Adding Action to the Product, Price, People, Promotion Analysis

Product, Price, People and Promotion are the core components to most marketing plans.

Monthly, quarterly, weekly, or at least annually; organizations expect an update of the property marketing plan.

Dutifully, plans are submitted to the appropriate source for review.  Task complete…Thirty, sixty, ninety days later, update plan.

Task complete, check the item off the TO DO list.  The value of the plan is lost without scheduling tasks to create actions.

How is the plan integrated in to the property operations?  Without specific action items, the plan is a report providing little value.  A thorough marketing plan has taken a considerable amount of time to prepare.  But without implementing the action items there will be no results.

We’re too busy!”

The marketing plan has potential answers to any occupancy or renewal challenge.  Using the marketing plan hand in hand with the weekly or monthly community calendar can provide amazing results. As well as structure for the marketing functions of the property.

Schedule The Market Plan

Outreach goes on the calendar.  Adjusting a schedule or trying to  fit it in at the end of the day, will ultimately result in no outreach.   Outreach Relationships bring results, but handing someone a flyer every month or two doesn’t create a relationship.

Updating ads with ISP providers, Craigs List, Facebook Marketplace and the management company web page can spread the word about a current promotion.  We need to review all of our advertising regularly.

Include Community Events in the Marketing Plan

imagePlanning for community events can generate local media attention (Free Advertising!) and resident retention.  But if everyone is too busy to look at the calendar, throwing together a Mother’s Day event the Friday before Mothers Day has little chance of  generating results.

Look at a calendar for the upcoming four to six weeks, identify focus points for outreach events and resident appreciation moments.

Celebrate the day Tootsie Rolls were introduced (Feb 23,1896) by handing them out to everyone that comes to the office, attaching them to maintenance notices.

National Sunglasses Day is June  27.  There are lots of fun ideas for themes.

Planning is essential.

Marketing by numbersTaking the time at the beginning of the week or month to add marketing activities to team responsibilities will reinforce the importance of marketing.

Effective marketing is not an afterthought. It is organized and planned based on the future needs of the apartment community.

Evaluating potential move out exposure based on lease renewals, and actual move out notices will identify the timing to increase advertising, in advance of apartment vacancy.

An outline of businesses for outreach will provide structure for this task, and insure follow up visits are scheduled.

The marketing plan is the road map tracking the variety of advertising efforts. Realizing an internet ad was not updated or the newspaper deadline was missed will affect the number of calls or inquiries, delaying the hoped for increase in occupancy.

As the marketing plan is updated for the next submission, add dates and items to the calendar. Keep a copy with the team schedule for the week.

Its a valuable resource, put it to work!

Lori Hammond
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2 thoughts on “Adding Action to the Product, Price, People, Promotion Analysis

  1. Love this article Lori! Especially love the thought of planning resident events well in advance to make them successful. – How did you know when Tootsie Rolls were introduced – giggle.