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Harnessing the Power of AI in Multifamily Marketing

As a seasoned marketing expert with over two decades of experience, Maribeth Ross, the CMO of Perk, has a deep understanding of marketing technologies and their evolution across various industries. Recently, she has focused her expertise on marketing technology for the multifamily industry. In this blog post, I share the insights from my recent podcast episode where I had the pleasure of interviewing Maribeth.

A Unique Blend of B2C and B2B Experience

Maribeth’s unique blend of B2C and B2B experience gives her a distinct advantage in understanding buyers across both industries. She emphasizes the importance of understanding the buyer, a key piece of advice for marketers. Maribeth also expresses her love for technology and how marketing is becoming more technology-driven over time.

When asked to elaborate on the difference between B2B and B2C marketing, Maribeth explains that while there are differences, such as the length and complexity of the buying process, the underlying concepts are similar. People buy from people to solve a pain, regardless of whether it’s a B2B or B2C purchase.

The Greenfield Opportunity in the Multifamily Industry

Maribeth sees the multifamily industry as a greenfield opportunity, with marketing and sales rapidly changing to become more digital and research-based. Renters are conducting extensive online research before engaging with a leasing office, and their journey is becoming longer.

The Role of AI in the Multifamily Industry

Maribeth highlights the importance of the adoption of AI technology in the multifamily industry. Many property management companies (PMCs) are implementing chat capabilities on their websites to provide 24/7 support to consumers. However, she believes that there is much more potential for AI in the industry beyond just chat technology.

AI can automate tasks for on-site teams, such as answering frequently asked questions, following up with leads, and scheduling tours. These tools not only save time for the teams but also enhance the consumer experience by providing personalized information. By leveraging AI, PMCs can drive down costs per lead and per lease, which have been increasing in the industry.

Perk: AI-Based Tools for Engaging Visitors

Maribeth shares insights from her company, Perk, which uses AI-based tools on websites to engage visitors. Instead of static pages, Perk offers interactive quizzes and content that match the interests of consumers. This approach increases the likelihood of consumers touring and leasing properties by at least two times.

Perk’s software can be beneficial in other areas of the multifamily industry. The software offers AI-powered chat technology that can be applied across various channels, including websites, Google Business pages, email, SMS, and even converting phone calls to text exchanges. This ensures a consistent experience for consumers across different channels and helps them understand and trust the brand.

Perk’s Diverse Range of Clients and Implementation Experience

Perk serves a diverse range of clients, including both large and small PMCs at different stages of development. Perk is used by companies building new buildings to manage the rental process, as well as by established companies with high occupancy to streamline their operations.

Marybeth assures that their customer success team makes the process easy and can typically get clients up and running within a month. The cost depends on the number of properties and components used, but she highlights the benefits of using the full platform for a comprehensive solution.

Personal Habits and Final Thoughts

On a personal note, Maribeth shares her favorite daily habit of taking a morning beach walk near her home in southern Maine. She finds it a beautiful way to start her day, listening to the waves and gathering her thoughts.

In conclusion, Maribeth believes that multifamily spaces need to adopt automation to keep up with renter expectations. She encourages property management companies to involve their teams in the process and ensure they understand the technology’s benefits, so they don’t feel replaced but rather see it as a shift in responsibilities.

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