Why Email Marketing is Important in the Multifamily Industry

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Multifamily managers have a multitude of marketing methods at their fingertips. While traditional marketing mediums like billboards, printed collateral, and media buys can help broadcast your property’s vacancies, digital channels help connect the dots between you and your prospective resident. One digital channel that remains among the most effective tools in your marketing stack is email marketing.

Email marketing can feel a little forgettable. After social media marketing and SEO, not to mention conversion optimization, geo-targeted ads, mobile apps, retargeting, and so much more, email can be an afterthought. However, while email may not be the new kid on the block, it remains one of the most important and effective pieces of your marketing strategy. Email marketing should remain a cornerstone for for multifamily marketers due to high usage and accessibility, incredibly efficient agility and experimentation, and the ability to truly cultivate a relationship with your customer.

Email is Everywhere

Email is one of the most widely used channels for marketing online. Over 72% of the Internet users surveyed by eMarketer said that they opened and read promotional emails, and many of them responded favorably to taking action on specific emails. Among this majority, key demographics included women ages 35-44 and millennials, ages 18-34, both male and female, “prime demographics for multifamily,” according to Property Management Insider.

Email is ubiquitous in its use yet undeniably effective when implemented appropriately. Among the demographics mentioned above, a clear majority found emails especially useful when targeted to previous product views and purchases and were personalized to some degree. Multifamily marketers can learn from the way eCommerce stores have successfully implemented email marketing.

Personalize the Journey

Once you start building an email marketing list, be sure the same email doesn’t go out to every subscriber. It’s inevitable that your subscribers will reflect people in different stages of your marketing funnel. From a new prospect to a long-term tenant, there are a number of different personas that will inevitably land on your list of email recipients. Make a concerted effort to evaluate your subscribers and identify key personas that are present within the customer journey.

If you are simply looking to engage current tenants and reserve marketing messaging for prospective tenants, these two distinct groups can be segmented and addressed with ease. However, email recipients often respond better to emails that are highly personalized.

“Simple personalization methods such as putting a consumer’s name in the subject line won’t cut it,” said eMarketer. Instead, spend time crafting personalized emails based on demographics. You can target users to prospects based on their demographic information and highlight amenities that are statistically attractive to that age group or target market. The more targeted and personalized these emails become, the more effective and efficient your marketing funnel becomes.

Relationship Building

As emails become more and more personal, and especially as they result in a returning customer or life-long resident, marketers begin to build a connection with their audience. Email marketing can be an effective way to communicate with residents, help cross-sell and cross-promote properties, and ultimately build a trusting relationship with your immediate apartment community.

As emails become more regular and more personal, residents rely on email correspondence to stay informed, further developing their relationship with your brand. “Frequent email campaigns with consistent, useful information for the recipient enhances a property’s position as a trusted authority,” said Property Management Insider.

Email is an incredibly effective tool within your marketing stack, and should always be a part of your community. Use email effectively by segmenting your email list, using personalized emails to key demographics, and providing useful, information and consistent correspondence to help establish trust and authority. For more information on how to get the best out of your multifamily marketing, contact us today.