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Social Media
For Multifamily Executives



                Greg Starr and Mike Whaling
                            October 14, 2009
Today
>>   Why bother?
>>   How your organization can bene t
>>   How to develop your strategy
>>   What you can expect
www. ickr.com/photos/urbanelife/3183422847




   “Social media” is people
having conversations ... online.
Those conversations are powered by...

• Social networks         • Widgets
• Blogs                   • Social bookmarks
• Online chat             • Message boards
• Podcasts                • Photo sharing
• RSS                     • Video sharing
• Microblogs              • Wikis
TheConversationPrism.com




A set of communication tools
>> It levels the playing eld
   by giving you a voice.
>> It gives you a direct connection
   to your customers.
>> It gives your customers a direct
   connection to each other.
Understand your audiences.
 Your message. Your goals.
Where does it t?
>>   Public Relations
>>   Marketing
>>   Customer service
>>   Resident retention
>>   Recruiting
>>   Internal communications and training
Use the right tool for the job.


www. ickr.com/photos/tashland/259178493
“We’re just AWESOME...”
Work it into your business.
Make a name
                                               for yourself
                                               by caring.
www. ickr.com/photos/27403767@N00/2355638110
So what can you do?
De ne Your Strategy
>>   Listen to the market
>>   Claim your presence
>>   Build your network
>>   Steer the conversation
>>   Work it into your business
Stop shouting ... start listening.
Claim your presence.
Build your presence.
>>   Create communication hubs.
>>   Set up outposts.
>>   Keep the message consistent.
>>   Don’t forget maps and listing sites.
>>   Keep them current.
Be approachable.
Joining the conversation:
>> Learn the rules.
>> Be interested. Be interesting.
>> Leave a trail.
>> Start courting customers and in uencers.
It’s not about you.
Play DJ.
What metrics are you using?
Marketing
>> Increased traffic to website
>> Better traffic to website
>> Increased % of lease conversions

Branding
>> Increased presence on search engines
>> Responsive on ratings/reviews sites
>> Increased % of lease conversions

Customer Service
>> Higher ratings
>> Increase in resident testimonials
Web traffic
Resident communication   Advertising costs
        Feedback         Newsletter costs
        Retention           Turnover
     Brand presence        Concessions
          Value
          Rents
Obstacles
Obstacles
>> “What if somebody says something bad?”
>> “What’s the ROI?” (Risk Of Inaction)
>> “It’s a fad.” (Fundamental change in habits)
>> “I don’t have the time.”
Making it work for your company
>> Develop policies that ts your team
>> Communicate goals, de ne roles
>> Provide tools to help staff succeed
>> EDUCATE
>> Understand regulations (FTC)
How does it all t together?
Urbane goals:
>> Reduce spending on paid listings.
>> Build sense of community and exclusivity.
>> Sell a lifestyle and experience.
Give residents their own space.
Become a community hub.
Ask for the review.
How they make it happen.
Urbane results:
>> Website traffic up 65%.
>> Blog traffic grows 35% monthly.
>> Participation in Urbane Lobby up 400%.
More results:
>> Little paid advertising over past year.
>> Nearly 100% increase in lease conversion.
>> Rents 3-4x higher than local competition.
>> Brand awareness drives retention.
>> Avg. cost per lease = $130.
Urbane results:




                  One more bene t...
Urbane results:




                  One more bene t...
What now?
Look at the whole picture.
>> Your brand is how people perceive you.
   What other say about you is more
   important than ever before.
>> Like it or not, social media leads to
   conversations about your company.
   Participating helps you control the
   message.
Test the water.
Have fun.


www. ickr.com/photos/27403767@N00/2355638110
www. ickr.com/photos/cardopoli/219069323


Companies can’t hide anymore.
What’s your bigger idea?
#AptChat
twitter.com/aptchat
Industry sites and resources:
>> Multifamily Insiders
>> Resident 2.0
>> LinkedIn groups
>> Twitter contacts
Multifamily in uencers:
>> Eric Brown: @Eric_Urbane
>> Lisa Trosien: @LisaTrosien
>> CharityHisle: @CharityHisle
>> Heather Blume: @artchickhb
>> Brent Williams: @brentwilliams2
>> Eric Wu: @RentWiki
>> Resident 2.0: @resident20
Keep learning:
>> Groundswell
>> Trust Agents
>> Cluetrain Manifesto
>> Tribes
>> SocialMediaToday.com
>> MarketingProfs.com
>> Hello! My Name is Scott.
Greg Starr                   Mike Whaling
877.512.5500                 386.795.8000
gstarr@propertycentric.com   mike@30lines.com

propertycentric.com          30lines.com
twitter.com/gregstarr        twitter.com/30lines
facebook.com/gregstarr       facebook.com/30lines
Let’s talk.

