YMF Beverly Hills

3 Tips for Marketing Geniuses

By Geneva Ives on Apr 20, 2018 in Marketing

The Yardi Marketing Forum happened in Beverly Hills last week, drawing a crowd of marketing geniuses from property management companies around the country. Attendees caught a show at the legendary Magic Castle, strolled Rodeo Drive and indulged in a champagne and caviar tasting at Citizen. See the photos here.

Sounds fun, right? It wasn’t all swimming pools and movie stars. During the day, the forum took a deep dive into all things property marketing. Influential speakers took the stage to talk about everything from video marketing and automation to lead attribution and the future of marketing technology. By the end of two days, it was clear: property marketers need to embrace customer-centric marketing to stand out from the competition. That means putting the customer first, ahead of your properties and your brand, to ultimately win more leases.

3 Ways to Embrace Customer-Centric Marketing

1. Connect with story

If you think all property marketing videos look the same, you’re not alone. You’re probably picturing a camera panning around an empty display model, focusing on the gleaming hardwood floors and stainless steel appliances, while a voiceover lists amenities and throws the word “luxurious” around.

The thing is, those kinds of videos don’t make a connection with the customer. You’re not just leasing them an empty apartment, you’re renting them a home, a lifestyle, a place to tell their stories. The easiest way to make an impact? Tell a story with your video marketing. A full 70% of consumers say storytelling makes them feel more connected to a brand.

Want to learn more? Watch our keynote “Emotional Impact – Marketing Lessons from a Filmmaker” with cinematographer Gavin Garrison below.

2. Be a helper, not a pusher

“Buying today – especially for larger purchases – is fraught with tension,” said guest presenter Kyle Rees, senior executive advisor at CEB, now Gartner. “Customers are looking to us for help.”

He suggests making it easier for customers to buy by updating the buyer’s journey to make it easier for them to learn. “Instead of mapping how to buy from us, we need to map how to buy in general,” said Rees. Consider the research, questions and roadblocks that will pop up on the path to rent an apartment and then make sure your company has tools to help them along the way.

The more resources you have in place to identify decision criteria (like floor plans and neighborhood maps) and explain pros and cons (like property reviews), the more likely you are to provide a positive customer journey and win the leases that are right for your property. Wondering what happens when you don’t focus on the customer and provide a bad buyer’s journey instead? It increases purchase regret by 54%, meaning those residents will be less likely to renew their leases or recommend living at your property.

3. Track the total journey

Today’s online renters don’t make a leasing decision without doing a lot of research. In fact, at least half of them visit five or more property websites before visiting a leasing office. This means that our old ways of reporting on the customer journey – using either the first or last touchpoint to attribute the marketing source – is showing only a small piece of the puzzle.

To effectively market to your customer, you need to know where your customers are coming from and what they’ve seen along the way. This means it’s time to embrace multi-source lead attribution for more accurate insight into the customer buyer journey. One thing attendees at the forum learned before anyone else is that RentCafe CRM is evolving to do just that, and clients will soon have the ability to see multiple touchpoints on the prospect journey from lead to lease.

Exciting News

Our next Yardi Marketing Forum will take place in the Big Easy! That’s right, YMF is heading to New Orleans this November. Registration isn’t open just yet, but it will be soon. Interested in attending? Send us an email, and we’ll be in touch.

Not sure what to expect? Check out the Yardi Marketing Forum social wall to see what attendees shared live during the Beverly Hills event.