31 Mar Giving Existing Multifamily an Edge
There’s no beating the newest, shiniest apartment project, right? Wrong. Though the appeal of cutting-edge finishes and technologies can’t be denied for certain demographics, with the right branding and positioning, older multifamily communities are seeing occupancy rates increase and even rival their newer competition. Can updated signage, a cool website, and a new logo really make that much of a difference in your property’s perception? Yes. By investing in your brand and marketing, you’re showing current and potential residents that though the complex may be older, it’s not stuck in the past.
If you’re ready to bring an older complex into 2017, the first place to start is the website. Template websites may be convenient, and cheap, but if a prospective resident is actively looking for an apartment, chances are they’ve seen that template with a different logo 15 times over by the time they reach your site. Hit a happy medium by investing in a unique site that can be adjusted to fit each property in your brand. Not only will this site make your property stand out from the crowd before a prospect has even visited, it will send a clear message that your company understands what they’re looking for and are committed to delivering a quality product.
Take a good look at your property’s logo next, is it saying what you want it to say to the people you want to reach? Your logo will tie together all of your new branding efforts, so if you’re trying to bring a complex from ‘dated’ to ‘modern’, a sleek, updated logo should be at the top of your list. Bright colors, clean lines and bold text are the hallmarks of a good property logo in 2017, and just think how easily readable that will be on your new signage. Which brings us to our next point..
Most property managers will tell you that ‘drive bys’ are a vital part of their traffic flow. So, as new properties begin to crop up around your existing one, don’t let outdated signage deflate your traffic numbers. A well-designed monument sign draws prospects in and then sets the tone for their entire experience within your community. Eye-catching signage within the property –directionals, bootlegs, even flags and banners – also augment the image of a property and can help it to be perceived as an active, ‘user friendly’ place to live.
Last, but certainly not least, is the collateral your prospects take away with them after the tour. This could be anything from a business card or brochure to a branded water bottle or folder of inserts. Again, this theme of sticking out from the crowd is key here. Yes, you could just hand them a black and white photo copy of a floorplan insert, but that will be forgotten by the time they reach their car. Consider creating a brand standard, stemming from your logo, and creating interesting, lasting collateral pieces that simultaneously put your best foot forward and leave a lasting impression.
With multifamily construction booming, it can be overwhelming trying to get your older complex noticed, but we’ve done just that for our clients! Check out some of our work, and if you’re ready to take the plunge, let us help you give your older complex a new edge.