Recently, we pulled 12 multi-family management companies from NMHC’s “top 50 management companies” rankings. The findings we ran across was unbelievable. After looking into over 100 apartments throughout the nation, we have found the following:
- Social Media Automation: Monkey see, Monkey do. This is obviously the case for using social media automation in the apartment industry. It appears as if some management companies are hiring one social media manager who creates “universal” content to be posted throughout their entire portfolio instantly. This is seriously the dumbest thing we’ve ever seen. For one, our research showed that over 90% of automated posts research NO ENGAGEMENT or RESPONSE from the apartment’s audience at all. In contrast, content that was more specific to the audience’s location actually drove more interaction. While social media may not be understood at the property level, it is definitely not being done effectively from a corporate level either. If no one is responding to your content, the time spent for developing that content is a waste a time. Sadly, it could be that management companies are wasting $40,000 a year on terrible apartment marketing.
- No Twitter/Instagram Presence: It’s 2014 and there are tons of opportunities to generate more leads on social media in apartment marketing. However, we’ve seen an extremely weak presence on Instagram and Twitter presence for 95% of the apartments we audited. The average amount of Facebook fans throughout the NMHC’s management companies’ apartments that we audited was 223 fans, while the average of Twitter followers was just 42 followers. The average amount of Instagram followers is too low to even mention. The entire industry is missing out people who are literally searching and talking about how they need an apartment.
- Low Activity: Even with the trend of social media automation spreading throughout the industry, the amount of activity is still subpar. The average amount of posts for an entire month throughout the industry was 10 per property. This averages out to be about 2-3 posts per week. Apartment brands who are serious about social media marketing should be posting at least 2-3 times a day. Opportunities to generate more leads are missed because of this low activity. Opportunities to keep residents engaged with your property for retention purposes are missed as well.
Overall, Using social media and SEO for apartment marketing can be a major driver of leads and leases for any apartment. Not only that, but being able to tell people who tour the property to connect with you on social media gives you another avenue to stay in their face. In addition, if residents have general questions, an active social media presence will make them feel more comfortable and get their questions answered.
However, the apartment industry from a management perspective appears to not understand the HOW of using social media for their benefit. Everyone knows that you need to be on it, but everyone does not how to generate results from it. This may be the biggest reason why properties are missing out on leads from Twitter and Instagram. How do you grow your followers? What type of content should you post about your property? How do you find people looking for an apartment in the specific location of your apartment? The lack of understanding these components is evident in the results we audited.
But, even if apartment marketers actually did understand how to actually use social media, it would be literally impossible for one person to manager multiple properties and multiple platforms. Having leasing agents manage the on-site work may be cost-effective, but may not generate intended results due to multiple variables. There needs to be a low-cost solution implemented to helping apartments keeping their target audience engaged, informed, and interested in living at the communities of management companies. This is something our team have perfected and would love to share more insight on how your properties can start generating more leads through social media immediately.