Rent growth, occupancy, revenue. The key performance indicators are all up across the country.
But the conversation about the metrics today is about when they’re going to start going down. Every veteran of the multifamily industry knows it’s going to happen … sometime. It might not be tomorrow, but the downturn in the cycle is going to happen.
Peyton Manning has a message. Identify your strengths. Be more aware of your weaknesses. Be nice to the equipment guy. And if you’re not getting better, you’re getting worse.
Manning, the NFL’s all-time leader in nearly every prominent passing category and the only quarterback to lead two different teams to a Super Bowl crown, spoke in detail about leadership as the keynote speaker at Entrata Summit 2016.
“To me, leadership really boils down to one thing, and that’s the ability to influence others,” Manning said. “You’re not handed the title of leadership. Whether you’re a CEO, a district manager, a mother or a quarterback, you have to earn it.”
With new innovations unveiled seemingly every week, staying ahead of the technology curve can be a cumbersome task.
Whether it’s adding smart-home technology to existing communities, devising plans for new developments or updating software systems on the fly, the process of implementing new technology is fluid and ever-evolving.
When the concept of integrated marketing was unearthed decades ago, it involved a narrow set of traditional advertising channels, a few websites, email and public relations. But the information age and technological advances of the past two decades have created a wealth of new information sources and devices. Blogs, online marketplaces, smart phones and tablets have exploded on the scene.
That has made integrated marketing a much larger challenge than ever anticipated, as the evolution of marketing channels has made it nearly impossible for marketers to manually create and maintain a cohesive strategy.
As technology has changed where and how prospective renters receive their information, it has also changed how marketers manage integrated marketing communications. Here are some of the ways technology can help you better manage your integrated marketing strategy:
There isn’t an industry in the world that’s immune to the disruptive technology trend – even multifamily.
Yes, even the industry that has been labeled behind the times by publications such as TechCrunch is susceptible to game-changing disruption. Sharing economy services like Airbnb are already threatening to disrupt the way business has always been done in the multifamily industry. While it hasn’t yet gained full traction, it could.
Patrick Mower, Product Marketing Manager
These days it seems like just about everybody has a mobile app on the market—this is great if you’re an app junkie like myself. The only problem is that many companies seem to be completely missing the mark with their mobile app offerings: they simply release an app for the sake of releasing an app, without putting a whole lot of thought into how they can most effectively meet the needs of their users. When considering a mobile app for your property, it’s important to consider a few simple principles:
As reputation management continues to weave its way into the everyday landscape of the multifamily industry, apartment companies are continuing to develop creative ways to respond to reviews.
But the most sophisticated companies are stopping negative reviews from even being posted by using ratings and reviews as market research and adjusting operations to provide a better experience. A panel at the National Apartment Association Education Conference & Exposition in San Francisco imparted strategic recommendations on how to do exactly that at the session It’s Not Just a Review. It’s Free Market Research.
By: James Harris, Implementation Consultant
Rudyard Kipling once wrote, “If history were taught in the form of stories, it would never be forgotten.” Stories move people. They inform the listener and inspire action. A story that incorporates key metrics and data can help convey a persuasive and effective message that is difficult to ignore.
Data-rich storytelling can help you to bridge gaps and move your audience past logic to emotion. But how exactly do you take your reports and raw data and turn it into a call to action? How do you take an occupancy report, for example, and transform it into a gameplan that will drive leases? How does the storytelling strategy translate for your property?
Dallas Jensen, Director of Training
Many years ago, I started my full-time property management career with a mid-sized management firm. When the offer came from the recruiter to start on the Monday following my interview, I was eager to get started and learn about sales and leasing. However, when I came to new hire training, the first item on the agenda was not how to execute a sale or draw up a lease, but how to blow up the balloons for outside the leasing office. The second item on the agenda was how to properly vacuum the carpet in perfect lines. And, the third item on the agenda was how to clean the clubhouse bathrooms. I thought to myself, is this what I signed up for? If you are new to property management, I hope your experience is less of a shock than mine was.
By: Shaun Provost, Digital Marketing Consultant
As marketers, it’s ingrained in us to analyze every single angle of a campaign or effort, tracking the user from the very beginning of their experience to the very end. However, in an industry driven heavily by leads and conversions, that information is generally not enough to satisfy data hungry executives. So, how do multifamily marketers merge the two?