Influencer marketing has gained attention in recent years due to the rapid rise of social media. While merging the real estate industry with this type of marketing seems odd to some, adding influencers to your marketing strategies has its own unique benefits and allows businesses and property managers to expand their reach into niche areas.
“An influencer is a source of peer-to-peer marketing that can act as a large-scale resident referral program in our industry,” said Sydney Webber, Head of Client Marketing at Knock. Multi-unit news.
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While most residents have a small network of friends and acquaintances who may be interested in moving, an influencer has a captive audience of thousands, if not hundreds of thousands of followers who can potentially be exposed to your community and generate high quality leads.
“While their audience isn’t as targeted as traditional ILS advertising or keyword bidding, their followers are used to turning to their advice when making buying decisions and making conversions. higher rates, ”noted Webber.
Working with them means doing marketing on a smaller scale – micro-influencers typically have over 1,000 followers, the sweet spot seeming to be between 1,000 and 5,000 followers to make a difference, Jennifer Staciokas, Managing Director of Property Management at Western Wealth Communities, Told MHN.
Despite this reduced number of followers, micro-influencers tend to have a very engaged audience. In the real estate niche, they act as experts with a targeted audience.
According to Webber, “Over the past year, multi-family families have had to navigate a massive shift towards digital engagement first.” For example, today’s renters spend more time checking out properties online before submitting a lead or visiting a community.
“Authentic content created by influencers makes a property stand out among its brilliant brand competitors,” noted Webber. “Even if an influencer isn’t the first contact, there will be a point where prospects come in contact with their content – this social proof gives properties a competitive edge.”
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So how can property managers and real estate brands use micro-influencers to retain residents and reach prospects?
According to Webber, the most effective and lowest risk use in multi-family marketing is to identify those who may already be living in your buildings. By getting them to share their experiences and create content that is focused on your community, you get a constant stream of tenant-generated content to reuse in your marketing efforts, and your brand and community is sent to their network.
Another way would be to use Instagram takeovers. This involves micro-influencers creating original content for the company’s Instagram page and posting it themselves in real time, adding a very personal touch to the experience. By connecting to the brand, this content generates new followers, engagement, and ultimately new tenants.
Staciokas, for example, used micro-influencers at a luxury apartment building in Orange County, Calif., To help rent the penthouse apartments. Western Wealth Communities selected three different micro-influencers and invited them to spend a weekend in one of its penthouses and document what a ‘day in the life’ would be like at the property via social media. (Instagram, Facebook and blogs). This building had a rich amenity package that lent itself well to fitness, food and lifestyle influencers to attract a diverse clientele.
While using micro-influencers takes a bit more work, allowing them to take the time to execute is essential for long-term success. These partners will be an integral part of your business and your community.
When Webber first tested this concept in 2019, she was unable to find case studies or data on multi-family, but saw how integral it was to marketing strategies in other sectors. She predicts that there will be a wave of risk-takers and early adopters who test this tactic and the trend will only develop if the rest of the industry can see proof that it actually works.