your community, especially when worn at events like housing fairs, grand openings, or bring-a-friend resident events.
Plus, the more you reward your management and maintenance staff, the better your resident experience will typically become. That’s because employees who feel appreciated are more passionate about the communities they serve and better equipped to create positive resident experiences that lead to great online reviews and referrals. Plus, their interactions with prospects will be marked by genuine enthusiasm that becomes infectious, leading more prospects to begin an application.
by threshold | Oct 26, 2021 | Digital Marketing, General, Marketing, Tech/Web
The housing market can be a difficult place for Class C and D properties. With older construction, less flashy amenities, and less affluent neighborhoods with fewer public services and attractions, Class C and D properties can struggle to appeal to prospective renters. And with plenty of new developments filling out the ranks of A- and B-Class properties, the competition can seem especially stiff.
But the truth is, there’s a market for C- and D-Class communities; the challenge simply lies in figuring out how to tap into it. From our years of experience in apartment marketing across a variety of property classes, we’ve never met a community we couldn’t connect with the right audience, even amid waves of new starts offering additional competition. If you have a C- or D-Class property you’re struggling to market effectively, here are our top four tips toward better apartment marketing results.
Understand Your Audience
If you’re asking yourself why anyone would choose to live at a C- or D-Class property when there are so many A- and B-Class communities out there, you may be overlooking entire sections of the American renter audience. Understanding who your audience is and what motivates them is the first step to a successful real estate marketing strategy.
Start by letting go of your assumptions. Although you may be starting with some good ideas, it’s also important to overcome any potential bias you may have about your audience, especially if you’ve never lived in a C- or D-Class apartment community yourself and therefore lack this insider perspective.
Instead of operating on your own assumptions, it’s time to do some research. First and foremost, get out there and ask actual people what motivates them when choosing where to live. Conducting quick surveys on the street in the neighborhood surrounding your community is an excellent place to start. If you have trouble finding participants, offering to enter people into a drawing for a prize can help overcome this hurdle. You can also send surveys online, gathering responses through services like Survey Monkey or Qualtrics.
In addition to this on-the-ground research, research the demographic and sociographic information of your neighborhood. You might be surprised how much information you can find for free online. One tool we often use is the ESRI Tapestry Segmentation profiles, which provides demographic and sociographic info for over 60 different audience segments in the US. ESRI also has an in-browser Know Your Neighborhood app which allows you to look up audience segmentation info by zip code (scroll down and click “Explore Your Zip Code”).
Don’t Be Afraid of the Word “Affordable”
Now that you’ve ditched your biases in favor of a data-driven approach, it’s time to overcome another common instinct we tend to see among apartment marketers, owners, and property managers. If you’re afraid of the word “affordable,” you’re far from alone. But avoiding this term doesn’t serve you or your audience.
The truth is, one of the primary reasons some residents are drawn to Class C and Class D communities is because they know they’ll get a better deal that suits their budget. For many, cutting-edge amenities and brand new interiors are simply out of their price range, or they’d prefer to save the extra money they’d otherwise spend on these nice-to-haves and instead focus on the essentials. Don’t snub this audience by avoiding terms like “cheap” and “affordable” like they are dirty words. In nearly every market, keyword research shows that search terms including the words “cheap,” “affordable,” and “low cost” get plenty of search volume, revealing just how many are interested in precisely that. By including these words in your website and ad copy, you help this audience weed out the communities that don’t fit their needs and find a community that is perfect for them—namely, yours.
Just in case you still have some hesitation, consider this: There certainly are those for whom “cheap” and “affordable” carry negative connotations. Some prospects will indeed see those terms and use that as a reason to not click on your ad or your website. But this is actually a good thing. The more you qualify your audience by connecting with people who actually want what you offer, the less time, energy, and money you waste on prospects who are more likely to look elsewhere.
Show Your Online Reputation Some Love
Class C and D properties tend to be on the older side, which means you’ve had plenty of time to accumulate reviews—and we all know people are more likely to leave a review when angry than when they’re satisfied. Plus, older communities tend to face added maintenance challenges, which are common catalysts for negative online reviews, even if those challenges are resolved later. Not only that, but for Class C and D properties who are in neighborhoods that enjoy less financial stability and less access to public services tend to face higher instances of on-site vandalism, theft, and other crimes, which is also a common reason that some upset residents are inspired to take their concerns online.
