MARKETING
CREATIVE STRATEGIES
importantly demand, with digital and social media aiding in capture and conversion.
away from homeownership contributed to the burgeoning number of renters in the U.S. as the U.S. Census Bureau announced that homeownership rates had recently sunk to 50-year lows. While the space is still largely held by small investors (the Census Bureau also reported 88 percent of the inves- tor-owned housing stock is held by in- vestors owning between 1 and 10 rental properties), institutional investors are starting to make headlines. The sin- gle-family rental (SFR) space has gained traction lately as Wall Street turns its sights to Main Street, looking to cash in on rental real estate. The recent Invi- tation Homes and Starwood Waypoint merger created not only a mega-land- lord but also provided further valida- tion to the SFR asset class as a whole. Even Fannie Mae and Freddie Mac are looking to enter the space, a significant move with potential to not only benefit institutional investors but eventually the everyday investor. So how can service providers effi- ciently navigate this accelerating SFR land grab? How can they stay top-of- mind with investors and ultimately win their business? In the end, it all comes down to marketing, knowing how to creatively position yourself, where and how to reach customers at the right time, and how to convince them in a saturated marketplace. Fundamental- ly, brands must still follow the classic marketing and sales funnel regardless of media channel innovation by driving awareness, interest, desire, action, and then advocacy for their services. In leveraging a multi-touchpoint market- ing plan that uses both traditional and digital marketing methods, as well as being creative and “discoverable” in as many different channels as possible, servicers can effectively capture their part of the market. A strong marketing campaign starts with a strong understanding of your own company and brand.
Ask yourself:
• WHAT DO YOU STAND FOR? • WHY DO YOU EXIST? • WHAT DO YOU KNOW ABOUT YOUR CONSUMERS?
WEAVING MULTIPLE STRATEGIES TOGETHER
We find that marketing works most efficiently in concert verses in isola- tion. Try out a bevy of different formats alongside classic, broad-based channels. Write compelling blogs, create videos and partnered content (including written, vid- eo and audio formats such as podcasts), send engaging, personal emails, and test value-centric direct mail. Strategically survey your customers to maximize and manage your digital reputation, and attend industry trade shows for prime- time networking potential. People and companies will inevitably go to the web to find out more about you, so be there for them in a variety of formats. Test smartly, track cost per lead and cost per sale, pivot as necessary and repeat. No investment is a waste if you’re able to identify key per- formance indicators per channel, measure results and learn from them. When you do find something that works, mine the heck out of it before moving on! The single-family rental investment class is here to stay and service providers in the space have a major opportunity on their hands. It’s not only about offering a great service, but creatively positioning your- self as a thought leader through strategic marketing. By inventing a compelling brand positioning and messaging strategy, con- ducting research to better understand target audiences and testing out a multitude of campaigns to speak with authority to those audiences, success is inevitable. •
By understanding who your customers are, where they are, what matters most to them and most importantly, their pain points, you can craft a solid marketing plan in your unique voice that showcases the solutions you have to offer. This not only allows you to create educational content that inspires your target audience, but it helps you crystallize your funda- mental value proposition - internally and externally. When you know what sets your company apart from the rest, and how it specifically solves industry or customer issues, you can start to compete on a new level, transforming benefits into a meaningful and powerful story. At my home company, where we have grown our residential property man- agement portfolio to more than 20,000 properties nationwide in just over a decade, our team has found a sweet spot in a trade- marked advertising campaign that relies on a mix of traditional advertising (name- ly DJ-endorsement radio) coupled with idea-centric social and online content. We also wrote a book on the topic and continue to leverage it as our primary evergreen content marketing vehicle. From a content marketing standpoint especially, we believe in the value of testing, and testing some more, to learn what works and what doesn’t. Our top recommendation to service providers working on building a strong marketing plan is to in- vest in a variety of offline / online marketing combinations with a platform emphasis on SEM (Search Engine Marketing) and SEO (Search Engine Optimization). Explore how different channels work together to drive both awareness and most
The Power of Multi-Channel Marketing for Bold Returns SINGLE-FAMILY RENTAL INVESTORS CAN BENEFIT FROM CREATIVE MARKETING STRATEGIES.
Pam Kosanke is the Chief Marketing Offi- cer at Renters Warehouse and one of the creative minds behind the Rent Estate™ concept and revolutionary marketing
by Pam Kosanke
one are the days of defining success and happiness by home- ownership. The traditional “American G
market. Tight credit markets, record high student debt, a growing minority population, and psychological shifts
Dream” has been turned on its head as a culmination of factors come together to create a renter-dominated housing
campaign that included the book Rent Estate™ Revo- lution. Learn more at www.renterswarehouse.com or email Pam at pam@renterswarehouse.com.
52 | think realty magazine :: december 2017
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