RISING leadership
Brand Identity Leadership and Your Multifamily Property
By Ashley Tyndall
For apartment marketers , a lot of effort goes towards differentiating your community from the rest of the multifamily properties in your market . This generally includes frequent social media posts and an updated website focusing on onsite amenities and features . However , there is one important aspect that can be overlooked : Branding . Developing a brand identity is an essential element when setting yourself apart from the competition .
Importance of a Brand Identity
A brand identity is the meaning behind your logo and other marketing elements . It tells potential and current residents who you are and what you represent . This includes the branding materials created by your company that convey your personality , and include logo , colors , fonts , and positioning statement . Without a brand identity you run the risk of confusing your target audience because you lack a consistent image that is easily identifiable and relatable .
The keys to a good brand identity are to make it distinct , memorable , scalable , cohesive , and easy to apply . It ’ s important to carefully consider each element of your brand identity , and pull inspiration from companies that have had great success with their identities .
Development of a Brand Identity
The first step to creating a brand identity is research and discovery . As with any good marketing element , it takes understanding your audience and their needs , wants , and values .
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Understand what appeals to them , and make sure to include relatable elements in your brand identity . Reevaluate your existing brand by considering the elements that have been successful and those that haven ’ t , and learn from the process . Research also your direct competitors and how they identify their company or properties , and who their target audiences are . By digging into your own existing brand elements , those of your competitors , and the needs of your audience as the first steps in developing a brand identity , you will be better positioned to create something strong and unique . For more , check these tips to building your brand identity .
While many management companies follow a marketing plan from the top , it is critical to identify your " it factor " at the property level . Perhaps you are eco-friendly with green amenities and a lush community garden , or maybe you boast modernity with tech-driven equipment and amenities . Discover if there is a strong key element that sets you apart from the rest of the competition , and capitalize on it .
Impact of a Brand Identity
After you have spent time brainstorming and developing a strategic brand identity , it ’ s time to put it to use . A strong brand identity is vital when differentiating you from your competitors and gaining awareness .
The multifamily space can get crowded and you are probably competing for similar residents as other properties - a brand identity can help you stand out . Ultimately , a well-thought-out brand identity will resonate with potential residents and drive them to your property , resulting in more initial leases , and higher revenue .
Ashley Tyndall is the Director of Corporate Communications for Criterion . B an agency focused on branding and inbound marketing for the commercial real estate industry .
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