In today's competitive multifamily market, a strong digital marketing strategy is essential for attracting and converting prospective residents. The following are a few things to consider when building out your digital marketing strategy.

Prioritize Digital Ads:

Paid digital ads are highly effective at driving qualified leads and should be a primary focus of your marketing strategy. Platforms like Google Ads and Meta Ads (Facebook and Instagram) offer powerful targeting capabilities and detailed analytics, allowing you to track results and optimize campaigns for maximum ROI.

Utilize ILSs Strategically:

Internet Listing Services (ILSs) are valuable for reaching a broad audience and driving top-of-funnel traffic. Consider using a mix of traditional and pay-for-performance models to maximize flexibility and cost-effectiveness. Pay-for-performance options like Apartment List, Zumper, and Zillow allow you to pay only for the leads or leases you receive, making them particularly attractive for student housing with its shorter lease cycles.

Build an In-House Marketing Powerhouse:

Consider creating an in-house marketing team with specialized expertise in areas like social media, photography, videography, web development, and SEO. This can significantly reduce agency fees and allow for greater control over content creation and brand messaging.

Embrace Scalability:

Implement scalable solutions that leverage technology and automation to streamline processes and improve efficiency. A programmatic advertising strategy can automatically adjust campaigns based on real-time availability and pricing, ensuring that your marketing dollars are spent effectively. Automated content scheduling can also ensure that your marketing materials are always up-to-date and relevant.

Empower On-Site Teams:

Equip your on-site teams with the tools and resources they need to create high-quality marketing content, such as lifestyle videos and 3D tours. This can enhance your online presence and provide prospective residents with an immersive experience of your properties.

Optimize Virtual Tours:

Virtual tours are a must-have in today's digital world. Offering both virtual and in-person tours can increase conversion rates significantly, as they allow prospective residents to experience your properties from anywhere, at any time.

Measure and Benchmark:

Consistently track and measure your marketing performance to identify areas for improvement and optimize your strategies. Benchmark your results against industry averages and your own portfolio to gain valuable insights and ensure consistent performance across all properties.

Focus on Attribution:

Understanding where your leads are coming from is crucial for optimizing your marketing spend. Utilize tools like UTM codes and dynamic number insertion to track referrals and gain a clearer picture of your marketing attribution. Don't rely solely on last-touch attribution, as it often fails to capture the full customer journey.

Leverage Google Analytics:

Google Analytics is a powerful tool for understanding website traffic and user behavior. Analyze your website data to identify potential issues, such as high bounce rates, and optimize your website for better performance.

Key Takeaways:

• Focus on proven platforms: Prioritize Google Ads, Meta Ads, and ILSs with strong track records and measurable results.
• Embrace automation: Automate tasks and workflows to save time, reduce errors, and improve efficiency.
• Create high-quality content: Invest in professional photography, videography, and 3D tours to showcase your properties in the best possible light.
• Track and measure your results: Utilize analytics and benchmarking to optimize your campaigns and ensure you're getting the most out of your marketing spend.

By implementing these strategies and embracing a data-driven approach, you can create a powerful marketing engine that drives leads, increases conversions, and boosts your bottom line.