Social Media for Multifamily Executives

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How multifamily executives can use social media for their business.

Originally presented by Greg Starr from Property Centric and Mike Whaling from 30 Lines on October 14, 2009.

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  • http://www.flickr.com/photos/urbanelife/3183422847
  • The Conversation Prism: http://theconversationprism.com/
  • http://www.flickr.com/photos/tashland/259178493/
  • Embrace your biggest fans and your staff ... getting them involved can actually make your job easier.
  • Finally, find ways to work these tools into other parts of your business.

    My Starbucks Idea - http://mystarbucksidea.com
  • Frank Eliason, Comcast - http://twitter.com/comcastcares
  • http://www.flickr.com/photos/27403767@N00/2355638110
  • 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.
  • Enterprise Community Partners
  • The easiest way to build your network? Be approachable.

    Scott Ginsberg - http://hellomynameisscott.com
  • 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.
  • 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.)
  • 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
  • Fans / followers
    Interactions – posts, comments
    Mentions
    Signups / Subscribers
    Web Analytics - Web traffic /  Referring traffic
    Feedback, positive and negative
    Evangelists
  • Urbane Lobby: http://urbanelobby.com
  • The Urbane Life blog - http://urbaneblog.com
  • Do a search for your company, your organization, your competition … see what comes up. Also, try tools by using them internally first.
  • http://thecorporatemullet.com
  • http://www.flickr.com/photos/cardopoli/219069323/
  • 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.
  • 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.
  • 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
  • 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
  • Social Media for Multifamily Executives

    1. 1. Social Media For Multifamily Executives Greg Starr and Mike Whaling October 14, 2009
    2. 2. Today >> Why bother? >> How your organization can bene t >> How to develop your strategy >> What you can expect
    3. 3. www. ickr.com/photos/urbanelife/3183422847 “Social media” is people having conversations ... online.
    4. 4. Those conversations are powered by... • Social networks • Widgets • Blogs • Social bookmarks • Online chat • Message boards • Podcasts • Photo sharing • RSS • Video sharing • Microblogs • Wikis
    5. 5. TheConversationPrism.com A set of communication tools
    6. 6. >> 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.
    7. 7. Understand your audiences. Your message. Your goals.
    8. 8. Where does it t? >> Public Relations >> Marketing >> Customer service >> Resident retention >> Recruiting >> Internal communications and training
    9. 9. Use the right tool for the job. www. ickr.com/photos/tashland/259178493
    10. 10. “We’re just AWESOME...”
    11. 11. Work it into your business.
    12. 12. Make a name for yourself by caring. www. ickr.com/photos/27403767@N00/2355638110
    13. 13. So what can you do?
    14. 14. De ne Your Strategy >> Listen to the market >> Claim your presence >> Build your network >> Steer the conversation >> Work it into your business
    15. 15. Stop shouting ... start listening.
    16. 16. Claim your presence.
    17. 17. Build your presence. >> Create communication hubs. >> Set up outposts. >> Keep the message consistent. >> Don’t forget maps and listing sites. >> Keep them current.
    18. 18. Be approachable.
    19. 19. Joining the conversation: >> Learn the rules. >> Be interested. Be interesting. >> Leave a trail. >> Start courting customers and in uencers.
    20. 20. It’s not about you.
    21. 21. Play DJ.
    22. 22. What metrics are you using?
    23. 23. 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
    24. 24. Web traffic Resident communication Advertising costs Feedback Newsletter costs Retention Turnover Brand presence Concessions Value Rents
    25. 25. Obstacles
    26. 26. 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.”
    27. 27. 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)
    28. 28. How does it all t together?
    29. 29. Urbane goals: >> Reduce spending on paid listings. >> Build sense of community and exclusivity. >> Sell a lifestyle and experience.
    30. 30. Give residents their own space.
    31. 31. Become a community hub.
    32. 32. Ask for the review.
    33. 33. How they make it happen.
    34. 34. Urbane results: >> Website traffic up 65%. >> Blog traffic grows 35% monthly. >> Participation in Urbane Lobby up 400%.
    35. 35. 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.
    36. 36. Urbane results: One more bene t...
    37. 37. Urbane results: One more bene t...
    38. 38. What now?
    39. 39. 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.
    40. 40. Test the water.
    41. 41. Have fun. www. ickr.com/photos/27403767@N00/2355638110
    42. 42. www. ickr.com/photos/cardopoli/219069323 Companies can’t hide anymore.
    43. 43. What’s your bigger idea?
    44. 44. #AptChat twitter.com/aptchat
    45. 45. Industry sites and resources: >> Multifamily Insiders >> Resident 2.0 >> LinkedIn groups >> Twitter contacts
    46. 46. 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
    47. 47. Keep learning: >> Groundswell >> Trust Agents >> Cluetrain Manifesto >> Tribes >> SocialMediaToday.com >> MarketingProfs.com >> Hello! My Name is Scott.
    48. 48. 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
    49. 49. Let’s talk.

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