Our industry has a common misconception that luxury apartment marketing is easy.
Those beautiful properties with some of the best in-unit amenities and features available sell themselves.
Though there's some truth to the idea that higher-end communities are more recognizable to in-market renters simply because of their buzz locally, the reality is that there remain very legitimate challenges in luxury apartment marketing.
The biggest challenge? Dealing with the fact that there are more luxury apartments than ever means it's also harder to stand apart from similar communities vying for the attention of a smaller group of renters. Leasing doesn't occur automatically for higher-end properties simply because they are better options than others—they still require a well-thought-out marketing plan to thrive.
Here are some ideas for luxury apartment marketing that'll address those challenges and help sustain elite property performance.
1) Be authentic in your apartment marketing messaging.
We're saying to stop calling your apartments 'luxury'! (Yeah, so we've already broken our own rule.)
We love how our friend Stacey Feeney at Zipcode Creative describes it in her blog, "Luxury" In Multifamily Has Gotten Tired. She writes, "What once meant exclusive and the best-of-the-best, now seems surprisingly standard."
If you're marketing an A-class community, describing it as 'luxury' or 'state-of-the-art' doesn't win attention anymore (especially considering that 89% of all new units constructed between 2020-2022 are high-end).
What stands apart today is being genuine and accurate in your apartment marketing messaging.
You don't need to create fluff—renters see right through it. However, marketing messaging focusing on what your community offers and how it improves your renters' lives is a small but noticeable change that prospective renters seeking A-class properties will appreciate.
Renters can see and ascertain that your apartments are luxurious without you saying that.
2) Establish a strong apartment marketing brand.
Our friend, Stacey, also shared some great insight on the importance of your apartment community's brand.
She wrote, "By investing effort into shaping your brand, you enable your residents to envision themselves saying, 'If I choose to live here, I'll be X or feel Y.' This process of differentiation becomes paramount, even if your offerings and prices align with those of your competitors. Your brand acts as your distinct calling card, profoundly influencing how your residents perceive your business."
That couldn't be more true when marketing for a higher-end community.
Your competitors all have pools, clubhouses, and Peloton bikes in their gyms. Your brand gets you past those things. Make it distinct, original, and genuine to you.
Your competitors all have pools, clubhouses, and Peloton bikes in their gyms. Your brand gets you past those things. Make it distinct, original, and genuine to you.
And keep in mind your apartment's brand encompasses much more than your logo and color scheme.
Your brand is every part of your operation. If you have a beautiful A-class property with superior service and residents outwardly express their love for your property and their living experience there, that all becomes associated with your brand (and is much more valuable), too.
But here's the one caveat to branding that is important for apartment marketers at A-class properties to realize: Your brand doesn't automatically produce leases. A great brand can help you stand apart. Still, considering the competitiveness of getting a small renter class to choose your high-end property over the many others in their search, you need an effective marketing strategy working alongside your brand.
3) Develop a 'product-based' apartment website.
Renters come to your website wanting to know more about your product—the units they're potentially going to live in. That ought to be the focal point of every apartment community's website.
We often see apartment websites for luxury communities neglect this priority, focusing more on making the design and layout look beautiful and modern or 'brand-based' rather than informing prospects about what they're looking for.
Ironically, a 'product-based' apartment website that focuses on your living spaces and features that address prospects' basic needs promotes your community far better than any 'brand-based' website could.
What does a 'product-based' apartment website include?
There are three features every apartment community website should have for it to focus on product and enhance leasing:
- Eye-popping media content that lets renters see the inside of your units in every floorplan. Your floorplans are your product, and building your website first around floorplan-specific content addresses every renter's needs. They know how many bedrooms they need before beginning their search, and they deserve to know what the inside of that floorplan would look like before ever stepping on-site. If you're marketing for a higher-end apartment community, informative media content showing the inside of your units and amenities on your website changes the game! Their appearance and features already have a buzz; leverage that buzz by making those things the focal point of your apartment's website.
- Amenity information should be easy to find. Higher-end apartment communities set themselves apart by their amenities. From movie theaters, pickleball courts, dog spas, and everything in between, these differentiators are heavily influential to your prospective renters. Why not incentivize those things by making amenity details easy to find on your website? RentVision apartment websites distinctly prioritize in-unit amenities on floorplan-specific pages and property amenities with a dedicated page that includes photo and video content because we know how much of an impact that can have in helping prospective renters make the most informed decision in their apartment search.
