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It's that time of the year when inquiries slow down and leasing offices become quieter. Many properties might be tempted to scale back their marketing efforts, waiting for the peak season to rev up the engines again. However, this common approach overlooks a significant opportunity.
As marketing experts who have navigated the multifamily landscape for years, we've witnessed firsthand how the off-season can be a golden period for growth and innovation. It's a time when the competition often takes a back seat, leaving a clear field for those looking to capitalize on the gap this leaves. This article isn't just about maintaining your marketing momentum during the off-season; it's about transforming these slow times into periods of strategic growth and opportunity.
We firmly believe that marketing is a year-round marathon, not a seasonal sprint. The off-season presents unique opportunities that, if seized correctly, can set a multifamily property apart from its competitors. Continuous marketing during these quieter months is crucial for several reasons.
Firstly, it maintains brand visibility. When others go silent, your property's voice can resonate even louder. This consistent presence keeps you at the forefront of potential renters' minds, building a sense of familiarity and trust. Secondly, it's an investment in the future. The efforts you put in now lay the groundwork for success in the busier months. Properties that engage in year-round marketing often enjoy a quicker uptick in inquiries and leases as the peak season begins.
Moreover, continuous marketing allows for deeper connections with your current residents. It's not just about attracting new tenants; it's about nurturing the community you've already built. This approach leads to higher resident satisfaction and retention rates, which are just as crucial as new leases.
The off-season is the perfect time to revamp your digital presence. A website refresh, updated social media profiles, and enhanced online listings can make a world of difference.
Search Engine Optimization (SEO) should be a key focus. Optimizing your website with relevant keywords and fresh content can improve your search engine rankings, making it easier for potential renters to find you. Also, don't underestimate the power of a well-maintained blog. It can position your property as a thought leader and a go-to resource for those looking to rent.
Refresh your advertising creative and messaging to avoid ad fatigue. When renters continue to see the same ads over and over, they can start to fade into the background, becoming less noticeable. We recommend updating graphics or simply swapping out images on your rental listings, and refreshing the messaging and creative on your Google Display and social media ads every couple of months.
Seasonal promotions are a great way to refresh your listings and ensure you’re resonating with renters during the winter months. Developing unique offers, such as reduced rent for the first month or waived application fees, and promoting these deals across your digital platforms can make a significant impact. Tailoring these promotions to the season adds a personal touch that potential tenants can relate to.
Show rental rates on your Google Search campaigns with Google Price Extensions. By showing accurate and up-to-date rental rates, you’ll essentially pre-qualify your clicks. Renters don’t have to click to visit your website and hunt for the price, only to find it’s not in their price range. Instead, you’ll make your ads more cost-efficient by attracting only clicks that are already aware of your pricing. This gives you more quality rental leads and a higher return on your advertising investment. Updating your pricing is easier than ever, with dynamic options that can update your rental rates in real-time, aligned with your website.
Learn more about Dynamic Google Price Extensions
Social media marketing is a powerful tool to expand your reach. Identifying which platforms your target audience uses most and creating and sharing content that is engaging and relevant to your properties can significantly boost your brand awareness. High-quality images and videos of your properties, along with active engagement with your audience, can enhance your social media presence.
Paid social media marketing is very cost-effective and an excellent way to boost your brand to your target audience. Channels like TikTok can reach a large audience quickly and have been proven to drive a lot of traffic to your website, up to 400% for some clients. This helps you build up a waiting list over the slower months, so you have an email list ready to go when things pick back up.
Learn more about TikTok Ads
Bundle up! Bundling your rental listings can lead to a significant increase in exposure when compared with non-bundle listings. Choosing a bundle option that fits your budget and marketing goals, and promoting your bundled listings across multiple channels, can be more cost-effective and impactful than promoting listings a la carte. Clients who have opted for bundle promotions (versus a la carte promoted listings) have seen an increase in leads, and up to 66% reduction in cost-per-lead.
Learn more about the Rentals.ca Infinity Bundle
In conclusion, optimizing your digital marketing strategy during off-peak rental seasons is about seizing opportunities and staying proactive. By maintaining continuous marketing efforts, revamping your digital presence, implementing cost-effective advertising strategies, and expanding your network coverage, you can turn the quieter months into a period of strategic growth. Embracing these tactics not only prepares you for the peak season but also strengthens your brand and community engagement year-round. Remember, the off-season is not a downtime; it's a time to innovate and stand out in the multifamily market.
January, 29 2024
January, 19 2024
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