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What to Include In Your 2023 Apartment Marketing Budget: According To The Pros
It's 2023 budget season, and with so many great leasing and marketing tools, it's never been a more exciting (or confusing) time to craft your perfect plan. How should you spend your marketing dollars, and how can you be sure that they're being put to good use? We went straight to the industry pros to find the answers. Four of the industry's best told Pineapple what they're focusing on for 2023.
Spoiler alert: There's a lot of emphasis on working smarter (not harder) with streamlining and automating processes. Virtual and self-guided leasing were all the rage during lockdown but are proving much more than a passing trend. Read on to learn more.
SELF-GUIDED TOURS
In 2023, Landmark plans to roll out self-guided tours to our full student portfolio of properties. Vanessa recognizes that the duties of on-site roles have grown immensely in recent years. Among other reasons to adopt self-guided tours, she shares that the "By using self-guided tours, the expectation allows them [on-site teams] more time to focus on the customer experience and services we provide to our residents."
CHAT/AI
Vanessa and her teams are demoing several AI vendors for consideration as the first point of contact with potential renters. The heavy workload of staff and continued improvements with this technology are driving her decision to dive into AI. She's impressed with the humanlike experience AI now offers. Landmark will use their sales training to roll out this initiative to ensure it's in step with the experience people get with one of the virtual agents. Vanessa adds, "With the use of this technology, we hope to put more time back into the hands of our management teams so they can focus on resident event programming, successful execution, and outbound marketing activities."
KATY MOORE
Director of Leasing
INFLUENCER MARKETING
Influencer marketing has been growing in popularity. This is especially the case in student housing as social ads become increasingly competitive and some university sponsorships don't offer the value they used to. According to Katy: "With the release of NIL [name, image, and likeness] marketing last year, it goes to show how much opportunity there is in utilizing those engaged with their community online. Social media is truly the new age of word-of-mouth marketing."
Properties can use influencers beyond just promoting content. Katy also encourages you to engage influencers in promoting and appearing at resident and community events.
Beyond student housing, Katy also sees excellent potential for influencer marketing in market-rate housing. She encourages you to seek out local influencers discussing important topics to your residents. For example, find a local influencer who discusses the local foodie scene, supports and promotes local businesses, or talks about local things to do with your pets.
LEAD TRACKING
In addition to investing in generating new leads, Katy sees growing importance in being able to evaluate the effectiveness of those ads. In 2023, Katy will continue to invest in lead tracking to effectively know where leads are coming from and which are most effective so she can guide the campaign and future spending.
CHATBOTS
Katy likes chatbots for follow-up with both residents and prospects. With a focus on customer service, Katy sees chatbots as a way to be of service to people when it's most convenient for them. This often means offering support outside of traditional office hours and using chatbots as an effective way to support leasing and resident retention efforts 24/7.
COURTNEY MATHIOWITZ
Director of Marketing
SELF-GUIDED TOURS
Courtney is diving into self-guided touring to better accommodate busy renters that prefer a flexible, autonomous leasing experience. She sees self-guided tours as a competitive advantage in her most competitive markets and a way to support her leasing teams across the board. Courtney is opting for a hybrid self-guided model where she will offer self-guided tours as an option to renters and have Leasing Agents in place to support prospects before and after the tour if they want additional in-person support.
WEBSITE UPDATES FOCUSED ON VIRTUAL LEASING
With renters doing more online research than ever, Courtney ensures that her property websites meet the constantly shifting renter's expectations. The primary focus of her 2023 website updates are the features that give a renter a good sense of the community from the comfort of their computer. That includes drone photography, video, and virtual staging.
CRM FOR RENEWALS
Given the growing competition, Courtney ensures that her teams nurture potential renewals with the same vigor as a new lead. As part of that initiative, she's using CRM to create those additional touch points leading up to renewal.
VIRTUAL CONCIERGE
Another initiative focused on resident satisfaction that drives high retention rates is the use of a virtual concierge. The virtual concierge assists residents with things like hiring a dog walker and laundry service. A great amenity at any property, this one is especially beneficial for older properties that compete with amenity-rich new product.
