How do you beat the "big guys" at apartment marketing?
While many large property management firms and developers have substantial budgets for their apartment marketing, a considerable number of smaller apartment communities don't, so it takes a unique and creative approach to generate leads for your community.
With that in mind, we have put together the top 5 marketing tips for smaller apartment communities.
Local Co-Branding Promotions
While promotion through local businesses, hospitals and colleges have always been a staple of "local" marketing, try taking it one step further. Instead of merely leaving a flyer behind at these locations, try a "co-branding" promotion. An example would be a promotion with a local pizza shop that offers free application fee with the purchase of a pizza. Same can be true on your end. Allow that business to place a flyer in your community. The key to this is building relationships with high-value local merchants.
As a new segment of apartment marketing, "micro-sponsorships" allow brands to spread the word of their communities and projects through social media for a fraction of the cost of typical advertising. In simplest terms, it's paying "micro-influencers" to promote your community. A "micro-influencer" is anyone with a following of anywhere between 1,000 to 100,000 people, that could be a tenant in one of your apartment communities, a local or someone who has engaged with your community previously through social media.
Here is a great article that explains Micro Sponsorships more in-depth:
Neighborhood Facebook Groups
If your leasing agents have time (and they always do), try engaging with local groups on Facebook. Every neighborhood (for the most part), has a local facebook page for residents. This approach can be a great way to get your apartment communities name out there and generate local "buzz."
Attend Local Events
What local events are happening in your neighborhood? These events offer an excellent opportunity to meet locals who may be interested in your apartment community. Don't have the budget for a booth? Walk around and hand out your business cards to vendors, who may pass along your information to customers.
Waze Local Advertising
An exciting new entry into local "search advertising," the Waze travel app now offers geo-based advertising for a little as $2/day. You can reach drivers near your apartment community and target drivers who are near your location with a great ad experience. Setup is relatively simple, and you can track (in real-time) potential customers engaged with your ads.