NORFOLK, VA - According to a recent study conducted by Nielsen and Facebook, consumers trust their friends and peers more than anyone else in making a purchase decision. With more than 58,000 apartment listings "shared" through ForRent.com's social media "share" tool since October 2009, it is evident this research proves useful in the multi-housing industry as well. ForRent.com is a leading resource for searching apartments for rent and a division of Dominion Enterprises.
When it comes to the purchasing process, consumers trust the opinions of others. According to a previous report from Nielsen, 90 percent of respondents said they would trust recommendations from people they know and 70 percent would trust consumer opinions posted online.
Social media is also playing a significant role in the purchasing process of the tech-savvy consumer. According to the Nielsen and Facebook study, "Advertising Effectiveness: Understanding the Value of a Social Media Impression," respondents who view organic ads, such as newsfeed stories on the Facebook home page, were three times more likely to remember the ad versus those who viewed a regular, non-organic ad.
"Implementing the social media 'share' tool on ForRent.com has proven to be beneficial to property managers," noted Brock MacLean, senior vice president of national sales and development. "In April alone, nearly 9,000 apartment listings on ForRent.com were shared on social media sites like Facebook, Twitter™ and MySpace™. Since the tool's launch, more than 58,000 listings have been shared."
When selecting their next apartment, prospective renters who visit ForRent.com are using the "share" tool to get feedback from people they know and trust. Prospects can also ease the apartment decision-making process by using the compare feature on ForRent.com. They can compare up to four properties at the same time and share those listings with friends to find one that best fits their needs. In May, more than 78,000 apartments were compared on ForRent.com.
To learn more about these social media features, watch the compare and share video on the ForRent.com blog.
About For Rent Media Solutions™
For Rent Media Solutions™ is a division of Dominion Enterprises and a leading resource for property managers and potential renters searching for apartments. For Rent Media Solutions operates For Rent Magazine® and publishes 100 magazines covering more than 190 markets nationwide. For Rent Media Solutions also offers four Web sites, including ForRent.com. For Rent Media Solutions is dedicated to the needs of the apartment industry, bringing prospective residents and apartment communities together.
About Dominion Enterprises
Dominion Enterprises is a leading marketing services company serving the automotive, enthusiast and commercial vehicle, real estate, apartment rental, and employment industries. The company's businesses provide a comprehensive suite of technology-based marketing solutions including Internet advertising, lead generation, CRM, Web site design and hosting, and data management services. The company has more than 40 market-leading Web sites reaching more than 17.6 million unique visitors monthly, and more than 280 magazines with a weekly circulation of 2.4 million. Headquartered in Norfolk, Va., the company has 4,900 employees in more than 186 offices nationwide. For more information, visit www.dominionenterprises.com.
###