MOSHE CRANE
Director of Marketing and Leasing
VIDEO
Moshe is encouraging more video at his properties in 2023. He encourages properties to focus on lifestyle content instead of simply community images with a heavy sales message. Instead, he sees video as an excellent opportunity to give potential renters a glimpse into their life as residents at your property. People expect it to feel real, so don't be afraid if it's a bit raw. He also encourages the properties to show staff and residents having real interactions instead of staged models. Moshe's pro tip: Save time by creating a ton of content in one day that can be used in various ways for months to come. For example, content could be clipped together to tell the story of a relaxed Sunday morning at your property and reworked to show "10 ways residents get to know their neighbor."
YOUTUBE PRE-ROLL ADS
Moshe encourages you to use your video beyond your website and social media. He encourages properties to consider YouTube pre-roll ads (also called "in-stream advertising"). Pre-roll ads are the ads that appear before the video. While they can be longer format (1-2 minutes), the sweet spot is closer to 15-30 seconds. These ads could be an excellent medium for lifestyle videos with quality entertainment value.
The last few years have certainly been unique for the apartment industry, and we've seen many industry leaders welcome a shift in perspective as we reevaluate the best way to take care of our residents, potential residents, and on-site teams. 2023 is already looking to be another transformative year. We're grateful to the pros featured here for sharing their expertise and giving us a glimpse into their vision for the year ahead.
If you're curious if self-guided tours could help you achieve your 2023 leasing goals, we'd love to chat. Schedule a demo to learn more about how Pineapple makes self-guided tours simple, affordable, and scalable.
Pineapple Integrates with OpenVia to Improve Building Access for Multifamily Assets
CAMBRIDGE, MASSACHUSETTS - Today Pineapple, the first self-guided tour platform not reliant on smart-locks, announces a strategic integration and partnership with Luxer One, the apartment industry's leading parcel-locker supplier. The integration allows properties to offer Pineapple’s full suite of self-service technology utilizing their existing Luxer One parcel-lockers, eliminating the need to invest in expensive building-access technology. “The Luxer One - Pineapple partnership is a game changer for lowering the barrier-to-entry for self-guided touring. Like any new vertical, self-guided tours to date are expensive to implement. Now, the over 8,000 apartment buildings with Luxer One Locker installed, can partner with Pineapple to quickly, and very cost-effectively, offer self-guided tours for prospective residents.” said Steve Bonaventure, founder and CEO of Pineapple. “On top of the ROI implications, I think the best part of this partnership is that clients can use their existing Luxer One technology that they are already familiar with. It’s one less technology for on-site teams to learn.” With the Pineapple - Luxer One integration solution, future residents and suppliers can request temporary property access privileges and securely pick up their keys at the Luxer One location. After key pickup, Pineapple will guide the customer or supplier through the rest of their visit, ensuring they get the most out of their visit. “Luxer One is excited to expand our offerings to our long-term client partners. Our solution helped make it simple for residents to get their packages on their own schedule, and that’s the same underlying deliverable of Pineapple,” said Arik Levy, founder of Luxer One. “The modern customer wants to tour at a time that fits their schedule, not the office’s. This partnership is a natural fit, with the aligned goal of making it easier for on-site teams to get more done. ” For more information about how to generate and convert more leads with Pineapple, visit www.TourWithPineapple.com . About Luxer One Luxer One is a technology company specializing in contactless pick-up and drop-off solutions for packages and goods. The company's smart package lockers are utilized in multifamily residential, retail, commercial, and higher education settings. Luxer One has executed more locker deliveries through its advanced technology platform than any other smart locker company. Over 300 million U.S. packages have been delivered to Luxer One lockers. Learn more at: luxerone.com . About Pineapple Pineapple is the leading key-based, on-demand platform for self-guided apartment tours and maintenance centralization. Pineapple’s proprietary technology allows renters, suppliers, and other third parties to safely and simply reserve temporary access to any unit, amenity space, or non-resident location on your property, at their own convenience. Get your units turned and rented faster with Pineapple. Packages start at $199 per month. Learn more at www.TourWithPineapple.com.
