Augmented Reality and the Next Wave of Digital Marketing
The multifamily marketing landscapes ever-evolving, and it’s essential to understand the current digital marketing trends to remain competitive. In 2023, multifamily marketers should be aware of key trends likely to shape their strategies.
Digital marketing trends that apartment communities and developers should be aware of include the growth of augmented reality, live videos, increased personalization, and native advertising. When a company is willing to evolve with the development of technology, they will always stay ahead of the game.
Keep your strategy relevant by adopting some of these forms of digital marketing:
Chatbots are the small chat windows that pop up at the bottom of a web page, offer assistance, and answer any questions you may have. Some people choose to interact with these bots, while others ignore them. But not for long. Chatbots gain intelligence with each interaction they have, making them more effective by reading the user’s needs. They also give the company time back that they may have previously spent answering customer
Chatbots are effective in marketing because they help promote your apartments, gain resident insight, personalize your brand and community, and increase engagement. It gives your web page a human-like interaction that customers would not get otherwise.
As chatbots gain traction in the digital marketing community, they will become increasingly effective and lead to more customers using them. Rather than relying solely on leasing offices
and manual messaging, chatbots will be able to quickly answer questions that potential and current residents have, allowing you to gather more accurate data about your residents.
Did you know the video streaming market is projected to hit $184.3 billion by 2027? Currently, internet users watch 1.1 billion hours of live video, which means a large portion of the market can be reached with the use of live videos. They consistently see more engagement with followers than any other form of content, making it a powerful tool for multifamily marketers to connect with their target audiences.
As such, video content will continue to be essential for multifamily marketing in 2023. Videos should be optimized for mobile devices, as well as social media platforms such as YouTube and Instagram, to ensure maximum reach.
The best sites to utilize for live videos are Facebook and YouTube, because they can be viewed even after the live streaming has ended. Live videos are an effective and engaging way to show off resident-exclusive events, grand openings, or other celebrations that bring excitement to your brand.
Live videos invite your followers to see and be part of what you are all about, letting them get to know the faces behind the brand. And while live videos are a fun way to interact with your audience, they can also be used to provide information about upcoming events, specials, or new properties in the works.
Augmented Reality & Virtual Reality
Augmented and virtual reality are technologies that are continually on the rise. From virtual tours of apartments to games like Pokemon Go, augmented reality has a lot of potential in increasing your brand awareness and engaging residents. Augmented reality (AR) and virtual reality (VR) offers consumers a chance to interact with the world around them without leaving the comfort of their home, which is an idea marketers need to capitalize on.
The idea of virtual reality was introduced to consumers through smart technology that can be brought into their home. Both of these advancements make marketing efforts more impactful, and allow the consumer to interact with your brand in exciting ways they have not been able to before.
In the multifamily industry, AR and VR can be used to display property renderings and allow customers to interact with them before construction begins. You can create a virtual tour for people who may not live close-by or are simply browsing options, allowing them to explore floor plans and amenities without the travel. The opportunities with AR and VR are endless,
allowing for creative digital marketing campaigns and features that appeal to target residents.
Native advertising, while considered an older method, is proving to be useful once again with the rise in technology. With the use of ad blockers and the avoidance of everyday ads, apartment marketers are looking to native advertising. It blurs the lines between advertising and content, coming off as less promotional and more as a casual nod to the brand and how it can benefit consumers.
Some examples of native advertising include sponsored ads seen on Facebook and Instagram, or product placement. The native ad should be able to fit in with the host’s media if your company's logo is removed. This strategy builds your brand's credibility and trustworthiness because you’re not bombarding your target resident with promotional content. Instead, you’re leading them to your site organically and building that relationship. This year, it will become crucial to take advantage of sponsorships on social media and other
platforms in order to maintain and grow your target audience.
