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Your Multifamily Website Needs Voice of Customer

Posted May 15, 2019 by G5

Today’s multifamily renters put substantial weight in the reviews and opinions of friends, family, and strangers on the internet. Before contacting an apartment community, they will have consulted a variety of digital touchpoints – from search ad to Yelp reviews. Incorporating the voice of your customers into your branding can help attract news leads by […]

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Stop Creating Hurdles to Leasing

Posted May 6, 2019 by G5

The temperature outside isn’t the only thing that’s heating up as summer approaches – so is the competition for multifamily search clicks. During this peak season, and throughout the year, having a streamlined website can help you convert more prospects into leads. Refining your website and making it both user-friendly and actionable helps eliminate possible […]

Hurdles

Multifamily Persona Development 101

Posted April 24, 2019 by G5

Today’s customer expects a highly customized experience at every touchpoint in the buyer’s journey. Before you can deliver this kind of experience though, you need to develop multifamily buyer personas for your brand. Buyer personas help ensure your marketing strategy engages buyers and generates leads. Creating buyer personas and journeys allows you to determine what […]

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Multifamily Searches Are Peaking, What Are You Doing to Get Found?

Posted April 15, 2019 by G5

Your properties can stand out on their own without having to incentivize potential renters with free rent. A few years ago, Google introduced the “Age of Assistance,” which speaks to the fast-moving consumer force that has high expectations for relevant, immediate, and hyper-personalized information. By meeting their expectations, you don’t have to offer concessions. And […]

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How AI, Machine Learning & Automation Are Helping Multifamily Marketers Become More Efficient

Posted April 3, 2019 by G5

Typically, when markets soften, budgets tighten. During this time, multifamily marketers can’t afford to lose leads. That means you need to find ways to stretch your marketing budget to attract more renters. Technology can help mitigate potential losses by increasing the effectiveness of your marketing. Artificial intelligence, machine learning, and automation reshape how marketers interact […]

Realtor showing house to a young couple wanting to rent it

Show, Don’t Tell with Virtual Property Tours

Posted March 25, 2019 by G5

Renters want to know exactly what they can expect before leasing an apartment from you, which means you need to do more than just list out features and show a few still photos on your website. Investing in virtual property tours allows you to show potential renters what they can expect in specific floor plans, […]

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Multifamily Designs Trends to Help You Stand Out Online and Off

Posted March 6, 2019 by G5

As younger renters enter the market, it’s important that multifamily developers, contractors, architects, and interior designers align their strategy with the preferences of this demographic. There are several multifamily design trends you need to know about if you want to stand out online and off. Larger Units According to Building, Design & Construction, condo and […]

Happy mid adult couple getting keys from realtor of their new home

A Guide to Branding Class A Multifamily Properties

Posted March 1, 2019 by G5

As multifamily markets become more competitive, it’s important that your properties stand out – especially if you own or operate a Class A lease-up in a city like Seattle or Boston. But getting top dollar rents isn’t easy, and resorting to concessions is never a good idea. The secret to reaching stabilization? It starts with […]

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Multifamily State of the Industry Report: 1st Half 2019

Posted February 8, 2019 by G5

Start the year on the right track with G5’s newest Multifamily State of the Industry report. This comprehensive industry overview focuses on market trends – the factors influencing supply and demand, construction starts, and what is driving the industry. The report also details current obstacles to multifamily policy, multifamily search and digital advertising trends, and […]

G5 Multifamily State of the Industry

Align Your Marketing & Sales Teams to Convert More Leads into Leases

Posted February 4, 2019 by G5

Do you need to improve your leads-to-lease conversion rate? Low conversion rates are often attributed to poor-quality leads. However, many of the obstacles that can affect a sales team’s ability to close start with how it partners with the marketing team. There are ways to overcome these obstacles and align both teams with simple, easy-to-implement […]

Do you need to improve your leads-to-lease conversion rate? Low conversion rates are often attributed to poor-quality leads. However, many of the obstacles that can affect a sales team’s ability to close start with how it partners with the marketing team. There are ways to overcome these obstacles and align both teams with simple, easy-to-implement program changes. The following is an overview of the tools and tactics you need to improve conversion rates. H2: Step One: Align Sales and Marketing Teams If your leads-to-leases conversion is low, there’s a good chance that your sales and marketing teams are suffering from undefined roles, expectations, and communication processes. You need to implement a balanced sales process that weighs the same metrics and measures of success for both teams – and then work on how each influences the conversion journey. According to Enquire Solutions, the four key stages of a successful sales process are lead generation and outreach, lead capture, lead nurturing, and closing. We’ll add a fifth – revenue-driven goals for sales and marketing teams. This last step will engage your teams to focus on new customers, rather than just lead generation. H2: Step Two: Automate Customer Service with a CRM Take some of the pressure off your sales and marketing teams with a customer relationship system (CRM) that streamlines your customer activity tracking. An effective CRM needs to be able to automatically import data from all lead generation sources, which will provide interaction monitoring, contact information management, and workflow customization across multiple departments. H2: Step Three: Improve Lead Contact Rate with a Defined Follow-up Process Follow-up is often overlooked or skipped altogether. Yes, it takes up time – sometimes a considerable amount of time – and resources that are already limited. That’s why a specific process is essential. Just how important is follow-up? Failure to follow-up within 10 minutes can result in a dramatic drop-off in qualified leads. Leads that are responded within the first 10 minutes have been shown to have a 185 percent higher conversion rate than those that are responded to in more time or not at all. H2: Step Four: Establish a Lead Nurture Program Similar to the importance of follow-up, an underdeveloped or ignored lead nurturing program is another reason why 79 percent of leads never convert to sales. Studies have shown that established and utilized lead nurture strategies not only convert more leads, they help make the entire process more cost-effective. Companies that excel at lead nurturing generate 50 percent sales leads at 33 percent lower cost. Content marketing and email are two ways to kick-start a lead nurture program. Both tools reach a defined, interested audience with relevant, conversational, and strategic opportunities to reach leads at the early stages of the sales process. H2: Learn More: How to Turn Digital Marketing Leads into Leases White Paper Converting leads into leases cost-effectively requires an established marketing and sales team approach. Learn how to further refine your team strategy with our full white paper. To start, it specifically details how multifamily sales and marketing teams can be balanced to work together. Next, it outlines how to choose the right CRM, develop a specific follow-up process, and how to nurture leads through effective contact management and tools. Download G5’s How to Turn Digital Marketing Leads into Leases white paper for the complete approach.

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