1600 VINE 2014 Strategic Marketing Presentation
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1600 VINE 2014 Strategic Marketing Presentation

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1600 VINE 2014 Strategic Marketing Presentation 1600 VINE 2014 Strategic Marketing Presentation Presentation Transcript

  • 1600 VINE 2013/2014/2015 STRATEGIC PLAN 1
  • 1600 VINE VISION STATEMENT • The team of 1600 VINE seeks to position the property as an industry leader in value and luxury. Furthermore, our team strives to dramatically differentiate the community as a distinct Hollywood destination, with unparalleled connection to hollywood leaders and Entertainment Industry companies and organizations, collaborating to provide ideal living and event space for the industry’s professionals, and together, impact critical causes that affect the community. 1600 VINE will have recognizable and unique marketing initiatives, effectiveness measured by walk-in traffic, word of mouth referrals and social network growth, that will include Hollywood business outreach and promotional collaborations with Entertainment Industry Studios and professionals to include event and experiential marketing with a strong focus on public relations. • The goals of the community will be considered successfully achieved when 1600 VINE is established at the top third of the market for luxury Hollywood living, growing rent by 9-11%, while maintaining a physical occupancy above 94%, except in critical period months [FY Q3] where a minimum of 95% will be mandatory, maintaining 50% resident retention and reach our average weekly traffic goals of 18 tours per week with 14 new leases per month. 1600 VINE seeks to establish a minimum of one unique Hollywood event per quarter that increases word of mouth, walk-in/drive-by and website traffic to its peak. 2
  • 1600 VINE MISSION STATEMENT • INTERNAL MISSION STATEMENT • At 1600 VINE, we are passionately committed to building a home and a community for our Residents. We aim to be the leader in our industry, delivering exceptional, personalized, star-quality service by treating everyone ethically, professionally, respectfully, responsively, supportively and with grace. We aim to work together to always improve our internal home environment and to lead the community with positive social impact. 3
  • 1600 VINE VISION STATEMENT • The Property will utilize the foundations of our Internal Mission Statement to dramatically elevate the customer experience for our current Residents, establishing valuable relationships and building programs and services, only found at 1600 VINE. Star-quality service will also be the focus of our Prospective Resident Sales Presentations, as we strive to achieve 20% call to tour conversion and 25% tour to rental conversion, with new and improved technology for online and phone presentations, and stunning printed and digital branded collateral to build the community prestige and credibility. 4
  • PROGRESS SNAPSHOT GOALS BY THE NUMBERS FOR FY 2013/2014 [JULY-MID OCTOBER] Goal Actual 95% physical occupancy 94.5% physical occupancy 50% renewal rate 49% renewal rate Renewal Rent Growth 9-11% 7.6% New Lease Rent Growth 11-13% 13% 25% Rental Conversion of Tours 12.5% Rental Conversion of Tours 14 Net Leases Per Month Average 9.25 Net Leases Per Month Average 18 Tours Per Week 20 Tours Per Week 1,000 Web Visits Per Week 1,137 Web Visits Per Week 339 New Prospects Per Month 371 New Prospects Per Month Budget: $53,145.98 Actual: $42,283.11 $600/Lease/Renewal $522/Lease/Renewal NOI Goal $1,311,253.26 NOI Actual $1,283,775.53 REMAINING MARKETING FY BUDGET = $164,910.77 5
  • ANALYSIS OF CURRENT STANDINGS • Taking a look at the Goals by the numbers, the property has met many significant goals, such as the occupancy goals, retention goals, traffic production goals and we have not exceeded our budget. Our renewal growth was steadied over the summer months to compensate for our delays in construction and looking to keep our retention percentage up. • NOI is being addressed with focus to lease our 3 Bedroom Units and to adjust our availability by fully utilizing all units that were previously held for storage or temporary construction solutions. • The most significant concerns are in the conversion rates of converting our traffic to leases and securing enough Net Leases. These goals will be addressed in the following pages. 6
  • MARKET CONDITIONS • 94.93% Physical Occupancy • 96.27% Leased Occupancy • Market Rents For Available Units • Studio: $2,332 - $2,816 • 1 Bedroom: $2,491 - $2,924 • 2 Bedroom: $3,072 - $4,191 • 1 Bedroom Townhome: None on Market • 2 Bedroom Townhome: $3,551 - $6,485 • 3 Bedroom Townhome: $11,700 - $12,500 7
  • MARKET SURVEY ANALYSIS Property 09/13 09/13 Physical Leased Occupancy Occupancy STUDIO 09/2012 Average $Effective Rent/SF STUDIO 09/2013 Average $Effective Rent/SF 1 BR 09/2012 Average $Effective Rent/SF 1 BR 09/2013 Average $Effective Rent/SF 2 BR 09/2012 Average $Effective Rent/SF 2 BR 09/2013 Average $Effective Rent/SF TH 09/2012 Average $Effective Rent/SF TH 09/2013 Average $Effective Rent/SF Sunset 95% Vine Tower 100% NA NA $4.17/sq. ft. $3.98/sq. ft. $5.82/sq. ft $4.93/sq. ft. $5.96/sq. ft. $6.06/sq. ft. Hollywood Tower 98% 96% $4.19/sq. ft. $4.00/ sq. ft. $3.84/sq. ft $3.84/sq. ft. $2.86/sq. ft. $2.86/sq. ft. $4.28/sq. ft. $4.66/sq. ft. 7950 Sunset 94% 97% $3.93/sq. ft. $3.64/ sq. ft. $3.62/sq. ft. $3.34/sq. ft. $3.02/sq. ft. $3.02/sq. ft. $3.20/sq. ft. $3.19/sq. ft. Rubix 92% 94% $3.25/sq. ft. $3.25/ sq. ft. $3.04/sq. ft. $3.02/sq. ft. $2.77/sq. ft. $2.23/sq. ft. $2.85/sq. ft. $2.78/sq. ft. Jefferson 92% 95% NA NA $3.07/sq. ft. $2.78/sq. ft. $2.77/sq. ft. $2.58/sq. ft. $2.74/sq. ft. $2.71/sq. ft. The Avenue 93% 97% $2.92/sq. ft. $2.92/ sq. ft. $2.97/sq. ft. $2.97/sq. ft. $2.70/sq. ft. $2.82/sq. ft. $3.55/sq. ft. $3.50/sq. ft. 1600 VINE 95% 97% $2.65/sq. ft. $3.18/ sq.ft. $3.09/sq. ft. $3.53/sq. ft. $2.64/sq. ft. $2.79/sq. ft. $2.65/sq. ft. $2.73/ sq. ft. Sunset & Vine 94% 97% $2.41/sq. ft. $2.70/ sq. ft $2.67/sq. ft. $2.70/sq. ft. $2.35/sq. ft. $2.43/sq. ft. $2.86/sq. ft. $2.86/sq. ft. +$0.53/SQ. FT. +$0.44/SQ. FT. 8 +$0.15/SQ. FT. +$0.08/SQ. FT.
