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AIM 2011 Startup Competition - All Presenters

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Presentations from contestants in the Apartment Internet Marketing Conference's 2011 startup competition. Rentmineonline.com took home the victor's trophy.

Presentations from contestants in the Apartment Internet Marketing Conference's 2011 startup competition. Rentmineonline.com took home the victor's trophy.

Published in: Real Estate, Business, Technology

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  • 4,1,5,3,2
  • I am Lucas Haldeman, the founder of ApartmentGrade.I am also an owner of a small multifamily portfolio in iowa, and before that I was with Move.com for 10 years; when I started we were called AllApartments, if you any of you out there remember those days.I started Apartment Grade 14 months ago and We are headquartered in Coralville, iowa
  • YOU CAN GET CREDIBLE, NON-BIASED REVIEWS AND RANKINGS OF THESE:
  • But there was NOT ONE SINGLE SITE with objective apartment reviews.I can find better information on a can of beer than I can on an apartment that is costing me half my paycheck.
  • So, what is ApartmentGrade?We are a new kind of apartment rating site; A different kind of apartment rating site.We start with the premise that a review should first and foremost strive to be accurate.ApartmentGrade is different from other review sites in two key waysWe only post a review if a comprehensive survey of ALL the residents has been completed; instead of passively waiting for anonymous review to pour in, we proactively go out and ask the current residents for their opinions.We only feature those apartments that make the grade, that is those apartments whose overall resident approval rating is better than 3.5 stars out of 5And once your community is on ApartmentGrade you have a powerful new marketing tool to go out and combat against the other rating sites and protect your reputation
  • Ok, I am going to back up a little bit and go through why we think this site is so important for consumers, and go through in a little bit more detail how it works for an onwer or manager.For most renters, choosing where they are going to live is the most important economic decision they will make. In Fact, for many it will cost them half of their total income.
  • What is out there for residents right now?Basically, what is out there is confusion. It’s what I call the renter’s paradox.On the one hand you have owner supplied marketing copy and on the other hand you have anonymous rants many of which border on delusional.Who should the renter trust?
  • The answer of course is ApartmentGrade, the first non-biased, objective review site for apartments.
  • So we’ve gone through how it works for the prospective renter, I would like to take a moment to go through how the site works for the owners and managers.For owner’s and managers, apartmentgrade offers you a way to fight back against slanderous anonymous reviews. It gives owner’s a a It is a quite simple, two step process.
  • Step 1: we survey your residents. For Free.Or, if you already have a resident survey done by satisfacts or CEL & Associates, all you have to do is let them know you want to be a part of ApartmentGrade, and you do not have to complete an additional survey.After the survey is done, we share with you the scores and any qualifying property is placed on ApartmentGrade.
  • The second step is simply deciding where you want your traffic sent.For a nominal fee, we will send it directly to your web site.Or, if you would prefer and you work with an ILS, we will send the traffic directly to your brochure page on the ILS web site.
  • As I touched on briefly before, we are pleased to be partnered with Satisfacts and CEL & Associates; giving you the opportunity to utilize the survey you already do in a new way.
  • Some of the current owner’s and managers who have properties live on ApartmentGrade.
  • And finally, a little bit about the metrics we use to track our success.We have seen a strong correlation between adding properties and driving traffic. Because we derive the bulk of our traffic organically, I think this makes sense. So the key metric we are pushing is simply property growth. To date we have 307 rated properties online, we have about three times that number in our short term pipeline. In the last six months we have been very pleased with how property growth has started quickly accelerating, as more and more owners hear about what we are doing we feel the excitement building that there is finally a fair and objective rating site for apartments.Thank you very much for your time, I think we might have few minutes for questions.