These overlapping factors can all come together to spell disaster for your online reputation if you’re not careful. But there’s a lot you can do to turn your reputation around and show residents both current and future that you care. To see the tips we’ve compiled from our own Reputation Management experts, check out the posts below.
How To Make Online Property Reviews Work for You
How to Give a Boost to Your Business’ Online Reputation
Enhance Your Online Visibility
Do you have a modern website? Updated Google My Business page? Social media accounts? Active search ads? Just because your building may be older doesn’t mean your marketing tactics have to be. These days, nearly every housing search begins online, so enhancing your online visibility is one of the quickest ways to connect with your audience.
For starters, be sure to keep your Google My Business page up to date. Even if you don’t have a shiny new website with great UX, simply having an up-to-date GMB page with accurate contact information, leasing office hours, and property photos helps make you visible to the wide range of prospects who begin their apartment search on Google.
If you don’t have that shiny new website with great UX we mentioned, it might be time for an update. It doesn’t have to be anything fancy, but an outdated website with broken links and missing information is easy for prospects to spot and likely to disqualify you early on in a prospect’s buyer journey. If building a new website from scratch isn’t in the cards, consider at least creating a single landing page with all your most important information and links to apply online. A single landing page can be cheaper, quicker, and sometimes just as effective as a multi-page website.
Finally, get in front of your audience with strategic ad campaigns. For example, YouTube ads are a great awareness tactic, especially for Gen Z and Millennial prospects. And you don’t have to have stunning photography or videography assets to make them work for you—stock photography and videography, paired with upbeat music and a compelling message can be all you need to make a difference. Geofencing may also be a useful tactic to reach more renters who may already be living or working in your neighborhood and looking for a place to live. And Google Search Ads are a must for driving site traffic and conversions among prospects who are actively searching for housing.
by threshold | Oct 12, 2021 | Digital Marketing, General, Marketing
Gone are the days when senior living was a monolith (if those days ever indeed existed). Where once the ideas of the “retirement community” and the “nursing home” were all seniors had to look forward to, now adults of retirement age have more of the options they deserve. Nowadays, Assisted Living and Memory Care communities are joined by Independent Living and a new boom of Active Adult housing that is quickly becoming the new face of senior living.
As senior living options expand, so too have the types of people senior apartment marketers must appeal to. In fact, senior housing has long had two primary audiences: folks of retirement age for whom living independently has become difficult and—sometimes more directly—the adult children of seniors who are looking for a home where their parents will be cared for. Now, in addition to these two groups, senior housing caters to additional segments, such as adults seeking to downsize after years of home ownership but not in need of additional care or a place to “slow down.”
As new developments and new generations of seniors converge to redefine the market, senior apartment marketers may well be due for an updated look at the expanded and shifting audiences their branding, creative assets, and digital tactics must now appeal to. Perhaps due to these recent shifts (exacerbated, no doubt, by garden-variety ageism), misconceptions still very much plague the industry of senior apartment marketing. So let’s take a deep dive into some of the primary audiences of senior living and what motivates their housing choices.
The Audience of Active Adult Housing
Active Adult housing communities typically attract seniors who have recently reached retirement age (55+) and live independently on a day-to-day basis without the need for additional care. This type of housing community is a relative newcomer to the senior living industry and has represented the bulk of new developments in recent years. Active Adult communities often focus on lifestyle conveniences and concierge-style services along with abundant programming and resident events to provide a sense of tight-knit community and exciting opportunities that outweigh the benefits of owning a single-family home.
With this audience typically consisting of adults around 55-75, it’s primarily Boomers and a few older Gen Xers who are likely targets for Active Adult marketing. This group tends not to see itself as “old” and even though they are so-called “retirement age,” they aren’t always retirees. What defines them as a group is their motivation to downsize, find community, and enjoy the conveniences of renting (like maintenance and added amenities). This decision often comes after parents become “empty nesters” after years of living in a single-family home where they raised their children. This group typically has one or more sources of income without relying exclusively on social security and similar programs. On a related note, this group is predominately affluent and white, resulting partly from the fact that most of today’s Active Living communities primarily cater to a luxurious lifestyle at a higher price point than many can afford, especially adults of color who are impacted by significant wealth and income inequality.