  • RENT REVENUE SUMMARY Available Rent Average Month Occupied Rent Average (Occupied Units at Lease Rent) (Occupied Unit at Lease Rent & Vacant Units at Zero Rent) 07/12 $2,449 $2,266 08/12 $2,457 $2,305 09/12 $2.473 $2,319 10/12 $2,502 $2,367 11/12 $2,518 $2,321 12/12 $2,534 $2,249 01/13 $2,561 $2,325 02/13 $2,559 $2,362 03/13 $2,566 $2,388 04/13 $2,586 $2,377 05/13 $2,616 $2,437 06/13 $2,640 $2,420 07/13 $2,640 $2,420 08/13 $2,673 $2,441 +$224 +$175 9
  • BUDGET FY 2013/2014 ACTUALS TO BUDGET 10
  • MARKETING TACTICS 2013 • Renovation • The 1600 VINE renovations have been a priority focus of the marketing message for 2013. Renovation brochures were created to highlight the upgrades that were scheduled for the community and a new leasing brochure, printed in May 2013, replaced the original 1600 VINE materials and called out the new and improved features and benefits of the community. • 4 photo shoots were arranged at the property to capture the latest upgrades as they arrived • January, February, July, and November 2013 • ILS advertisement listings highlight the “All New” aspects of the community • Results • • We see spikes in Tours Per Week (see graph on page 12) - on the weeks we launch new photography of the community/unit renovations - images fed to IlS listings, Craigslist, website, Yelp, mobile and social • Contributing Correlation to increase in traffic (see graph on page 13), walk-in traffic (see graph on page 17) for the 2013 months of January, February, and August. • • Unit Value Increased (see pages 6 & 7 for summary) Contributing Correlation to increase in Yelp views (see graph on page 21) for the months of January, February and August What Didn’t Work • Timeline - Marketing was greatly delayed with the progress of program and event implementation, due to many construction stalls and changes. For example - a summertime pool-side bar series was planned for 2013 that had to be cancelled, along with rooftop and dog park events for the same reason. In addition, marketing materials were pushed to later and later in the schedule, as finished amenities are needed for photography & video purposes before finishing the community rebranding. 11
  • MARKETING TACTICS 2013 • Website • The 1600 VINE website was fully redeveloped by DZAP in December 2012, for the purpose of hosting new information, showcasing the newly redesigned 1600 VINE branding and to allow for new technology integration. • 3D floorplans were created to show, in photorealistic quality, the upgraded finishes that create the refined Hollywood Homes that we now represent • Revised formatting launched for the website in July 2013 to reformat the viewing of the website to additional web browsers • Marketing and Management have worked together to launch integrations with Property Solutions, Lead Tracking Solutions, Lexis Nexis, 3D Floor Plans, DZAP and Premiere Concierge to improve the online sales presentation for new and current clients of 1600vine.com. • Results • A strong correlation is seen in a dramatic increase of traffic tracked by Google Analytics (see graph on page 16) after the initial launch of the new site • A contributing factor to the increase in website traffic in July was the reformatting of the current website • • July 2013 hosted 1,203 more website visits than July 2012 What Did Not Work • Timeline - Integrations have experienced delays in roll-out, due to a number of factors, including contract negotiations and technical complications within integrations and execution of services and design. The website is currently undergoing the transition to PSI to offer online pricing, availability, application screening and a more developed event page and resident portal. 12
  • MARKETING TACTICS 2013 • Resident Services & Retention • Resident Savings & Service.com was launched the second week of July 2013 at 1600 VINE, tied to the soft opening of our new fitness center • Through September the following usage was reported: • Average number of concierge requests per week = 12.08 • Goal to increase usage to 30 requests per week in FYQ3 through promotion of services via campaigns and Management Team involvement • Onsite Concierge has become a face for the Resident Services program, including package claiming and service requests. - Looking to involve concierge more in Resident Event Planning and Communications. 13
  • CRITICAL PERIOD RENEWAL SPECIALS LAUNCH OF RESIDENT LOYALTY CARE PROGRAM HEART OF CONSTRUCTION DELAYS AND DISSATISFACTION RESIDENT RENEWALS VS. NOTICES STRIVING TO EXCEED 50% RETENTION 14
  • LEASE-UP PRICING & ADVERTISING INCREASED ADVERTISING & PR SPENDING/EFFORTS & 3 PROPERTY PHOTO SHOOTS CRITICAL PERIOD SPECIALS PRICE INCREASES & CONSTRUCTION BEGIN CRITICAL PERIOD SPECIALS & NEW MODEL HOME PHOTOGRAPHY TWO YEAR TRAFFIC PATTERN TOTAL INCOMING TRAFFIC TRACKED PER MONTH 15 DECREASED ADVERTISING & ADDED ONLINE PRICING INFORMATION
  • ALL NEW PROPERTY PHOTOS ON CRAIGSLIST & ILS SITES AFFORDABLE HOUSING SKEW CRITICAL PERIOD SPECIALS & 2 NEW PHOTOGRAPHY SHOOTS DWELL ON DESIGN HOME TOURS INCREASED ADVERTISING & PR SPENDING/EFFORTS & 3 NEW PHOTO SHOOTS INCREASED ADVERTISING DECREASED & SOCIAL ADVERTISING & ADDED ONLINE PRICING INFORMATION TOURS BY WEEK UNIQUE TOURS AS RECORDED IN OUR DAILY REPORTS. GOAL = 18 TOURS/WEEK 16
