By Meghan Hall
The world of commercial real estate has long operated through interpersonal relationships, with property transactions often occurring through off-market channels or by word of mouth. Brokerage firms will distribute pamphlets and marketing brochures to spread the word, but a new SaaS platform called Remarkably is hitting the market to help both property owners and brokerage professionals improve multifamily asset performance through its marketing analytics software. The Registry caught up with Remarkably’s co-founder, Erina Malarkey, about Remarkably’s launch and where the platform is headed.
Tell me a little bit about Remarkably and its services. What prompted you to create a marketing platform that catered specifically to real estate? How is it different from other websites or platforms that seek to accomplish something similar?
Remarkably is a multifamily real estate marketing data, analytics and insights company, powered by a proprietary SaaS platform. We are passionate about helping the nation’s top property owners, investors, developers and managers reach their leasing, occupancy and revenue goals for ground-up developments and existing assets while driving significant, measurable and market-beating performance and value.
Real estate is the largest asset class in the world, yet relies on surprisingly unsophisticated and undervalued marketing analytics compared to other verticals. Remarkably is co-founded by —and for — multifamily real estate marketing professionals who are looking to fundamentally change the role that marketing serves in real estate.
There are other platforms available to help real estate marketers, but many of them offer a limited view into incomplete data tied to their own proprietary tools and are mostly focused on lagging indicators. Remarkably is unique in that it offers broad, full-funnel marketing analytics and predictive modeling that significantly improves asset performance and maximizes ROI.
Why do you think, historically, the marketing component of the real estate industry has lagged behind? What tools exist now for marketing in the real estate industry, and how does Remarkably work to update and modernize them?
It used to be that real estate didn’t really have marketing data. Now, people have data, but they’re drowning in it. Between fragmented platforms, siloed functionality and information, and data without insights, the industry has lacked a strategic, coherent, actionable and measurable view of marketing performance. We aim to consolidate critical data and provide insights and recommendations to achieve and maintain success: optimal campaign performance, leasing revenue and return on marketing investment.
Remarkably delivers on every layer of the data pyramid to produce a powerful solution that has not historically existed.
First, we take the data that people are drowning in and convert it into an executive-level, actionable dashboard that provides powerful visualization. From that visualization, we develop useful insights into the age-old question of “What the heck am I actually getting from my marketing spend? What’s working? What’s not? What should I do more or less of?”
From insights, we generate recommended actions. We answer every client’s burning question, “Yes, yes, but what should I do?”
Based on recommended actions, we then produce measured results, so we can actually understand the outcome of the actions taken and then further optimize to constantly improve performance.
How did your prior experience at VMO in Seattle impact and affect how you approach marketing in today’s real estate world? How did it help you to create Remarkably?
Remarkably is the direct result of what the nation’s top owners, investors, developers and managers have been asking us for for years via VMO. Through VMO, we were able to see first-hand what could happen if you converted marketing from being seen as, and acting as, the “pretty picture department”, to serving as an effective, efficient and measurable lever in an asset strategy. The opportunity to take our deep domain expertise of branding, marketing, and real estate, plus a proven market need and develop a powerful software solution, is a very exciting one.
Remarkably is the first all-women-led company to come from Pioneer Square Labs; why is this an important achievement in not just the commercial real estate industry, but the tech industry?
My co-founder, Anna-Lea Dieringer and I have always been passionate about women in business, women’s presence in male-dominated industries and women supporting other women in business. To have the honor of being Pioneer Square Labs’ first all-women led company is something we are both very proud of and take very seriously. There is a staggeringly small number of women in PropTech and we aim to change that.
In your experience, what branding and marketing strategies are most effective when it comes the real estate industry, and how does Remarkably enhance or build upon those strategies so that clients get the most bang for their buck?
Each asset is unique, and each campaign is unique — including its strengths, weaknesses, opportunities and threats. So many branding and marketing solutions in real estate have been deployed as one-size-fits-all or “spray and pray” approaches, where marketers throw a bunch of things at a wall and hope it sticks. We believe owners, asset managers and property managers must first deeply understand who their best potential and existing residents are and what they emotionally want and rationally need. From there, the specific tactics and content should be derived from that understanding, as well as a deep understanding of the total addressable market, key tactical strengths and opportunities, and competitive white space.
This is the foundation for how you position your asset, but then that positioning must effectively be delivered through a data-driven, quantifiable, strategic marketing and leasing campaign. Remarkably now makes that possible via delivering coherent data, actionable insights, and measured results.
What impact do you see Remarkably having on the commercial real estate market? Do you think platforms like Remarkably could create more competition? Does it allow clients to earn higher returns on their properties?
We believe Remarkably will fundamentally change the role that marketing plays in commercial real estate and will be able to produce and measure unprecedented ROI for properties. The space is hot, and we have no doubt that as folks continue to see the opportunity, more will try and get into it. It’s going to be a very interesting game.
What’s next for Remarkably? How and where is the platform looking to grow?
Remarkably’s first iteration of the platform is live and actively onboarding clients across the United States. But that is just the beginning – what we have planned as it relates to upcoming features and functionality are very exciting and will take it to a whole new level, adding in a full automation and live-time optimization of all marketing tactics properties employ.