Apartment Internet Marketing – Exclusivity

Came across an interesting survey at over at emarketer that spoke to the want’s of social following. The results were captured in the following chart:

Reasons for Friending or Following Companies Through Social Media According to US Consumers, December 2009 (% of respondents)

Using this chart as a catalyst, we are going to do a five part series titled: The Five E’s of Apartment Internet Marketing. The overarching premise will be playing to the want’s of would be apartment Facebook, Twitter and other social medium friends. We start the series with Exclusivity.

What is Exclusivity?

Exclusivity can be defined as the sole right to a specific business function. AT&T’s exclusive right to market the iPhone is likely the most paramount example of this. Beyond that there is a huge push by aggregators to secure exclusive rights to content. We have seen this with the likes of Harvard Business Review striking a deal with an aggregator and Steven Covey striking a deal for distribution on Amazon’s Kindle. These are mass examples of exclusivity but the concept can be applied to things as simple as white papers. In this case the exclusivity comes in the way of getting for giving or more specifically, give me your email address and I will give you the white paper. It’s exclusive in the sense that not everyone would be willing to give personal information to get.

Value Exchange

The overarching point is that exclusivity has a give and take scenario baked in. You give up Sprint to get the iPhone, you give up buying from B&N and buy a Kindle so you can read Covey, you give up personal information to get information. The goods, services, experience or information requires an action on the part of the consumer and guess what, it’s the overriding reason they friend brands. They want to learn about specials, sales, etc..

Consumer Expectations

Human beings have a few things in common – one being the innate need to feel important, wanted or needed. When we apply that fact to the concept of exclusivity we can clearly see that the perception of being a part of what could be considered an elite group is compelling. We own an iPhone so we can feel cool. We read the HBR so we can feel cool. We read the latest Covey book so we can feel cool. We found our apartment on Craigslist and it was a great deal so we feel cool. Consumers are willing to give up stuff and things to feel important, wanted or needed – all day long.

Offer it and they will come

As it applies to Apartment Internet Marketing in the context of social mediums – more times than not, if you offer it they will come. Now, before I go on, I am not suggesting that you can just put any old thing out there and expect participants to join in, you have to work it. You have to willing to commit to listening, joining in, trying, failing, retooling and trying again. Otherwise it’s all for naught. I am suggesting, however, that if you do things as simple as offering a rent concession to the resident that increases your fan page base the most, or something we eluded to awhile back with tryvertising, or simply setting up a kiosk in your lobby set with twitter and facebook and asking anyone that walks in the door to friend you – you will gain an audience. However, it does not stop here…

…in part two of this series we will talk about what to do with that audience: Education

In the mean time, feel free to continue the Exclusivity conversation by leaving us a comment below.

And, have a compelling day!

Author: Mike Brewer

Out to put a dent in the multifamily universe. Love compelling conversation...