Multifamily Five Years From Now….

My annual prediction post…of sorts. Just a few quick hitters…

Remembering last year before we look forward to the coming five….

Assume that: 

Predictive analytics point people to the perfect Experiential Apartment Community (EAC) for them. One stop shop – if you will. Marketing as we know it – even today – will be rendered uninteresting and borderline useless.

Experiential Apartment Community

Apartment prices are predicated on twenty times the metrics they are today – think big social data.

Interactive Digital Signage trumps the kiosk and does most of the heavy lifting as it relates to leasing and service after the sale.

People choosing to do business with you do so by telling Siri (or, any equal) what they need and she taps into your community IDS and together these two Digital Experiential Monitors take care of it all.

Personal Experience Agents pick up where the DEMs leave off. If there is anything left to do.

The term social media finally gives way to something deeper and more meaningful.

Business newcomers continue to fragment people’s attention by inventing 300 new variations of review sites, ILS’s and niche communities.

ILS’s, middlemen and other business newcomers stay in better contact with your residents than you do.

ILSs service after the sale.

ILSs create loyalty programs.

Middlemen reinvent themselves such that he comes back with a crushing vengeance.

The Nest finally prices for the masses.

The Internet of things is near saturation.

Smart appliances, mechanics and hardware schedule their own maintenance calls.

Those same appliances, mechanics and hardware, once repaired, follow-up via the preferred method of communication.

They also, order up the part used to repair the problem.

They also, order in bulk for your portfolio assuring you bottom dollar pricing.

Your current apartment related job is either gone or looks 100% different from today.

What then? 

 

 

 

Predictive Analytics in Apartment Marketing

It is headed to an apartment marketing conversation near you..predictive analytics as it relates to harvesting big data.

Our good friend Jonathan Saar from The Training Factor wrote a piece a couple days ago that got me thinking about the next steps in apartment marketing. Certainly not to suggest that we have all mastered the last steps but it is fun to dream sometimes.

This is a pure prediction post. No basis. No foundation. No practical application. No case study.

Just sayin’.

Predictive Analytics

Predictive Analysis and Apartment Marketing. It's coming to a marketing conversation near you.

Wikipedia defines the term this way:

Predictive analytics is an area of statistical analysis that deals with extracting information from data and using it to predict future trends and behavior patterns. The core of predictive analytics relies on capturing relationships between explanatory variables and the predicted variables from past occurrences, and exploiting it to predict future outcomes. It is important to note, however, that the accuracy and usability of results will depend greatly on the level of data analysis and the quality of assumptions.

The most common use of predictive analytics comes from the credit card industry. Brass tacks – with a few bits of information, companies can predict your propensity to pay on time.

My Early Predictive Analysis Tells Me…

…It is headed to an apartment marketing conversation near you. By this time next year, we will all be talking or will have been talking about the manifestation of predictive analytics as it relates to harvesting big data. Big data to include mining the likes (no pun intended) of Facebook, Twitter, ratings and review sites, surveys (be them third-party or self-administered), property management software (although predictive analysis suggests no chance on that front!), your screening company and other relevant data bases. And, our mathematical models will take all that data to make predictions for us.

They will create and align the perfect personas with the perfect properties that fit those personas and they will send the perfect messages, with the perfect frequency at the optimal times. All behind the scenes.

Your really likes the idea of predictive analysis as it relates to marketing apartments multifamily maniac,

M

PicProps: vjeran2001

Here it comes: Predictive Analytics to Impact Multifamily Operations