From the series “What is included in your integrated marketing strategy?”

“What is the purpose of apartment marketing?” This  question received different answers from everyone I asked.

Is it to communicate?:
Show the unique features of our apartments and/or services?
Show how potential residents will benefit?
How are your apartments and community different?
Generate leads for the community?
Yes, it’s all of those.

But the #1 purpose of marketing should be retaining your residents. Not one person even mentioned marketing to our current residents.

Yes, we have heard it a thousand times “the cost of obtaining a new resident can be five times more expensive than keeping a current one”. My eyes roll every time I read that line, we have been hearing it since the day I started working in this industry, and still 30 years later, where are the formal Resident Retention Plans?

Long-term residents tend to recommend the community more, complain less and cost the community less.

Attracting new residents must play a secondary role to making our residents very happy.

What are you going to do this week to make your residents smile?