  • Gerry Wiatrowski, Co-FounderLeadership is comprised of former senior executives from a publicly traded REITCombined 90 years of experience in marketing, property & asset management, accounting and technologyHeadquartered in Chicago with Denver-based operations Company employs 4 core executives & utilizes a support staff of 12Founded in 2009, platform launched January 2011
  • Builds loyalty, boosts retention & encourages renewals and referrals – ancillary talking point to BULLET 3
  • Often times residents are attracted to the idea of free rent but what do they actually do with the money they save? Gets lost in the bank account, never anything to show for it.
  • Retailer partnerships continue to grow as ResidentGifts expands
  • Saves time and administrative burden for on-site staffReduces turnover expenses by increasing retention
  • Engaged residentsProperties increased email capture by nearly 60%More than 65% of residents who opted-in opened the email compared to the industry average of 15%80% of active residents opted-in to the e-newsletterMarketing AdvantageIncreased traffic to resident portalOngoing “feel good” connection with residentsGreater impact than one-time, free rent incentivesComprehensive Marketing Communications ChannelSocial media, resident portal, branding opportunitiesEmployee RelationsPlatform can be used for employee rewards such as leasing incentives, positive shopping reports, obtaining financial goals, work order completion, etc.
  • FB Logo, Twitter, MySpace, email
  • Some of our best customers are the ones who tried this first and failed
  • Transcript

    • 1. AIM 2011 Startup Competition
    • 2. Goals of Competition
      Uncover the best new tools
      Understand how they work
      Encourage industry investment in resident-facing technology
    • 3. Startups Giving Back
      Each startup donated $2,000 to the non-profit Housing Industry Foundation of NorCal
      HIF provides emergency housing assistance to keep residents in their homes – or gets them into homes. HIFINFO.ORG
    • 4. Text Voting Services Courtesy of
    • 5. Mixed Voting Format
      Audience text voting 60% weight
      One vote per cell phone
      Voting from 4-7PM Monday only
      Judges combined – 40% weight
    • 6. Distinguished Judges
      Chris Brown
      Vice President of Product Development, Apartments.com
      John SteuartGeneral Partner, Claremont Creek Ventures
      Dirk WakehamPresident, RealPage
    • 7. Order of Presentation
      RentPing.com – David Watson
      ApartmentGrade.com– Lucas Haldeman
      ResidentGifts– Gerry Wiatrowski
      RentMineOnline.com– Ed Spiegel
      EBT Systems, Inc. – Jeff Smedley
    • 8.
    • 9. Our Multifamily Equation
      Web Traffic × Web Engagement =
      Cost Effective Leads
      Web Traffic
      Web Distribution
      Community Websites
      Corporate Websites
      Search Engine Optimization
      Web Engagement
      Video
      Photography
      Ease of Use
      Metrics to Evaluate Consumer Interest
    • 10. Sample HD Walkthrough Video
    • 11. The Benefits of Professional HD Walkthrough Video
    • 12. Before and After Photo Editing
    • 13. The Rentping Search Widget & Community Sites
    • 14. The Power of Our Equation
    • 15. Featuring only those apartments that make the grade™
    • 16. ApartmentGrade.com - Introduction
      Presenter: Lucas Haldeman, Founder
      Background: Apartment Owner and Former Homestore.com Executive
      18th Employee of AllApartments, run by Mike Mueller and John Helm
      Company Location: Coralville, Iowa
      # of Employees: 4
      Years in Business: 14 Months
    • 17.
    • 18. BUT NOT FOR AN APARTMENT COMMUNITY WHERE A RESIDENT CAN EASILY SPEND 50% OF THEIR YEARLY INCOME!
    • 19. ApartmentGrade.com
      First web site dedicated to providing prospective renters with credible, objective, and accurate ratings of an apartment community based solely on the apartment community's current resident’s feedback.
      • We are taking on the anonymous gripe sites that currently dominate the apartment ratings space giving:
      Renters a USEFUL site to help them find a great place to live
      Owner’s a tool to fight back against anonymous slander
    • 20. Economic Decisions
      For the renter, choosing an apartment is the MOST IMPORTANT economic decision they will make EVERY year.
