A recent blog post on Multifamily Insider outlined a good marketing strategy for those of you looking to entice new residents (and, let’s face it, that’s all of you, you hungry property managers, you).
You know the deal: you team up with a local merchant with a similar market, and promote each other. It’s free, and an excellent way of getting at untapped groups of people. This method is made easier by Facebook, thanks to the fact that nearly everyone is on it these days.
When choosing a cross-promotional partner, consider the following:
-Whether you’re really catering to the same crowd. If your tenant base is young, don’t team up with a cigar club. If your brand is modern, don’t team up with a…cigar club. Or a geriatrics doctor.
-Whether you have equitable bases. For Facebook, this usually means Fans. Do you have 100 people who “like” your page, but your potential partner has 10? They better be able to make up for it with lots of website traffic. In short, you should be able to offer each other approximately the same amount of exposure.
-Who you’ve partnered with in the past. Assuming you’ve done cross-promotion, try partnering with a different kind of business. Groups can include cleaners, restaurants and cafes, grocers, hardware stores, and salons. Mix and match.
Now that you’ve sorted that out, here are some ways you can cross-promote on Facebook in particular:
-Offer simultaneous discounts. MF Insider writer Brittany McBride explains: “Offer discount coupons when it is synergistic to do so. For example, work with a local restaurant to offer a coupon to their guests for $200 off the first month’s rent if they become a resident. In exchange, the restaurant can offer a 10% discount on Wednesday nights for your residents.”
-Write Wall exchanges. Sharing updates and posting about each other on your company Wall increases exposure. Coordinate these efforts so they are seamless and equal.
-Organize giveaways. Announce to your respective customers that you’re co-sponsoring a giveaway or sweepstakes. Use the offer of being entered to win as a way to get people to subscribe to your newsletter or become Facebook fans.