Apartment Blog

Many of us heard Hyundai’s story in which they promised to let owners get rid of their vehicle should they lose their job. The auto company was acutely aware that people were afraid to make big purchases. So Hyundai announced it’s Assurance Program at the beginning of 2009, a pledge to let people return new vehicle purchases within the first year of ownership without penalty should they lose their source of income.  This incentive apparently worked as Hyundai rebounded from a 48 percent sales drop to a 14 percent sales increase in that time frame according to AutoTropolis.com.

While having that security on your newly purchased car is comforting, should you lose your job your biggest worry would be a place of residency! Rest assured there is a program called Lay-off Proof Lease which provides 60 days of rent-free living if you lose your job.  And after that time, if you don’t find a new job you may cancel your lease without penalty. Can you imagine that? If you lose your job and you live in an apartment community that is a participating property, you can live rent free for 60 days (restrictions do apply).  Bet you’re wondering what properties near you are participating properties, huh?

Well, that is easy to find! If you go onto ForRent.com and click on the search page you will see in the middle of the page ‘Search for Apartments by Name’, click on ‘Property Management Companies’. If you type in ‘Goldberg Co., Inc.‘, you will find a list of apartment communities that are participating properties in Ohio such as Granda Gardens Apartments in Cleveland and Settler’s Landing in Streetsboro. Are you looking for an apartment in North Carolina? Legacy Crossroads in Carry or Legacy North Hills and Barrington Place in Raleigh, North Carolina offer the lay-off proof lease.  How about Florida? Apartment communities include Cypress Grand and Westwood Reserve at Citrus Park in Tampa.  How about if you’re living in Texas and want to find an apartment community offering this incentive? Don’t worry, Toscana at Sonterra Apartments in San Antonio will take care of you!

Goldberg Co., Inc. prides itself on having a level of maintenance and management that is unparalleled in the real estate industry.  The apartment residents and office tenants are proud to be in some of the most attractive buildings and surrounded with the most up-to-date facilities and highest quality on-site management.

During these economic times, uncertainty is guaranteed.  There are very few people whose job is 100% recession proof, so having an apartment community that understands should a situation arise is very reassuring.  Weathering this economic storm would certainly be easier with more companies taking on this incentive.

Economic times have many businesses thinking twice before they spend their money. However, numerous studies, going back as far as the Great Depression, have shown that maintaining or increasing advertising during tough economic times yields greater results than advertising during good times. According to a recently released article titled, “Advertising in a Recession: In Chaos Lies Opportunity,” advertisers who can maintain or increase their advertising investment will see a greater impact in their advertising. During the recession of the early ’80s, research shows that firms that maintained or increased ad spending during those tough economic times enjoyed significantly higher sales growth, both during the recession and for the next three years versus those that eliminated or decreased advertising.

“In the middle of difficulty lies opportunity”- Albert Einstein

Below you will find ten helpful tips for advertising during tough economic times.

1.      Maintain Quality Customer Service

Current and previous customers are your most valuable asset when the economy’s in a bad place. They already know, like, and trust your business. You can avoid the usual sales and marketing costs to introduce them to your business. Instead of chasing new customers, target the ones you’ve already got. Customer service is even more important in challenging times.

2.      Gain Market Share at Your Competitors’ Expense

During the last recession, McDonald’s almost tripled their advertising campaign at a time when their competitors, namely Burger King, were cutting back. So even though this may seem counter-intuitive, tough economic times may be the time to increase your marketing.

3.      Increase Your Visibility

Consumers don’t stop buying during tough economic times. They may become more selective, but they are still going to buy-most likely from a brand they know. The more visible you are, the more confident your customers and prospects become. By reminding them of your stability and staying power, they will put more trust in your business.

4.      Create Synergy Among Marketing Mediums

Utilize all of your offline and online marketing tools and create synergy between mediums. Enhance your print with text messaging and use streaming video to create a better user experience online. An integrated marketing approach helps to create an overall communication strategy for your target market.

5.      Maximize Your Print Advertising with Mobile Marketing

This can deliver highly personalized and useful information when and where it’s needed. By including a For Rent Magazine^® text messaging keyword on your print or outdoor advertising, you’re allowing prospective renters to reach you 24/7. According to Mobile Marketing Association, 69% of U.S. mobile subscribers use text messaging, with 44% texting daily or weekly. Mobile marketing is on the rise and consumers are conveniently searching for apartments and jobs via mobile Web sites and PDAs.

6.      Enhance Your Internet Marketing with Streaming Video

ForRent.com’s Community Theater^TM video package is an effective Internet marketing alternative allowing you to cost effectively reach hundreds of thousands of prospective renters with our video syndication network. Streaming video has a proven track record to be a successful brand-building medium that has increasingly effective and measurable results. According to comScore Media Metrix, Americans viewed more than 11.4 billion videos for a total duration of 558 million hours during the month of July 2008. 

7.      Build Closer Relationships

The mantra, “It’s not what you know but who you know,” will become more important in tough economic times. Online social networks allow you to actively engage with consumers and deliver messages that are relevant to their changing needs. According to eMarkerter.com, 44% of U.S. consumers used social networking sites at least once a month in 2008. Customers will be looking for those businesses that are still actively engaging with them.

8.      Integrate Community Theater Videos Into Your Social Media Profiles

Through social media, new relationships can be formed between brands, businesses, and consumers which will outlive the economic downturn. Get involved in communities and social networks where your customers are already engaged. Post your Community Theater videos on your apartment community social media profiles such as MySpace^®, Facebook, Twitter and YouTube^TM.

9.      Leverage E-mail Marketing

E-mail marketing will gain market share because marketers can tie them to sales. Use your ForRent.com Community Theater video and send an ePostcard to prospective renters that filled out a guest card on ForRent.com. ForRent.com’s Community E-mailer also allows you to create and send a personalized brochure via E-mail. The power and reach of email has become a must for businesses. It is easy and provides direct interaction with your customers.

10.  Provide Perks

Providing perks to existing customers is good for brand loyalty and can help you achieve brand differentiation. Providing perks to new customers can also provide a leading edge over your competition when it comes to catching the attention of first time customers.  Some example perks are move-in coupons, waiving application fees, rent specials, movie coupons, gas gift cards and more!