- Unit pricing and availability must be up-to-date, accurate, and understandable. For your apartment website to serve as your most crucial marketing source, where renters become leads who sign leases, you must make it possible for them to know the two vital pieces of information that initiate action: price and availability. But, of course, those two things must be accessible and accurate for them to result in any leasing traction.
Again, these recommended website features aren't exclusive to higher-end apartments but are important because they put your renters first. In the competitive landscape between A-class communities, matching your amazing property with an excellent online marketing presentation will make a huge difference in getting more renters' attention.
4) Invest in a high-performing digital apartment advertising strategy.
No matter how well your apartment website meets renter expectations, it needs traffic.
The best and most efficient way to drive traffic to your apartment's website is through digital advertising campaigns on Google and Facebook.
These pay-per-click advertising platforms enable you to target relevant keywords for your apartment community, or one like yours, to create optimal visibility for them across search engines, websites, and social media channels toward renters who are actively searching and genuinely interested.
Plus, their advertising model aligns perfectly with the needs of multifamily properties as pay-per-click campaigns and budgets can be dynamically adjusted instantly—not just some advertising source you turn 'on' for the next year and will pay for regardless of your communities' needs.
However, the one significant difference for higher-end apartment communities is that they usually need more budgetary investment in their digital ads than smaller or B—and C-class properties.
How much should you expect to spend on PPC apartment ads, for example? A-class apartment communities may spend between $300 to $1,770 per month on PPC campaigns.
Why does it cost more to advertise higher-end apartments? You're competing with communities with higher marketing budgets, who are also vying for the attention of a smaller group of renters who typically undergo longer leasing processes.
Your renters want to ensure their willingness to pay a higher rent is rewarded with their desired living experience, which means they'll be slower and more thoughtful as they research and evaluate available communities.
If you're in charge of advertising for a high-end apartment community, you'll need to consider your renters' decision-making process and be more willing to fund more ad campaigns on more channels to remain present longer. This is essential for out-competing similar high-end properties for attention.
5) Improve your apartment's reputation by leveraging organic social media.
To continue our last point, considering that your typical renters undergo longer, more thoughtful leasing processes, leveraging your social media channels is a strategic win for higher-end apartment communities.
Apartment marketers can use Facebook, Instagram, TikTok, and other social platforms to highlight their property in many ways. Maintaining a consistent strategy for organic posting on your apartment's various social media channels, such as images or videos of your property, events, tenant testimonials, and more, is a worthwhile step to enhancing your apartment's online presence and positive reputation.
Marketers at higher-end apartments should really consider social proof in their social media strategy, as testimonials or tenant-generated content will continue to be one of the most impactful forms of persuasion. Touting your community's living experience is one thing, but it's another to let your tenants share their positive experiences on your behalf instead and incentivize the power of social proof.
As was stated earlier, authenticity in your apartment marketing strategy stands out to renters. It could be a deciding factor in someone choosing to lease from your high-end apartment community rather than another, even if they're similar.
Key takeaways for luxury apartment marketing
- Authenticity is key: Instead of relying on generic terms like 'luxury,' focus on genuine messaging highlighting your community's unique offerings and benefits. Renters value honesty over exaggerated claims.
- Build a strong brand identity: Invest in shaping a distinct brand beyond aesthetics to encompass the entire resident experience. A compelling brand helps your community stand out amidst competition and influences prospective renters' perceptions. When you make clear how your property is different from others, even if they share similar amenities, you will stand out to the right renters.
- Prioritize a product-focused website: Ensure your website showcases detailed, informative content about your units and amenities. Emphasize high-quality media, easy-to-find amenity information, and accurate pricing and availability, putting renters' needs first in their search process. All of those features are ready-made with a community website built by RentVision.
- Invest in a high-performing digital advertising strategy. There's no better place to begin than by utilizing RentVision's Predictive Advertising solution. We automatically adjust your PPC campaigns to generate demand before vacancies hit while allocating your budget daily to the campaigns that generate the most highly qualified traffic to your website. That means you get the right leads at the right time, all within your budget, helping you maintain a competitive presence across the most visible online platforms along the leasing funnel that renters seeking luxury-style apartments follow.