Adding Value at Little Cost
Operating in difficult economic times is… well, difficult. But as some aspects become more challenging, it also opens up different opportunities, as well. The biggest opportunity lies in knowing that other individuals and groups are struggling, as well!
So as we look toward the summer season, does it make the most sense to throw $2,000 at a summer party that often struggles with achieving its goals in the first place? One of the biggest expenses of a big party is that food is expected, so why not instead make a summer series of smaller events and utilize local vendors who are looking to market their services to overcome their own declining sales?
For example, visit a local bank or financial services firm to have them provide a financial planning seminar to your residents. Not only is this a free event that is especially applicable to today’s climate, but the more financially sound your residents are, the less likely you will lose them through skips or them leaving for better deals! And there are many more types of service providers that you can work with:
- Cooking Classes in the clubhouse with a local chef
- Tax Consultants
- Family Planning Counselors
- Personal Safety Seminar through the Police Department
- Fire Safety, and have the Fire Department bring out a Fire Truck for the kids
- Career Planning with a staffing company or headhunter
- Pet Training Session with a pet trainer or pet store, which could be great fun or massive chaos, but either way they will be talking about it!
Not only can you use these businesses as sources of events and information for your residents, but they can also be partners in apartment marketing, as well! For example, work with the pet store to market your community as “pet friendly” to their customers!
These relationships are a free, or nearly free, way to add value to your residents and save a big chunk of change in the process!
This helpful article was contributed by Brent Williams.
Brent Williams is Chief Insider at Multifamily Insiders, the largest online professional networking group for the multifamily industry.
