Property management companies are using new technologies to target prospective renters.
The growth of mobile advertising is shaking up the way businesses are marketing products and services, and property managers have the ability to draw in prospects with a click of a button.
Mobile users are constantly tuned in to their devices, opening the door for businesses to connect on-the-go consumers with relevant products and services through location-based marketing. According to Pew Research, 74% of smartphone users ages 18 and older use their device to get directions and information based on location.
What is location-based marketing and how does it work?
Using technology built into today’s mobile devices, marketers are able to target users within a certain geographic area. It is often more subtle than other marketing initiatives—as the days of traditional marketing strategies alone are long gone. Today, apartment marketers have the opportunity to innovate and cut through the marketing “noise” by using location-based mobile tactics to reach prospects.
Waze, the world’s largest community based traffic and navigation app, is leveraging the power of mobile navigation to connect businesses and consumers in a fresh, new way. Owned by Google, the app connects drivers to one another, helping people create local driving communities that work together to improve the quality of everyone’s daily driving experience– from helping avoid traffic and showing others new routes to a destination, to clueing them in to a police trap.
Marketers have the opportunity to put their business on the Waze app, putting them on the map to reach a community of millions of drivers on daily commutes. Much like the businesses pictured below featuring a Chick-fil-A and real estate company, businesses who advertise with Waze appear to drivers approaching their location or searching nearby.
What does location-based marketing mean for property managers?
Property managers have a new, innovative way to target and connect with prospects with mobile, oftentimes without prospects ever realizing they’re viewing an ad. Prospective residents often begin an apartment search by driving around areas they are interested in, with their mobile device navigating the way. What if they were to receive a push notification during the drive, alerting them of a property’s holiday weekend discount? In-app notifications provide a platform to showcase deals and special property features, and simplify the home search for prospects.
Waze isn’t the only company to offer up its functionality as an advertising platform—Apple Maps Connect also utilizes location-based technology. Property management companies can input details like a phone number, website, unit price range, and more into the app, and this information then becomes accessible to nearby consumers. After clicking on the company’s icon, the user sees the details provided by the company and gets directions to the leasing office.
Last fall, Facebook also began to target local customers through local awareness ads. These enable businesses to display ads to individuals in close proximity, maximizing the likelihood of drawing them in for a visit. Local awareness ads are not tied to a mobile navigation tool, but Facebook utilizes geolocation and its 798 million daily active mobile users to connect businesses with nearby on-the-go consumers. So if a prospective resident is out for a stroll near a multifamily property, an ad could appear in the corner of their Facebook profile encouraging them to come in for a tour.
SnapChat recently introduced sponsored geo-filters, or digital stickers tied to location that can be added to photos taken in the app. While these geo-filters were previously limited to names of cities and major attractions, a select group of companies like McDonalds are paying up to have their logos and images appear when the user steps into their business. Now, imagine if a resident sitting poolside in your apartment community were able to add a geo-filter with the company logo to their SnapChat photo, then post for 300 of their friends to see? Chances are, at least a few of these users are searching for an apartment and will want to know more. Geo-filters provide a creative way for property managers to appeal to local mobile users and leverage the reach customers have on their social networks.
Marketing and mobile spaces rapidly changing in response to Location Based Marketing
The growth of location-based marketing in mobile has created new opportunities. Companies tap into an advertising platform that never leaves the consumer’s side, and provide offerings relevant to their daily routine. Changes to Google have also increased mobile ad effectiveness. Users are now tracked across multiple devices, being recognized on their smartphone as the same user who logged online on their laptop earlier in the day. Targeted ads then appear based on online activity.
By recognizing the power of mobile, property managers can more effectively target prospects and better qualify leads in mobile. Savvy property managers will use location based marketing to target nearby customers. How will you use location-based marketing to get more prospects to notice you?