November 6, 2015
3 Minute Read
The multifamily industry is entering a phase of tremendous growth and competition. From mobile to marketing measurement, data-driven decisions, new supply, new working environments and ever-morphing renter expectations, the multifamily landscape is rapidly evolving.
Four of the industry’s most influential marketers discussed some of their strategies for tackling the shifting environment during a panel discussion moderated by Greg Schwartz, Zillow Group chief business officer, at the inaugural Zillow Group Multifamily Forum in New Orleans. The biggest takeaway? To be a successful marketer and position your community in today’s world, you need to get on board with change — no matter how long you've been in the business.
Changing technology: Virginia Love, vice president of leasing and marketing at Waterton, said that’s the shift she and her teams are focused on every day. Increased transparency, the use of data for marketing and a focus on functionality first — “making it pretty” comes after — especially with mobile, are some of the areas she is currently working on and through. The bottom line: Make it easier and faster for renters to sign a lease.
'functionality has to come first' Virginia Love, Marketing Success panel. #zgrentalsforum pic.twitter.com/xP8JEhbQqb
— Laurel Zacher (@LaurelZacher) October 30, 2015
“One of things we’ve been working on is getting to the win with fewer clicks,” she said. “We are working on streamlining the application and the entire lease process so our customers can get through it faster.”
Five years ago, Kevin Thompson, senior vice president of marketing at Bell Partners, would have said that mobile was a channel for discovery — a place for renters to get started. “There would be no way a renter would want to fill out application on mobile,” he thought. “But, people are doing it.”
In addition to the onset of mobile, he says marketing has evolved into a “core competency” of business operations, which “is a good thing.” It now takes more than a creative skill set to be effective and successful. Today’s multifamily marketers need to be strategic and understand how to work with data.
Zillow Group’s director of national sales, Kristin Glascock, agreed. She started her career as a leasing agent, so she understands the time constraints of onsite teams and the desire for transparency and accountability from corporate offices. She said, “Today, it’s all about being online.” She also noted that you need math and analytic skills to make sense of the data and to provide the best service possible. Schwartz echoed her comments, and explained that the most coveted marketing professional in the future is going to be someone who has both a creative skill set and the ability to make sense of data.
Marrying the art of marketing with the science of measurement. #ZGRentalsForum pic.twitter.com/nZ3LaL7fvF
— Ryan Perez (@redryanperez) October 30, 2015
Jennifer Staciokas, senior vice president at Pinnacle, says the skills needed across the industry have evolved. “Our onsite teams are overburdened,” she said. “We talk a lot about technology and streamlining to create efficiencies, but we’re still staffing a lot of our properties the same as we were 15 years ago. We expect them to adapt more quickly. When you’re thinking about hiring your onsite teams, it’s not the same skill set as 15 years ago. You need to be modeling for now.”
In addition to new skills for onsite teams, Staciokas is focused on the next generation of marketing professionals. She recently built a “dream” marketing team full of new talent and is looking to add even more. “When I was 23 years old, someone took a chance on me,” she shared. “I’m all about hiring young people who have drive and motivation to take their career far.” Which is important, given that marketing is the driver behind new client conversations. “The role of marketing now has a seat at the table,” she said. “Fifteen years ago, we didn’t have that voice. Now we are strategic partners.”
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