      1 in 4 renters spends more than 50% of their total income on housing according to a recent study just released by the Joint Center of Housing Studies at Harvard University. http://bit.ly/gkcYMJ
    • 21. The Renter’s Paradox
      “Who Should I Believe?”
      Proprietary and Confidential
      Owner/Marketer
      Upset Resident
      In The Heart of Buckhead
      Surrounded by 30 acres of elegantly landscaped rolling terrain, The Paces Apartment Homes defines living well in the heart of Buckhead. Discover gardens of oaks, azaleas, dogwoods and laurels as well as the world class amenities that only a community the calibre of The Paces can provide. Adjacent to the Atlanta History Center and the Swan House & Gardens, you will enjoy the convenience of having the finest restaurants, shopping and entertainment Atlanta has to offer, minutes from your front door. The Paces generously provides its residents with welcomed services usually only found in private homes and more. Private, elegant, spacious and complimenting the best in Buckhead. Welcome to The Paces.
      Training ground for slumlords
      From: -Anonymous-
      O.K. now, I hope someone who gives a s--- will read this and do something. These apartment people in the office are so rude and swful that they are scary. If I was their boss they would not be working here or anywhere. They are like the apartment mafia, and people are afraid to say what is going on for fear of retribution. The women are low class, the head woman is a pit bull in disguise and does not have any manners. when i moved in it was really different and good but now it is terrible and I cannot move because of my job. I just want it to get better and for those woemn to be put in a dog fighting ring where they can really have fun. Michaaaellllll V ick miss out on these dogs.
      Actual reviews from ApartmentFinder.com and ApartmentRatings.com of a community in Atlanta, GA
    • 22. THE ANSWER:
    • 23. How Does it Work?
    • 24. Step 1: We Survey Your Residents
      We email your current residents a short (seven question) survey
      If you are currently a Satisfacts or CEL & Associates customer, there is no need to do an additional survey
      Based on the survey results, ApartmentGrade will assign an overall rating (1 to 5 stars) to each property
      Any property scoring 3.5 stars or better, will be included an ApartmentGrade
    • 25. Step 2: Receive Leads
      An ApartmentGrade user “clicks” on a listing then are taken to:
      • An ILS. ApartmentGrade is paid a cost per click transfer fee from a partner ILS
      • 26. The community website. ApartmentGrade is paid an annual fee
      Participating ILS
      Property Web Site
    • 27. Key Partner Relationships
      If you work with these companies, you can participate without doing another survey
    • 28. Some Participating Owners
    • 29. Properties and Traffic
      307 of the top apartments currently online
      Traffic and property growth accelerating
    • 30. Where are we going?
      At least 5 rated in properties in all 366 major metro areas or 1,830 rated communities bye the end of next year
      We will do this by:
      Expanding into paid search and business development
      Adding high level sales staff
      Continuing to enhance consumer search by adding new products and tools
    • 31. Incentivizing Residents….Without Free Rent
      Presented By:
    • 32. Free Rent Fails to Deliver
      Incentives like free rent and gift merchandise are financial losses to the community
      Residents quickly forget
      Lacks resident loyalty
      Does not enhance resident experience
    • 33. The End of Free Rent
      ResidentGifts utilizes a points-based rewards platform to incentivize positive resident behaviors
      Only platform providing savings to a community while increasing perceived value to residents
      Enhances the resident experience throughout lease term
    • 34. This is How We Do It
      Management customizes the incentive platform including budget, reward values and behavior categories
      Managers administer entire platform from this single page
      All platform functions available on dashboard
    • 35. Encourage Positive Behavior
      Award points for desired resident activities:
      Creates a positive living experience limited only by the imagination of community management
      • Move-ins - Lease Renewal
      • 36. Referrals - Timely or Early Rent Payment
      • 37. Conflict Resolution - Social Media Activity
    • Give Them What They Want
      Residents redeem accumulated points for promotional codes good at national retailers for things they want and need.