Based on its popular self-guided touring platform, Pineapple is excited to introduce a remote vendor access solution as part of its suite of services. Pineapple's remote vendor access tool allows Property Managers and Maintenance Supervisors to grant approved vendors access to vacant apartments without having to spend time running around the community to let them in and out of the apartments. This tool immediately eliminates a burdensome task from maintenance teams while creating a pathway to potentially centralizing maintenance. All without the need for smart locks. Pineapple Founder, Steve Bonaventure, said: “Maintenance teams are the lifeblood of the apartment industry, and often the primary driver of resident satisfaction and renewal. This platform helps on-site maintenance teams work more efficiently with their limited time by helping teams automate simple but time-intensive vendor support tasks.” The process of granting a vendor access takes just a few minutes. Step 1: Create a vendor. Enter a vendor's name, email address, and phone number into the Pineapple dashboard. (This step only needs to be done once. Next time the painter needs to return, you can start at step 2.) Step 2: Select an access time. Select the apartment to be turned and the days and times for the vendor to access it. Access can be granted in increments of one to twenty-four hours to maximize efficiency. For example, a Manager can grant three different vendors access to the same apartment in the same day in a specific order or give one vendor access for the entire day. Step 3: Put keys and key trackers in the Pineapple key kiosk. Pineapple manages the rest of the process: Notifying the vendor of their appointment to access the apartment. Securely checking keys in and out. Taking a photo of the person retrieving and returning the keys. Navigating the vendor to the apartment with one-click web-based navigation. Notifying the on-site team when the vendor has arrived and left. Keeping a log of all access granted. This feature is already active for properties using Pineapple for their self-guided tours. If you're interested in learning more, contact Pineapple at hello@tourwithpineapple.com .
PropTech start up, Pineapple, receives backing from Comeback Capital
Self-guided touring has become one of the fastest adopted leasing solutions in the apartment industry. While COVID may have spurred the momentum, renter demand and high tour conversions have confirmed that self-guided apartment tours are here to stay. While many case studies validate the benefits of self-guided tours and many industry insiders support them, there are still a lot of questions and some misconceptions about this new touring technique. Here, we’ll break down what self-guided tours are and the benefits for Property Managers and renters alike. What’s the difference between self-guided tours and virtual tours? Before the industry began offering self-guided apartment tours, it introduced renters to virtual tours. Virtual apartment tours allowed potential renters the experience of seeing the apartment and amenities from the convenience of their computer. Properties typically offer virtual tours using video, 360-degree viewers, or a Facetime-style walk-through with an agent. While virtual tours give renters a good sense of the community from a distance, self-guided tours take the experience one step further. With a self-guided tour, the renter gets to actually experience the community- when and how it’s best for them. What is a self-guided tour? Self-guided tours allow potential renters to experience the community- including the amenities and the apartment(s)- without a Leasing Agent escorting them. It’s an option that offers a lot of flexibility and value for both renters and management teams. There are various ways to offer self-guided tours, and each supplier has unique features. Before you begin to evaluate solutions, consider your goals with self-guided touring. Below are the four primary functions of a self-guided touring solution and things to consider when researching options: Pre-Screening : All potential renters who will access your building should complete a screening process before being granted access. This process can include confirming their ID, taking a credit card, and signing a terms and conditions agreement. Things to consider : What are the steps involved in the screening? Is the process simple for renters? Can it be conveniently done from their phone? What protections will this process offer you as a Property Manager? Tour Scheduling : Renters should be able to schedule a self-guided tour online before arriving at the property. To accommodate walk-by/drive-by traffic, consider a solution that allows renters to screen and access upon showing up. Things to consider : Do you want the tour to have a set start and stop time? As a Manager, will you have the flexibility to set your self-guided touring schedule? Will the self-guided tour schedule integrate with the calendar that you’re already using? Access : Renters will need secure access to the amenities and any apartments they want to see- vacant apartments and models. Most self-guided solutions require smart locks. Others opt for lock boxes on apartment doors. Pineapple uses the metal keys and key fobs that most apartment communities already utilize. A key-kiosk at the entry checks keys in and out and tracks their location. Things to consider : What type of locks are you currently using? Do you need to change keys or locks? If so, what is the cost associated with new locks? What maintenance, such as security updates or battery replacement, is required with each solution? If opting for a smart lock solution, what type of smart locks will you use, and will they work on vacant apartments? Will the solution you select allow residents to see the actual apartment or floor plan they will rent or just the model apartment? Navigation : Once in the community, potential renters will need to be able to find their way around. You’ll want to know that they don’t miss any of the value-add features of your community. Navigation can vary from a paper map to turn-by-turn directions on their phone. Things to consider : Will you offer an app that renters need to