Apartment Marketers to Increase Digital Spending in
Industry looks to social, SEO, 3-D technology, virtual and augmented reality and creating personal experiences in 2018.
At the end of 2017, Wood Partners took a deeper look at its marketing position and decided to make significant adjustments to where it spends its dollars.
“We are a merchant builder, so we are in full lease-up mode at all times, which requires laser-focused marketing,” says Steve F. Hallsey at Wood. “We recognized last year that we are attracting more Millennials into our high-end properties and they are making their decisions on experiences and not by using the traditional marketing sources.”
During its past 10 lease-ups, Hallsey has seen Wood’s leases come from three major buckets. The breakdown is 50 percent came from the Internet. 30 percent came through organic marketing and 20 percent through experiences of the property.
More companies plan to spend more money on digital advertising in 2018
Kettler plans to increase spending social media advertising and AdWords. Fogelman Management Group plans to use search-engine marketing campaigns such as social ads through Facebook, Snapchat and Instagram.
Fogelman’s says the company also has its eyes on market conditions. If the market becomes more competitive, the company will be ready.
“We are looking potentially at promotional items for aggressive outreach.
AMLI Residential, too, is exploring 3-D imagery for its apartments, along with virtual reality and augmented reality.
“We are focusing on ways of engaging differently with our residents through things such as text, chat, video and voice,” says Amanda Johnson.
As apartment marketers look to spend on digital strategies in 2018, traditional avenues could continue to lose traction.