  • PRICE INCREASES & CONSTRUCTION BEGIN CRITICAL PERIOD SPECIALS OFFERED. RESIDENT REFERRAL INCREASE. INCREASED ADVERTISING & PR SPENDING/EFFORTS REVLON RUN, DWELL, MADE IN HOLLYWOOD NEW WEBSITE LAUNCHED. REVIEW OF INCOMING TRAFFIC HOW AND WHEN OUR UNIQUE PROSPECTS ARE REACHING US 17 DECREASED ADVERTISING & ADDED ONLINE PRICING INFORMATION
  • PRICE INCREASES & CONSTRUCTION BEGIN INCREASED ADVERTISING & PR SPENDING/EFFORTS REVLON RUN, DWELL, MADE IN HOLLYWOOD CRITICAL PERIOD SPECIALS OFFERED. RESIDENT REFERRAL INCREASE. DECREASED ADVERTISING & ADDED ONLINE PRICING INFORMATION NEW WEBSITE LAUNCHED. SCHEDULING TOURS OVER THE PHONE NOTING THE IMPORTANCE OF CONVERTING TRAFFIC 18
  • INCREASED ADVERTISING & PR SPENDING/EFFORTS + DWELL, MADE IN REVISED-FORMAT HOLLYWOOD WEBSITE REFINED SEO CAMPAIGN. LAUNCHED. POST-EMMY MADE IN HOLLYWOOD PR ADDED STARTING DECREASED PRICES ADVERTISING NEW WEBSITE LAUNCHED. INCOMING TRAFFIC TO 1600VINE.COM TRACKING TOTAL VISITS AND UNIQUE VISITORS 19
  • Average Daily Website Visits Per Month July 2012 - October 2013 REVISED-FORMAT WEBSITE LAUNCHED. NEW WEBSITE LAUNCHED. WEBSITE VISITS DAILY AVERAGE BY MONTH VIEWING TRANSITION TO NEW WEBSITE CAPABILITIES 20
  • 06/01/2012 - 10/31/2013 CRITICAL PERIOD SPECIALS OFFERED. RESIDENT REFERRAL INCREASE. INCREASED ADVERTISING & PR SPENDING/EFFORTS REVLON RUN, DWELL, MADE IN HOLLYWOOD INSTALLATION OF OUTDOOR MARKETING W/ TRACKING # DECREASED ADVERTISING & ADDED ONLINE PRICING INFORMATION SUMMER REFERRAL PROMOTION WALK-IN/DRIVE BY, WORD OF MOUTH & RESIDENT REFERRALS UNIQUE TRAFFIC LEADS PER MONTH 21
  • PAID ADVERTISING INCOMING TRAFFIC REVIEWING PROSPECTS CREATED FROM LEAD TRACKING SOURCES 22
  • SOCIAL MEDIA MARKETING • Social Media • 2,470 Facebook Fans, 3.5 Rating out of 28 Reviews • 254 Twitter Followers • 106 Instagram Followers • 9 in Google+ Circle with 15 Public Recommendations • 69 Pinterest Board Followers combined with 209 Followers from Board Collaborators • 575 YouTube Video Views of Uploaded Content • 9,521 YouTube Video Views of ILS Created Videos • 2.5 Star Rating on Yelp after 32 Posted Reviews • 3 Google Reviews = 2 4-Star Ratings & 1 2-Star Rating • Over 150 Photos of 1600 VINE on social media tagged by Residents/Fans • View on Facebook in “1600 VINE Fan Photos” 23
  • UTILIZING FACEBOOK’S NEW ADVERTISING OPTIONS INTENTIONAL SLOW GROWTH W/DEVELOPMENT DELAYS FULL SOCIAL INTEGRATION ADVERTISING & CRAIGSLIST POST INTEGRATION TOTAL NUMBER OF FANS PER WEEK REVIEWING GROWTH OF SOCIAL FOLLOWING 24
  • 2 ABOVE 3 STAR REVIEWS Yelp User Views Vs. User Actions 01/01/12 - 10//31/13 4 BELOW 3 STAR REVIEWS BEGAN PAID, MONTHLY YELP BUSINESS ACCOUNT ONLINE REVIEWS & VIEWS REPUTATION MANAGEMENT & EFFECTS ON INCOMING TRAFFIC 25 REVIEWING EFFECTS OF CRAIGSLIST CHANGES TO MOBILE TRAFFIC
  • NEW PHOTOS NEW PHOTOS POSTED 198 ADS SPECIAL PRICES POSTED 58 ADS THIS WEEK POSTED 194 ADS POSTED 207 ADS POSTED 163 ADS POSTED 204 ADS NEW PHOTOS NEW PHOTOS POSTED 225 ADS SPECIAL PRICES POSTED 205 ADS SPECIAL PRICES POSTED 163 ADS POSTED 92 ADS POSTED 164 ADS POSTED 177 ADS POSTED 55 ADS POSTED 151 ADS POSTED 131 ADS POSTED 122 ADS CRAIGSLIST POSTING SUCCESS 26
  • MARKETING TACTICS • Convert More Leads - Sales Presentation Enhancement • Website Capabilities Enhancement • • • • • PSI Integration for online pricing and availability Lexis Nexis Integration for online applications Resident Portal with Lobby Display for High-Tech enhancement of Resident Services Addition of newly formatted Events page on 1600vine.com Leasing Tablets • PSI Site Tablet • • • • Offering cool, interactive capabilities to showcase floor plans layouts with furnishings and our 3D photo realistic tours Digital Guest Cards on the go Applicants can apply online on the tablet while leasing consultant completes move-in paperwork Sales Training • Legacy Partners to lead training initiatives to meet the following goals • • • • Minimum of 40 Craigslist Advertisements posted per week Leasing consultants acquiring 75% of Prospective Residents’ Email Addresses Minimum call time of 2 minutes for majority of traffic Converting 20% of phone traffic to tours, Converting 25% of tours to leases 27
  • MARKETING TACTICS • Retain Our Residents • Creating the Luxury Lifestyle • Residents will be treated to special touches in their home. Residents will be delighted with fitness classes, unique events and star-quality services. • • • • Yoga Class hosted by YogaWorks 2 nights per week • • • Zipcar Membership Specials & a fleet of wheels when they need them Hollywood Mobile Dog Grooming on-site service once a month Special Surprises for Residents at Concierge Desk during Rent Week Planned/Scheduled, Monthly Resident Events promoted on Monthly Calendars available on Rent Week Electric Car Charging Stations High-Rise Poolside Bar & Cafe • • Primetime Happy Hours • • Poolside cocktails & appetizers available exclusively to 1600 VINE Residents and guest each Sunday, Noon-4 PM, May through September. Fall Cocktail Mixers - partnered with Restaurant Tenant - discounts offered to Residents between 7-9 with onsite marketing presence from 1600 VINE - “Ask your server how you can receive Primetime Happy Hour Specials” Through the use of a new CMS System (PSI) and an online concierge program (residentsavingsandservice.com), our team will seize the opportunity to reach our Residents on new fields of communication to keep our Residents informed and engaged. Leasing consultants will make the effort to obtain all incoming and Renewing Resident contact information while marketing and concierge work to build the current resident database with the goal to have 75% of our Residents enrolled in the digital portals. 28