download or web-based navigation? Does any hardware need to be installed in your building to provide navigation? Why do renters love self-guided tours? Convenient touring times : As the “on-demand economy” grows, people become growingly accustomed to having things when and how they want them. Apartment hunting is no different. Self-guided tours further build on this on-demand trend by offering renters the flexibility to tour when convenient. Did you know that 20% of self-guided tours happen outside traditional leasing office hours ? Most Property Managers offer self-guided tours that cover a couple of hours before and after work and on the weekends and holidays. These extended hours give potential renters more options and the sense that management respects their time. Flexible tour experience : In addition to the flexibility to tour when they want, with self-guided apartment tours, renters also enjoy touring how they want. Depending on the self-guided touring solution and the parameters set by management, renters can see the amenities and apartments they want at their preferred pace. Personalized Support : While some renters are happy to walk through the community for their self-guided tour unaided, others may prefer a more guided and supported approach. Self-guided tours make sure every renter gets their ideal level of support. Why do Property Managers love self-guided tours? Broader market reach : For Property Managers looking to drive more leasing traffic, one of the most straightforward solutions is offering more leasing hours, specifically hours that best accommodate renters. By offering self-guided tours, you’ll attract prospects that prefer self-guided tours and those unavailable during your traditional office hours. Increased tour conversions : According to NMHC’s OpTech Conference & Exposition data, lease conversions increase by 86 percent when prospects take self-guided tours. That’s a significant increase in the conversion rate for traditional tours, making self-guided tours a more effective leasing solution. Competitive advantage : Self-guided tours aren’t just an effective leasing solution but an amenity. As renters compare the pros and cons of the properties in a market, the property that offers customer-centric, convenient self-guided tours have a leg up . Quick inquiry to tour conversion : By offering renters more tour time options, leasing teams improve their likelihood of getting a quick turnaround from initial call or DM to tour. Improve staff work/life balance : Increasingly, employees are prioritizing work/life balance when selecting an employer and choosing to stay put. In a 2022 KeyBank Financial Stability Survey , 62% of employees ranked work-life balance as the most important thing to them- even more than a high-paying salary (22%). They also indicated that their highest priority was “spending time with family and friends.” Self-Guided touring allows leasing teams to enjoy a good work/life balance and time with family without affecting the number of tours given or negatively affecting occupancy. Stable and expanded leasing hours : With self-guided tours, properties offer expanded, dependable leasing hours regardless of unexpected staffing shortages or unforeseen circumstances. Self-guided tours are gaining significant traction with management companies and renters alike. Now is a great time to evaluate the self-guided options and see how they can help you achieve your property’s goals. At Pineapple, we’ve designed our platform to provide Property Managers with all the tools they need to create an engaging renter experience while maximizing ROI. Schedule a demo today if you’re interested in learning more about how you can offer self-guided tours without using smart locks.
A Key Trend to Watch in 2022, According to The Washington Post.
A Post-Covid Guide to Maintaining Multifamily Cash-Flow.
Not According to Some Property Managers.
Through several years of unpredictable movement in the multifamily space, one thing has become abundantly clear: apartment shoppers want to tour in-person, on their terms. For an industry that was built on accompanying access, transitioning to support the 83% of prospective renters who would choose self-guided touring over having an agent with them or any virtual option is a burdensome endeavor that leaves many property managers with new concerns around maintaining security and giving tours a personal touch. With half of the remaining 17% of renters open to self-touring, “provided they could ask questions in person,” a catch all solution cannot rely on the artificial intelligence that is becoming so prevalent and feels so impersonal. As property managers explore other options, they need to consider the enhanced challenges to Fair Housing in selectively communicating on tours, especially in using their personal phones. The other side of the equation, as an owner will espouse, is tackling the monumental costs of smart locks that seem so essential to providing such a desired service. Most managers have been pitched a smart lock and the leading options–Schalge, Yale, and Kwikset–are all too often sold by companies that have limited to no control over the product they are selling. As a community manager, it is daunting to heavily invest in hardware that may need to be replaced in the event of a security breach or become obsolete quickly with the fast pace of innovation. At Pineapple, we don’t believe in third-party hardware because we cannot guarantee it to provide long-term security or functionality. While most are zigging to leverage smart locks, we are methodically zagging with a new type of hardware to automate self-access. In less time than it takes to install a handful of those expensive smart locks, Pineapple can be fitted by the leasing office and running–with whatever locks are currently working on your property. Reinventing the wheel no longer has to be complicated or expensive with our system, designed exclusively for multifamily and priced 90% under our competitors. Finally there’s a way to scale what your prospective tenants want, securely and cost-effectively, with Pineapple. RentCafe rental blog. 2022. Survey: Self-Guided Apartment Tours on the Rise Among Renters. [online] Available at: