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...
Meet Brad Batesole
YMF Baltimore Guest Speaker
The Yardi Marketing Forum in Baltimore begins November 13! During this sold-out event, multifamily pros from across the country will join us to learn new marketing strategies from expert speakers from both within and without the real estate industry. Brad Batesole will be one of our guest speakers in Baltimore. Brad is the top marketing instructor for Lynda.com and LinkedIn Learning, with over 10 million views on his coursework. He was featured in Entrepreneur Magazine as a young entrepreneur after launching his first successful business at the age of 15 and has helped bring upstarts like LegalZoom, Lynda.com and Warby Parker to where they are today. We recently caught up with Brad before the forum to see what’s exciting him now, both in terms of marketing and our upcoming event: How does your work with LinkedIn impact your ability to speak to different audiences? LinkedIn is home to an incredibly diverse member base — geographically, demographically and career-wise too. There’s a huge opportunity to speak to people that are in different stages of their career and even their lives. I’ve received incredible messages from all around the world and am often left speechless at what people are learning and how they’re applying it to get ahead. Marketing is such a universal topic, and LinkedIn has created the opportunity to teach to a huge audience and learn from that audience as well. Some of what I do can look very one-sided – put a course online, and let people watch it. But behind-the-scenes I’m answering emails, talking with our members and learning more about how people are putting their education into action. What new marketing technology or trends are on your radar right now? I’ll admit, I’ve been rolling my eyes at virtual reality (VR)...