Social Media: How Business Gets Done

Social Media: How Business Gets Done Mike Whaling, 30 Lines September 16, 2009

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>> Why bother with social media? >> What apartment companies are doing >> What others are doing >> What you can do

The Internet is booming... MyNewPlace estimates nearly 80% of apartment searches now begin online.

... Yet, your website is less important. 53% of online users consume content outside traditional corporate websites.

Internet searchers are impatient. Less than 10% of searchers read beyond the rst three pages of results.

Social media impacts your reputation. One-third of all Internet users post opinions. 36% think more positively about a company that maintains a blog.

Social media? Web 2.0? Kid stuﬀ, right?

“Social media” is people having conversations ... online.

...But it’s about more than a conversation.

The best thing to happen to your organization.

>> 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.

Those conversations are powered by... • Social networks • Widgets • Blogs • Social bookmarks • Online chat • Message boards • Podcasts • Photo sharing • RSS • Video sharing • Microblogs • Wikis

Where does it t? >> Marketing >> Branding >> Customer service >> Resident retention >> Internal communications and training

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

Understand your audiences. Your message. Your goals.

Stop shouting ... start listening.

Who are you trying to reach? Where are they online? What are they saying?

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.

Start networking.

Joining the conversation: >> Learn the rules. >> Be interested. Be interesting. >> Leave a trail. >> Start courting customers and in uencers.

Be approachable.

It’s not about you.

Play DJ.

“We’re just AWESOME...”

Work it into your business.

Track your progress.

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

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...

What now?

“80% of success is showing up.”

NOT ANY MORE

A slow drip...

Find ways to complement your current eﬀorts.

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.

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.”

Test the water.

Build your brand to new heights.

#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.

Mike Whaling 386.795.8000 mike@30lines.com 30lines.com twitter.com/30lines facebook.com/30lines

Your turn

Multifamily On Social Media Best Practices, Pros/Cons, and a Few Other Ideas of Note Presentation design by BTLD Consulting

From Leasing Consultant to Information Concierge

From Leasing Consultant to Information Concierge “New marketing is about the relationships, not the medium.” - Ben Grossman

From Leasing Consultant to Information Concierge “New marketing is about the relationships, not the medium.” - Ben Grossman “By creating compelling content, you can become a celebrity.” - Paul Gillin

Pros & Cons to Social Media Technology

Pros & Cons to Social Media Technology Instant Information

Pros & Cons to Social Media Technology InstantInformation REQUIRES constant updating to keep current information relevant

Pros & Cons to Social Media Technology Instant Information REQUIRES constant updating to keep current information relevant Costs time

Pros & Cons to Social Media Technology Instant Information REQUIRES constant updating to keep current information relevant Costs time Potential to be abused/fair housing violations concerns

Pros & Cons to Social Media Technology Instant Information REQUIRES constant updating to keep current information relevant Costs time Potential to be abused/fair housing violations concerns The Internet’s got a long memory

Pros & Cons to Social Media Technology Instant Information Instant Information REQUIRES constant updating to keep current information relevant Costs time Potential to be abused/fair housing violations concerns The Internet’s got a long memory

Pros & Cons to Social Media Technology Instant Information InstantInformation REQUIRES constant updating Constantly updates information to keep current information to keep your residents in the relevant loop and connected Costs time Potential to be abused/fair housing violations concerns The Internet’s got a long memory

Pros & Cons to Social Media Technology Instant Information InstantInformation REQUIRES constant updating Constantly updates information to keep current information to keep your residents in the relevant loop and connected Costs time Free Tools Potential to be abused/fair housing violations concerns The Internet’s got a long memory

Pros & Cons to Social Media Technology Instant Information InstantInformation REQUIRES constant updating Constantly updates information to keep current information to keep your residents in the relevant loop and connected Costs time Free Tools Potential to be abused/fair Can be monitored for content housing violations concerns The Internet’s got a long memory

Pros & Cons to Social Media Technology Instant Information InstantInformation REQUIRES constant updating Constantly updates information to keep current information to keep your residents in the relevant loop and connected Costs time Free Tools Potential to be abused/fair Can be monitored for content housing violations concerns People have short attention The Internet’s got a long spans memory

Some companies in our area who are already paving the road:

Some companies in our area who are already paving the road: But Why?