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Social Media Strategies for Multifamily Executives

Notes de l'éditeur

  1. http://www.flickr.com/photos/urbanelife/3183422847
  2. The Conversation Prism: http://theconversationprism.com/
  3. http://www.flickr.com/photos/tashland/259178493/
  4. Embrace your biggest fans and your staff ... getting them involved can actually make your job easier.
  5. Finally, find ways to work these tools into other parts of your business. My Starbucks Idea - http://mystarbucksidea.com
  6. Frank Eliason, Comcast - http://twitter.com/comcastcares
  7. http://www.flickr.com/photos/27403767@N00/2355638110
  8. Get out of broadcast mode and start listening to your customers. Use tools like Google Alerts, Google Blog Search, Twitter Search, and Technorati to identify where conversations are happening ... conversations about you, your brand, your staff, your neighborhood, your competition, anything relevant to your business. Find your audience, find ways to connect.
  9. Enterprise Community Partners
  10. The easiest way to build your network? Be approachable. Scott Ginsberg - http://hellomynameisscott.com
  11. Treat it like a cocktail party ... you can’t be too aggressive or annoying. Don’t be “that guy.” Find the most vocal, most passionate people ... then look for ways to help them.
  12. Being interesting all the time can be tough. Think of yourself as a DJ, a talk show host, or an information concierge. Create a “playlist” worthy of your audience’s attention. One great way to claim your presence is to create a blog. Here, you can play DJ by highlighting what’s cool and what’s new around town. Examples: Surfing Nosara - http://surfingnosara.com (Hat tip to Eric Wu for this example.)
  13. Google Analytics - http://www.google.com/analytics Quantcast - http://www.quantcast.com Bit.ly - http://bit.ly Feedburner - http://feedburner.google.com Facebook Insights Omniture Technorati - http://www.technorati.com IceRocket - http://www.icerocket.com
  14. Fans / followers Interactions – posts, comments Mentions Signups / Subscribers Web Analytics - Web traffic /  Referring traffic Feedback, positive and negative Evangelists
  15. Urbane Lobby: http://urbanelobby.com
  16. The Urbane Life blog - http://urbaneblog.com
  17. Do a search for your company, your organization, your competition … see what comes up. Also, try tools by using them internally first.
  18. http://thecorporatemullet.com
  19. http://www.flickr.com/photos/cardopoli/219069323/
  20. These initiatives are tough to do at each property. Have a local mindset, but focus on a bigger idea ... focus on building a bigger brand message. One last great example (regardless of your politics) ... CHANGE.
  21. Multifamily Insiders: http://www.multifamilyinsiders.com Resident 2.0: http://www.resident20.com LinkedIn groups: http://www.linkedin.com Twitter contacts ==> See next slide for links.
  22. Industry contacts on Twitter: - Eric Brown: http://twitter.com/Eric_Urbane - Lisa Trosien: http://twitter.com/ltrosien - Charity Hisle: http://twitter.com/CharityHisle - Heather Blume: http://twitter.com/artchickhb - Brent Williams: http://twitter.com/brentwilliams2 - Eric Wu: http://twitter.com/RentWiki - Resident 2.0: http://twitter.com/Resident20 - Training Factor: http://twitter.com/trainingfactor
  23. Resources: - Groundswell: http://groundswell.forrester.com - Trust Agents: http://chrisbrogan.com - Cluetrain Manifesto: http://www.cluetrain.com - Tribes (Seth Godin): http://www.triiibes.com - Social Media Today: http://www.socialmediatoday.com - MarketingProfs: http://www.marketingprofs.com - Hello! My Name is Scott: http://hellomynameisscott.com