If you’re managing social media for your company or considering a social media strategy, it might be useful to know some of the most valuable stats we’ve found. Here are five that might make you reconsider the way you’re approaching social media for apartment marketing.
1. 93% of marketers use social media for business
For businesses, the plus side of social media is not just customer engagement but cutting overall marketing budgets. The costs associated with a strong social media plan are considerably less than a traditional marketing campaign. If you’re not seeing ROI from your current strategies, try a social media service or free online resources via blogs and videos to help.
(Source: Erik Qualman, 2013 [Author of Socialnomics])
2. Fastest growing demographic on Twitter: 55-64-year age bracket
Get it out of your head that social media is just for Gen-Y. Stop excluding potential renters and expand your demographic set when creating a social strategy.
(Source: Jeff Bullas, 2013 [Ranked #11 on Forbes Top 50 Social Media Influencers List])
3. 25% of consumers using social media expect complaint responses within 1 hour
The good news is if consumers are taking the time to complain about your product, they’re giving you the opportunity to win them back. Did you know that 88% of consumers are less likely to buy from companies that ignore complaints and questions on social media? The worst thing you can do is ignore what they have to say. Instead, instill a sense of urgency in your team’s response times. Put a reputation management and approval workflow strategy in place to guarantee concise and accurate communication.
(Source: American Express, 2012)
4. 52% of shared content comes from Facebook
Your residents are your best brand ambassadors—leverage them as fans. Create relevant, sharable posts that are of interest to your renters. As the number one destination for sharing content, use Facebook to create resident engagement and brand awareness by capitalizing on current events in the neighborhood or city you live in. For example, create a post providing the local bar specials for football Sunday. Each post is an opportunity.
(Source: Business Insider, 2013)
5. Companies generating 1,000+ Facebook likes receive nearly 1,400 daily website visits
There is a direct correlation between social media success and overall marketing success. If your residents or prospects are active in the social space, social media should be one of the primary channels you use to market and communicate with them. You will see better return on investment and have the opportunity to reach maximum effectiveness when you support your marketing efforts with a social plan.
(Source: HubSpot, 2013)
There is no question about the substantive impact of social media on commerce and business economics today. Eric Qualman defines “socialnomics” as the value created and shared via social media and its efficient influence on outcomes. He states, “As a result of the ease and speed with which information can be distributed across social networks, the winners today are great products and services—which ultimately means that people win.”*
The multifamily industry has seen a major shift in the way we engage prospects. Hopefully these social media statistics will bring a fresh perspective to your leasing teams as they identify trends and adjust social media strategies accordingly to produce winning outcomes for your property management companies. What social strategies or tools do your teams use to engage current and prospective residents?
*Socialnomics: How Social Media Transforms the Way We Live and Do Business, Erik Qualman, John Wiley & Sons, Inc., 2013.
Image Credit: iStockphoto