Word of Mouth Marketing

Word of Mouth Marketing Word of Mouth Marketing by Andy Sernovitz $24.95

Word of Mouth Marketing Most Powerful form of Marketing in the Current Economy Word of Mouth Marketing by Andy Sernovitz $24.95

Word of Mouth Marketing Most Powerful form of Marketing in the Current Economy It’s About Conversation Word of Mouth Marketing by Andy Sernovitz $24.95

Word of Mouth Marketing Most Powerful form of Marketing in the Current Economy It’s About Conversation Honest & Genuine Word of Mouth Marketing by Andy Sernovitz $24.95

Word of Mouth Marketing Most Powerful form of Marketing in the Current Economy It’s About Conversation Honest & Genuine Join the Conversation That’s Already Happening Word of Mouth Marketing by Andy Sernovitz $24.95

Word of Mouth Marketing Most Powerful form of Marketing in the Current Economy It’s About Conversation Honest & Genuine Join the Conversation That’s Already Happening Don’t Fear Yelp! & Apartment Ratings Word of Mouth Marketing by Andy Sernovitz $24.95

Word of Mouth Marketing Most Powerful form of Marketing in the Current Economy It’s About Conversation Honest & Genuine Join the Conversation That’s Already Happening Don’t Fear Yelp! & Apartment Ratings Build Evangelizers Word of Mouth Marketing by Andy Sernovitz $24.95

Other On Site Staff Benefits to Utilizing Social Media

Other On Site Staff Benefits to Utilizing Social Media Quickaccess to new ideas and solutions to common problems

Other On Site Staff Benefits to Utilizing Social Media Quick access to new ideas and solutions to common problems More direct involvement with your residents

Other On Site Staff Benefits to Utilizing Social Media Quick access to new ideas and solutions to common problems More direct involvement with your residents Community building within our industry

Other On Site Staff Benefits to Utilizing Social Media Quick access to new ideas and solutions to common problems More direct involvement with your residents Community building within our industry New trends come to you right away

Other On Site Staff Benefits to Utilizing Social Media Quick access to new ideas and solutions to common problems More direct involvement with your residents Community building within our industry New trends come to you right away Tons of new resources your team might not otherwise find

Other On Site Staff Benefits to Utilizing Social Media Quick access to new ideas and solutions to common problems More direct involvement with your residents Community building within our industry New trends come to you right away Tons of new resources your team might not otherwise find More direct conversations on shorter mediums mean more productivity, not less

Not One Size Fits All Marketing and Connecting Needs

Not One Size Fits All Marketing and Connecting Needs Facebook, Twitter, YouTube, Blogs, Plaxo, Ning, LinkedIn, MySpace, Google Wave, and More

Without Method, You’ll Have Madness

Without Method, You’ll Have Madness Prior to “Jumping In”  Have a strategy  Is this really going to fit our core demographic?  Who will maintain it? How much time do we allow for it?  How are we going to generate new and unique content?  Remember, you don’t have to use every tool out there  Starting with Twitter and Facebook is a good idea since the two can interlink pretty well with minimal extra work

Without Method, You’ll Have Madness Prior to “Jumping In”  Have a strategy  Is this really going to fit our core demographic?  Who will maintain it? How much time do we allow for it?  How are we going to generate new and unique content?  Remember, you don’t have to use every tool out there  Starting with Twitter and Facebook is a good idea since the two can interlink pretty well with minimal extra work  Listen before you think about speaking

Without Method, You’ll Have Madness Prior to “Jumping In”  Have a strategy  Is this really going to fit our core demographic?  Who will maintain it? How much time do we allow for it?  How are we going to generate new and unique content?  Remember, you don’t have to use every tool out there  Starting with Twitter and Facebook is a good idea since the two can interlink pretty well with minimal extra work  Listen before you think about speaking  Plan an organized roll out of social media marketing  Learn the netiquette of the platform that you’re using  It’s not about plastering ads, it’s about providing content.  Respect the Terms of Service (TOS) of the tool

Anything Worth Doing is Worth Doing Well…

What makes for Compelling Content?

