Multifamily Preleasing: Interactive is a Great Tool!

Today's renter economy is strong enough -- in many areas-- that preleasing is gaining popularity as part of a multifamily property's revenue management strategy. 

In evaluating a prelease strategy, we'd like to suggest several ideas to consider after you've determined property specifics, audience, features, amenities and the like. We think they'll make your marketing process more effective as you reach out to your audience and enable them to better see your property's value (and values!).

(1) Use Interactive In Your Messaging -- Start Branding: Of course, you've considered your audience but..we're suggesting a bit more as you evaluate marketing messages to the audience.  Are you thinking, Gen X, Gen Y, Boomers ... does it really matter? 

Recent studies suggest that all 3 demographics have much in common (the "Connected Consumer" isn't limited to only Gen Y, for example).  And, your "most connected" consumers are women..regardless of age group.

 

While Gen Y has grown up in the digital age and are recognized as comfortable with technology, there are unique opportunities with interactive systems (large touchscreens and tablets) to connect with all audiences.

Today's consumer wants immediate information. Interactive touchscreens respond to their particular interest. 

Does your visitor want to see if their furniture fits into the your 2 bedroom unit  (which they can't visit)? CPS' interactive SalesTouch Move it/Move it feature allows consumers to select from a "sized" furniture palette and move furniture into the unit.

What about your building's amenities? The pool; the clubhouse; the fitness center -- all still to be built What will they look like?

Neighborhood? Will there be a local coffee shop? How about restaurants in the area?

Key to providing information is making it actionable: provide a way for your visitors to imagine visiting the coffee shop (how about an exterior image) or visiting a new restaurant (highlighting the "best" menu item) or riding the bike trail (how about the sunset along the river?). 

Pre-leasing works best when your audience -- boomers, Gen X, millennials -- can imagine living in your building, the selected unit and the neighborhood.  Interactive touch systems let your visitors start telling stories about how the property will meet their objectives! And, you're building your brand in the process.

(2) Energize Your "Green" Messaging: Study after study suggests Gen Y will spend if a product is shown to be cost effective and eco-friendly.  The latest consumer neuroscience studies suggest boomers appreciate marketing messages illustrating what value will be gained.  Highlighting green's cost-effectiveness is a powerful marketing message for all audiences.

And, while there are lots of "big ticket" green products, your message can highlight that it's the little things that count, too.

Do you have a "green" strategy?  Use your touchscreens and tablets to leverage that message.  Start your eco-friendly messaging at the pre-lease process --  highlighting unit features such as low-flow faucet/toilets, energy efficient appliances and low-e windows.

Build on it with the little things that are part of your pre-leasing process: CPS' SalesTouch offers e-brochures and prints brochures "on demand" and only the desired floorplans.

Add-on with features that come as a result of move-in: e-leases/renewals, streamlined recycling programs..maybe even a community garden.

Keep all of this information in front of your prospects as they're touching to discover your property's amenities and your brand.  Touch is powerful; neuroscience tells us touching a monitor generates completely different brain processes than using a mouse.  If you'd like information regarding CPS' interactive touchscreen system, SalesTouch, plrease visit our website, www.cpsusa.com.

55+: Ideas to Fine-Tune Your Marketing Messages

Many marketing studies (and our own Solutions blog!) spend quite a bit of time talking about the Gen X and Gen Y audience.

As they should: these demographic groups constitute a significant buying segment in today's economy -- whether you're selling big ticket items such as homes and cars or day-to-day products including cable, groceries and cell phone plans.

Interactive touchscreens, CRM: nuanced messaging!

Nevertheless, the Baby Boomer generation is still a noteworthy demographic in terms of purchasing power; fresh insights, based upon Nielsen NeuroFocus consumer neuroscience research, suggest revisiting preconceptions and marketing approaches for this demographic.

In essence, mature minds respond differently to messages, input and information.  Differently doesn't mean less or slower or diminished.

No one wants to be considered "old" or be treated as such -- particularly this generation.  60 is the new 50, right?  Stereotyping doesn't work.

But, did you know that mature brains respond better to positive advertising messages and actually have broader attention spans than Gen X and Y? This enhanced attention span suggests more nuanced messaging is not only appreciated but critical. 

Nuanced shouldn't suggest busy or overly-detailed, however; this generation doesn't like clutter or rapidly changing graphics/information. Progressive Grocer's Boomer Brain Marketing Assumptions: Think Again article suggests, "While the messaging can be complex, the delivery and format should be simple."

Implications for your marketing efforts? Imagine you're 55+ (and take the above comments into consideration): when viewing the Colonial Heritage interactive touchscreen "welcome" image, what message do you take away?  Engaging, peaceful, serene, inviting?  Wouldn't you like to explore more?

Interactive touchscreen sales tools respond very well for this generation: the delivery and format can be specifically designed and consumers are able to progress through your marketing information at their own speed.

Consider your CRM activities, too.  Make your product "top of mind" with easy-to-recall messages -- and utilize an automated CRM system providing repeated follow-up with your prospects.  Keep the messaging positive and highlight what your consumer will gain with the purchase.

Boomers might be a consumer segment frequently overlooked; nevertheless, they continue to exert a major marketplace influence in terms of purchasing power.  Enhance your impact with nuanced messaging!

Interested in exploring how to enhance your marketing program to better respond to not only Boomers but Gen X and Y? We'd love to talk to you regarding SalesTouch and CRM 2.0 software products!