Advertising your rental community isn’t as simple as it used to be. And, if you’re a multifamily property manager, you’ve already figured that out. Not only do you have to reach a broader market, but you also have to deal with a more digitally competent group of potential renters compared to the past. More than likely, doing that alone isn’t something you may have the wherewithal for or want to do. That’s how you know it’s time to hire a multifamily marketing agency. With the help of a professional agency, the road to filling vacant units will be smooth sailing. Are you ready to invest in outsourcing your marketing? Start with finding a property marketing agency with a proven track record in helping communities like yours with advertisements, like Primary 360. But you should keep a few things in mind during your search.
Goals and Expectations
Before you’re ready to hire a property marketing agency, you need to have a long brainstorming session about your goals and expectations for a marketing strategy. Some questions to ask yourself (and your team) are:
- Do you want to attract more prospects? Or do you want to retain the residents you already have? Or both?
- What are the unique features and amenities of your apartment community you want to promote? What are your unique selling points?
- Are you running a special (First Month Free, or X dollars off, etc.)?
- Are there competitors in surrounding neighborhoods with an effective social media presence? How are you competing with that?
- What do you want out of working with a multifamily property marketing agency? (One stop shop, ideation/creativity, affordability, etc.)?
- How many leads is my community currently receiving? What’s my current lead-to-lease conversion rate?
- Is social media campaigns my best/only option? What other promotional programs should I be considering?
Once you have these nailed down, finding the perfect agency match will be 10x easier.
When you start searching for an agency, the first thing you need to do is research their experience and expertise in property marketing – specifically with multifamily communities. You want someone who knows what they’re doing. It’s essential to choose an agency that has a proven track record. That’s why you need to look for agencies with experience marketing multifamily communities like yours. (By the way, Primary has over 30 years of experience). In addition to relative experience, the agency should also have evidence of successfully executing marketing campaigns in the past. A strong portfolio of captivating and personalized projects can give you confidence that their staff can create content that resonates with your ideal resident. Next, look at what services the agency offers. Marketing a multifamily property involves a host of different tasks, such as managing social media pages, email marketing, designing print materials, temporary signs/banners, branding campaigns, and more. The agency you choose should be able to handle all aspects of multifamily property marketing efficiently. Usually, you can easily find the services offered by the agency on its website. Evaluate them and ensure they align with your property’s specific needs. Not only does investing in a full suite of services streamline operations and alleviate the burden of managing multiple vendors, but it also creates a more concise voice for your online presence. That’s it, right? Not quite. The last thing to consider regarding an agency’s expertise is its reputation and references. Seek recommendations from other property owners or investors who have previously worked with the agency. This might take some digging outside of your typical online browsing session. Try to find actual testimonials from their clients (in-person, if possible) to gain insights into their experiences—request references from the agency to establish credibility, too.
In addition to expertise, brand
building is another essential aspect to consider when hiring a multifamily property marketing agency. A strong brand can set your community apart from the neighborhood competition and attract quality leads, as opposed to having a constant stream of tours that don’t end with signed leases. You want to take the “potential” out of potential residents and you need a recognizable brand to do that. During this stage of your research, you almost have to interview the agency. In your list of questions, include ones like:
- Does the agency have experience in developing and promoting property brands?
- Can they articulate a targeted strategy to create or improve brand awareness?
- What does the research process look like for finding out information about your community?
- What is your pricing structure? Your typical timelines for deliverables?
Lastly, you want a multifamily property marketing agency that’s willing to not just talk to you, but to also be part of your team. Consistent communication is vital for a successful partnership between you and the agency because it lets you know what’s going on with your investment. Before you hire, assess the agency’s communication channels and procedures to ensure they align with your expectations. Will they provide regular updates on property performance and customer satisfaction? Do they have a dedicated point of contact for addressing your concerns and answering your questions? Don’t forget about reporting though! If an agency isn’t keeping up with analytics and measuring the success of the marketing efforts, there’s no way for you to know whether the applied strategy is working. There’s no room for “I don’t know” in marketing, so set that expectation during your first conversation with an agency.
The Promise of Multifamily Property Marketing
Residents aren’t attracted to standard property marketing strategies anymore. They expect more, so you have to deliver. With the help of a multifamily property marketing agency, you can showcase what makes your community great without the hassle of handling it yourself. At Primary 360, we’re passionate about brand building and everything multifamily! Contact us today to learn how we can take your marketing to the next level.