Apartment owners continue to be impacted by recessionary factors that have driven up vacancy rates. Tenants are doubling up, renting a single room or moving in with relatives, and occupancies are down.
Outperforming the market, Archstone Apartments has honed in on the importance of brand differentiation and brand equity in a competitive market. Gaining the attention of prospective tenants requires a creative approach. Archstone and Idea Hall teamed up on a campaign to do just that.
"Live.Love.Archstone." is a new leasing campaign that debuted on February 1 to launch a photo contest soliciting images of what people love about where they live. The contest and its theme work in line with Archstone’s efforts to create communities and outreach to prospective residents.
This builds upon a successful series of resident appreciation events and leasing promotions that Archstone implemented throughout its 96 Western region properties in 2009.
Idea Hall developed an integrated plan to promote the photo contest that includes media relations, social media and advertising. The results have been immediate:
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Media Relations: Our SMART News Release™ garnered more than 40 media placements with a total circulation of 22 million, an Ad Equivalency Value of $625,000 and $1.9 million in PR Value.
- Social Media: The agency secured a Citysearch Los Angeles editor to serve as a photo contest judge and developed a mutually beneficial cross-promotional social media strategy to leverage the online city guide’s large audience. Additionally, Idea Hall is advising on Twitter and Facebook outreach to increase the value of Archstone’s own social media efforts.
- Advertising: Idea Hall negotiated an ad buy with 12 radio stations across three markets and drafted a script for a 30-second ad (to broadcast on the radio stations' online streaming "airwaves") during the promotion.
More than 70 photos were entered in the first four days of the contest. All signs point to a successful campaign thus far, and we’re working on new ideas to further boost Archstone’s market presence.