Make Your Multifamily Marketing Boom!

I was recently contacted by a leasing professional who was searching for ideas to market to potential renters for a 55 and over community. While I am happy to share ideas, my goal is to equip individuals with the tools necessary to have continued success. I’m not a one and done kinda gal! Here’s my advice:

• Find out what has worked in the past. Running a traffic report may be a good start, but let’s be honest, most of our traffic goes unrecorded. When it is recorded, we cannot be sure that the information is 100% correct. I suggest, asking again at the lease signing. These are individuals who are serious about your community and have a greater interest in giving you good solid information. Surveying your current residents is another way to find out what works. Start by asking them how they learned about your community. Ask them what resources they used when searching for a home. Ask them what magazines they currently read, what television programs they watch, what websites they visit and where they like to spend their time. Getting to know the habits, likes and dislikes of your current residents can help lead you to new marketing sources…that ACTUALLY work! Need help with a survey? Depending on the survey, it can be a little tricky especially when you are sending opinion/experienced based surveys and requesting feedback. Sometimes just the way a question is asked can inadvertently affect a customer’s response. For an information gathering survey such as this, surveymonkey.com and even Google Forms can be a useful tool. For customer service or more involved surveys, companies like Kingsley Associates or, at times, your current ILS provider are great resources.
• Create a marketing plan. In the words of Antoine de Saint-Exupéry, “A goal without a plan is just a wish.” I don’t know about you, but when it comes to spending marketing dollars, I’m not too keen on wishing for results. All too often, I see property management teams launching reactive marketing campaigns rather than proactive ones. A successful marketing campaign begins with purpose. It requires strategy, research and a little creativity. Before you go aimlessly posting flyers on coffee shop cork boards and delivering candy grams to the neighborhood cleaners, make sure that it is an appropriate strategy for the results you are seeking and the clientele you want to attract. Never made a marketing plan before? No worries! I'm happy to share my 12 steps to creating a multifamily marketing plan for free! Email me at [email protected] for your copy.
• Track your results. Everything you do MUST be measurable. It’s not good enough to make a plan and come up with creative ideas to market to your target audience if you have no way of knowing if it works. Make sure that everyone on the team is aware of the goal, plan and how you will be tracking your success. Then carve out time to revisit your strategies and determine what is working and when you should abort the mission. A marketing plan is a working document that is adjusted and reworked as the market changes, unexpected events occur and you evaluate your results.

Now, what about her question: “How can I market to those 55+?” Like I said, I am happy to share ideas! Here’s 10 ways you could make your marketing BOOM by appealing to prospects 55 and over (in no specific order):

1. Offer free tech sessions. Research shows that Baby Boomers spend 27 hours per week online, which is two hours more per week than those who are between 16 and 34 (Smart Insights, 2017). While laptops or PCs are their preferred device for those 50+, the use of smartphones is on a rise (Statista, 2018). Host regular free tech sessions at your community. This is a great resident event and an even better way to draw in future prospects. Perhaps you could have a speaker talk about cyber security or you can have someone give a Facebook tutorial or another provide smartphone settings help. Ask your residents what they would find most useful, then set it up and promote the event to attract new residents.
2. Write an article. Baby Boomers are big readers. Contributing to magazines or newspapers that target their generation would be a great way to get your community in front of them. Write a piece on the benefits of apartment living. Offer tips for transitioning from a long-term home to an apartment. The opportunities are endless! Just be sure your name and community are included in the print along with your website or a way for them to get more information.
3.  Advertise with search engines. Boomers are going online to search for information making search engines “The best online channel for marketing to Baby Boomers” (DMN3, 2018). Whether you invest in SEO, keywords, targeted ads, or a variety of options available; if you want to be in front of Boomers, search engines will get you there.
4.  Reach out to your local Medicare office. This would be an ideal place to cross-market. Make nice with the office personnel. Ask if you can take information back to your office and offer to leave some brochures of your own. Perhaps offer them your club room or property to host an informational session. Cross marketing is about relationship building, not dropping of a box of cookies and hoping they share your card. Become a valuable resource and you will get referrals!
5.  Utilize Facebook ads. With 82.3% of Baby Boomers belonging to at least one social networking site, and 15.5% spending 11+ hours a week on Facebook, if you aren’t advertising on Facebook you are missing a huge opportunity (DMN3, 2018). Facebook ads are a great way to drive traffic to your website which is where 55+ will do their research. Send them directly to the source. Make it easy for them to find you.
6.  Utilize a direct mailing campaign.  I know it sounds archaic but with the reduction in snail mail, your eye catching mailer is more likely to be seen. What I like most about direct mailing campaigns is that they are usually pretty cost effective and they get results! Sites like uniquelitho.com and lucidpress.com can assist with creating a mailer and obtaining a list that meets your demographic, such as “high-earning seniors” in nearby zip codes. Just be sure your mailer has a call to action and includes a website or place they can go to get more information. Baby Boomers are information gatherers.
7.  Advertise with AARP or other generationally targeted publications or websites. You would think this would be a given, but so many communities stick to the advertising sources of their sister sites even with a diverse portfolio. Being intentional with your advertising is key. You pay good money for those ads so be sure you know the demographic of the individuals who visit the sites and read the pages of the sources you are paying to put you on display.
8.  Create useful content. Baby Boomers like, share and forward information. They want to feel connected and be well informed. Therefore, if you can become a reliable resource by providing useful tips, articles and even videos, they will share your message with their friends.
9.  Advertise on television. Now I know someone just literally laughed out loud while thinking, “There is no way this is within my budget!” That’s where a good marketing plan comes in. Honestly, it may not be realistic for you, but you never know. Some local channels have decent rates for off-peak hours when retirees may be home. This requires good research and may be more attainable than you think. Being that Baby Boomers are watching up to 3 hours of television a day (Global Web Index, 2016) and are less likely to change the channel during commercials, there’s a strong argument for television ads when it comes to 55+ properties.
10.  Utilize your current residents. Your residents are your best marketing tool! Encourage them to send you referrals and while referral bonuses are nice, think about other rewards they may enjoy, like museum tickets, a day at the driving range or a massage. Engage with Boomers on social media. Ask them about upcoming events or activities within their social circles or community that your property could sponsor or attend. Ask them to attend a marketing brainstorming session. These residents are savvy, have a lifetime of wisdom and experience to share and want to be helpful, let them!

 Which of these ideas do you like? Have you tried any of these before? If so, what was the result? Do have a great marketing idea for a 55+ community? Please share your comments and ideas below!

About Katie

The President, of Katie Rigsby Inspires, LLC, Katie shares her experience and expertise with multifamily professionals nationwide through keynote speeches, training and consultations. A multifamily maven, Katie has over 18 years of industry experience both on site and at the executive level. She contributes to the industry by writing for magazines such as Rent & Retain, by serving on her local apartment association board and as a as a faculty member of the NAA Education Institute. A Certified Apartment Portfolio Supervisor, Certified Apartment Manager and National Apartment Leasing Professional, Rigsby couples her industry education with years of experience to deliver an engaging, informative and inspirational learning experience with a side of humor. Click here to learn more!