Cutting Through the Clutter - Marketing Planning for Multifamily

AIM 2010 Cutting Through the Clutter: Making an Effective Simple Marketing Plan Donald Davidoff Archstone Jane Griffith Pinnacle AIM 2010 Lauren McDonald Bozutto

Some Fundamental Truths (whether you like it or not )
You don’t have unlimited time
You don’t have unlimited money
You don’t have skill at all facets of marketing

So what do I do?
Focus (“it’s OK to not be doing everything”)
What’s your product?
Who’s your audience?
What are your vehicles?
Leverage existing (& develop new) vendor relationships (“why do all the work yourself?”)
Make the tough trade-offs
Prospect vs resident
Transactional vs brand
“ Free” vs “Fee”
Traditional vs emerging

The 3 most important things in marketing?
Measurement
Measurement
Measurement

Develop a roadmap
Build on your successes
Press the bets that work
“ Right size” the mediocre
Reduce cost or increase results
Ditch what’s not working
Have the courage to let projects die and vendors go
Monitor what you’re unsure of
Know your priorities
What’s an acceptable CPL?
How do you choose to measure “brand” (aka “relationship”) marketing?
“ Take the best and leave the rest”

Website
ILS
Traditional
Craigslist
New entrants
“ Social media”
Facebook, Twitter, et al
Reputation Management (Yelp, ApartmentRatings, et al)
Blogging
Point of Sale
Leasing Center
Models
Door hangers, etc
So Much to Choose From

Start with the workhorses that have proven delivery:
Craiglist
ILS
Prioritize by CPL
Leverage tools from vendors
An Organized Model

Don’t ignore your point of sale environment
An Organized Model

Finish out your “base” with a great website
Great images
– Easy to search
– Map functionality
– Easy to contact community
An Organized Model

More and more people are
searching through map
functionality (Google Local,
Yahoo Local, etc.)
An Organized Model

Make it easier for your residents
to do business with you and connect
with their neighborhood
An Organized Model

Follow up regularly with your existing prospects
An Organized Model

Do you have a Yelp and ApartmentRatings strategy?
It’s about customer service FIRST
Marketing effect is a result, not a strategy
An Organized Model

Mobile is the “next big thing”
Still just 3-9% of current searchers
Fastest growing segment
An Organized Model

Round out your marketing with a social media program
This area is least mature and therefore most ripe for “testing”
An Organized Model

An Organized Model
Drive your decisions with data and a CPL focus

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Cutting Through the Clutter - Marketing Planning for Multifamily

by Joshua Tree Internet Media, LLC on May 04, 2010

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Cutting Through the Clutter - Marketing Planning for Multifamily — Presentation Transcript