      Every resident gets their own homepage to manage/redeem points
    • 38. It’s All About Relationships
      • Our partnerships with leading retailers provide residents access to products specific to the “Renter Lifestyle”
      • 39. Current retail partnerships, offering hundreds of brand names, include:
      • 40. 1-800 Flowers - Overstock.com
      • 41. Lands End - Sports Authority
      • 42. Cabella’s - Sears
      • 43. K-Mart - Bath & Body Works
      • 44. Omaha Steaks - Restaurant.com
      • 45. Fandango
    • Some Brands Available from ResidentGifts
    • 46. Seriously, It’s That Easy
      • On-site training takes no more than 3 hours and the platform can go live in a matter of days
      • 47. Interfaces with all major PMS systems
      • 48. We provide a quarterly reconciliation with applicable rebates
    • Show Me the Savings
      ResidentGifts provides upfront savings to the community through discounted bulk purchasing of promotional codes from national retailers
      Discounts range from 5%-70% & we split the savings 50/50 with management
      Industry statistics show 1/3 of all loyalty points are never redeemed by consumers (breakage)
      We split the breakage rebate 50/50 with management
    • 49. Communities Reaping the Benefits
      • 3 companies are currently piloting the platform at 10 communities, representing 1,864 total units
      • 50. Experiencing an average of 9.25% savings on the incentive spend
      • 51. If the 3 piloting companies roll out the platform portfolio wide, the annual projected savings opportunity exceeds $3.5 million
    • Even More Benefits
      Engaged Residents
      Market/Competitive Advantage
      Comprehensive Marketing Communications
      Employee Relations
    • 52. Remember: No More Free Rent
      ResidentGifts is the only points-based rewards platform
      Delivering community savings
      Enhancing the resident experience
      Engaged, satisfied residents
      Redeem points, renew and refer – ultimately improving your bottom line
    • 53. Questions
    • 54.
    • 55. Problem: Optimizing Asset Value
      • Difficulty reaching qualified, targeted prospects
      • 56. Inconsistent Lengths of Stay
      • 57. Inefficient Referral Marketing
    • Solution: Personalized Social Referral Marketing
      • Targeted and Trackable
      • 58. Easy to Use and Cost-Effective
      • 59. Community Building
    • How We Power Social Referrals1. Resident receives an email on behalf of Property
    • 60. 2. Residents Sign In
    • 61. 3. Residents Post Referrals
    • 62. 4. Friends Click and are Directed to Personalized Property Page
    • 63. Modern Day Testimonials: Referral Widget
    • 64. Social Tracking: Resident Distribution
    • 65. Social Tracking: “Friend” (aka prospect) Engagement
    • 66. Social Tracking: Friend Based Analytics
      Preliminary Length of Stay Data
      Average Length of Stay
      (Months)
      # Facebook Friends at the Property
    • 67. Sample Clients: 70+ Management Companies
    • 68. Testimonials and ROI
      “We were able to connect many of our resident referrals directly to the program.”
      Melissa RobbinsMarketing AssociateGreystar
      “Our experience with RentMineOnline has been one that grows over time.”
      Mark Juleen
      VP Marketing
      JC Hart
      “Our referral rate nearly tripled for participating residents and our investment paid itself back 3 times over.”
