MARKETING
ASHLEY TYNDALL |
CRITERION.B
3 Steps to Developing a Strategy Around Your
Property’s Social Media
F
acebook ad revenue is expected to
outpace total print ad spending by
the end of this year. Ad spend on
social media is also on pace to outgrow
television ad spend for the first time.
With more and more businesses shifting
their marketing budgets and ad dollars to
the web, developing a social media strategy
is more important than ever.
Chances are, most multifamily
professionals understand that they should
be using social media, but they probably do
not know why or how. Social media is key
to attracting and engaging with residents,
but it’s not enough just to set up your
accounts and schedule a few haphazard
posts a couple of times per month.
So, how can you leverage today’s
powerful platforms and online communities
to achieve your property goals? It all starts
with developing a strategy.
14 | TRENDS
FEBRUARY 2019
STEP 1: IDENTIFY YOUR GOALS
In our experience, many multifamily
professionals are on social media because
they think they should be, but they likely
do not have set goals around their activity
or track any key performance indicators
(KPIs) on a regular basis.
For most property managers,
KPIs like occupancy rate and tenant
turnover are crucial, but it’s important
to dive deeper to think about how your
online platforms impact those KPIs to
determine campaign goals.
For example, if your biggest priority
is to increase apartment lease-ups, we
recommend leveraging social media
advertising to boost blog content, social
promotions, and apartment ads to the
right audience. Facebook advertising offers
detailed targeting capabilities to get in
front of a specific group down to the zip
code, job position, salary, lifestyle, and even
recently moved.
Perhaps you are looking to drive
engagement. One of the biggest perks of
social media as a marketing channel is
the ability to create an engaged, online
community of the individuals that build
up your target audience. For example,
Criterion.B launched a “Mark the
Moment” campaign for Preston Hollow
Village (PHV), a Dallas-based mixed-
use development. The goal was to spark
engagement among customers and retailers.
The campaign encouraged
patrons to share their moments with
#MarkTheMoment at any of the PHV
retailers. This campaign not only resulted
in more engaged residents and locals but
also a 50 percent increase in website traffic.
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