Consumer Behavior Insights & Understanding Your Future Tenants
Understanding consumer insight has become essential to ensure apartment marketing strategy generates leads, holds its resident retention rate, and achieves stabilization as soon as possible. Understanding consumers can improve the property’s roadmap in the customer journey, allowing you to market appropriately to the target audience.
Our consumer insight report is a fully comprehensive package that provides developers and investors with an analysis of the key consumer behavior profiles and macro-trends influencing the market. It tells you who the consumer is, what they want, and how to position your apartment branding and marketing strategy. Knowing your target demographic and their underlying feelings will give you a better understanding of their decision-making process when choosing a new apartment.
Amenities are not just a checklist. They tell a story about the values your community represents. Learn about the key principles and insights that positively impact your lease-up. Download our free consumer insights examples.
Amenity Innovation for a Healthy Future:
The impact of COVID-19
Consumer shopping behavior
Healthy habits and protocols for amenities
Consumer Marketing Insights: Data Mining
Data mining delivers an overview of the market and consumer behavior. By gathering and analyzing large amounts of information from the U.S. Census, housing tract information, city databases, and other analytical sources, we can provide consumer marketing insights with detailed numerical data on subjects such as average household income, year over year economic growth in the area, the average salary by industry, drive times, and age by housing type.
Consumer Behavior Profiles
Understanding the consumer profiles you are building for is critical to a consumer-first approach. Behavior insights illustrate potential residents that include demographic, geographic, behavioral, and psychographic characteristics. This information supplies the developer with the “WHO” and “WHY” – who their prospective residents are and why they are an essential group to focus marketing efforts. These behavior profiles can also be used to drive amenity programming, unit mixes, interior and exterior finishes, and more.
Observations & Consumer Behavior Trends
Observations and consumer trends provide empirical data in the consumer marketing insights report. Our team goes into “the field” and investigates the surrounding competitive set, retail offerings, and general environment of the neighborhood. From observing the number of dog walkers to discovering local businesses, we uncover what is essential to residents in the community. Consumer behavior insights help developers determine which ideas and trends to keep and which ones to avoid to differentiate our building from the rest of the market.
We also outline relevant consumer behavior trends, significant shifts involving large populations occurring within the next three to five years. These shifts can include the aging of a generation, social media trends, consumer sentiment evolving around a particular product category or service, changes in consumer mindset, and technological advancements.
Consumer Marketing Insights
A market study is the analysis of competitors in the market based on consumer behavior insights proximity, class type, average rents, and amenity offerings. Analyzing the competitive set will allow you to differentiate yourself from the surrounding market while revealing valuable insight into consumers’ needs and wants. Being knowledgeable about your competitors can also give you an advantage during lease-up, where you can use this data as talking points on tours or drive concessions. Check out how creating a consumer insight reflects in Uncomn Projects the overall campaign for Upper Ivy, Baker Block, and the Fitz on Fairfax.
Consumer Market Insights: Color Forecasting
Color forecasting is the process of predicting what colors will be most desirable and on-trend when your development delivers. We provide your team with this insight to help determine what colors will work best for your brand and interiors while simultaneously being attractive to your target demographic.
Consumer Market Design Trends
Design trends provide insight that helps the interior design team decide what shapes, fabrics, patterns, and design styles to implement in your interiors. Our research becomes a valuable source when making interior design selections from textures and materials in the lobby to the model unit furniture.
Apartment Branding & Consumer Marketing Strategy
Apartment branding direction & creating a consumer market strategy are the conclusions drawn from the research and work completed in the previous six categories. We develop recommendations for your brand from these points that include brand personality, essence, and positioning. The action points can be used to influence many areas of the development and lease-up process. They can be circulated among your architects, interior designers, and vendors to help guide their ideas and maintain one cohesive brand. Together, the apartment branding direction and action points create an all-encompassing platform on which to build your property’s brand identity and apartment marketing strategy.