      Peggy Hale
      Vice President of Sales,
      Marketing & Training
      Morgan Properties
    • 69. The RentMineOnline Team
      Account Managers /
      Developers / Designers
      Jacqueline
      Julie
      Matt
      Chris
      Max
      Oscar
      Industry Advisors
      Lisa Trosien
      Industry Professional
      Extraordinaire
      Investors
      Facebook Fund
      Seedcamp, Alex Hoye, PiE
      Equity, Lindzon Capital
      Ed Spiegel
      Founder, CEO
      Duke University (Civil Engineering), INSEAD (MBA)
      Business Development (SoftCoin), Venture Capital Silicon Valley
      4 years MultiFamily Experience Speaker at NAA, AIM, Brainstorming
      Kevin Lochner
      Technology Director
      Duke University (Computer Science)
      PHD University of Michigan (Computer Science)
      Team
      • Ed Spiegel – Founder, CEO
      • 70. Duke University (Civil Engineering), INSEAD (MBA)
      • 71. Business Development (SoftCoin), Venture Capital Silicon Valley
      • 72. 4 years MultiFamily Experience Speaker at NAA, AIM, Brainstorming
      • 73. Kevin Lochner – Technology Director
      • 74. Duke University (Computer Science)
      • 75. PHD University of Michigan (Computer Science)
      Account Managers / Developers / Designers
      Jacqueline
      Julie
      Stanton
      Matt
      Chris
      Max
      Industry Advisors
      • Lisa Trosien
      • 76. Industry Professional Extraordinaire
      Investors
      • Facebook Fund
      • 77. Seedcamp, Alex Hoye, PiE Equity, Lindzon Capital
    • Why this is a business
      Low Price Points, High Technology Investment
      Your own in-house expert on Social Network Distribution
    • 78. Growth Story
    • 79. Thank You
      Try our demo at www.RentMineOnline.com/Demo
    • 80. Cost Per Lease
    • 81. Calculating ROI
      (Revenue – Investment ) / Investment = ROI
      Revenue = Vacancy Aversion = 2 months rent
      Assumed Average Rent = $1,000
      Revenue per lease = 2 x $1,000 = $2,000
    • 82. 5. Managers Track Results
      Tracking: Campaign Level
    • 83. ROI Matching
      Management Company provides referral bonus list that is checked against RMO participation
      RentMineOnline Participating Residents: Data Available 24/7 in Online account
    • 84. EBT Systems
      Presented by: Jeff Smedley
      President/CoFounder
      Bubo
    • 85. Bubo-Works
      Marketing and Sales Optimization
      We identify, forecast and make projections as to which lead source is the most effective for your specific property
      True analytics
      Not easy, we did our research
      Bubo
    • 86. How is it done?
      Bubo
      Property/Regional data
      Economic and Geo-demographic changes
      Industry Factors & Trends
      Software integration/ Legacy data
      Bubo DB
      Contract Data
      Sales Performance
      Call Tracking
      Lead Quality
    • 87. Customer benefits
      Complete integration
      True custom analytics
      Custom dashboard reporting
      Simple real time online reporting
      By site, owner group, region or C level
      One national marketing person can now effectively manage advertising
      Buying power
      Bubo
    • 88. Why Bubo?
      Timing is everything
      Industry is changing
      Complexity is our strength
      Forward thinking
      Bubo
    • 89. Our Market
      Multi Family
      Property mgt companies
      ILS
      Effectiveness/validate
      Are you charging enough?
      Other industries
      Bubo
    • 90. Future
      Currently working on strategic partnerships with key companies within the MFH industry
      We project that we will end 2012 with revenue in excess of $1,000,000
      Project of 400 sites
      2 to 4 ILS customers
      Doubling that number in 2013
      Bubo
    • 91. Why choose us
      “…The ability to take data—to be able to understand it, to process it, to extract value from it, to visualize it, to communicate it—that’s going to be a hugely important skill in the next decades”.
      Hal Varian, Google’s Chief Economist
      By looking into the future rather than operating in the past, EBT will change the way decisions are made for innovative companies readying for a Brave New World in the MultiFamily industry
      Bubo
    • 92. Evaluation Criteria
      Is this a valuable tool
      Did You understand how they work
      Worthy of Investment
    • 93. Text Your Vote (Once)
      • Text choice of keyword to 47368 (4RENT)
      • 94. AptGrade (for ApartmentGrade.com)
      • 95. EBT (for EBT Systems)
      • 96. RentMine (for RentMineOnline.com)
      • 97. RentPing (for RentPing)
      • 98. ResGifts (for ResidentGifts)
      Voting closes at 7PM today!
      Winner announced Tuesday at 12PM
      One vote per cellphone