Multifamily Preleasing: Interactive is a Great Tool!
Today’s renter economy is strong enough — in many areas– that preleasing is gaining popularity as part of a multifamily property’s revenue management strategy.
In evaluating a prelease strategy, we’d like to suggest several ideas to consider after you’ve determined property specifics, audience, features, amenities and the like. We think they’ll make your marketing process more effective as you reach out to your audience and enable them to better see your property’s value (and values!).
(1) Use Interactive In Your Messaging — Start Branding: Of course, you’ve considered your audience but..we’re suggesting a bit more as you evaluate marketing messages to the audience. Are you thinking, Gen X, Gen Y, Boomers … does it really matter?
Recent studies suggest that all 3 demographics have much in common (the “Connected Consumer” isn’t limited to only Gen Y, for example). And, your “most connected” consumers are women..regardless of age group.
While Gen Y has grown up in the digital age and are recognized as comfortable with technology, there are unique opportunities with interactive systems (large touchscreens and tablets) to connect with all audiences.
Today’s consumer wants immediate information. Interactive touchscreens respond to their particular interest.
Does your visitor want to see if their furniture fits into the your 2 bedroom unit (which they can’t visit)? CPS’ interactive SalesTouch Move it/Move it feature allows consumers to select from a “sized” furniture palette and move furniture into the unit.
What about your building’s amenities? The pool; the clubhouse; the fitness center — all still to be built What will they look like?
Neighborhood? Will there be a local coffee shop? How about restaurants in the area?
Key to providing information is making it actionable: provide a way for your visitors to imagine visiting the coffee shop (how about an exterior image) or visiting a new restaurant (highlighting the “best” menu item) or riding the bike trail (how about the sunset along the river?).
Pre-leasing works best when your audience — boomers, Gen X, millennials — can imagine living in your building, the selected unit and the neighborhood. Interactive touch systems let your visitors start telling stories about how the property will meet their objectives! And, you’re building your brand in the process.
(2) Energize Your “Green” Messaging: Study after study suggests Gen Y will spend if a product is shown to be cost effective and eco-friendly. The latest consumer neuroscience studies suggest boomers appreciate marketing messages illustrating what value will be gained. Highlighting green’s cost-effectiveness is a powerful marketing message for all audiences.
And, while there are lots of “big ticket” green products, your message can highlight that it’s the little things that count, too.
Do you have a “green” strategy? Use your touchscreens and tablets to leverage that message. Start your eco-friendly messaging at the pre-lease process — highlighting unit features such as low-flow faucet/toilets, energy efficient appliances and low-e windows.
Build on it with the little things that are part of your pre-leasing process: CPS’ SalesTouch offers e-brochures and prints brochures “on demand” and only the desired floorplans.
Add-on with features that come as a result of move-in: e-leases/renewals, streamlined recycling programs..maybe even a community garden.
Keep all of this information in front of your prospects as they’re touching to discover your property’s amenities and your brand. Touch is powerful; neuroscience tells us touching a monitor generates completely different brain processes than using a mouse. If you’d like information regarding CPS’ interactive touchscreen system, SalesTouch, plrease visit our website, www.cpsusa.com.