When the property is located near college or universities, property management should focus their marketing efforts in attracting the millennial crowd. Each year there are many young renters, leaving their campus environment and looking for a home. Your property could be ideally suited for the Gen Y crowd, but marketing with the right content and tone is essential to capitalize on this demographic. For this, it is essential to know the trends prevalent amongst millennials and their preferences. Here are some tips that will work best.
The Right Channel and Tone
Majority of millennial crowd hate ads, and prefer interacting. Therefore, social media should be the main channel for informing and involving Millennials. Facebook and Twitter being the two main platforms used by adults, marketing efforts should mainly focus on these two. Secondly, different social media websites appeal to different demographics.
For instance, LinkedIn is most used by graduates and people with higher degrees, whereas, Pinterest is preferred mostly by women. Instagram is also slowly catching up and it is used mostly by adults and young people in urban areas. These various platforms can be used to show millennials how they can benefit from the community or how it could provide a specific solution. While interacting on social platforms, focus on key aspects that drive millennials such as sharing, diversity, discovery, passion, and happiness.
Authentic and Creative Engagement
Being skeptical of ads, property management needs to connect with the millennial crowd through authentic and creative engagement. Here are some tips for effectively engaging their attention.
Offer products that can be customized to their preferences and economics. For instance, offer a base package that covers only basic living amenities, and provide additional packages such as high-speed Internet, cable connection for entertainment, gym membership, and so on. When you offer customization, you can attract a much wider section of the millennial crowd.
Everyone likes something that is offered free as an incentive. Collaborate with businesses in the immediate area. Ask them for gift cards and discount coupons, which can be distributed amongst new tenants. This way, businesses find a way to advertise their products, and property management can provide freebies without incurring any costs.
Handling Negative Reviews
Almost all millenials trust reviews, which have some percentage of negative comments. In fact, when they do not see any negative feedback they feel the review might be fake or censored. Therefore, some degree of negative comments are not that terrible; however, property management should make sure to respond to these comments, and offer their side of the story. Nevertheless, it would not be wise to get into a war of words with people who delight in posting such comments.
They do not have to be professional, whereas you do.
Millennials love to do everything online, so make sure you provide online portal for doing everything from paying rent to submitting maintenance requests. Other technological amenities that attract millennials would be Apple TVs, docking stations in common halls, electronic keys, and high speed broadband connection with Wi-Fi. Smart storage solutions inside the unit are also very attractive for millennials.