It's no secret that CARROLL will take insight and inspiration from anywhere if we believe that it can be used to drive results across our portfolio. We have seen across industries that the power of carefully-crafted brands is only growing, especially among Millennials. In fact, a writer for Entrepreneur.com argues that "your brand won’t just be central to your product; it will actually be more important than the product itself."
When we looked across our portfolio, and the portfolios of some of our closest competitors, what we saw was a fragmented brand ecosystem that lacked a cohesive story on which to build the types of brands that are resonating with today's consumer. Our own research showed that in multifamily, consumers are searching much less for management company names and significantly more for the brands that they build. That is, those PMCs that are investing in brand building are seeing that paid off in free search volume - which results in faster time to market at acquisition, higher retention, and more and cheaper leads. Additionally, we found that in markets where there was an existing ARIUM footprint (particularly, Florida and Georgia), ARIUM was outperforming every one of our competitors in awareness. Clearly, the brand was resonating with consumers.
We redesigned the ARIUM logo, not just to modernize its look, but to signify a change. Carroll doubled down on ARIUM by beginning the process of building a consumer brand on a promise: to remove the barriers renters face in apartment living so that they are freed to focus on the things that matter most to them. ARIUM is not a product; it is a promise.
By simply beginning the rebranding process and consolidating our portfolio on to a single ARIUMliving.com domain, we've seen 43% improvement in domain authority, which means more traffic and more leads coming from a free, non-ILS sources. In just a few months, we've already seen what capitalizing on a consumer brand can mean for our properties. And as we continue to define the brand and build awareness of what it means, we will see these initial results scale.