Amazing Apartment Marketing Ideas (For Any Budget)
by McKenna Hogan, on Feb 20, 2020 8:30:00 AM
Every apartment community is different - which means their marketing must be different as well.
And since not all marketing is created equal, we’re here to provide a comprehensive list of marketing ideas for any budget.
If you’re looking for free options
Sometimes fancy marketing tools aren’t always within reach.
Don’t let that stop you from having a stacked marketing strategy. Take a look at some extremely effective tactics with no price included below.
1. Google My Business listings
Google listings are free business profiles located within Google search results.
Their purpose is to provide visibility and essential information for businesses to be discovered as well as contacted. But it’s not just about having the information - you’ll need to ensure you meet the proper requirements in order for it to gain any traction.
Click here for a comprehensive guide to setting up and optimizing your Google My Business listing.
2. SEO optimization
Similar to your business listing, your website should frequently be optimized in order to maintain rankings and increase traffic.
Also an effective, yet generally “free” apartment marketing idea, by integrating features like SEO-friendly URLs, meta descriptions, internal links, etc. your website will have a better chance of converting leads.
Click here for more tips on optimizing your apartment SEO strategy.
3. Ask for testimonials
One of the best and easiest ways to up your marketing with absolutely no cost included is to ask for referrals or testimonials that you can place on your business listing or domain.
As part of the so-called “referral generation,” consumers are actually basing serious decisions off of reviews online and from friends or acquaintances.
By simply seeking out a happy customer, or requesting a testimonial in an email signature, your chances of acquiring a good reputation are that much higher.
If you’re looking for digital content
The thing about digital content: it could range from as low as $75 all the way to $10,00 depending on what you’re looking for.
However, if you do it right, finding a good deal for the type of marketing materials that would best fit your community can be completely within reach.
Below is a comprehensive guide to average pricing for digital marketing tools.
Lower budget content
The best bang for your buck will most likely be virtual staging services, if that’s a need for you. Averaging around $75-300 with no consultation fee and a small price for any updates, this tool is perfect for low-budget communities that are looking for a big return. Considering that traditional home staging can cost anywhere in the thousands for a model unit, virtual staging is a budget-friendly alternative.
In fact, virtual staging statistics show that it can reduce the cost of staging by up to 97%.
To top it off, virtual staging requires little to no hassle for an effective outcome, so leveraging this tool would be a good start to optimizing your portfolio.
Both averaging around $100-400, these tools are a little pricier, but extremely effective and you tend to get more bang for your buck.
Starting with drone photography, their greatest benefit is the ability to capture the entire exterior of a community. This could be amenities, the neighborhood, local stores, etc.
This is excellent content to deliver for any community, and it provides extensive information that would be hard to deliver in any other form.
3D floor plans
3D floor plans on the other hand, along with virtual staging, are more detailed and realistic alternatives to 2D floor plans.
Their strength is their ability to accurately portray a layout of a unit complete with dimensions and furnishings.
Leveraging this tool on your website or with print handouts is a budget-friendly option for high budget results.
Medium budget content
Similar to drone photography, drone videography has the ability to capture unique exterior perspectives.
Ranging from about $300-1,000, there’s a bit of a price variance depending on the provider you choose.
The pay-off, however, makes it totally worth it.
Statistics show that businesses featuring drone footage sell about 68% faster than properties without. Essentially, they’re definitely worth it.
It’s hard to argue the importance of photography in multifamily - which is why this digital content should be leveraged before any other, regardless of price.
High-quality photography sells 32% faster than low or average quality photography, so jot that down.
And for only $500-800 for 10 stills, it’s totally worth it. Especially considering everything you can do with it besides just leveraging it through your portfolio.
This marketing tool is a bit more complex in nature, which makes price points ranging anywhere from $200-2,000 a bit difficult to sell.
Considering factors like quality and quantity of images, doing a little research before signing any contracts will be best practice for any 3D service.
Aside from that, rendered images are excellent tools for new developments looking to pre-lease.
Click here for more about 3D renderings in real estate.
High budget content
Similar to high-quality photography, immersive virtual tours in multifamily should be considered a must.
Acting as a 24/7 open house, virtual tours averaging around $800-2,000 per tour are definitely worth it.
With numerous platforms to be leveraged on as well as a consumer desire for more virtual tours on real estate listings, this tool pushes results like none other.
Click here for more statistics on the benefits of virtual tours.
If you’re considering a 3D virtual tour in your marketing mix, it will definitely sit on the higher end of costs - as 360 3D renderings take a lot longer to build out, but the end result is extremely worth it for lease-ups.
A little fancier compared to other apartment marketing ideas, virtual reality in real estate is a unique strategy for pre-leasing a development.
Set price points from $1,000-2,000 are what you’ll find all across the board for a quality experience.
Requiring either a VR headset or Google Cardboard, implementing this strategy for apartments under construction/don’t yet have a leasing office allow prospects to go on a virtual tour of a future development.
Real-time availability tools
Real-time availability tools, such as stacking and site plans, are typically around $2,000-3,000.
The benefits, however, are endless.
Stacking plans are tools that allow potential prospects to view available apartment units and models, while site plans show which buildings and/or units are available as seen on a garden style apartment map.
If you have the budget for it, leveraging real-time availability tools can help streamline the leasing process immensely as well as provide extensive up-to-date information.
A fan favorite -if you can budget for it- 3D animations are essentially fly-through videos of the interior and exterior of a development, complete with suspenseful transitions and music for a movie trailer like product.
Unfortunately, this tool can be as pricey as $3,000-6,000 depending on quality and length of the animation.
The benefits, however, are outstanding.
3D renderings in real estate tell a story, and they don’t lose purpose after a development is built, either. Animations can be leveraged just like any other digital tool to help lease units for years after the initial investment.
In conclusion, there are many different tools accessible for industries for all shapes and sizes, so do some research to better understand what best fits your apartment community.
A comprehensive guide to pricing can be seen in the graphic below.