Multifamily Marketing Increasingly Involves Leveraging Good Reviews

In multifamily marketing, as in nearly every other area of our economy, the Internet has changed everything. But one of the most significant transformations is already so ingrained that few realize what a difference it’s made: the importance of customer reviews. Long before the Internet, in fact most likely back to early civilizations, consumers were surely asking around to learn who had the freshest bread, the healthiest horses and the best-made weapons before making a trade or purchase. So customer reviews are nothing new. What’s new is the unimaginably efficient platform the Internet provides for sharing hundreds, even thousands of reviews about a particular product or service. Where not that long ago word of mouth was the chief conduit for reviews, today it’s unusual for anyone looking to buy something to skip the step of Googling to see what others are saying about it. This is almost completely a good thing for consumers. There’s no hiding bad products and services anymore, no pulling the wool over consumers’ eyes. You can compete on quality, features, price, or customer service, so there’s a variety of ways to win, but the “review economy” is merciless about pushing companies to constantly improve what they’re offering. Let people start saying bad things about you online and you’re toast. Isn’t multifamily marketing different, though? You might think that reviews play a far less important role when someone is searching for an apartment than when they’re, say, buying a set of headphones. Isn’t multifamily marketing just a whole different ballgame? After all, the prospect will likely take an on-site or virtual tour, check out the unit, amenities, and neighborhood, and make a decision strongly driven by their personal impressions rather than what other residents have said. But don’t kid yourself: In a survey by NMHC of what renters expect to see on a property website, 87% p...