  • MARKETING TACTICS • ADVERTISING • Building a reputation for star-quality service and products for A-list Clientele • It is identified that Marketing will be understaffed during the critical investment period, due to family leave. As a commitment to producing the volume of traffic needed during this absence, Marketing will establish a solid and aggressive advertising campaign to run November-March in a selected variety of publications in print and online to increase exposure during the historically slow season and to build the branding strength of our community during the critical period. • ILS/Paid Advertising will be increased to cover not only Hollywood Renters but those looking in the greater Los Angeles Metro. All advertisements will list starting prices to avoid a heavy saturation of unqualified traffic. apartment Guide, ForRent and Apartment Finder have been identified as producing the highest volumes of qualified traffic for our community and therefore we will be utilizing spotlight features online/mobile from the advertising vendors. 29
  • PAID LISTING ADVERTISEMENTS LOW HANGING FRUIT - REACH THE RENTAL SEEKERS IN LOS ANGELES 30
  • VARIETY MAGAZINE CAMPAIGN DECEMBER - JANUARY 31
  • MARKETING TACTICS • ADVERTISING • Building a reputation for star-quality service and products for A-list Clientele • Brand Marketing to the Entertainment Industry will be focused on an ad campaign with Variety Magazine. Select Issues have been chosen for their pull in the entertainment industry and the amount of eyes that will be glued to its pages. • • January 14 - 2 Full Page - Variety Winter Real Estate Guide/Showbiz Real Estate Elite Report - Full Page Ad Purchase comes with a full page of advertorial and will run as a 2 page spread with an included editorial. Coincides with SAG Award coverage. • • December 18 - 1 Full Page - Ultimate Award Season Voting Guide (Academy Awards, Golden Globes, SAG, DGA and more), a focus on Foreign Films as well - 80,000 Circulation - 40,000 plus bonus mailings to AMPAS< SAG NOM Com, HFPA, BAFTA. With Bonus distribution to the top 100 entertainment industry-preferred hotels & resorts around the world January 21 - 1/2 Page - Grammy Issue - Profile the 56th Grammy Awards - The Recording Academy’s premiere outlet for honoring achievements in the recording arts and supporting the music community. Bonus distribution to members of the Academy Motion Pictures Arts & Sciences, Hollywood Foreign Press Association and the DGA awards, and in the limos to the Grammys and select Hotels. Campaign Costs = $5000 in advertising, $500 in design 32
  • MARKETING TACTICS • Expand Market Reach - Brand Establishment & Positioning • • Exterior Signage Completion - Capital Budget Project Lifestyle Marketing • • • Collateral Rebranding Package - Capital Budget Project Photography & Video Tours - Capital Budget Project Eliminate Buyer’s Remorse • • • Reducing Cancellation & Decline Rates Enhancing the Move-In Experience Showcase the Lifestyle - Experiential Marketing • • On The Vine Cocktail Series • Taste the Suite Life Event • Made In Hollywood Awards • • Dwell On Design Charity Events on the Heart Of Hollywood Terrace Our investment in marketing will first be to cast a wider net. The property will invest in rebranding signage on the exterior of the community and along the traffic path to the leasing office. Simultaneously, we will add marketing dollars and add our pricing range to our paid advertising listings and sources, providing a better map for our qualified traffic to find us. In addition to paid advertising sources, we are increasing our exposure to our target demographics through the development of Klein Financial Corporation’s branded Programs, Social Media Initiatives and with the use of Strategic Marketing Events and Promotions. 33
  • EXTERIOR SIGNAGE $105,000 CAPITAL BUDGET - REBRANDING & ADDITION OF PARKING SIGNAGE IF CITY WILL PERMIT 34
  • ELIMINATE BUYER’S REMORSE • July 2012 - October 2013 = 62 Cancellations (see graph on page 33) • High Price Point for Rent - Top of Our Market • Selling Value Of Product - Showcasing Lifestyle • Goal = Reduce Cancellations by HALF • Ease of Application - Have them apply and screened while they are in the office • • Online application via tablet - online screening • • Money Orders available for purchase onsite Print Bank Statements while at site Move In Process • We invest in you the minute you invest in us! • Move-In Packets prepared on deposit drop date • Move-In Folder with New Move-In Materials - YOUR HOME IN HOLLYWOOD - with all the reasons to LOVE Living in Hollywood and 1600 VINE! • Once Approved - we provide their Move-In Gift and Welcome Our Newest Resident in a Celebratory Fashion “Pack Your Bags! Move Up! Move In!”- Present Move-In Gift Bag • Email Follow-Up Series for Move-In Checklists, Reminders, and Local Hollywood Offers 35
  • 11 DECLINES 3 CANCELS 2 DECLINES 4 CANCELS 3 DECLINES 10 CANCELS 0 DECLINES 3 CANCELS 5 DECLINES 2 CANCELS 2 DECLINES 2 CANCELS 3 DECLINES 4 CANCELS 1 DECLINE 2 CANCELS 0 DECLINES 4 CANCELS 4 DECLINES 6 CANCELS 1 DECLINES 5 CANCELS 3 DECLINES 3 CANCELS 1 DECLINE 4 CANCELS 0 DECLINES 3 CANCELS 0 DECLINES 3 CANCELS 4 DECLINES 4 CANCELS OBSERVING DECLINES & CANCELLATIONS IN CURRENT FISCAL YEAR = 4 DECLINES & 14 CANCELLATIONS 36
