Despite the economic tribulations brought on the U.S. in the last few years, the real estate industry is hot. Aside from the increasing demand for more homes and commercial spaces, the multifamily industry is expected to grow remarkably up until 2030. So, how can you harness some of this data in your multifamily content marketing?
Let’s discuss …
A report from the National Multifamily Housing Council (NHMC) and the National Apartment Association (NAA) states that demand for multifamily real estate will be so great that at least 4.6 million units will be constructed within the next decade.
However, to make the most of these promising forecasts, multifamily real estate companies must learn to optimize data when creating multifamily content marketing.
Why Data Is Crucial in the Multifamily Industry
Data is crucial in every industry as it can improve conversion rates, increase traffic, and prevent knowledge gaps. To illustrate, a Bain & Company study states that businesses in the U.S. could increase profits by over $2 billion annually by utilizing data. Thus, data literacy is integral to professionals — including those who don’t work in the data analytics field.
In fact, today’s business degrees are becoming more interdisciplinary, covering topics like contemporary technologies and data methods. Modern online bachelor’s in business administration even have concentrations in data analytics and management information systems, which are taught alongside traditional business concepts, such as accounting, management, and business law. This shift only shows the growing expectations placed upon business people to be more data literate.
And this translates to the multifamily industry as harnessing data effectively can lead to more intimate understandings when it comes to trends, more accurate insights into future movements, and more effective multifamily content marketing creation.
How to Integrate Data Into Your Multifamily Content Marketing Strategy
1. Use data to drive contextual storytelling.
Good communication should paint a vivid picture, even if the topic is technical. After all, consumers need to understand the material for it to be impactful. However, multifamily marketing campaigns must also present information that audiences can relate to or find use in to have a lingering effect. This is where gathered data comes in. Using soft and hard data, you can create a well-rounded customer story that provides context, evidence, and insights. Thus, when crafting multifamily content marketing for your customer story, use data collaborations to maximize relevancy.
2. Leverage data visualizations.
Nothing hypes an exciting data set more than visuals. Though some data diehards may disagree, the truth is that visualizations make data more appealing and digestible. In fact, a study by iScribblers found that humans process visuals 60,000 times faster than plain text. Thus, should you have any pertinent data that needs sharing, explore doing so via infographics, interactive tables, or even videos.
Aside from being more immersive and interactive, data visualizations can increase recall value by upwards of 65%, making it a critical medium in data dissemination, externally and internally.
3. Only pick the most salient data points.
Although publishing every bit of data you gather may be tempting, the best way to share them is to circulate the most notable highlights in your multifamily content marketing. This benefits you two-fold. First, more succinct datasets allow you to retain an audience’s attention span (only eight seconds). And, second, shorter data — and content, in general — is more digitally compatible.
Considering that mobile compatibility and software development is credited by 59% of those in the multifamily industry for improving customer service, it’s also no surprise that there is now a demand for software programmers with a degree in computer science. However, whatever platform you use, your audience won’t be engaged if you present them with a hodgepodge of figures and statistics.
In line with this, data expert Dr. Stephanie Evergreen told Forbes that “cutting to the chase” with your findings is a better way to engage the 50% of audiences who view such content on their mobile devices.
Although experts agree that the real estate market’s long-term future remains unclear, the influence of multifamily content marketing and the power of data is undeniable. As multifamily businesses aim to adjust to the New Normal, data-enriched content can act as an anchor and a propeller for industry stability and profit.
Selena Perkins is a freelance digital marketer, with a keen interest in data analytics. She believes that knowing how to use data to make decisions is a must-have skill for everyone. When she’s not busy with work, Selena unwinds by watching shows on Netflix.