Typically, a new year means a fresh start. However, the boom in the luxury apartment industry over the last seven years is predicted to fizzle in 2017 due to a surplus in supply. Your inclination may be to slash rents and make deep concessions. But doing this may cause brand damage and deter prospective residents. Luckily, this isn’t the first time luxury brands have faced this sort of bump in the road. What we know from the past is that it’s important to keep your marketing program in order to maintain your brand cache and stay ahead of your competitors. But there are ways to streamline it and save you money – with these marketing tips for luxury apartments.

Here Are 4 Ways You Can Keep Your Luxury Apartments Top of Mind in 2017:

1. Use Retargeting to Reach Engaged Prospects – Retargeting is the process of tagging visitors to your website with cookies (not of the chocolate chip variety). After those visitors are tagged, you can then target them with specific ads based on which pages they visited. You might think it’s creepy to follow prospects around online. But these are people who have shown genuine interest in your building. And retargeting is one of the most effective ways to convert website visitors.
2. Send a Postcard – Direct Mail is a method a lot of marketers have shifted away from. But Every Door Direct allows you to target your audience by zip code and mailing route. Which means you can tap directly into what might be your most lucrative market – residents at at your competitors’ buildings. By targeting them, you are planting a seed in their subconscious that will sprout when they’re ready to make a move. Additionally, direct mail can be very cost-efficient, and has a longer shelf life than email.
3. Get Granular with Paid Search – The perpetual rise of Paid Search means competing for key words can get expensive. But for luxury apartments, it’s a tactic that cannot be cut, even when things are slow. You need to get creative to make the most out of your search budget. Segmenting your search data can really point to your strongest areas of interest. You may find that searches from particular geographical locations are converting far better than others have in the past. This is a great opportunity to drive traffic from those areas. In some luxury apartment markets, seasonality may result in different interest from searchers. Check through your historical Search Query reports to find which terms have brought in the most profitable traffic in the past during which times of the year. This could also offer some great chances to fine-tune your keywords and bidding.
4. Outdoor and Streaming Radio – If you have money left in the budget after pursuing the first three tactics, you may want to consider billboards and/or streaming radio. Billboards can be a great way to make your brand visible locally, as people are coming to work, play, and visit your city. Online radio like Pandora or Spotify is also worth looking into because it allows you to target by zip code. Take the geographic information you get from Paid Search, and apply it to your Streaming Radio buy to reach your target in the right places at the right times. Depending on your location, Pandora and iHeartRadio are fairly inexpensive, so you can get great reach for your money.

Don’t let 2017 predictions put you in the position where you cut prices so deeply, you lose your credibility. Make sure your message about what makes you better is attracting the right people through your doors with these four marketing tips for luxury apartments. Then roll out the welcome mat, and watch your occupancy rise.