The Art of Email Marketing in Multifamily
Marketers are enjoying a healthy opportunity to move goods to consumers via email advertising, one that the multifamily industry should take note. A spokesperson for Pew Research Center said recently that email hasn’t lost its luster. “Email is to the digital age what stone-sharpening tools were in the prehistoric age – good for everything that needs to be done.”
Even with mobile technology, email continues to hold a strong presence for consumers. It ranks fourth among smartphone users, competing closely with texting, internet use, and voice/video calls.
Email marketing still matters to multifamily prospects
Earlier this year, eMarketer reported that 72 percent of respondents ages 18 and older opened and read promotional retail emails. Most were women ages 35-44, followed by millennial males, 18-34, and millennial women—prime multifamily targets.
For property managers, email marketing provides a real opportunity to spread the word about apartments and other properties available on the market. Based on email marketing best practices available, effective email campaigns should be devised accordingly:
Start by Crafting an Email List
A successful email campaign begins with a carefully crafted email list, one that will offer the most value to your campaign. Fortunately, lists are not hard to build. It’s important to offer a form for the common touchpoints of your prospects. When future renters visit your website, they should be prompted by a call to action to sign up for email updates. Gaining the trust of your prospects is important, so let prospects know about the frequency and content of the emails beforehand. Offering an incentive is a good way to encourage signup. Soliciting email addresses is also a good opportunity to get detailed customer information that will enable you to learn more about them to potentially help improve your business.
Analyze the List and Develop a Marketing Approach
Once the list is compiled, determine exactly who you have. Learn the demographics of the list, as well as the interests and preferences of those who signed up. This will allow you to better target a specific feature or amenity of a property that could boost leasing. Monotony can be boring, don’t get locked into one type of email. A key aspect of your email marketing strategy is experimenting, test out different methods and analyze which types of messages receive the most engagement.
Keep it Simple
You’ve no doubt heard the KISS principle: Keep It Simple, Stupid. When speaking to readers, communications should remain concise and direct.
This can be done by using personalized subject lines, which have proven to help boost open rates by up to 29 percent. Data shows that the shorter and simpler the title, the more likely the reader will take a look at the email.
Develop Strong Relationships through Email Campaigns
Frequent email campaigns with consistent, useful information for the recipient enhances a property’s position as a trusted authority. Sharing available rentals with an interested audience and offering up content to those who may not be interested in advertised properties are valuable deliverables.
Also, social networking is a good way to promote email marketing campaigns. With more than 2 billion combined active users, Facebook, Twitter and Instagram provide a wealth of opportunity for multifamily marketers.
Determine When to Email
There is no clear-cut best time to send emails. The content most often determines when an audience is most captive, experts say. According to Constant Contact, for many email campaigns Mondays appear to be the best day, depending on the industry. Forbes reported that emails sent in the early hours of the morning (around 6 or 7 a.m.) or after-work hours (around 8 p.m.) perform better and receive more opens. To determine the best time, test your audience with small email campaigns and examine their behavior during set timeframes.
Consider a Responsive Design
In this digital age, it’s important to consider the mobile responsiveness of your email templates. Your email should adapt to different devices, enabling your audience to easily view content from mobile or tablet devices. MarketingLand reported that consumers are nearly twice as likely to share content from mobile devices versus on desktops. One study from BizReport mentions 75 percent of readers are more likely to delete an email that doesn’t render correctly on their reading device. For this reason, it’s vital that your marketing campaigns are integrated and flow across different mediums.
While it’s understood that many apartment seekers use the internet to search for the perfect community, it’s still important for properties to come to them. Don’t underestimate the potential power of an operative email campaign, email is far from exhausting its last digital breath. Effective email marketing campaigns are just one-way multifamily properties can reach a growing digital audience. For more tips on reaching online apartment hunters, view these on-demand webinars on creating a spectacular website and leveraging online leasing.