May 23, 2022

Your Localized Marketing Guide For Senior, Student, and Multifamily Living Properties

Darcy Bickham

Your Localized Marketing Guide For Senior, Student, and Multifamily Living Properties

Within the world of property management, there are many different types of properties. It's no question that localized marketing is always a must, but should your marketing efforts vary depending on the type of property you're managing? While some marketing tactics can stay the same across property management companies (PMCs), others should be differentiated depending on the property type. We'll focus on multifamily, senior, and student living for this blog and break down the differences between the three. We'll also dive into which localized marketing tactics can remain consistent across all three while also highlighting best practices for each.

A Look Into the Sub-Industries

As you would expect, there are some apparent differences between the marketing strategies for these three types of PMCs we'll be covering in this blog. With those distinctions, come different ways PMCs should be marketing to their target audience. For instance, a senior living facility marketer will deploy tactics that differ drastically from a student housing facility. Here's a breakdown of the three types of PMCs and the differentiating factors of each:

Senior living facilities
1. These facilities are typically targeted toward adults ages 55+
2. Care is one of the main focuses at senior living facilities
3. The rental lifespan is often longer than student or multifamily living
4. Potential residents are interested in the lifestyle of the facility, not just the living quarters
Student housing
1. The target demographic for student housing is 18-24 years old
2. Potential residents are focused on the facility's location - proximity to campus - and cost
3. Lifestyle is big in student housing as well - focused on events and school spirit
Multifamily living
1. From families with kids in school to roommates right out of college, the target audience for multifamily living can vary.
2. Online reputation and cost are significant factors when it comes to leasing.
3. Many potential residents like the ability to communicate through chatbots and social - virtual leasing tours are a big plus.
4. Both prospective and current residents are interested in learning more about the property’s amenities, sense of community, and events.

As you can see, each type of PMC's focus can vary depending on the audience they serve. The way you would market to someone looking to move into a senior living facility will differ from how you market to an 18-year-old choosing a student housing facility. We'll get into more of the details next.

Local Social - What Stays the Same and What Differs

While local social efforts might differ depending on the type of property you manage, there's no question that social media is a must.

An estimated 80 percent of apartment seekers look at social media before choosing their next rental.
Similarly, three out of four consumers say they've discovered a new local offering based on recommendations and posts on social media.

If your property management company isn't leveraging social media locally, you're missing out. There are some must-haves across local social strategies regardless of the type of PMC you manage. For instance, having a social presence at the local level is essential. Ensuring your PMC has local social pages on the platforms where your target audience is spending their time will help you connect with potential residents and win more leases. Localizing the content on your social platforms is a must as well. Data from our Localized Social Content Guide found that localized content performs 12x better than content that is not considered localized. While localized content performs well, it's also important to remember the power of video! Videos are consumers' favorite type of content to see from a company. For more insight into the types of content you can share locally, download the complete guide here.

So now that you understand what stays the same when it comes to local social, what differs? The platforms that your PMC should focus its efforts on are one of the biggest differentiators. While Facebook remains the most popular social platform, Tik Tok is on the rise and the most popular social media platform among Gen Z. If your PMC is a senior living facility, Facebook is likely the best platform to focus your social efforts on, while Tik Tok may be more beneficial for student housing companies. Multifamily housing companies have a more diverse target audience and, therefore, should expand their local social efforts through various platforms like Facebook, Instagram, and even Tik Tok. Once your PMC has its local social efforts in place, you can start thinking about other aspects of your localized marketing strategy.

How Local Search Comes Into Play

Your PMC's online visibility is critical as well. Whether you're in the multifamily, student housing, or senior living, you want to ensure that your target audience can find you online! If your PMC doesn't already have claimed and updated local listings, that's a great place to start. Our blog on the topic breaks it down. Once you have updated local listings with your correct name, address, and phone number, you can start thinking about additional information that should be included. For instance, if you're a senior living facility, the more information you include in your local listings, the better. Residents of senior living facilities often have someone helping them choose a location. If those researching the facilities can get images of your location, details about upcoming events, and answers to FAQs, all by looking at your local listing, it will help your property stand out. As a multifamily marketer, details are also crucial for local listings. Can you include a CTA to schedule an apartment tour? Do you have the option to showcase your property's amenities? What about cost visibility? The more details you include in your local listings, the better! Potential residents prefer convenience, and if they can find everything they want to know about your property without having to pick up the phone, it'll help your PMC when the official leasing decision time comes. Student housing companies should also ensure that their local listings are easy to find and include details. Including images of amenities and images of the lifestyle that comes with your property is a must. For student housing, guardians will often be the ones searching, so including information they will be looking for is vital. If a parent can see how close your location is to the school campus and how much to expect for cost, it will work to your benefit! While the strategies can vary slightly depending on the type of PMC, the basics remain the same! Local listings are a must, and the more information included in them, the better.

Reputation Management Is a Non-Negotiable

While online reputation management efforts shouldn't vary too much depending on the type of PMC you manage, they're still crucial for localized marketing. Eighty percent of consumers consider reviews necessary to their property search. Similarly, 70 percent of prospective residents decided to visit a property with a higher online reputation. Your property's online reputation could differentiate between a resident choosing to lease with your property or a competitor. While you understand the importance of reputation management, with many property locations, it can be challenging to understand what to focus on. Data from our 2022 Localized Marketing Benchmark Report can help.

The report looked at leaders in localized marketing in various industries and how they perform in local search, local social, and reputation. Property management was one of the industries studied. When looking at reputation management, the data found:

PMCs respond to an average of 74.4 percent of the reviews they receive on Google and only slightly more than 50 percent on Facebook and Yelp.
The average PMC studied had a 3.7-star rating on Google, 3.8 on Facebook, and Yelp coming in a little lower at 2.7 stars.
Average review response time could use some help with PMCs taking an average of 42 days to respond to a review left on Google.

As a PMC, you should be meeting, if not exceeding, these averages. If you're looking for ways to improve your online reputation management efforts, our Online Reputation Management Guide for Property Management Companies can help.

Start Building A More Targeted Localized Marketing Strategy

Now that you understand the nuances of localized marketing based on your type of PMC, it's time to start optimizing your localized marketing efforts. With up to 100s of locations to manage, we understand that localized marketing can seem overwhelming. That's where SOCi comes in.

image of multiple devices showing the SOCi platform

Whether you manage multifamily, senior living, or student housing, SOCi is here to help. SOCi is the marketing platform for PMCs and has everything you need to customize your marketing efforts. From local social to local search to online reputation management and beyond, SOCi has you covered. Request a demo today for more insight into how SOCi can help you crush your localized marketing goals and dominate the competition!