Insight 15: Take Back Control of Your Brand

By Jay Parsons, Tracy Saffos, Andrew Bowen and Jonathan Breakstone In the not-so-distant “old days,” most companies and public figures relied on newspapers to get their messages out. Newspapers and other media outlets were the gatekeepers. Your brand depended on advertising spend and placement. Today, pretty much everyone has their own messaging channels – websites, email lists, blogs, YouTube channels, podcasts, social media…and the list goes on. Companies and public figures control their own messages, their own brands, their own marketing strategies. Advertising spend is now strategic – particularly via search engine and social media optimization. And then there’s the apartment business, which remains among the few industries still reliant on old-fashioned subscription advertising. The format has shifted over the years from print to digital, but the basic concept is the same. Why haven’t we evolved more? Why Apartments Are Changing the Advertising Model There are at least five challenges with traditional advertising through third-party channels: Renters are doing more searching, less shopping Google and the various social media channels continue to change how consumers shop. The more sophisticated these tools become, the easier it is for prospective renters to find housing options that match their search. Traditional “shopping” means going through the virtual “aisles” sifting through many irrelevant options to find what you’re looking for. In the apartment world, this process can leave both the apartment operator and prospective renter frustrated and empty-handed. Imagine if your property is the most precise match for that renter, but you’re buried down the list due to less relevant competitors buying more expensive advertising packages. Searching can now be much more efficient – showing only relevant options. Scalpels are more precise than chainsaws Traditiona...