There has been much debate when it comes to the effectiveness of using social media to attract and retain residents. The topic has often yielded mixed results, especially from a marketing perspective.
Culled from recent presentations at the “Multifamily Social Media Summit”, a forum that’s designed for senior- and mid-level regional executives in property management companies looking for effective marketing strategies, social media can bring positive results if used consistently.
One keynote speaker at the Summit was Joel Comm. He’s the New York Times best-selling author of 12 books, including The AdSense Code, Click Here to Order: Stories from the World’s Most Successful Entrepreneurs, KaChing: How to Run an Online Business that Pays and Pays and Twitter Power 2.0.
When someone with Joel’s credentials speaks on the marketing value of social media, I pay close attention. Social media’s results are subjective, but surveys and anecdotal evidence are encouraging.
Mr. Comm’s presentation was directed at “…how the new live video features of applications such as Facebook LIVE, Periscope, Snapchat and others provide opportunities to reach the target market, drive conversation, capture leads and convert sales”.
With many large media companies are competing against themselves, today’s entrepreneurs have a unique opportunity with social media to capture the attention of prospective residents in ways that help to level the playing field.
Joel’s focus was to offer an “… overview of the essential apps & sites, ideas for how live video can be used and examples of how the Multifamily Industry can turn leads into sales using live video”.
So if you ever considered the idea of making a YouTube video to highlight the benefits and advantages of your properties and management, now is probably an auspicious time to learn how it’s accomplished!
The 5th Annual Multifamily Social Media Summit also proposed that “Community Social Media” was, according to surveys, the second most effective way to attract prospective renters. That may surprise us.
This is because the same sources indicate less than half (approximately 48%) of respondents said they’d utilize a community’s social media site. Perhaps the conundrum involves how “magnetic” the site is.
After speaking to numerous property managers and their residents, what I’ve learned confirms this.
Prospects will visit and browse various social media sites and focus on the ones that most often post relevant information and availabilities. They don’t want to waste time watching if it really doesn’t relate.
That makes perfect sense. Why would a prospective resident go to your Facebook LIVE page or your YouTube videos unless they knew they could count on them to regularly bring them relevant info?
“Social media efforts can’t be inconsistent,” one of the Summit speaker’s opined. “Regularly posting the things [that] make your properties a good place to call home will help you brand your business, increase your sense of community and win more leases in the long run.”
So the bottom line takeaway is this: Don’t use a hit-or-miss approach. If you’re going to use social media to market your vacancies and your services, be serious about it and give it at least a year to get results.