  • PACK YOUR BAGS! MOVE-IN GIFT GOAL OF REDUCING CANCELLATION RATE BY 50% - NEW LEVEL OF WELCOMING! 37
  • LIFESTYLE MARKETING BRINGING “LIFE” TO OUR COMMUNITY 38
  • LIFESTYLE MARKETING • Not only the Home to Hollywood, but the PREMIERE rental residences in Los Angeles, CA • All collateral materials should reflect the goals to position 1600 VINE in it’s rightful place, as the premium Hollywood residence. • HOME TO HOLLYWOOD • NEW Hollywood - Young, Fun & Wealthy • Target Demographic • Mid 20’s - Mid 30’s • Young Professionals working in Entertainment • Trust-fund recipients from outside of LA & US • Sexy - Energetic - Driven 39
  • MARKETING VOICE & AUDIENCE • It is important that the community reflects a sustainable culture of cool, offering gorgeous common spaces where Residents may host meetings, casting calls and parties, while providing the highest value in Resident services including a quality, luxury living space where Residents feel proud and provided for in their homes, resulting in longer lease terms and higher renewal rates. • 1600 VINE is a hub of Hollywood-style entertainment, busy urban commuting and a collection of young, driven professionals and ambitious singles, like the property itself, looking to be noticed through the noise of L.A. Our key demographics include young, single, networking professionals and image conscious Hollywood-LifestyleSeekers successfully working their way through the industry, and established entrepreneurs cutting their commutes or working remotely from home. 40
  • LIFESTYLE MARKETING • Rebranding Collateral Package $25,000 • Design & Production of 2 Pocket Folders, 3 Sell Sheets, Promotional Poster/trifold and Gorgeous Glossy Brochure • Digital Brochure for website and Flash-drive Business Cards • Magnets to include all contact information for various Resident Service Lines • Lifestyle Media Package $3,500 • Production of full property Video Tours, Full-Community Photo Shoot, including Creative Director, Models, Wardrobe, Photographer, Videographer, Editing, and rights to materials. 41
  • LIFESTYLE COLLATERAL REBRANDING BROCHURES, POSTERS, FOLDERS AND DIGITAL 42
  • LIFESTYLE COLLATERAL REBRANDING BROCHURES, POSTERS, FOLDERS AND DIGITAL 43
  • LIFESTYLE COLLATERAL REBRANDING BROCHURES, POSTERS, FOLDERS AND DIGITAL 44
  • LIFESTYLE COLLATERAL REBRANDING BROCHURES, POSTERS, FOLDERS AND DIGITAL 45
  • LIFESTYLE COLLATERAL REBRANDING BROCHURES, POSTERS, FOLDERS AND DIGITAL 46
  • EXPERIENTIAL MARKETING HOLLYWOOD LIFESTYLE EVENT MARKETING 47
  • EXPERIENTIAL MARKETING • Dwell Labs Suites • June 2013 & 2014 • • • For the first time ever, apartment homes were feature on the Dwell on Design - Designer Home Showcase, wherein 8 units were professionally designed, upgraded and staged to be host to a City of Los Angeles Recognition Press Event, Home Tours, Blogger Tours and Broker event. These units, from 1600 VINE and Met Lofts were featured in the October Issue of Dwell Magazine and through advertising spots in the July/August issue, the Dwell on Design Event Program and Dwell Designer Home Showcase Map Booklet. For 2014 - Reducing to 1-2 Suites - Looking to partner with Dwell to produce for Television 1600 ON THE VINE • An event to bring in the traffic who would live here! Marketing’s approach to truly unique opportunities for 1600 VINE. Event Series (August- October 2014), has been created for the purpose of building something incredibly unique for the property to become known for to the influential target audience of the Hollywood Elite Young Professionals. Cocktail Social Networking Series, where young industry professionals meet, flirt, party, network and get to meet their Hollywood Idols. Marketing to establish event partners and sponsors with guidance from the Entertainment Industry Foundation’s connections and within the VIP Hollywood network. Event promoted as a seasonal series, each offering unique guest speakers, varied topics and a variety of sponsored entertainment and freebies. Fresh cocktail inspired to play on the “vine” aspect of our name and utilize the branded logo. Looking to partner with NetParty, whose LinkedIn Group consists of 23,559 members, Facebook has 9,423 Likes and 1,917 LA Group Members. This company utilizes an App to promote their events to members, providing a tool to spread the word. 48
  • EXPERIENTIAL MARKETING • Made In Hollywood Awards • August and February Annually with the Hollywood Chamber of Commerce and City of LA • • Hollywood Chamber Event - February - Ribbon Cutting Ceremony for the New 1600 VINE and New Restaurant Tenant • • The event kick-started by Guttman Associates for “The Artist” has found a new home on the 1600 VINE Heart of Hollywood terrace. The original event, hosted on August 15, was covered by over 600 media outlets in total through multiple press releases. 1600 BINE seeks to build a Hollywood legacy with this award ceremony and truly unique marketing avenue, and will continue to host the event every August & February to tie into Award Seasons for film and television. Ceremony and Tours at 1600 VINE with lunch following at Restaurant EIF Revlon Run • May 2014 • The Tote Bags were extremely popular at last year’s event, but we did not see a significant return from their distribution. • Creating a Fun Hollywood-Starlet -themed Photo opportunity where participants can use Hollywood Props to capture memories from the day - Wigs, Boas, Glasses, Movie Props and a 1600 VINE Background and branded photo “Home To Hollywood” that makes a big Hollywood Sign in the background to take the picture with • • “1600 VINE Proudly Supports The STARS of the EIF Revlon Run” • Giveaways will include the photos, along with a brochure and branded Hollywood Sunglasses Participants will prepare for their photos in front of mirrors that say “Action!” “Ready for your close-up!” “Fabulous Hollywood Starlet!” and “Your Hollywood Story Begins Now!” 49
