Roundtable Discussion: Marketing the C-Suite Cares About

Executives from leading firms weigh in on the marketing practices that company leaders value most.

An effective marketing strategy is an essential cornerstone for a multifamily company’s success. But the marketing department doesn’t work in a silo, and the C-suite usually has specific key performance indicators for long- and short-term campaigns., Multi-Housing News spoke with several multifamily leaders to learn what matters when it comes to marketing best practices.

Here’s what Jamie Gorski, chief experience officer at Windsor Communities had to say.

How do you strike a balance between short-term marketing goals and long-term brand building?

Gorski: It’s difficult to set aside the time and budget needed for long-term brand building, but it’s an essential investment to make in order to grow the brand. Historically, we have spent more of our marketing budget on lead generation. However, we are driven by a commitment to our brand’s mission of creating communities where people feel truly cared for. Windsor is dedicating more resources to brand-building through consistency between properties, a focus on delivering superior service and developing partnerships, awareness campaigns and brand activations across our portfolio. Our goal is to build loyalty with our customers and trust with our associates, which we believe will lead to better performance, year after year.

What matters more: How many likes/interactions a marketing campaign or post receives or how many conversions it leads to?

Gorski: We generally weigh conversions more heavily than likes and interactions. Performance is our priority! However, we recognize that there is immense value in likes as that is an indicator of interest in the brand. Based on MRI Estate Software data, 80 percent of apartment hunters look to social media before signing a lease and choosing their next apartment. Social can boost the sense of community which translates to emotional currency, especially when connected to “home.” But ultimately the most valuable metric for the business is when a customer moves from the awareness to intent stage, marking the beginning of a customer’s journey through the sales funnel and increasing the likelihood of converting a prospect to a renter.

When the C-suite of a company and the marketing department meet, what does the C-suite typically prioritize? What can the marketing team bring to the table to ensure a productive meeting?

Gorski: At Windsor, performance is our priority. It’s essential for us to present our marketing efforts as they relate to our top-line operational goals. It’s essential to lead the conversation with data that illustrates how marketing efforts, like customer satisfaction and branding, add value for the future and ultimately drive the bottom line. Our C-suite also appreciates conversations that have an eye on the future and how we will address the shifting trends and expectations of customers. Our team recognizes that the investments that we make in our brand today are an important part of ensuring a secure future.

Are there any emerging marketing trends or technologies that you think will have a potential impact on the real estate industry?

Gorski: Artificial intelligence will revolutionize the industry and the world. The ease of use and sophistication of these tools have already had a transformative impact on the way that we do business. Our AI leasing tool, Elise AI, had a major impact on our day-to-day operations, streamlining our customer communication and allowing our associates to focus on the tasks that matter to our mission. AI tools have also been essential for personalized marketing, allowing us to leverage preference data and present customers with the information that matters most to them. We continue to test ways that we can use AI effectively, such as through AI voice to help manage telephone volume and generative AI to help with content creation, personalized marketing and identifying trends in customer needs.

Additionally, Windsor is evolving our business model to centralized leasing, maintenance and support services. We strongly believe that this investment in our people, processes and technology will allow our associates and customers to thrive. Using AI, as well as regionalized sales and maintenance, flexible touring and new CRM technology, we can streamline the experience for customers while freeing teams from mundane tasks so they can take on bigger, better roles within our company and deliver on our mission to create communities where people feel truly cared for.