At the 2022 Go Local Interactive Multifamily Summit, digital marketing and centralization was a major topic of discussion throughout the event. Over the past years, many industries, including the multifamily circuit, have moved toward a more centralized approach to marketing. Modern Multifamily Podcast host Mike Wolber sat down with Go Local co-founder John Jordan and Go Local partner Gray Lane of Asset Living to discuss how a centralized approach to marketing can benefit the multifamily industry.
In this episode, these three leaders in the multifamily industry discuss what exactly centralized marketing is, what the benefits of centralization are, and advice on how to begin centralizing your marketing strategy. Continue reading to learn more about what these experts had to say about centralized marketing and listen to the full podcast episode.
What is centralized marketing?
Prior to discussing the many benefits of centralization, Wolber asked both Jordan and Lane what exactly centralization is when it comes to marketing. In short, centralized marketing begins with a third-party management company acquiring regional properties within a variety of markets and housing them under one central domain. From there, you can create what Jordan referred to as a “replicable success model,” meaning you will have a unique and customized solution that can transition from market to market.
Asset Living is one such third-party property management company that has managed to find success in centralized marketing through a partnership with Go Local. Lane described a centralized approach to marketing as a “way to broaden your reach and cast a wider net with the resources [you] have.” On this podcast episode, Lane even stated that many of Asset Living’s markets were starting to play around with centralizing in other areas, including maintenance and leasing.
This proves that centralization can translate to more than just your marketing strategy. However, as Jordan stated in this episode, digital marketing can be a great first step toward centralization if you are nervous about beginning the process as it produces several benefits for reaching several local markets within a larger multifamily management company.
Benefits of Centralized Marketing for Multifamily
One of the many benefits of centralization is cost efficiency. When you can put all your properties under one central domain, all your data will be collected in one place. As Jordan states in this episode, a central domain allows you to capture AI and machine learning in one place as opposed to diluting it across the many different properties and entities you may own. This leads to lower costs per lead, and in turn, lower costs per lease. It also gives your domain much more power and impact to give you a better understanding of what’s going to drive new customer opportunities.
In addition, Lane states that non-centralized marketing demands generalism, whereas centralization allows for specialization. A centralized approach allows companies to leverage people and platforms in certain situations and provides a way to expand those initiatives as needed. For Lane, Asset Living’s centralized marketing approach means “being able to have everyone in the right place with the right tools to do the right thing.”
Advice for Centralizing Your Multifamily Marketing Strategy
When it comes to completely changing your marketing strategy, it can be scary and incredibly time-consuming. However, as Jordan states, it’s important to commit and put in the time up front in order to come up with the right strategy. This up-front approach will allow you to identify all your options and give you the chance to choose the right partner. Once you have devoted the time to getting the strategy down, you can let an agency like Go Local do the heavy lifting to get the centralized marketing strategy up and running.
Lane also advises multifamily companies to be available on social media sites such as LinkedIn and observant of what other companies are doing. It cannot be stated enough how important it is to network and get in touch with others in the multifamily sphere. Lane also discusses the importance of aligning yourself with vendors, suppliers, and agencies that have the same goals and a plan for how to achieve those goals. Once you’ve done that, you will be able to offer better services to your clients and accommodate what needs to be accommodated.
Centralize Your Multifamily Marketing Strategy With Go Local
If you are ready to begin centralizing your marketing strategy, Go Local is the perfect place to do so. We are a full-service digital marketing agency committed to helping you reach your target audience while upholding your brand’s vision. Our mission is to offer you a customized and more flexible approach to your marketing strategy.
We will give you the tools and flexible options available so you can alter your strategy for each market you serve. We offer all the expertise and services necessary to handle a large-scale local search marketing campaign, including content, SEO, paid media, and web development. Schedule a free consultation with us to begin centralizing your marketing strategy today!