Getting the Most Out of Craigslist

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Steve Small's presentation at the Apartment Internet Marketing Conference 2009.

Steve Small's presentation at the Apartment Internet Marketing Conference 2009.

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  • 1. GETTING THE MOST OUT OF CRAIGSLIST Steve Small, CEO Yield Technologies, Inc. April 30, 2009
  • 2. Steve Small PRESENTER BACKGROUND  AMLI Residential (www.amli.com) CIO from 2000 through 2007  Owns luxury apartment communities throughout the US  Wholly owned by Morgan Stanley Prime Property Fund   Yield Technologies, Inc. (www.yieldco.com) Global management consulting and technology services  company. Focuses on various revenue management and marketing  solutions. Licenses certain AMLI technology 
  • 3. Craigslist Overview  Local classifieds and forums for 450 cities worldwide - community moderated, and largely free.  Jobs, housing, goods, services, romance, local activities, advice - just about anything really.  9 billion page views per month  #7 in terms of English-language page views.  More than 30 million people each month use craigslist, including more than 25 million in the US alone  eBay acquired 25% of the equity in craigslist from a former shareholder in August of 2004
  • 4. Ad Listing Challenges…  Our teams were spending a considerable amount of time just loading ads to the site.  It was a challenge to maintain fresh content and quality ads.  Little visibility (quantitative nor qualitative) into the success of our postings.  Lack of integration between craigslist and our enterprise software solutions (Yardi, RealPage, MRI, etc….).
  • 5. Global Perspective KEY ASPECTS  People and process first; Technology second.  Install business transparency.  Feedback business results and metrics in real-time.  Make it easy to for customers to do business with you.  Invest in your Internet presence.  Take a disciplined statistical approach to how you allocate effort and cost.
  • 6. Transforming the Enterprise YIELD OPTIMIZATION  Is it Actionable?  Is it understandable to the organization?  Can everyone participate? Yield Optimization is about actionable ways to improve marketing, product mix, customers, and business processes.
  • 7. Craigslist Initiative GOALS – BUSINESS PROCESS  Which ads are more effective in a particular market? Fancy or simple ads  Short or descriptive  More pictures or fewer  Community focus vs. unit focus   When is the best time to post?  Which product types is the market most interested in?  Measure - Deliver an in-depth analysis of ad listing statistics and metrics to prove the value of this marketing venue.
  • 8. WHICH CRAIGSLIST AD WILL SELL THE JEEP?
  • 9. Craigslist Initiative GOALS - MECHANICS  Dramatically reduce staff time required to post.  Generate consistent and high-quality ads.  Integrate with the property management applications.  Provide content management.  Make it easy – robust help, training, and deployment.  Comply with the letter and intent of craigslist Terms of Use.
  • 10. Craigslist Ad Components AN AMLI APARTMENT AD Title Template Unit Types and Specific Units Contact Information Apartment Descriptions Apartment Features/Amenities Community Descriptions Community Features/Amenities Alternate Contact Method Community Photos Unit Photos
  • 11. Craigslist Ad Components ANDY’S CONDO Title Template Unit Types and Specific Units Contact Information Apartment Descriptions Apartment Features/Amenities Community Descriptions Community Features/Amenities Alternate Contact Method Community Photos Unit Photos
  • 12. RentSentinel RentSentinel is a content management and analytics system - the User posts and enters the captcha. 3 WAYS TO POST …  Post manually using cut and paste – Traditional method used by Postlets, Vflyer, etc.  Post using self-publishing email RentSentinel creates ads and manages the self-publishing  email for the user  Post using a craigslist account RentSentinel logs the user into their craigslist account and  creates ads – no confirmation email necessary.
  • 13. Use the Content We Already Have SYNCHRONIZATION WITH MAJOR PROPERTY MGMT SYSTEMS
  • 14. Dashboard for Managing All of Your Ads
  • 15. Posting using the Ad Wizard
  • 16. You can Edit Ads before Posting
  • 17. Content Management System
  • 18. Make it Simple and Easy
  • 19. AMLI 535 FIRST MONTH RESULTS… Percentage of Month New Prospects Phone Calls Visits Total Visits January- No RentSentinel 16 5 14 23.08% February-With RentSentinel 39 9 27 47.62%
  • 20. What Days are Best to Post? AMLI 535
  • 21. Look at Views and Leads in Real Time
  • 22. What Days are Best to Post? ANDY’S CONDO
  • 23. When are our Ads being Viewed? ANDY’S CONDO
  • 24. When are our Ads being Viewed? AMLI 535
  • 25. When should we Post? AMLI 535
  • 26. When should we Post? ANDY’S CONDO
  • 27. What Products are in Demand?
  • 28. Where are our Customers coming from?
  • 29. Distance Band Report
  • 30. June 01 Release Features  Craigslist login account becomes primary posting method.  Ad timing recomendations.  Enhance ad content and building capabilities.  Syndication of additional sites: FrontDoor  Google Base  HotPads  Oodle  Trulia  Vast 
  • 31. June 01 Release Features  Amenity builder – ad editor interface to online sources describing community area amenities.  Dashboard to rank community’s success relative to the overall portfolio.  Indexed ad content – correlate success of posts to content.  Which ads are more effective in a particular market? Fancy or simple ads  Short or descriptive  More pictures or fewer  Community focus vs. unit focus 
  • 32. WHICH CRAIGSLIST AD WILL SELL THE JEEP?
  • 33. www.RentSentinel.com
  • 34. Value Proposition  Save time – create high quality craigslist ads with minimal effort.  Simple deployment – just login.  Immediate payback - De minimis cost per lead.  Create an adaptive marketing process rather than settling for a point-in-time goal.  www.RentSentinel.com
  • 35. GETTING THE MOST OUT OF CRAIGSLIST Steve Small, CEO Yield Technologies, Inc. April 30, 2009