  • TIMELINE & ACTION PLAN MARKETING STRATEGY 2014+ 50
  • OCTOBER 2013 • • Focus: Pushing Retention and Resident Satisfaction - Addressing 3 BR TH Vacancy Resident Retention • Event • • • Octoberfest Grilling Class - October 6 ($600) 25 in attendance - great online exposure with event photos Renewals • • • 7-9% Increase Resident Loyalty Program Good Will • • • Yoga Classes 150 Candy Apples given away at Rent Collection ($450) Outreach Marketing • Post-Emmy’s, Made In Hollywood Press Release • • • • • • Exposure in over 300 online publications for 1600 VINE as location Modified SEO Campaign through DZAP Increased Facebook Advertising = 658 Fans MLS Advertising For Broker Event & 3 BR THs Variety.com/real-estate Advertising [3 BRs] Budget = $19,776.66 51
  • NOVEMBER 2013 • • Focus: Pushing 50% Retention & Building Conversions Through Slow-Season Resident Retention • Hollywood For the Holidays Campaign • • • Resident Loyalty Program directed by Tom and Leasing Team 300 Blue and White Candy Canes will be purchased and distributed during rent collection Yoga Classes Select Collateral Designer and Production Company Outreach Marketing • Broker’s Open Event • • • • • • • 7-9% Increase Good Will • • • • Banners Up November 22 - Resident Survey Offer Renewals • • • Holiday Cards sent out November 22 - Resident Event December 1 Variety.com/real-estate advertising, MLS Advertising, 500 Mailer Campaign Outreach to Hollywood U Graduate and Performance Degree Programs for Housing Listings Modified SEO Campaign through DZAP Increased Facebook Advertising = 387 Fans Mid November Apartment Guide Mobile Spotlight ForRent.com Mobile Select, Apartment Finder Budget = $16,626.66 52
  • DECEMBER 2013 • • Focus: Resident Retention and Building Conversions During Slow Season Resident Retention • Hollywood For the Holidays Campaign • • • • Hollywood For the Holidays Survey and Prize Giveaway Offer ($450) Modani Penthouse Exclusive Event on December 10 - Penthouse Clients Invited & Guests ($400) Renewals • • • Resident Holiday Party - December 1, 3-5 PM, Followed by the Hollywood Christmas Parade and 1600 VINE After-Party at St. Felix ($4000) 7-9% Increase Resident Loyalty Program directed by Tom and Leasing Team Good Will • • • • • • • • “Thankful” cards and candies from Maintenance team upon fire alarm inspection period. ($150) Yoga Classes Launch of Email Move-In System in LTS Sign Contracts for Exterior Signage Contracts Variety Ads Designed Move-In Folders Designed Outreach Marketing • • • • Chocolate Bars with Resident Referral Offer ($150) Modified SEO Campaign through DZAP Apartment Guide Mobile Diamond, ForRent.com Mobile Select, Apartment Finder Eblasts Variety Magazine Advertising - December 18 - Ultimate Award Season Voting Guide Budget = $23,026 53
  • JANUARY 2014 • Focus: Resident Retention (34 Lease Expirations) and Maintaining 95% Occupancy - CONVERTING TRAFFIC • Love Your Home In Hollywood Campaign • • • New Year’s Mimosa Brunch ($1000) Dog Park Opening ($600) Renewals • • • • 7-9% Increase Early Bird Renewal Promotion ( Good Will • • • • • • Sweet Candy Bar ($450) Yoga Classes Poo-Printing Launched Dog Grooming Service Launches Building Signage Phase 1 Finalized Outreach Marketing • Variety Magazine Ad Campaigns • • • • • • • Resident Loyalty Program directed by Tom and Leasing Team January 14 - Variety Winter Real-Estate Guide and SAG Coverage January 21 - Grammy Issue Modified SEO Campaign through DZAP Apartment Guide Mobile Diamond ForRent.com Mobile Select Apartment Finder Eblast Campaigns Budget = $21,009.66 54
  • FEBRUARY 2014 • Focus: Resident Retention (25 Lease Expirations) and Maintaining 95% Occupancy - CONVERTING TRAFFIC • Love Your Home In Hollywood Campaign • • • Resident Loyalty Program directed by Tom and Leasing Team Lottery Tickets ($250) Yoga Classes Poo-Printing Launched Love My Pet Contest - Grooming Company Sponsored Building Signage Phase 1 Installed Onsite Photography and Video of Completed Common Spaces and Lifestyle Marketing Outreach Marketing • • • • • • 7-9% Increase Good Will • • • • • • • Love Your Home In Hollywood Giveaway ($300) Renewals • • • Breakfast On The Go ($500) Made In Hollywood Awards For Film - Week of Feb. 10 on Heart of Hollywood Terrace Modified SEO Campaign through DZAP Apartment Guide Mobile Diamond ForRent.com Mobile Select Increased Social Media Advertising Budget = $17,909.66 55
  • MARCH 2014 • Focus: Maintaining 95% Occupancy & Building Community Outreach • Destination Staycation Campaign • • • 2 Smoothie Saturdays ($900) Spring Cleaning Event ($500) Renewals • • Outreach Marketing • • • • Creation of Affinity Program Packet On the Vine Outreach VIP Business Outreach Joint Chamber Event with New Restaurant Tenant - Press Release • • • • • • 7-9% Increase Ribbon Cutting Ceremony of NEW 1600 VINE Press Release - Post- Oscars if celebrating Made In Hollywood Award Winner Dwell Outreach Apartment Guide Mobile Diamond ForRent.com Mobile Select Budget = $16,109.66 56
