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Psychographics: A Necessary Tool to Attract and Retain Residents
Much has been written about apartment “amenity wars,” as owners and managers focus on adding fitness centers, pools, dog parks/pet spas and package lockers to their residential offerings. However, some owners and managers are focusing less on amenities, and more on experiences. Some, for example, are encouraging on-site farmers’ markets and food trucks.
But, psychographics are necessary to ensure the right experiences. Alexandra S. Jackiw, with Milhaus Management, recently gave a presentation at the National Apartment Association’s Apartmentalize, and indicated that psychographics can help determine what, exactly, residents are looking for in an apartment community. This is because psychographic goes beyond demographics, to provide insight into why people make the buying decisions they do which, in turn, provides information on values and behaviors.
Jackiw suggested that operators can use a variety of methods to collect psychographic data, including in-person and phone interviews, customer surveys and questionnaires. Once operators have quality psychographic data, they can use that information to create more refined social media audiences, write emotionally compelling ads and effectively rely on aspirational imagery and messaging.
“Experiences have become a huge component of what we do,” Jackiw said. “But how do we know what experiences to provide? . . . That’s where psychographics come in. Psychographics can put you ahead of the competition.”
For comments, questions or concerns, please contact Amy Sorter
