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by Marvin Levin
You will probably agree with me that it is inspiring when an academic idea can be put to work. One of my favorite academics is David Ogilvie, who founded what was generally conceded to be the best advertising firm in the world, Ogilvie and Mather.
David Ogilvie had a basic idea that he incorporated into his advertising career. His observation was that a typical person is exposed to over 30,000 images every day and, therefore, it would be very difficult to grab one’s attention. He believed it was the job of advertising professionals to create an image that was so unusual and spectacular that it would remain in your memory. For example, he created the advertisement showing the man with the black patch over his eye, and the catch phrase was “Man in the Van Heusen shirt.”
My advertising professor was a great fan of David Ogilvie, and it wasn’t hard for me to to become one also. So, when I got into the income property business, I paraphrased to my colleagues the David Ogilvie expression in the following way: In order to see a snowflake in a blizzard, you have to create a purple snowflake.
To illustrate the point in the case of apartment marketing, you have probably had my experience of looking at a dozen apartments in the course of a day. At the end of the day, you will not necessarily remember the one that you liked, unless it had a “purple snowflake.” So, I thought I would mention just a few “purple snowflakes” that might be used in connection with renting apartments. I am particularly fond of these because it costs little or no money to implement the ideas. Examples are as follows:
- A stack of cardboard bowls is placed by the water fountain in the rental office with a sign that reads: “You don’t have to let the pet in your car become thirsty. Please take a bowl of water.” (In addition to the obvious PR, it allows the prospect to spend a little more time viewing the property.)
- A sign in the recreation room proclaims: “Please be careful with the toys. If you break one, don’t worry, we were kids once ourselves.” (I have witnessed a young mother turn to the rental agent after reading that sign and say: “I want to live here.”
- Every person in the rental office and on the maintenance staff has a nametag that indicates their place of origin. (It provoked the most interesting conversations.)
- A removable brass plaque at the rental office door proclaims: “This community managed by John and Mary Jones.”
- In the rental office there are photographs of several couples in bridal gown and tuxedos above a sign that proclaims: “Met and married at Acme Terrace Apartments.”
- A 5-disk CD player is in the rental office. One disk is Chinese opera, a second is rock, a third is classical, a fourth is Italian opera, and a fifth is another choice. As a prospect approaches the rental office, the manager selects the disk that best seems to fit the prospect. (We call this selective mood music.)
- The building has uncomfortable vacancy. Instead of offering a month’s free rent as a concession, the building offers to move the prospect, who is local, at the building’s expense and to provide a “slave” for the day to help the prospect move. It might cost considerably less than one month’s free rent, but the idea has a “purple snowflake” effect.
- The building has a small amount of vacant land. The land is divided into a large number of small plots where residents can plant vegetables. The land is irrigated and fertilized to produce outstanding results.
The above ideas are set forth to demonstrate the David Ogilvie principle and, of course, must be carefully applied in each individual case.
Some people think that apartment values have obtained a “bubble-like” price level, and that may or may not be the case. However, if you run into an apartment building with substantial vacancy, we would love the challenge. Please contact me.
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