Welcome to the official blog of Block Real Estate Services, LLC (BRES). BRES seeks to offer insight and news concerning commercial real estate, financial investments, construction and development of the 212 communities we serve locally and nationally.

Thursday, September 25, 2014

Marketing to Millennials-Are You Positioned Correctly?

Marketing to Millennials - Block Real Estate Services, LLC
Millennials are the largest and most educated generation currently. Because of their size they have impacted the way companies and even property management companies are communicating with their customers. Most have switched to methods of creating a personalized communication as this is the type of communication the Millennial generation has responded the best to. A personalized communication is a unique message that utilizes nicknames, culture specific terms and unique vocabulary. With traditional media channels creating a unique interaction is next to impossible. This is why property management companies of multifamily units are turning even more to social media and websites to reach out and connect on a personal level with the Millennial audience.

Social Media
Block Real Estate Services, LLC
88% of the Millennial generation has a Facebook account, this is the most of any social platform. Over the past few years property management companies have started to engage with their community members through Facebook and other social media outlets. These sites provide a way for the members and community managers to communicate in an open, neutral way. Gone are the days of calling the office during business hours to complain or request maintenance. Now community members can leave a post at anytime on the community's Facebook page. For the Millennial generation this is import because they want to communicate when they think about it and in the most convenient way possible. This public interaction between community managers and tenants allows for a personal touch that is strengthened by:
  • Replying in a timely manner to comments and messages
  • Addressing concerns or problems publicly
  • Posting events that are important to the tenants
Facebook is not the only social media site out there but currently provides the best way to communicate with the Millennial generation. By having a more public communication platform prospective tenants and friends of current tenants can see that the community is engaged. This engagement helps with the community's appearance to outsiders as an attractive place to live.

Block Real Estate Services, LLC
Millennials are always connected and viewing sites or using apps with their phones, tablets and computers. This growing trend opens up a new/old way of reaching them. Banner ads, while an old idea, can be utilized with custom landing pages to create a unique experience for Millennials. By creating a unique experience based on the content of the referral site the feeling of a personalized communication is imparted to them. A personalized feeling can also be accomplished from the main company page by engaging in blogs, videos, and promoting user experience stories. These ideas can also take place during the construction phase. During the construction of WaterCrest at City Center, live video feeds are available to show the progress being made on site. This contributes to the engagement taking place with prospective tenants, adding to the sense of community and the personal touch. Beyond live videos, once the WaterCrest project is completed, there will be time lapse and aerial progress videos to share with the community on both the website and social media platforms.

Millennals are driving a change in the way multifamily developments are progressing in the Midwest. As a development force we are consciously trying to balance the current micro-unit trend with the Midwest desire to have a little extra space. With the development of CityPlace, Block Multifamily Group, a service of Block Real Estate Services, LLC (BRES), is gearing up to reach the Millennial group through our marketing plan. Click here to learn more about the CityPlace development.

Justin Larson - Block Multifamily Group

Justin Larson
Vice President of Operations
Block Multifamily Group

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