As the economy continues to slide properties may be pressured to offer concessions and specials. Try some creativity. We have had great luck with Flip Video Recorder promotions. Add your logo sticker and viola, you have a customized promotional tool that bears your logo, and is one of the hottest gadgets going right now. We think nothing of offering up a month’s rent to spur rentals, at which the value to your organization evaporates upon conception. However, with a Flip Campaign, you have struck a cord of emotion with residents and the logo sticker promotes conversation with your resident’s friends and family, and has lasting value. You have leveraged your marketing. Further, you can purchase five Flips for the same cost a one months free rent.
You can take the Flip Campaign a step further by organizing a Video Contest with your residents at your community. Try to add emotional touch points with categories like funniest pets, kids best smiles and so forth, anything that connects an emotion and engages. Today’s best marketers understand the importance of the two E’s, Emotion and Engage.
The real point here is, there are several low cost, but creative ways to engage your residents. When thinking through incentives and specials, focus more on value perception as opposed to a monetary amount, you will stretch your marketing dollars. And, it also becomes a marketing campaign, not a rent concession. We have also had great success with Flat Screen TV’s, but recommend that the TV stay with the unit, it is not a give away. We then recycle the TV’s at move out and save them for another promotion.
Break From Apartment Commodity today by thinking outside the box, and always, always market in everything you do.
What are some creative marketing ideas you have utilized with success?
Eric Brown
Eric’s background is rooted in the rental and real estate industries. He founded metro Detroit’s Urbane Apartments in 2003, after serving as senior vice president for a major Midwest apartment developer. He established a proven track record of effectively repositioning existing rental properties in a way that added value for investors while enhancing the resident experience. He also established Urbane Media, a social media marketing and PR laboratory, where innovative marketing ideas are tested. Eric has been featured in Entrepreneur Magazine and Business Week Magazine. You can connect with Urbane_Media on Twitter. Eric also writes regular articles for the following publications; Multi Housing News Social Media Examiner Search Engine Guide
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Great post Eric. We took a similar approach with electric scooters from Razor. We plastered logo’s all over the scooter and gave them away as move in gifts at one of our student communities. The thought was that the students would ride them around campus thus becoming a moving billboard for our brand. And, as you suggest, we would have never received that kind of mileage out of a concession give away.
Mike, That is a great idea! Can you share a little about the cost, and did everyone get one, or were there a limited number? A very cool idea though! Thank you for stopping by,
We purchased five at $399ea. It seemed a bit pricey to me at the time but I could buy two plus for the price of a free month. We gave them away raffle style and are now thinking about how we do it better next year.
This is a GREAT post, Eric, and very timely, too! These sorts of gadgets are way better than any gift card. BTW, did you know that Buy.com has 16gig jumpdrives for 25 dollars each…pretty nice!
Heather, Thanks for stopping by and for sharing the info on Buy.com, great stuff!