What makes for Compelling Content? Current local politics and cultural events around your community

What makes for Compelling Content? Currentlocal politics and cultural events around your community Resident written reviews of local plays/new movies

What makes for Compelling Content? Currentlocal politics and cultural events around your community Resident written reviews of local plays/new movies Restaurant reviews/recommendations

What makes for Compelling Content? Current local politics and cultural events around your community Resident written reviews of local plays/new movies Restaurant reviews/recommendations Daily thoughts or quotes, IF appropriate

What makes for Compelling Content? Current local politics and cultural events around your community Resident written reviews of local plays/new movies Restaurant reviews/recommendations Daily thoughts or quotes, IF appropriate Stuff to do on the weekends in your area

What makes for Compelling Content? Current local politics and cultural events around your community Resident written reviews of local plays/new movies Restaurant reviews/recommendations Daily thoughts or quotes, IF appropriate Stuff to do on the weekends in your area Travel tips in seasons when travel is frequent

What makes for Compelling Content? Current local politics and cultural events around your community Resident written reviews of local plays/new movies Restaurant reviews/recommendations Daily thoughts or quotes, IF appropriate Stuff to do on the weekends in your area Travel tips in seasons when travel is frequent DIY projects for apartment decorating or money saving “make it at home” tips

What makes for Compelling Content? Current local politics and cultural events around your community Resident written reviews of local plays/new movies Restaurant reviews/recommendations Daily thoughts or quotes, IF appropriate Stuff to do on the weekends in your area Travel tips in seasons when travel is frequent DIY projects for apartment decorating or money saving “make it at home” tips It’s about what your RESIDENTS want to read about, not just what you want to write about

And on the off chance you thought you could ignore it…

And on the off chance you thought you could ignore it…  Facebook grows by over 1 million users a WEEK in the US alone and more than 2/3 of FB users are out of college  Twitter has over 12 million users currently and is expected to grow to 18 million users by 2010

And on the off chance you thought you could ignore it…  Facebook grows by over 1 million users a  6 of 10 Americans who use Social Media WEEK in the US alone and more than 2/3 interact with companies through Social of FB users are out of college Media sites  Twitter has over 12 million users currently  85% of social media users think that and is expected to grow to 18 million users companies should interact with them by 2010 through social media

And on the off chance you thought you could ignore it…  Facebook grows by over 1 million users a  6 of 10 Americans who use Social Media WEEK in the US alone and more than 2/3 interact with companies through Social of FB users are out of college Media sites  Twitter has over 12 million users currently  85% of social media users think that and is expected to grow to 18 million users companies should interact with them by 2010 through social media Ostrich Syndrome won’t work when it comes to Social Media.

Resources and Links

Resources and Links Tools can be found at:  www.facebook.com  www.twitter.com  www.ning.com  www.wordpress.com  www.youtube.com  www.plaxo.com  www.linkedin.com  www.myspace.com  www.circlepix.com  www.photobucket.com  www.flicker.com

Resources and Links Tools can be found at: Websites and blogs that can help:  www.facebook.com  www.multifamilyinsiders.com  www.twitter.com  www.propertymanager.com  www.ning.com  www.30lines.com  www.wordpress.com  www.mbrewergroup.com  www.apartmentveteran.com  www.youtube.com  www.apartmentmarketingblog.com  www.plaxo.com  www.theapartmentnerd.com  www.linkedin.com  www.myspace.com  www.circlepix.com  www.photobucket.com  www.flicker.com

Resources and Links Tools can be found at: Websites and blogs that can help:  www.facebook.com  www.multifamilyinsiders.com  www.twitter.com  www.propertymanager.com  www.ning.com  www.30lines.com  www.wordpress.com  www.mbrewergroup.com  www.apartmentveteran.com  www.youtube.com  www.apartmentmarketingblog.com  www.plaxo.com  www.theapartmentnerd.com  www.linkedin.com  www.myspace.com Suggested Books:  www.circlepix.com  Groundswell by Bernoff  www.photobucket.com  The New Rules of Marketing and PR by Scott  Word of Mouth Marketing by Sernovitz  www.flicker.com  Creating Customer Evangelists by McConnell and Huba

We Know You’ve Got Questions… Presentation by Missy Castaneda, Carla Morin, & Heather Blume, with special thanks to Darcey Forbes of Essex Property Trust for her insights. Do you want to see more great events like this one? Get Involved with a WMFHA Committee!

Social Media: How Business Gets Done

by 30 Lines on Sep 17, 2009

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