According to ESRI data, this group has the following additional characteristics:
- They frequently use the internet to read up on the news, shop online, and use social media.
- They are generous supporters of the arts and charitable organizations.
- They subscribe to cable TV, enjoying news, sports, and on-demand movies.
- They often use professional services like housekeeping to minimize their household chores.
- They pursue a variety of leisure activities like tennis, golf, boating, fishing, and reading.
- They live active social lives, enjoying museums, live shows, and travel.
- They prioritize a healthy lifestyle, aspiring to good nutrition and fitness habits.
- They are likely to have some college education or even a graduate degree.
The Audiences of Independent Living
Independent Living communities offer some additional care and services to help aging adults live primarily independent lives. These services include things like housekeeping, security, meals, transportation, and access to on-site personal care and health services. Often (but not always), Independent Living communities are combined with Assisted Living and Memory Care communities, making it easy to acquire additional care as needed as these residents age.
While this group includes adults with disabilities at a variety of age groups (some as young as 55), the primary audience for this sector of senior living is older Boomers and members of the Silent Generation (around 70-90 years old). This group doesn’t necessarily live with disabilities, and those that do may be able to manage them without special assistance most of the time. Even so, this group is motivated by the added conveniences of a service-oriented approach to senior living, where things like meals and housekeeping may be taken care of.
This audience includes those who may not be as affluent as those who live in Active Adult communities, but they are still disproportionately likely to be white (compared to the US average). This is likely due to the same systemic wealth and income gaps mentioned before, alongside the fact that younger generations of Americans are more diverse overall than older Americans.
According to ESRI Data, this group also has the following characteristics:
- They are politically engaged, often contributing to political organizations and causes they are passionate about.
- They prefer entertainment options like book clubs, crosswords, sudoku, and card games.
- They enjoy cable TV, including premium channels like HBO, and often watch news, movies, sports, and history channels.
- They use the internet for news and social media, but still prefer to do some things in person, like shopping and banking.
- They like to travel, including visits to foreign countries.
- They shop at large retail chains like Sears, Target and Walmart, appreciating these options for their convenience.
- They are health-conscious, with shopping often including exercise equipment, health foods, and supplements.
These seniors are not the only audience Independent Living marketers must appeal to, however. In many cases, the adult children of these seniors are also involved in the housing decision for this group. In some cases, they are even the primary decision-makers, though often they work collaboratively with their parents to come to a final decision.
This group of adult children is primarily composed of Gen Xers and younger Boomers (around 40-60 years old), though it is also beginning to include a small segment of elder Millennials in their late 30s. When this group is involved in the housing search for their senior parents, they are motivated to find safe communities with a high quality of care at the best possible value.
According to ESRI Data, this group also has the following characteristics:
- They prioritize convenience, reliability, and comfort over cutting edge bells and whistles.
- They tend to live in single-family homes, often in and around large metropolitan areas.
- They are budget-conscious and value-oriented, especially when it comes to choosing the ideal long-term home for their aging parents.
- Many have children of their own who are currently in school and financially dependent on them.
- They rely on the internet for news, social media, shopping, banking, and entertainment.
- They entertain themselves with movies and TV, online gaming, family-friendly activities, and outdoor recreation.
The Audiences of Assisted Living & Memory Care
The audiences of Assisted Living and Memory Care communities have significant overlap with the audiences of Independent Living discussed above, though they tend to skew older as they primarily serve aging adults in need of daily care. Assisted Living communities feature additional care and more regular staff interaction compared to Independent Living. These additional services may include helping residents keep up with their health routines, appointments, and medications, assisting with shopping, and helping with bathing and grooming. Memory Care covers many of these same needs, plus an added focus on assisting seniors with memory loss, Alzheimer’s disease, and other forms of dementia. Environmental safety and round-the-clock care are priorities of these communities in order to assist those whose dementia causes confusion and interferes with independent functioning.
