Social media is no longer a fad that only certain niche groups use. With over 200 million users on Facebook and 25 million on Twitter, it can no longer be considered a “fad” in any regards. Social media has developed a global reach spanning all generations, and it has become a powerful communications tool. With conversations already going on about the multifamily business across many social media platforms, Essex Property Trust feels that it is necessary to fully engage in this realm of communication.
Currently, Essex Property Trust uses social media for our lease-ups and to promote our company as a whole. Our primary venues of social media are Facebook and Twitter. Our goal is to engage with a wider community in which we can attract a variety of people who are interested in learning more about our apartment communities, the neighborhoods that we are in, the company and its culture.
The Essex Property Trust Fan Page on Facebook and Twitter feed are intended to be multi-faceted outlets to promote our company, brand, properties, E-Team and vendors as well as tools for engaging with our current residents, future customers and future employees. In addition, Essex Property Trust creates individual property Facebook Fan Pages for properties like Studio 40-41 and The Grand, and Twitter accounts like Studio 40-41 and The Grand, to maintain a local focus.
What may surprise people in the multifamily business is that we do not consider social media to be a source of advertising in which you gain immediate rentals from. Our studies show that social media is 95% effective in resident communication and retention, and 5% effective in attracting new leases. Social media is primarily a way to engage directly with our current customers and build brand loyalty. It allows us to get more information out there about who we are and what we have to offer.
We realize that we are no longer in the business of selling just our communities – we are selling our neighborhoods as well. That is what connects with people and brings them to our communities. Therefore, we promote local businesses like pet boutiques, neighborhood events and city events. We also include recommendations like favorite restaurants that are nearby, farmers markets or an event like a music fest or Art & Wine Festival. To generate a more personal tone, we include apartment decorating ideas, apartment living tips and various news articles that are relative to our business and our company.
Social media is not one-way communication. Our “fans” on Facebook and Twitter followers can post reviews, ask questions, create discussions, learn about specials or give recommendations. We can address concerns that people may post in a public arena instead of a blog or apartmentratings.com. The opportunities for reciprocal engagement are limitless. For these reasons, we encourage all prospects who tour a community to join our Facebook Fan Page or our Twitter feed, as well as the residents who are already living at our community.
Finally, it is important to note that you do have a responsibility to continually market your presence via social media; otherwise, it will go nowhere fast. It must be executed properly and embraced as a communication tool and not a playground, for the lack of a better term. Each voice represents the company and should not be taken lightly. It needs to be continually managed. Unresponsive communication or lack of updating the content on a regular basis will only serve as a failure. This should not be a throw it, get it up and forget about it kind of function. Once you launch it you need to be actively involved while maintaining a balance with the critically important items of your business.
To see photos of Darcey’s trip to MTC, visit our Facebook Page
by our fabulous client, Darcey Forbes from Essex Property Trust, dforbes@essexpropertytrust.com
