May 24, 2023
The Importance of a Strong Marketing Strategy for Build-To-Rent Communities
With renting becoming more popular than ever, build-to-rent communities are on the rise and delivering single-family homes perfect for renters by choice. As the build-to-rent industry becomes more saturated, home builders and real estate developers need to create a successful marketing strategy that is strong and effective to stand out against their competitors.
What is a Marketing Strategy?
A marketing strategy is an extensive plan detailing a company’s branding objectives and marketing goals. Through much market research, home builders and real estate developers determine consumers’ wants and needs, target audiences and real estate personas, and branding tactics to produce a strong marketing strategy for build-to-rent communities.
Build-to-rent communities that boast a productive strategy for branding and marketing reap several benefits, including:
A good marketing strategy and brand awareness go hand in hand. Having a bold-yet-engaging brand presence helps build client trust and boosts the company and community’s reputation. Enhancing your build-to-rent community’s brand awareness allows prospective renters to feel confident working with you and turns shoppers into renters.
Developing a brand is not an easy task and can make or break your business – it is crucial to conduct research and spend time with your team to produce a brand that perfectly represents your home building or development company. Make your brand memorable -- a few ways to increase brand awareness are creating high-quality media content, implementing personality within branding and partnering with like-minded businesses or associations.
Standing out from competitors is essential, especially when it comes to build-to-rent communities. Real estate developers and home builders must differentiate their communities from others by using branding that delivers a unique aesthetic, distinct message and clear purpose. Utilize methods within your marketing strategy that attract the target audience while providing an unparalleled experience and memorable branding.
Boosting lead generation should be the top priority in mind when creating a marketing and branding strategy for build-to-rent communities. Finding ways to approach the target audience where they will best consume the information is key.
While there are several tools to utilize when trying to grab prospective renters’ attention, it is important to determine which option works best for your company and built-to-rent community to drive more leads. Social media is great for reaching younger generations through intriguing content, easily implemented calls-to-action, targeted ads and much more. Home builders and real estate developers can also include streaming audio platforms and public relations services within their marketing strategy to broaden the audience.
Benefits of Renting a Home vs an Apartment
Renters often struggle with the decision of renting a single-family home or an apartment. While both apartments and homes have pros and cons, single-family housing has much more to offer! Make sure to play this up in your marketing strategy.
With more build-to-rent opportunities coming on the market, single-family homes are more affordable and available to rent than ever. When renters choose a single-family home rental, they have the opportunity to rent a space that feels like home without the hassle of parking, nuisances and restrictions of an apartment. Plus, renters don’t have the hassle of maintenance. Build-to-rent communities offer rental homes that provide renters by choice benefits such as:
• Privacy – renters can enjoy the privacy provided by their own backyard – and in many cases fenced backyards for their four-legged friends to enjoy as well!
• More Indoor and Outdoor Living Spaces – build-to-rent communities offer renters more modern and flexible home designs than apartment living.
• Storage Space – apartment living provides little to no storage, so renters love build-to-rent communities that offer storage options they didn’t think they could enjoy as a renter.
• Limited Design Freedom – although renters will not enjoy the same benefits of personalization as a homeowner, build-to rent communities do offer many options to personalize their spaces compared to apartment living.
• Amenities and No Maintenance – renters can enjoy the lifestyle without the responsibilities of homeownership.
• Lifestyle and Convenience – many build-to-rent communities are strategically located near transportation, entertainment, dining, and work opportunities.
Develop an Effective Marketing/Branding Strategy with Milesbrand
Our team at Milesbrand takes pride in perfectly crafting branding and marketing strategies to help the target audience clearly understand your brand and build-to-rent community’s purpose. Discover more about our services and partner with us today by contacting our team!