How AI, Machine Learning & Automation Are Helping Multifamily Marketers Become More Efficient
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 with and rely on technology. By taking advantage of these innovations, you can increase the efficiency of your marketing strategies.
Before diving into how technology can help increase operational efficiency, it’s important to define the terms. When we speak about automation, we refer to the application of technology in order to control and monitor the delivery of various services. Automation completes tasks previously performed by humans. Artificial intelligence, or AI, refers to the theory and development of computer systems to perform tasks that normally require human intelligence. This includes visual perception, speech recognition, decision-making, and translation between languages. Machine learning is an application of AI in which systems automatically learn and improve from experience without being explicitly programmed.
Why You Should Get Serious About AI, Automation, and Machine Learning
The next generation of marketing efficiency will come from smart systems that use advanced technologies like automation, AI, and machine learning. You should get serious about adding these technologies to your marketing strategy in order to reduce human errors and increase marketing efficiencies. Manual systems and processes that require analysts to pour over data, make decisions, and build new strategies will quickly become a thing of the past. By automating your digital ads, for example, you can avoid mistakes in your ad spend and save money by targeting the right people with the right ad at the right time.
What is G5 Doing to Automate Marketing
At G5, we have developed and implemented various technologies to make marketing more efficient for our customers. Automating processes allows us to speed things up. By adding machine-learning and AI into our marketing capabilities, we’ve taken a gigantic step ahead of where most digital marketing companies are today.
Pulse | G5 Reputation & Social Management
This AI-driven technology reads and understands every individual online review for your property, helping to keep a pulse on what your customers are saying about your it online. G5 Reputation and Social Management gives you a clear breakdown of customer sentiment from reviews across online sources, along with the topics that are driving the highest and lowest sentiment at each of your properties. Leveraging AI to tackle the time-consuming task of reading reviews gives you time back in your day so you can focus on programs to increase loyalty and revenue.
Google Responsive Display Ads
G5 uses Google Responsive Display Ads, which leverage machine-learning to test multiple combinations of images and ad copy in order to build the best-performing ads. The system builds and tests several combinations of different headlines, images, descriptions, and logos. It optimizes campaigns to display the best-performing combinations to an audience. This helps us save time so we can run the most effective campaigns for you based on a variety of messages and images.
Lead Insights provides rich conversion data that tells us which campaigns and keywords are driving engagement. We can then feed this data into AI systems so that we can better optimize campaigns and campaign spend to deliver higher quality leads. Using and analyzing Lead Insights helps you get the most bang for your marketing buck, which becomes even more important during softened markets.
Use Technology to Your Benefit
We highly encourage multifamily marketers to consider integrating AI, automation, and machine learning into your marketing strategy. These advanced technologies can help you achieve the efficiencies and margin expansion you will need in the future. Stretch your technology stack to drive down operational costs by taking advantage of the next generation of efficiencies that will come from smart systems using these technologies.
For more information, download the newest Multifamily State of the Industry report from G5.