The multifamily industry is one SOCi is very familiar with, and it’s become apparent that Millennials are currently dominating the apartment rental market. Most people ages 18-34 are looking to rent, not buy, for several reasons, including recovering from student loans or enjoying the convenience of city life.
Multifamily real estates have taken notice of this, and have developed the desire to connect with millennials on a more familiar marketing ground: social media. Numerous companies are finally jumping onto the Facebook, Google +, Twitter and Instagram wagon, but the question remains of what Millennials really look for from companies they seek to rent or buy products from.
While there are many factors that go into making a company a social media superstar, this post will focus on having specific content, being authentic, and using visuals.
Focus on selling a lifestyle rather than a product (in this case, an apartment). Instead of simply listing the amenities, demonstrate how they can improve your target audience’s life.
For example, rather than posting a link to your amenities page with a photo of the pool, paint a picture with words and show Millennials how they will feel if they’re using the pool: “Bask in the warm San Diego sun after a fun game of pool volleyball with your friends!” If your location is near a university and the majority of your residents are students, post a picture with books and coffee on the table of the business center and note how it’s a great, quiet study space. If and when possible, also post about local events and businesses your residents may be interested in.
Don’t forget: good content is King, so be sure whatever you do post is relevant and relatable.
Millennials want to know that the companies they connect with are not simply robots or large corporations treating them as a transaction, but rather a person who seeks to build a connection with them. Building a sense of community can be easily done online by posting resident/community updates, holiday greetings, local events, and topics relevant to the residents (i.e., interior decor, recipes, DIY, and so on).
Be sure to respond to posts or messages in order to build relationships with your residents, and so others can see that you’re responsive and care about them. Millennials prefer to be informed and involved, so posting social media updates is a good place to start.
Humans are visual creatures, and so posting images and videos will catch their eye versus a large body of text.
In fact, people only absorb about 10% of the things they read or hear about, but when paired with a visual, they remember about 65% of the material three days later.
Try A/B testing with BitLys and link photos to see what brings a better reach and what your audience is looking for. The size, orientation, and quality of your photos come into play here, so be sure to post appealing photos.
Overall, social media is a powerful way to communicate and build relationships not only with friends, but also with clients. By building a strong social media presence, companies will better be able to understand what their consumers desire from them in terms of products and brand loyalty.
As the multifamily industry builds their relationships with their communities online, they’ll better be able to serve their residents and draw in more interest in their properties.
Of course, trends are constantly changing, so be sure to stay updated on what’s to come by consistently reading and researching.