Taking Target Personas a Step Deeper
Understanding your target tenant is among the most important tools you’ll need to drive leasing.
I’ve participated in or conducted over 50 creative discovery meetings for multi-family properties, and just about every one has included a discussion about Target Demographics. Why? Because they’re relevant, insightful, and entirely necessary to develop a strong marketing plan that will drive traffic and leasing. But they are nearly always flawed… or at a minimum woefully incomplete.
Here’s why:
Many national developers and management companies rely on large scale enterprise level solutions – tools that have been created to churn up data and spit out findings. While these tools have their place and can be very helpful – Esri’s Tapestry Segmentation tool is a great example – they also generally miss the meat of the story.
Good marketing is about making connections. Personal connections that drive an emotional response. We live in a hyper-catered world – ads are served to us based on purchasing decisions, web browsing data, and even conversations our phones hear us having. We’re conditioned to respond to advertising that’s pointed directly at each of us individually. And it works. According to research completed by Salesforce, 52% of consumers are likely to switch brands if a product they’re using doesn’t make an effort to personalize its communications to them.
Let’s get back to personas. If we’re going to market directly to our best prospects, we need to know more than the zip-code based demographics these big firms churn out. Our neighborhoods don’t change every five, or ten, or twenty m……
I’ve participated in or conducted over 50 creative discovery meetings for multi-family properties, and just about every one has included a discussion about Target Demographics. Why? Because they’re relevant, insightful, and entirely necessary to develop a strong marketing plan that will drive traffic and leasing. But they are nearly always flawed… or at a minimum woefully incomplete.
Here’s why:
Many national developers and management companies rely on large scale enterprise level solutions – tools that have been created to churn up data and spit out findings. While these tools have their place and can be very helpful – Esri’s Tapestry Segmentation tool is a great example – they also generally miss the meat of the story.
Good marketing is about making connections. Personal connections that drive an emotional response. We live in a hyper-catered world – ads are served to us based on purchasing decisions, web browsing data, and even conversations our phones hear us having. We’re conditioned to respond to advertising that’s pointed directly at each of us individually. And it works. According to research completed by Salesforce, 52% of consumers are likely to switch brands if a product they’re using doesn’t make an effort to personalize its communications to them.
Let’s get back to personas. If we’re going to market directly to our best prospects, we need to know more than the zip-code based demographics these big firms churn out. Our neighborhoods don’t change every five, or ten, or twenty m……