These groups of seniors tend to be members of the Silent Generation, as well as some older Boomers. They typically have one or more disabilities that create barriers to living alone on a day-to-day basis, although their needs can vary widely and many prefer to remain independent in many respects, accepting additional care only where they cannot avoid it. Some seniors in Assisted Living and Memory Care communities have partners, but many are singles living on their own. For more information on these seniors, see the section on Independent Living above.
Because of the specific needs this group of seniors faces, their adult children tend to be even more involved in their senior housing search than in the case of independent living. Appealing to this audience of adult children is especially important when designing senior living marketing for Memory Care communities. For more information on this group of Gen Xers and younger Boomers, see the Independent Living section above.
by threshold | Sep 28, 2021 | Creative, Design, General, Marketing, Thought Leadership
Written by Mike Krankota, Art Director
There are a lot of elements that go into creating a real estate brand. Everything from voice and tone to visuals like color palettes, shapes, and patterns must be considered in order to develop a coherent brand identity…but in the process of developing a visually striking brand, design efficacy sometimes becomes an afterthought. When this occurs, marketing results suffer, because if your brand doesn’t stand out from the pack, then it doesn’t really matter how pretty it is. In order to stand out, a brand has to not only be eye-catching, but also interesting and memorable against the backdrop of other competitors. As we discuss how to create effective real estate branding, we’ll focus on logo design specifically, but these principles can and should apply to everything from naming to advertising.
Consider brand logos that you’ve encountered and remember. Chances are very likely that it’s not something that looks ‘trendy’ or similar to other brands in its space. The reason it sticks with you? Boldness. For example, consider the candle aisle at your local Target or similar. Can you think of one single brand that has a memorable logo? Not really. They all kind of look the same. It’s either filigree and florals, or stark and modern. “But,” you may be saying, “who cares about the logo, it’s the scent, right?” But when you do see something that stands out for being different, you’re compelled to at least pick that candle up and give it a sniff.
The same applies to your property. Ultimately, a flashy logo design isn’t going to compel potential tenants to live on that property. It’s going to be the interiors, the amenities, the space, the location. So why even care about a big bold brand?
Easy! Because we want to be bold and eye-catching to make that potential renter stop and take a look. We want something that will pique interest and make that person think, “I could see myself living here.” This is doubly true for new construction. When what you have is a construction site and fence wraps, creating an entire vibe with bold branding is extremely important for pre-leasing and lead generation.
Be smart with your logo design as well. The days of just being able to slap some trees flanking “The Oaks at Washington Heights” or whatnot are over. Consumers have become more sophisticated, and demand brands that are tailored to their lifestyle. More to the point: brands that are tailored to their perceived idealized vision of self. It’s always aspirational. This especially plays into the importance of a decision like where a person is going to live. You’re not just selling a place to store your stuff. You’re selling a community. An area. A lifestyle. And overwhelmingly, people want to feel cool and interesting—and to have their home reflect how unique and interesting they feel.
So how do we do that? By embracing the unexpected. Take elements from the location. Consider the design of the property. Analyze the area. Establish the target demographic. And then the key is to execute based on an idealized aspirational vision of that target demographic. For example, a bold brand that targets millennial creatives who want a live/work/play kind of community is very different from a bold brand catering to active adult senior living. But both can be achieved! It all starts by asking the question, “If I were the target resident for this property, what would be a logo that would inspire me to stop and learn more about this cool looking place?”
As you’re considering the answer to this question, don’t fall into the trap of believing everything has to pretty and perfect. Embrace dissonance. Perfectly perfect design is often boring. It’s blandly pretty, with no unique features that create a WOW factor. Imperfections, asymmetricality, bold typographic choices, and even unexpected bursts of color can create a pleasantly dissonant effect that will get your brand described with those words all marketers love to hear: Edgy! Bold! Brash! Unique! Interesting!
Ultimately, the goal is not to blend into the neighborhood. If it was, you could simply put a for rent sign out and not even bother naming the building. Your real goal to stand out. Yes, you want to create something that resonates with the community and the target demographic, but you also want to be a linchpin of that community and not simply a cog. In order to accomplish that goal, it’s important to prioritize bold and impactful design choices over elements that are pretty, but innocuous.