  • APRIL 2014 • Focus: Program Establishment for Long-Term Resident Satisfaction and Rent Growth • Destination Staycation Campaign • • • May We Help You - Resident Survey & Full-Community Service Request Follow-Up ($250) Destination Staycation Giveaway ($450) Renewals • • Good Will • • • PINK Cupcakes ($450) Building Signage Phase 2 Finalized Outreach Marketing • • • • • • • • • 7-9% Increase EIF Revlon Run Event Planning & Outreach Open Heart Event Planning, Outreach & Press On The Vine Outreach Pool-Side Cafe “Lap Up the Luxury” Promotions Splash Page Finalizations Modified SEO Campaign through DZAP Social Media Advertising Apartment Guide, ForRent.com and Apartment Finder reduced packages Budget = $16,109.66 57
  • MAY 2014 • Focus: Luxury Lifestyle Marketing to Drive Rent Increases and Maintain 92% Occupancy. • Taste of the Suite Life Campaign • • • • 7-9% Increase SnoCones ($400) Building Signage Phase 2 Installed Summer Pool Cafe Photo & Video Shoot ($800) Outreach Marketing • • • • • • • • • Resident Referral Promotion ($250) Good Will • • • • Dive-In Movie Nights ($600) Renewals • • Poolside Cafe Kick-Off ($1000) 1600VINE.COM Splash Page Launch EIF Revlon Run Event - Branding Promotions Open Heart Event - Press Release Promotions Pool-Side Cafe “Lap Up the Luxury” Promotions & Advertisements Dwell Outreach & Press Modified SEO Campaign through DZAP Social Media Advertising Apartment Guide, ForRent.com and Apartment Finder reduced packages Budget = $17,925.66 58
  • JUNE 2014 • Focus: Luxury Lifestyle Marketing to Drive Rent Increases and Maintain 92% Occupancy • Taste of the Suite Life Campaign • • Dive-In Movie Nights ($600) • • Poolside Cafe LAUNCH OF VIP PROGRAM Renewals • • Goodwill • • Fireworks Watch Party ($400) Outreach Marketing • • • • • • • • • 7-9% Increase 1600VINE.com splash page promo Dwell On Design Media Day, Home Tours and Broker Event Pool-Side Cafe “Lap Up the Luxury” Promotions & Advertisements Affinity Program Outreach On the Vine Outreach & Event Planning Modified SEO Campaign through DZAP Social Media Advertising Apartment Guide, ForRent.com and Apartment Finder packages Budget = $20,575.66 59
  • JULY 2014 • Focus: Luxury Lifestyle Marketing to Drive Rent Increases and Maintain 92% Occupancy • The Endless Summer Campaign • • Dive-In Movie Nights ($600) • VIP Program Promotions • • Poolside Cafe Resident Referral Offers Renewals • • Good Will • • Branded 1600 VINE Plastic Tumblers ($350) Outreach Marketing • • • • • • • • • 7-9% Increase 1600VINE.com splash page update Pool-Side Cafe “Endless Summer” Promotions & Advertisements Made In Hollywood Press & Studio Outreach Affinity Program Outreach On the Vine Outreach & Event Planning Modified SEO Campaign through DZAP Social Media Advertising Increased Apartment Guide, ForRent.com and Apartment Finder packages Budget = $17,000 60
  • AUGUST 2014 • Focus: Building Word of Mouth and Website Traffic. Maintaining a 94% Occupancy and 60% Retention. • Endless Summer Campaign • • • • • Poolside Cafe Resident Referral Offers Sundae Bar ($400) Outreach Marketing • • • • • • • • • • 7-9% Increase Good Will • • VIP Program Promotions Renewals • • Dive-In Movie Nights ($600) 1600VINE.com On The VINE event tab launch Made In Hollywood Awards For Television On the Vine Promotions, Press and Event Kick-Off Pool-Side Cafe “Endless Summer” Promotions & Advertisements Made In Hollywood Press & Studio Outreach Affinity Program Outreach Modified SEO Campaign through DZAP Social Media Advertising Increased Apartment Guide, ForRent.com and Apartment Finder packages Budget = $22,000 61
  • SEPTEMBER 2014 • Focus: Building Word of Mouth and Website Traffic. Maintaining a 94% Occupancy and 60% Retention. • Primetime Living Campaign • • Primetime Happy Hour ($600) VIP Program Promotions • Renewals • 7-9% Increase • Good Will • Popcorn Machine ($400) • Outreach Marketing • 1600VINE.com On The VINE event tab • On the Vine Promotions, Press and Event • EIF Charity Event Drive • Primetime Happy Hour Promotions • Modified SEO Campaign through DZAP • Social Media Advertising • Apartment Guide, ForRent.com and Apartment Finder packages • Budget = $17,000 62
  • OCTOBER 2014 • Focus: Building Word of Mouth and Website Traffic. Maintaining a 94% Occupancy and 60% Retention. • Primetime Living Campaign • • VIP Program Promotions • Primetime Living Giveaway • • Primetime Happy Hour ($600) Tricks & Treats Dog Park Event ($500) Renewals • • Good Will • • Candy with Resident Referral Offer ($450) Outreach Marketing • • • • • • • 7-9% Increase 1600VINE.com On The VINE event tab On the Vine Promotions, Press and Event Primetime Happy Hour Promotions Modified SEO Campaign through DZAP Social Media Advertising Apartment Guide, ForRent.com and Apartment Finder packages Budget = $17,000 63
  • NOVEMBER 2014 • • Occupancy. Leased at 95% and Projected at 96% for December. Hollywood For the Holidays Campaign • Thankful for Our Residents Brunch ($2000) • VIP Program Promotions • Renewals • 7-9% Increase • Good Will • Candy Cane Renewal Offers ($200) • Outreach Marketing • Corporate Outreach Marketing Mailer • Dwell/ASID Outreach • Modified SEO Campaign through DZAP • Social Media Advertising • Enhanced Apartment Guide, ForRent.com and Apartment Finder packages • Budget = $14,000 64
