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Sign into your account7 Social Marketing Tips to Connect with Millennial Renters
April 20 2015
There are 77 million 18-36 year olds that make up the millennial generation, and they are reshaping the way real estate professionals should be marketing their business. The lifestyles of Generation Y'ers are flexible and they aren't settling down as quickly generations before them, which is why rental properties have become a more attractive option than buying a home. In fact, there was an increase of almost 4 million single-family rentals between 2005 and 2012 (Forbes) and the single-family rental market now accounts for fifty-two percent of the entire residential market (CoreLogic).
Rentals are on the rise and this group of young adults has been the driving force behind it, so it's important to market your business where it counts. The average millennial is active on 3.5 social media sites, and with 93 percent of them owning smartphones, they are spending a lot of time (3.2 hours a day to be exact) scrolling through their newsfeeds. This offers you the perfect opportunity to get your foot in the door with these soon-to-be buyers, by connecting with them through social media and helping them find a rental.
Here are 7 things you need to know if you want to connect with Gen millennials through social media.
1. Stay Active on the Networks that Count
Homes.com and ForRent.com conducted a survey to find the most popular social media sites among renters. Facebook was the most popular, with 80 percent of respondents saying it was their favorite. This was followed up by Twitter, Pinterest and Instagram who captured 44 percent, while Google+ was preferred by 31 percent. Keep this in mind when you are creating your social media strategy, as you'll want to focus your attention on the sites they use the most.