Alliance Residential Co<\/a>. and her team completed an in-depth demographic analysis that revealed not just facts, but helpful nuance, about the country\u2019s newest powerful renting and spending cohort.<\/p>\nWith a nationwide portfolio that touches 24 major metro markets, Vance knows that going beyond the surface to understand Millennials, who seem to appear in every other news story on demographics these days.<\/p>\n
While there is some definitional discrepancy about the exact range of the Millennials\u2019 birth years, they are essentially in their early 20s to mid-30s today. Many moved back in with their parents during or after college due to a tough job market, but as the economy has improved, they are expected to account for formation of up to 3 million new households.<\/p>\n
They\u2019re an important new consumer base for apartment owners and managers, and some of their unique behavior patterns\u2014including reliance on technology and social media to accomplish almost any task\u2014have made them the subject of focused marketing studies like Vance\u2019s.<\/p>\n
\u201cI do believe our industry needs to do its homework to truly understand this complex demographic.\u00a0We need to shift marketing and communication habits significantly in order to effectively market to and resonate with this highly media-savvy generation,\u201d Vance said.<\/p>\n
MHN: Could you define: experiential marketing, social responsibility and incentive to share as they are relevant to the multifamily leasing and living experience?<\/b><\/p>\n
Vance:<\/b> Experiential marketing goes beyond a basic tagline, brand or event. The effort is comprehensive and engages the prospect in a way that allows them to participate with the brand.\u00a0Because this demographic is skeptical of traditional advertising channels, experiential marketing is an excellent way to\u00a0create conversation and develop rapport through non-traditional marketing methods.<\/p>\n
Social responsibility simply refers to Gen Y\u2019s drive to give back and positively impact their communities.\u00a0This demo sees value in brands that also support this concept. In our industry, there are a number of ways to demonstrate how we are socially responsible\u2014for example, a community may decide to plant a tree for every electronic application that is received.<\/p>\n
Incentive to share is pretty much just as it sounds\u2014providing a reason for residents and prospects to want to tell others out our brand and share our marketing message\/their experience with it.<\/p>\n
MHN: How is Alliance using this insight to develop its marketing plans?<\/b><\/p>\n
Vance:<\/b> We begin every campaign, promotion, brand, etc., by digging into the demographic; not only age and income, but really diving into consumer habits, trends, likes, dislikes and more. From there, our goal is to shape the marketing message, media channels and overall tactics in a way that will inspire our target audience to take action (call, visit and ultimately lease with us).<\/p>\n
This group\u2019s demand for personalization and immediate interaction does create a challenge our industry hasn\u2019t tackled to this degree before.<\/p>\n
As an example, Gen Y highly values experiences (and they want to tell everyone about it!).\u00a0For a new lease-up, I\u2019d look at tactics that allow the prospect to participate in the building process and provide them with unique experiences they will want to share, then craft our messaging around this concept.<\/p>\n
Hyper-local tactics are also extremely effective with this group.\u00a0Consider ways you can partner with local businesses to even further connect with the neighborhood, to include a highly targeted marketing message, event and\/or social campaign\u2014this heightens and expands the sense of community and belonging, which is key.<\/p>\n
This interview was conducted for Multi-Housing News online. Find the full transcript there<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Alexis Vance wants to get inside the minds of the Millennials. So the vice president of marketing for Yardi client Alliance Residential Co. and her team completed an in-depth demographic analysis that revealed not just facts, but helpful nuance, about the country\u2019s newest powerful renting and spending cohort. With a nationwide portfolio that touches 24 […]<\/p>\n","protected":false},"author":413,"featured_media":8759,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,3354],"tags":[62,589,116],"class_list":["post-8755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-people","category-team-yardi","tag-marketing","tag-multi-family","tag-yardi-client-profile"],"acf":[],"yoast_head":"\n
Yardi Blog<\/title>\n<meta name=\"description\" content=\"Alexis Vance wants to get inside the minds of the Millennials. So the vice president of marketing for Yardi client Alliance Residential Co. and her team\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alexis Vance\" \/>\n<meta property=\"og:description\" content=\"Alexis Vance wants to get inside the minds of the Millennials. So the vice president of marketing for Yardi client Alliance Residential Co. and her team\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/alexis-vance\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2013-11-11T13:00:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-03T23:42:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2013\/11\/Alexis-Vance.