by Kevin Juhász
Digital marketing approaches within the multifamily sector are experiencing noteworthy shifts. While a considerable portion of budgets is still dedicated to internet listing services (ILS), those in the multifamily industry are becoming increasingly aware of the changing dynamics. 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.
The movement toward diversifying marketing strategies is driven not only by changes in the apartment search process but also by the unpredictability that can accompany digital marketing. A current example is the controversy surrounding TikTok, which faced a ban before being temporarily reinstated and is now available for download again. Nevertheless, consumer behavior is a primary influence on the effectiveness of digital marketing, compelling teams to adapt swiftly and make adjustments based on up-to-date data-driven insights. While multifamily absorption rates remain high in many urban areas, the industry’s outlook is clouded by several factors.
Read Kevin Juhász’s article in Multifamily Executive.