November 2, 2024

Marketing Centralization: Achieving 40% Cost Reduction Without Losing Impact

Eden Chai

In multifamily real estate, centralization talk often centers on leasing, but marketing centralization may offer even greater returns.

Beyond streamlining ad budgets and reducing internal competition, it shapes a cohesive brand experience for prospective residents.

Companies that take this approach can reduce costs by up to 40%!

In this episode of Building Blocks, host Eden Chai interviews Mike Whaling, founder of 30 Lines, on the practical power of centralized marketing.

We’re breaking down their insights, outlining a clear roadmap for multifamily companies looking to amplify impact without compromising quality.

For the full discussion, you can listen to the entire podcast episode here.

Why Marketing Centralization is a Lower Hanging Fruit

Unlike leasing centralization, which requires significant operational change, centralizing marketing offers high-impact results with less complexity.

Here’s how this approach helps PMCs modernize their marketing while capturing greater efficiency.

Efficiency in Action

Imagine cutting your marketing costs by nearly half simply by removing internal competition.

A client of 30 Lines did just that, reducing their ad spend by 40% through a centralized strategy.

As Mike explains, “they were competing against themselves and driving prices up” by bidding on the same keywords across communities.

Through coordinated efforts, they avoided these overlaps, making every marketing dollar count.

Enhancing the Renter Experience

“Very rarely do [renters] start with an individual community in mind,” Mike notes.

For potential residents, they often start with a neighborhood or lifestyle in mind.

Centralized marketing aligns with this journey, allowing residents to browse multiple options under one brand.

By presenting a selection that feels curated, centralization makes it easier for residents to find a place that feels like home—without toggling through disjointed listings.

Common Concerns and Challenges in Centralizing Marketing

Despite its advantages, centralizing marketing isn’t without hurdles.

From operational constraints to technology gaps, these challenges can make some PMCs hesitant to adopt a unified strategy.

Operational Resistance

Centralizing marketing efforts can be met with resistance due to the decentralized nature of multifamily operations.

Historically, property management and leasing functions are structured independently at each site, making unified efforts feel like a significant shift.

As Mike explained, moving to a centralized model requires rethinking roles and workflows, which not all teams are ready to take on.

Software Gaps

Many property management CRMs are designed to handle leads for a single community rather than across multiple locations.

According to Mike, “every CRM system in our industry is built for…a lead [attached to] a property,” which complicates attempts to centralize.

Without systems that can manage leads across communities, marketing teams face additional hurdles when trying to adopt a more unified approach.

Asset-Centric Marketing

Owners often see each community as an individual asset with unique branding and performance goals, which can make centralizing budgets and marketing strategies challenging.

In many cases, Mike has observed, this approach “is completely opposite from how people shop.”

While asset-focused marketing caters to individual investors, it misses the efficiency and reach that a broader brand strategy could achieve.

Managing Pooled Budgets

Pooling marketing budgets across communities can raise concerns, especially for owners who want to see their investment directly benefit their specific asset.

As Mike pointed out, some owners fear that centralization could divert funds away from their community’s immediate needs.

To address this, he suggests showcasing how shared efforts can actually reduce each community’s required budget while delivering greater overall impact.

Tracking ROI

Demonstrating ROI on pooled marketing spend is a top priority for many PMCs.

Owners want assurances that their contribution to a shared budget will yield tangible results for their community.

With clear reporting, marketing teams can show how centralized strategies drive traffic and leads, helping assure owners that their dollars are well spent.

Steps to Start Centralizing Marketing

To get started with marketing centralization, focus on a few key areas that can deliver immediate impact:

👉Leverage Corporate Websites: Use corporate sites to capture top-of-funnel leads with location-based content, showcasing multiple communities under one brand.

👉Email Marketing for Lead Nurturing: Nurture leads across communities with pooled email lists, providing residents with cross-community options.

👉Optimize PPC Campaigns: Consolidate PPC efforts to avoid internal competition on keywords, maximizing budget efficiency.

Future-Proofing Your Centralization Strategy with AI

AI is transforming how people search for apartments.

By focusing on AI-driven strategies, companies can make their centralized marketing even more effective.

Creating high-quality, informative content on corporate sites boosts the chances of appearing in AI-generated search results, where trusted, comprehensive answers are prioritized.

AI tools also allow marketing teams to analyze user behavior in real-time.

This helps them adjust campaigns quickly and cater to renter preferences.

As search technology advances, integrating AI will keep centralized marketing efficient, visible, and relevant.

As the rental landscape becomes more competitive, centralizing marketing is a powerful way to stay adaptable and impactful.

It goes beyond cost-cutting; it aligns with how renters actually search and engage.

By investing in a unified approach and preparing for AI’s growing influence, PMCs can meet today’s demands while building resilience for the future.

What was your biggest takeaway from this article? Let us know by leaving a comment below!