Personalization of Student Housing
Marketing housing to students in a way that can drive solid ROI isn’t easy. It requires more than just being within the relevant viscidity of a campus. Your properties must reflect the needs of the students that you are looking to fill them with.
Successful landlords of student housing would likely make excellent parents such is their experience with navigating the behaviors and the needs and wishes of young men and women that we know as collegians.
Considering that men and women between the ages of 18 and 24 make up for about 10% of the population, to understand everyone within the country based purely on an age filtration process doesn’t streamline your audience too much. You’re still left with a broad subset of characteristics based on their reason for studying what the are, their ethnic or cultural background, general upbringing, financial standing and interests and hobbies.
But no matter their specific personal traits, most students today desire at least three things: budget-sensitive incentives, their choice of floor plans, and, without a doubt, unlimited technological support.
One size doesn’t fit all
Student housing owners are for the first time embracing a strategy that more traditional hospitality companies have been successfully implementing for a long time: operating multiple properties offering in a single neighborhood each tailored to the needs of students and in so doing appealing to more customers.
Likewise, in the student housing industry, a number of owners are building portfolios that will appeal to a wide range of residents. They’re differentiating properties by design and lease rates, as well as academic class.
Like all of the hospitality companies that came before them, student housing landlords have had to acknowledge that not all their customers are looking for the same thing. Their residents certainly have one thing in common, however—they’re all students. But beyond that, each one has different priorities and expectations. Being relevant to them on a personalized note is the key to success.
Those priorities and expectations could be as simple as having a private bathroom or a r swimming pool. Student housing owners that operate a property without such features may have trouble attracting residents who want them.
It is for those reasons that it’s of the highest importance to have multiple considerations within your property portfolio to feel comfortable that you are able to meet students’ needs.To offer value to their customers and to make profits as a consequence. For some industries with education being a perfect example, it is increasingly difficult for businesses to find a way to market themselves as innovative. If you were to ask an seo agency in new york they would tell you the key is in being relevant and finding a way to understand the intent of a searcher much like you will need to be relevant in your houses offering by understanding the intent of a student who may choose to live in your apartment. Proximity to campus, wifi, large washer and dryers, enough bedrooms to allow for larger groups of fraternity members to consider living together. Perhaps a games room with fuzzball or ping pong to entice the more light hearted or playful collegians who are looking for entertainment as a means to differentiate.