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"434\" \/>\n\t<meta property=\"og:image:height\" content=\"650\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Leah Etling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Leah Etling\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/alexis-vance\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/alexis-vance\/\",\"name\":\"Alexis Vance - Yardi Corporate Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/alexis-vance\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/alexis-vance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2013\/11\/Alexis-Vance.jpg\",\"datePublished\":\"2013-11-11T13:00:58+00:00\",\"dateModified\":\"2021-02-03T23:42:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/81b16a7aea318dbdaaa0a17b776a0c52\"},\"description\":\"Alexis Vance wants to get inside the minds of the Millennials. So the vice president of marketing for Yardi client Alliance Residential Co. and her team\",\"breadcrumb\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/alexis-vance\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.yardi.com\/blog\/alexis-vance\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.yardi.com\/blog\/alexis-vance\/#primaryimage\",\"url\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2013\/11\/Alexis-Vance.jpg\",\"contentUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2013\/11\/Alexis-Vance.jpg\",\"width\":434,\"height\":650},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.yardi.com\/blog\/alexis-vance\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.yardi.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Alexis Vance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#website\",\"url\":\"https:\/\/www.yardi.com\/blog\/\",\"name\":\"Yardi Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.yardi.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/81b16a7aea318dbdaaa0a17b776a0c52\",\"name\":\"Leah Etling\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9fa1e69f4f920593cfa724d25dc7da5cb96fac8a5a1a39b01b0d456d468ed3af?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9fa1e69f4f920593cfa724d25dc7da5cb96fac8a5a1a39b01b0d456d468ed3af?s=96&d=mm&r=g\",\"caption\":\"Leah Etling\"},\"description\":\"Leah Etling is the founding editor of the Balance Sheet and a 12-year Yardi employee who also oversees press releases and social media. An award winning journalist, she holds a master's degree from UC Berkeley and is a native of Santa Barbara County, Yardi's home.\",\"url\":\"https:\/\/www.yardi.com\/blog\/author\/leah-etling\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Yardi Blog","description":"Alexis Vance wants to get inside the minds of the Millennials. So the vice president of marketing for Yardi client Alliance Residential Co. and her team","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Alexis Vance","og_description":"Alexis Vance wants to get inside the minds of the Millennials. So the vice president of marketing for Yardi client Alliance Residential Co. and her team","og_url":"https:\/\/www.yardi.com\/blog\/alexis-vance\/","og_site_name":"Yardi Blog","article_published_time":"2013-11-11T13:00:58+00:00","article_modified_time":"2021-02-03T23:42:06+00:00","og_image":[{"width":434,"height":650,"url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2013\/11\/Alexis-Vance.jpg","type":"image\/jpeg"}],"author":"Leah Etling","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Leah Etling","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.yardi.com\/blog\/alexis-vance\/","url":"https:\/\/www.yardi.com\/blog\/alexis-vance\/","name":"Alexis Vance - Yardi Corporate Blog","isPartOf":{"@id":"https:\/\/www.yardi.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardi.com\/blog\/alexis-vance\/#primaryimage"},"image":{"@id":"https:\/\/www.yardi.com\/blog\/alexis-vance\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2013\/11\/Alexis-Vance.jpg","datePublished":"2013-11-11T13:00:58+00:00","dateModified":"2021-02-03T23:42:06+00:00","author":{"@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/81b16a7aea318dbdaaa0a17b776a0c52"},"description":"Alexis Vance wants to get inside the minds of the Millennials. So the vice president of marketing for Yardi client Alliance Residential Co. and her team","breadcrumb":{"@id":"https:\/\/www.yardi.com\/blog\/alexis-vance\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardi.com\/blog\/alexis-vance\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardi.com\/blog\/alexis-vance\/#primaryimage","url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2013\/11\/Alexis-Vance.jpg","contentUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2013\/11\/Alexis-Vance.jpg","width":434,"height":650},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardi.com\/blog\/alexis-vance\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardi.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Alexis Vance"}]},{"@type":"WebSite","@id":"https:\/\/www.yardi.com\/blog\/#website","url":"https:\/\/www.yardi.com\/blog\/","name":"Yardi Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardi.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/81b16a7aea318dbdaaa0a17b776a0c52","name":"Leah Etling","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9fa1e69f4f920593cfa724d25dc7da5cb96fac8a5a1a39b01b0d456d468ed3af?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9fa1e69f4f920593cfa724d25dc7da5cb96fac8a5a1a39b01b0d456d468ed3af?s=96&d=mm&r=g","caption":"Leah Etling"},"description":"Leah Etling is the founding editor of the Balance Sheet and a 12-year Yardi employee who also oversees press releases and social media. An award winning journalist, she holds a master's degree from UC Berkeley and is a native of Santa Barbara County, Yardi's home.","url":"https:\/\/www.yardi.com\/blog\/author\/leah-etling\/"}]}},"jetpack_featured_media_url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2013\/11\/Alexis-Vance.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/8755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/users\/413"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/comments?post=8755"}],"version-history":[{"count":8,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/8755\/revisions"}],"predecessor-version":[{"id":27162,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/8755\/revisions\/27162"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/media\/8759"}],"wp:attachment":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/media?parent=8755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/categories?post=8755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/tags?post=8755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"Alexis](\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2013\/11\/Alexis-Vance.jpg\")
nials.<\/p>\n