Marketing Strategy for ABC Apartments
Marketing Strategy for ABC Apartments
Time Period: 0/0/00 to 0/0/00
Prepared By Jane Doe
Overview
Community Strengths:
Here you will describe the community, citing its greatest strengths. What features stand out against the community’s competitors? These will become known as the community’s unique selling propositions or U.S.P.’s. Address those features here. Discuss the greater neighborhood, including the proximity of services, employment, and recreation. In this paragraph, you want to list all that is good about the apartment community, in order to clarify the value of the product and set the stage for the remainder of the plan.
Community Weaknesses:
It is equally important to uncover any weaknesses that challenge the community. In order to overcome an objection, we must first be aware of it. What objections are likey to occur over time on this community? Address them and suggest avenues to overcome these weaknesses.
Community Goals
Before you begin the plan, quantify the need for this marketing effort. Is there a lease-up time schedule? If so, figure out how many rentals are needed per week or per month in order to meet said schedule. Assuming a 35% closing ratio, how many prospective residents must the community see each week or month to meet the rental goal? What renewal percentage will you try to achieve? These will make up your “hard number” goals. Finally, you may want to nail down some “soft number” goals--the number of hours spent on outreach marketing, the number of follow up calls needed, and the number of resident retention contacts needed to achieve these “hard number” goals. Weekly goals can be the easiest to manage, as on-site teams can gauge their effectiveness at a glance. In this section of the plan, it is beneficial to write out the goals in paragraph form and then state them below in list form. This section will give weight to the remainder of the plan and can help justify marketing expenses contained within.
Visits per week:
Rentals per week:
Renewal percentage:
Outreach marketing calls per week:
Follow-up calls per week:
Resident retention contacts per week:
Position in the Marketplace
A Description of Our Customers:
Here, you will define your target demographic. List the age, income and occupational profile of your primary and secondary target markets. Discuss the lifestyle trends of these demographic groups. What other successful marketing campaigns (outside of the apartment industry) have been pitched to this demographic? Is there anything you can learn from them?
Where Do We Find More Customers In This Demographic Group?
You must run a zip code study of your area to find pockets of town where the demographic profile most closely matches your community demographic. In addition, you may want to list local employers whose employ individuals in your income range. To help you determine income by profession in order to identify target employers, visit .
Our Customers’ Needs:
What are these customers looking for first and foremost in a home? What is likely to be most important to them in their buying decision? If the main driver for your demographic group is money or value, go one step beyond to find another key decision factor.
What Sets Us Apart From the Competition?
Here, you will list your community’s most unique selling propositions, as compared to your competition.
Why Our Customers Choose Us:
List the likely reasons a customer within the target demographic chooses this community to call home. Where do your community’s unique selling propositions match the wants and needs of your target demographic groups?
Positioning Statement/Main Marketing Message
Find the marriage between the community’s usp’s and the customers’ needs and craft a statement that defines the value of your community. This will become the community’s main marketing message and will be the foundation of your community’s personality as it is marketed to the customer.
Our Marketing Message:
Marketing Campaign Specifics
Here, you will detail the specific elements of your marketing campaign, from print and online advertising to outreach marketing, from curb appeal to models, from brochures to promotional giveaways. A few general categories have been listed below. However, keep in mind, every plan will be unique according to the needs of the community as you see them, so this plan may expand or contract accordingly.
Brochures and Collateral:
Clubhouse and Model:
Drive-By Marketing/Signs, Banners, Etc.:
Print Marketing:
Online Marketing:
Outreach Marketing
• Employer
• Merchant/Cooperative
• Referral: Realtor, Locator, Resident
Direct Mail
Other Media
• Radio
• Television
• Billboard
Events: Grand Opening/Open House/Etc.
Resident Retention Strategies
Define particular resident retention/renewal initiatives to be included in this campaign. These may include systems for managing one-to-one resident communications, a calendar of monthly service or social events, a renewal contact program, or suggestions for renewal gifts and apartment upgrades.
Budget
Attach a marketing budget to accompany this report. You may create the budget using Microsoft Excel or place it in a Microsoft Word template.
Marketing Plan Action List
|Action Item |Month To Occur |Assigned To |Completed |
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