Multifamily: Doubling Down on Marketing Effectiveness

Multifamily: Doubling Down on Marketing Effectiveness

CPS SalesTouch interactive kiosk

From a multifamily perspective, 2018 has experienced positive economic growth. There’s near-term confidence, according to a recent RCLCO Sentiment Study, in the underlying economy despite background concern regarding increasing interest rates and the equities markets.

CPS SalesTouch: Marketing Tools for Your Connected Consumer

Adam Ducker published a thought provoking article in Builder and Developer Magazine titled Outlook Landscape. He suggested asking if there’s an upcoming correction in the multifamily market and what developers should consider in advance.

It’s Very Difficult to Time Any Market

Ducker commented that while it’s always alluring to try to outsmart market cycles, it’s very difficult to do so. He did suggest, however, that multifamily developers take steps now to be prepared for any change in market conditions.
One suggestion makes sense in any market: double down now on marketing effectiveness and customer knowledge tools.
In Ducker’s opinion, it’s too late to start looking at the latest marketing tools when things get competitive.

Engaging, Interactive Marketing tools are Available!

CPS has been offering SalesTouch, an interactive touchscreen system, to multifamily developers since 2010.  They’re an engaging marketing tool, designed to connect with today’s consumer and particularly effective in areas with weather (and it doesn’t matter if that means too hot, rainy, or freezing cold!).

Why not offer a virtual tour of the property — and surrounding neighborhood — when it’s frightful outside?  You’re already prepared with property view images, virtual tours, drag ‘n drop furniture and neighborhood hot spots! Add in on-demand brochures and the ability to display the presentation on your website on on tablets’ve combined marketing effectiveness with customer knowledge tools! Your leasing office has just been kicked-up from static signage and stacks of pre-printed brochures!

Invest Now When Cash Flow is Healthy

Ducker makes an additional point: when markets get competitive, it’s too late to up your game.  Now is the time to invest in these new tools: when cash flow is healthy and equity partners are open to exploring new directions.

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