Daryl Smith, Pinnacle’s National Director of Marketing, recently spoke at the Crittenden Multifamily Conference held in Dallas, Texas on March 17, 2017. Moderated by Esther Bonardi, Vice President of Marketing at Yardi, the three-person panel discussed market data and dynamics in a session titled, “Aligning Operational Strategy with Market Conditions.”
Focused on the Houston and Atlanta marketplaces, Daryl spoke about aligning marketing strategies with Houston’s low rent growth conditions. He also contrasted what is happening in Houston with Atlanta’s high rent growth market.
Daryl mentioned that rapid and ever changing consumer lifestyle needs, coupled with variable economic conditions, have created the demand for finite marketing strategies. He went on to say that static approaches to marketing strategies are obsolete. The creation and execution of finite strategies are built from robust big data. Then he added that it is virtually impossible to maintain a competitive footprint in any market without dynamic business intelligence tools and robust data points.
The panel also discussed:
Up-to-date market intelligence with occupancy, rent growth and new development data shared from metro areas across the country
The top 10 and bottom 10 markets in the nation for rent growth, as well as markets with the highest new development completions
Proven marketing, leasing and retention techniques appropriate for varying market conditions
Other panelists participating alongside Daryl were Dharmendra Sawh, Industry Principal, Revenue Management and Business Intelligence – Yardi Systems, Inc. and Gary Triplett, Director of Operations – Palms Associates, LLC.