EP121: Ope! A Guide to Multifamily Marketing in Minnesota

September 29, 2022

Welcome back to the Digible Dudes podcast. In this week’s episode, we dive into ‘A Guide to Multifamily Marketing in Minnesota’ with; Kayde Pierce, Senior Account Manager, and Amelia Anvary, Senior Paid Media Strategist at Digible. Throughout the episode, we discuss the background of multifamily in Minneapolis, neighborhood differences, lead to lease projects, living and budgeting in Minneapolis, impression share, studio apartments, concessions, and more.

Starting the conversation, Kayde talks about the background of the multifamily market in Minneapolis and what kind of relationships they have with the clients. The neighborhoods of Minneapolis have different qualities from one another says Kayde; Northeast Minneapolis and North Loop with more creative professionals.

Having an affordable place on their own is a dream of most young people who got just out of school. According to Kayde and Amelia, it increases the studio cost which is a lot more than floorplan types. In the next phase, Amelia dives into some of the learnings she collected in the Minneapolis market; quality in the details of floor plan cost, allocating budget, general apartment searches, using social media platforms for certain ads, assigning the right person to look at the apartment space and tell the customers what can they do with the space and more.

Everybody wants to feel safe when they are at home. That’s what a home is for; feeling safe is the simplest definition of the term ‘home’. Both Amelia and Kayde share what facilities they built in the neighborhoods to make people feel safe. Private parking, secure entry, language use in ad copy, and monitoring social comments are some of the strategies that they use to make people safe and make them believe that Minneapolis is still a great neighborhood. Wrapping up the conversation, Kayde talks about inventions that come out from the state of Minneapolis and how they made them fall in love with the place in the first place.

[06.16] Background – Kayde dives into the background of the multifamily market in Minneapolis.

[08.35] Different neighborhoods – Kayde dives into unique characteristics which differ from neighborhood to neighborhood in Minneapolis.

[11.39] The project – Kayde dives into the project; leads to lease, that they have been working on in combination with the client service side with the data team, and what key points they looked into in the project.

[17.12] Takeaways - Moving to quarter two is peak season because everybody is moving and August, September, and October as the lowest months which have user interests as the key takeaways from the project; lead to lease.

[20.58] Living and budgeting in Minneapolis – Both Amelia and Kayde share the details of how the processes of leasing renewal and researching apartments are happening in Minneapolis.

[24.46] Impression share – Amelia dives into how impression share works and the necessity of maxing impression share.

[29.18] Studio cost – High demand among young people and the lack of studio apartments as the causes which drive studio apartments into a bigger cost.

[33.10] Learnings – Amelia dives into some of the learnings that she gathered from the multifamily market in Minneapolis.

[35.34] Safe experience – Both Kayde and Amelia dives into the details of what they did to make people feel safe in their neighborhoods.

[40.09] Concessions – Amelia dives into how concessions are happening in Minneapolis in times when it’s hard for people to move.

Resources

https://www.linkedin.com/in/kaydepierce/

https://www.linkedin.com/in/ameliaanvary/

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