Proving the Instant ROI of Video for Multifamily

By |2018-04-25T14:15:08+00:00April 25th, 2018|

It’s pretty clear that video can be a dream for today’s marketers. It’s easy to use, simple to produce and, well, it works. As in – it REALLY works. 78% of people watch videos online every week and 55% every single day. Add to that the fact that viewers retain 95% of a message when they watch it in a video, compared to 10% when reading it in text, and it is a marketer’s dream way of communicating a message. 

That’s why 87% of online marketers are already incorporating video content into their marketing plans. Key word: plans. Without a plan in place for your video efforts though, it will be hard to tell whether your video efforts are making an impact and proving an ROI. Before that first video is pushed out to the market, there should be a plan for tracking and measuring the success of your video efforts. So, what does that mean? What could that look like? 

There are a number of ways multifamily marketers and managers can measure the ROI on their videos. Generally speaking, marketers can look at impressions, views, clicks, shares and more to determine the success of a video. And those are great ways to measure video success; however, in the world of video, you can get much more strategic than that. Video goes beyond social media and tracking must extend to every medium (text, email, social, etc.). Not just that, you can / should / must track individual shares and views as well. There are 100 million hours of video watched on Facebook every day. Sorting through all of that with your videos could be quite the nightmare without a plan and technology in place for doing so. 

Another integral part of tracking? Your lead management system or CRM. Tracking who you shared videos with, when, and what videos were shared will allow you to later view reports and export data to see where, when, and how sending videos influenced leases. The ultimate success is leasing success. Make sure to track it.  

The ultimate goal for any marketing endeavor in multifamily is driving qualified leads that convert into a signed lease. As the industry realizes the need and relevance for videos, both live and pre-recorded video, that should be the end result. To make that happen, leasing agents and property managers need to have a dedicated video leasing solution, they need to have a set process, and, ultimately, need to have trackability built in. Those are all key factors that must be accounted for and influence the ultimate success of your video efforts. 

Using a video leasing & engagement platform that offers those specific features and is built for multifamily will not only provide a defined process that can be followed by onsite teams, but can also provide almost immediate ROI. Within the first month — sometimes the first week — leasing teams can see the benefits of having video as an asset for their marketing and leasing efforts. For prospective residents, trust and transparency are everything. Using video to instill that trust and transparency into online interactions can streamline, increase, and expedite leasing efforts in incredible ways. 

Using a video leasing & engagement platform specifically designed to meet the needs of multifamily professionals can give your company and teams a clear path to ROI on something that most in the industry may never have thought of as an ROI-generating initiative. But here’s the thing – don’t just take our word for it. Check out the below testimonials touting the immediate success and ROI that multifamily teams across the country have experienced on Realync: 

“In the past week we received 3 out of state leases for the spring by sending them pre-recorded videos.”

– Milhaus’ Highland Row

“Within the first few weeks of using Realync, we secured an application sight unseen using a Realync video tour. The resident moved in less than 30 days after watching the video tour!”

– Panther’s Villas at Houston Levee

“We did a live tour right after our Realync training the other day and we     successfully rented based on the tour to someone coming from out of town!”

– Chestnut Hill’s Waterview Village

“Prospects love the videos and we have gotten about 5 leases off the videos alone.”

– Fairfield’s Mave within the first months of being on Realync

“It was great! The prospect enjoyed it very much and will be applying for a 3 bedroom.“

– Watermark’s Watermark on Walnut Creek immediately following their first live video tour hosted on Realync

Can you create videos without using an enterprise platform? Yes. Will you lose out on the trackability and enterprise-level functionality that is proving the ROI of video? Yes!

It’s time to get strategic with your video efforts. Don’t miss out on the success that video can provide and truly prove that it is a successful, ROI-generating endeavor by going with multifamily’s only video leasing & engagement solution…Realync. 

Want to learn more and see what video can do for your teams? Contact sales@realync.com for your demo today.

Until next time…keep it real! 

About the Author:

I was fortunate enough to flip my first house the Summer before Senior year in high school and ever since real estate and entrepreneurship have been my passions. I get to live out both of those passions every day by helping real estate professionals from around the world market, advertise, lease, and sell their properties and spaces in new, innovative ways using video.