geofencing

Digital marketing approaches within the multifamily sector are experiencing noteworthy shifts. Today's renters tend to go beyond just browsing Internet listing services and visiting properties—they conduct thorough research across various platforms to gain an in-depth understanding of the communities they are interested in.

Finding the best channels to stir up interest from prospects and capture qualified leads is always one of the most important goals for multifamily marketing teams. In 2024, this quest has gained greater importance as many marketers must obtain the same results with stagnant or shrinking budgets.

Between slowing rent growth and stagnant or shrinking budgets, operators are focused on cutting costs, requiring marketers to adapt and find ways to produce the same, or better, results with fewer dollars. About two-thirds of multifamily marketing teams report the same or a decreasing budget this year.

Multifamily owners and operators are exploring ways to reduce costs, and cutting marketing expenses is part of this belt-tightening. Multifamily marketers are facing a tough challenge going into 2024, being asked to achieve more with less money.