How many coffee mugs and key chains can one person really use?
Such was the sentiment when Village Green began the lease-up for Current at the Banks, an upscale, 300-unit community in downtown Cincinnati.
Instead of giving new residents boring and (arguably) useless move-in gifts, the Detroit-based third-party management company decided to offer something of real value: a “swag bag” full of gift cards, coupons and discounts to local retailers worth over $500.
Best of all, it came at no cost to Village Green.
All of the participating businesses were solicited by Downtown Cincinnati Inc. (DCI), a nonprofit company representing retailers in the central business district—an area that had not seen a new apartment community in years. DCI approached Village Green with the idea after recognizing the opportunity for local businesses to tap into the new pool of consumers.
The response to DCI’s request for contributions was overwhelmingly positive, says Kristi Fickert, Senior Regional Sales & Marketing Director for Village Green. Thirty retailers have already contributed to the swag bags, which are given to each new resident and include everything from free theater tickets to a coupon for a free yoga class and a $25 gift certificate to a local restaurant. Key chains and toilet paper can’t compete.
Fickert says the bags are a great way to create more value for Current at the Banks’ residents—who pay as much as $2,400 a month for rent—without losing money on concessions.
Village Green has promoted some of these exclusive swag bag offers by posting links and information for the partner businesses via Facebook and blog posts, but for the most part, Fickert says residents don’t expect anything when they move in—and certainly not something with this much value. “Our residents love the idea and have been pleasantly surprised,” she says.
Additionally, the swag bags build a sense of community for many residents who are new to the city of Cincinnati and unfamiliar with downtown retailers.
“These bags give residents a sort of starting point of where to go because we’ve approved these businesses,” Fickert says. “The retailers are hoping our residents will visit them, have a great experience and become loyal customers—and so far, that’s exactly what’s happening.”
While Village Green does not pay the participating retailers, the company returned the favor by mentioning the local businesses on its Facebook page and in press releases that were distributed to the media announcing Current at the Banks’ grand opening and swag bag program.
The bags’ success has compelled Village Green to roll out the program companywide. Village Green plans to work with local business owners and commerce groups similar to DCI. Fickert doesn’t think it will be difficult to convince new retailers to participate because the swag bags’ track record speaks for itself.
Regional Sales & Marketing Directors for each region—along with each community’s onsite team—will host the program with retailers in their markets. Village Green may eventually designate someone in the corporate office to manage the swag bag program, but right now the focus is to keep the program local.
“For anyone interested in creating a similar program, the key is to remember that it’s not about your company—it’s all about the businesses and what’s in it for them,” Fickert says. “You have to show them how this will help their business and demonstrate what a great grassroots marketing campaign this could be.”
–NAA’s Lauren Boston