At Duet at Wilcox the residents aren’t just leasing an apartment, they are joining a community.Ĭould you provide a detailed example of a successful Waterton marketing project? The goal is to try a few angles to find what works best based on the data collected and then adjust the marketing plan accordingly. A well-rounded approach that includes not just advertising-internet listing sites, pay-per-click advertising, paid social posts and so on-but also marketing, content creation, resident events, customer engagement and other strategies is the best plan. Therefore, higher referral fees and well-planned resident events would be a better strategy. Another property might have a high level of resident satisfaction. Maybe aligning with an influencer, such as a foodie or photographer, who would promote a community through their own channels would bring the most bang for the buck. For example, content from the different social media channels-such as posts, photos, blog articles and ratings and reviews-might weigh more heavily on one asset than another due to the demographic or market. The best strategy is one that is aligned with the property’s short- and long-term business goals as well as any aspirations for the property. It would be great if it was just “plug and play,” but a lack of planning will result in poor performance. Love: There’s not a one-size-fits-all answer for the best strategy. What makes a great marketing strategy in today’s multifamily landscape? As a result, we truly see these partners as an extension of our business. We select tools and partners that permit us to take all these bifurcated efforts and streamline them into a centralized system. Our advertising and marketing efforts aren’t valuable if we can’t easily determine the best-performing sources and marketing campaigns, generate leads that are answered by the call center, manage leads in our lead tracker, and ultimately, house move-ins in our property management system so we can remarket them at renewal time. Having marketing products that integrate from the top of the leasing and marketing funnel is key. Love: Waterton uses a variety of service providers that centralize our efforts and allow us to track performance. What marketing tools does Waterton use in its regular activities? Therefore, we are able to take advantage of those opportunities that move the needle. Being aligned with the other departments has allowed us to be more innovative and move more quickly. As marketers, we want to have all the bells and whistles, but without the support of the other departments we won’t be successful. If there’s a new device or app Marketing wants to try, the IT experts will be the ones who develop and implement it, ensuring it is seamlessly incorporated into our workflow and functions well over the long term. Similarly, our alignment with Waterton’s IT group helps us execute new technologies that improve the residential experience. As a group, we are aligned with other departments, such as Capital Improvements and Technology and Application Support. Our alignment with Capital is especially helpful when we are introducing unit renovations or preparing the community for extensive upgrades, as we are able to proactively market our value-add program and communicate the changes to our customers: the residents. Love: Marketing is a member of the Waterton Operations team. What role does marketing play in the growth of Waterton? Virginia Love, vice president of leasing and marketing at Waterton Love discussed with Multi-Housing News what multifamily marketing looks like in the current landscape. Virginia Love, the firm’s vice president of leasing and marketing, has been overseeing these efforts for roughly ten years. The ongoing effort includes developing mobile apps, using social media networks and coming up with creative, perfectly executed strategies.įor investment and property management company Waterton, marketing has always been an important part of their story. Large real estate companies focus entire departments on creating their marketing plan of action. In the case of renters, roughly 80 percent of residents are using online ratings and review sites to gather information about the communities that interest them, according to J Turner Research. The same survey found that 95 percent of homebuyers use websites as a primary source in their search for a new home.
A recent report by the National Association of Realtors titled Real Estate in a Digital Age shows that 48 percent of all firms in the business expect keeping up with technology to be one of the biggest challenges they will face in the next two years. The growing popularity of online real estate platforms and advancements in technology are forcing real estate companies to design comprehensive digital marketing strategies.
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