Artificial Intelligence (AI)
Artificial intelligence (AI) will continue to be important in multifamily marketing. AI is complex and advanced, making it similar to augmented reality and virtual reality. AI is redefining the
customer experience, but is a concept that apartment marketers have to experiment with. Developers and properties that are willing to accept the challenge of adopting AI will see great payoffs in the future. AI can be applied in many ways, but has been used to build websites, segment customers, and in the automation of big data. AI can also be used to automate processes such as lead generation, providing multifamily marketers with more efficient and cost-effective ways of reaching their target audiences.
While this is an expensive and timeconsuming addition to your company, it has the ability to improve your apartment marketing efforts and results greatly. A strong AI strategy can lead to more cost effective campaigns, as AI can gather and process large amounts of data more quickly, allowing you to develop marketing material earlier on. More effective apartment marketing items will result in more leads, and eventually more customers. Your target audience will be able to relate with specific material, which will aid in building a long-term
relationship with residents.
Marketing in the Metaverse
The metaverse, originally envisioned by venture capitalist Matthew Ball, is “an expansive network of persistent, real-time rendered 3D worlds and simulations.”
The metaverse refers to a hypothetical version of the internet that will support online 3D virtual environments. A current example of this is the online game called Second Life, as well as virtual reality headsets.
Essentially, metaverse is virtual avatars who can interact with their environment and other players. They can also make in-game merchandise purchases, such as clothing and accessories. From virtual tours through personal computing to attending conferences with a virtual avatar, the options for marketing in the metaverse are nearly endless for multifamily organizations.
While this technology seems like a novel or hypothetical idea, virtual reality is not new. If you are not innovating and thinking ahead about how to market in the metaverse, you might already be behind the curve. Some events, like the Lil Nas X Concert utilized this concept when it took place in the virtual world of Roblox.
With Generations Z and Alpha coming of age for renting and making large purchases, metaverse events will likely become a necessity. This is just one example of how the metaverse will play a role in your multifamily marketing efforts.
Voice search is another trend that multifamily marketers should keep an eye on in 2023. As voice recognition technology becomes more sophisticated, people are increasingly using it to find the information they need online. Therefore, multifamily marketers should optimize their websites for voice search by including relevant keywords in content and ensuring that search engine algorithms understand the intent behind queries.
Mobile optimization will be increasingly important for multifamily marketing this year. As more people access websites on smartphones and other mobile devices, multifamily marketers need to ensure that their website designs are optimized for these platforms.
This means making sure content displays properly on different screen sizes, incorporating features such as click-to-call phone numbers and using shorter forms so visitors can quickly fill out contact information without having to scroll through long pages of text.
Podcasts offer an incredible opportunity to advertise your property and get more prospects through the door to tour. As podcast popularity has grown, so too has podcast advertising, and apartment communities have taken notice.
Advertising on podcasts is a great way to increase brand awareness and build relationships with potential renters. When people hear your ad on their favorite podcast, they will become
familiar with your brand and remember it when they need an apartment community in the future. Plus, if your ads sound natural and conversational, then listeners will be more likely to
engage with your message without feeling like they're being sold something.
OpenAI Writing Platforms
OpenAI writing platforms like Jasper and ChatGPT will also continue to be a popular content marketing tool in 2023. These platforms are AIpowered and can create human-like content that is engaging, informative,and tailored to multifamily marketers’ specific audiences.
Property managers can use these tools to help them create content quickly and efficiently, without having to spend too much time or resources on the process. However, keep in mind that the human element of content marketing is still critical for personalization, SEO, and generating more leads. OpenAI writing platforms are helpful for generating more content,
but are not yet equipped to build your search engine ranking
Meet Your Residents Where They Already Are
These are the major digital marketing trends your company should be looking for in 2023. If you are able to adopt some, or all, of these forms of digital marketing, you can expect to see
greater returns on your strategy.
Multifamily development is back on the rise, and great customer service is one of the main factors residents look for in a community. By utilizing digital strategies such as chatbots, AI,
the metaverse, and live videos, you will be better positioned to reach your audience in a variety of ways.