This has been a topic I have been doing some sporadic research on over the past few months. We are all concerned about maximizing our marketing dollars. We are also concerned about our marketing dollars not violating Fair Housing laws in any way. Is there a way for psychographic marketing to assist marketing directors of property management companies and yet hit demographic markets? I believe so.
One brand that I have been following closely is Mazda. When you look at their product line you definitely see different vehicles for different demographics. However do you see demographic advertising? The answer from their principals is essentially no. James Sullivan was quoted as saying, “We’re still the Zoom Zoom company and are not losing our way.”
Zoom Zoom- A psychographic marketing approach that fits all demographics. It appeals to what people want and gives them what they need at the same time. What does a Zoom Zoom Mazda owner want…just a little fun.
Now how does this apply to the apartment industry? From my observations many companies are well on their way. It is well known that you cannot advertise bachelor pads, or 3 bedroom family homes or any other demographic specific type marketing in fear of Fair Housing violations. So what needs to be done? Appeal to what every person wants? Instead of being concerned about need specific marketing, you market in a way that appeals to what people want.
You market in a way that creates an experience and fulfills human desires. Generational marketing is another whole subject but I really wonder if it becomes much of a necessity from purely a dollar standpoint if your overall marketing approach appeals to the masses. I will leave that statement open for debate.
This is really just an introductory post on my part to open some dialog. By continuing to learn from brands outside the apartment industry it will continue to help the multifamily industry grow and prosper. As always, I value my readers amazing opinions and I look forward to your thoughts on this topic.
Written by Jonathan Saar
Image credits to www.mazdaspeeddevelopment.com