  • DECEMBER 2014 • • Focus: Resident Retention and Building Conversions During Slow Season Resident Retention • Hollywood For the Holidays Campaign • • • Resident Holiday Party - Followed by the Hollywood Christmas Parade and 1600 VINE After-Party at St. Felix ($4000) Hollywood For the Holidays Survey and Prize Giveaway Offer ($450) Renewals • • • 7-9% Increase Resident Loyalty Program directed by Tom and Leasing Team Good Will • • • • • • “Thankful” cards and candies from Maintenance team upon fire alarm inspection period. ($150) Video - “Love Your Home In Hollywood” Testimonials ($800) 1600 VINE.com Splash Page to correspond with Variety Advertising and Increased SEO Campaign Variety Ads Designed Outreach Marketing • • • • • Chocolate Bars with Resident Referral Offer ($150) Hosting EIF Holiday Party Modified Increased SEO/PPC Campaign through DZAP Apartment Guide Mobile Diamond, ForRent.com Mobile Select, Apartment Finder Eblasts Variety Magazine Advertising - Ultimate Award Season Voting Guide Budget = $17,000 65
  • JANUARY 2015 • Focus: Resident Retention and Maintaining 95% Occupancy - CONVERTING TRAFFIC • Love Your Home In Hollywood Campaign • • • Resident Loyalty Program directed by Tom and Leasing Team Sweet Candy Bar ($450) 1600 VINE.com Splash Page to correspond with Variety Advertising and Increased SEO Campaign Launching “Love Your Home In Hollywood” videos Outreach Marketing • Variety Magazine Ad Campaigns • • • • • • • • 7-9% Increase Good Will • • • • Dog Park Event Renewals • • • New Year’s Mimosa Brunch ($1000) Variety Winter Real-Estate Guide and SAG Coverage Grammy Issue EIF - Carnegie Hall West Outreach Modified Increased SEO/PPC Campaign through DZAP Apartment Guide Mobile Diamond ForRent.com Mobile Select Apartment Finder Eblast Campaigns Budget = $19,000 66
  • FEBRUARY 2015 • Focus: Resident Retention (25 Lease Expirations) and Maintaining 95% Occupancy - CONVERTING TRAFFIC • Love Your Home In Hollywood Campaign • • • Resident Loyalty Program directed by Tom and Leasing Team Lottery Tickets ($250) 1600 VINE.com Splash Page to correspond with Variety Advertising and Increased SEO Campaign “Love Your Home In Hollywood Videos” Love My Pet Contest - Grooming Company Sponsored Photography update of Model Homes with new lifestyle models Outreach Marketing • • • • • • • 7-9% Increase Good Will • • • • • • Love Your Home In Hollywood Giveaway ($300) Renewals • • • Breakfast On The Go ($500) Made In Hollywood Awards For Film - Week of Feb. on Heart of Hollywood Terrace EIF - Carnegie Hall West Outreach Modified Increased SEO/PPC Campaign through DZAP Apartment Guide Mobile Diamond ForRent.com Mobile Select Increased Social Media Advertising Budget = $16,000 67
  • MARCH 2015 • Focus: Maintaining 95% Occupancy & Building Community Outreach • Destination Staycation Campaign • • 2 Smoothie Saturdays ($900) Spring Cleaning Event ($500) • Renewals • 7-9% Increase • Outreach Marketing • Affinity Program Outreach - Looking to Host Spring Charity Event In April/May 2015 • EIF - Carnegie Hall West Outreach • On the Vine Outreach • VIP Business Outreach • Press Release - Post- Oscars if celebrating Made In Hollywood Award Winner • Dwell Outreach • Apartment Guide Mobile Diamond • ForRent.com Mobile Select • Budget = $16,000 68
  • APRIL 2015 • Focus: Program Establishment for Long-Term Resident Satisfaction and Rent Growth • Destination Staycation Campaign • • • May We Help You - Resident Survey & Full-Community Service Request Follow-Up ($250) Destination Staycation Giveaway ($450) Renewals • • Good Will • • • PINK Cupcakes ($450) Summer Luxury Video Series ($1000) Outreach Marketing • • • • • • • • • 7-9% Increase EIF Revlon Run Event Planning & Outreach Affinity Program Event on the Heart of Hollywood Terrace - Press Release On The Vine Outreach Pool-Side Cafe “Lap Up the Luxury” Promotions Splash Page Finalizations Modified SEO Campaign through DZAP Social Media Advertising Apartment Guide, ForRent.com and Apartment Finder reduced packages Budget = $16,000 69
  • MAY 2015 • Focus: Luxury Lifestyle Marketing to Drive Rent Increases and Maintain 92% Occupancy. • Taste of the Suite Life Campaign • Poolside Cafe Kick-Off ($1000) • Dive-In Movie Nights ($600) • Resident Referral Promotion ($250) • Renewals • 7-9% Increase • Good Will • SnoCones ($400) • Outreach Marketing • 1600VINE.COM Luxury Splash Page Launch • EIF Revlon Run Event - Branding Promotions • Pool-Side Cafe “Lap Up the Luxury” Promotions & Advertisements • Dwell Outreach & Press • Modified SEO Campaign through DZAP • Social Media Advertising • Apartment Guide, ForRent.com and Apartment Finder reduced packages • Budget = $18,000 70
  • JUNE 2015 • Focus: Luxury Lifestyle Marketing to Drive Rent Increases and Maintain 92% Occupancy • Taste of the Suite Life Campaign • • Dive-In Movie Nights ($600) • • Poolside Cafe LAUNCH OF VIP PROGRAM Renewals • • Goodwill • • Fireworks Watch Party ($400) Outreach Marketing • • • • • • • • • 7-9% Increase 1600VINE.com splash page promo Dwell On Design Media Day, Home Tours and Broker Event Pool-Side Cafe “Lap Up the Luxury” Promotions & Advertisements Affinity Program Outreach On the Vine Outreach & Event Planning Modified SEO Campaign through DZAP Social Media Advertising Apartment Guide, ForRent.com and Apartment Finder packages Budget = $20,000 71