Social Media: Embracing The Opportunities, Averting The Risks


Published on

Your residents, and the prospects you are targeting, are a lot different than they were in the past. Online social networking sites have revolutionized the way people interact with each other and gather information. Renters are talking about your communities, sharing opinions, and making referrals via social media platforms like Facebook® and Twitter™. Building and maintaining an on-going positive relationship with consumers through these marketing mediums is critical to your company’s success!

In the summer of 2010, Erica Campbell, Senior Manager New Media Marketing and Nadeen Green, Senior Counsel at For Rent Media Solutions discussed how to leverage social media and become part of the consumer dialogue. Attendees learned ways to create a customer engagement strategy through social networking sites that are within the eyes of the law and the interest of your residents and prospects!

Published in: Real Estate, Business, Technology
1 Like
  • Be the first to comment

No Downloads
Total Views
On Slideshare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide
  • social media programs aren’t based on promotions and single channel message distribution. Instead, they revolve around removing friction, noise in a crowded space and uncertainty for potential or current customers. It’s all about marketing sideways, not marketing head-on. Social is more about helping people than selling therefore its not going to deliver the volume of leads that are necessary to fill vacancies.
  • In the last 7 days
  • Social Media: Embracing The Opportunities, Averting The Risks

    1. 1. Social Media: Embracing the Opportunities, Averting the Risks. Erica Campbell, Senior Manager, New Media Marketing Nadeen Green, Senior Counsel
    2. 2. <ul><li>What is social media? </li></ul>
    3. 3. A conversation or experience shared between people, powered by technology and online tools Social: Human interaction Media: Vehicles to carry messages “ ”
    4. 4. <ul><li>Debunking myths </li></ul>
    5. 5. MYTH! Social media is free Fact: While most social media sites are free to use, the time dedicated to maintaining these efforts is not. Sites like Facebook® and Twitter® need to be updated just like print ads. You can’t just set it and forget it!! MYTH! Anybody can do it Fact: While anyone can participate in social media, you must determine your brand’s social media strategy. Who is the best person to represent the brand and implement the strategy? MYTH! Build it and they will come Fact: Social media is NOT an overnight process. It requires time and dedication. Give consumers a reason to flock to your page! This requires engaging with them on their terms. Social Media Myths
    6. 6. MYTH! Social media is all I need Fact: Social media is not meant to replace other marketing efforts, but rather complement them. It is more successful in combination with other media (e.g., print, mobile marketing, text messaging, web site, email marketing). MYTH! Social media is just for young people Fact: The average age of Facebook users is 33 and women in their 40’s are the fastest growing segment. Determine your demographics and find them in the social space; participate and engage! MYTH! Social media invites negative comments about my business Fact: Negative comments can be posted on social media sites whether your brand is there or not! Don’t combat or ignore a negative comment; respond by providing customer service. Turn those customers into brand evangelists by listening and taking action. Social Media Myths
    7. 7. <ul><li>Benefits of social media </li></ul>
    8. 8. Company Benefits <ul><li>Increase Brand Exposure & Site Traffic </li></ul><ul><li>Encourage Referrals & Build Loyal Advocates </li></ul><ul><li>Create Buzz for Events & Promotions </li></ul><ul><li>Gain New Influentials </li></ul><ul><li>Build Relationships </li></ul><ul><li>Gain Customer & Market Insights </li></ul><ul><li>Google Juice, Google Juice, Google Juice! </li></ul>
    9. 9. Social media influences purchase decisions <ul><li>91% say consumer reviews are the #1 aid to buying decisions 1 </li></ul><ul><li>87% trust a friend’s recommendation over critic's review 2 </li></ul><ul><li>Online social network users were 3X more likely to trust their peer’s opinions over advertising when making purchase decisions 3 </li></ul><ul><li>26% of search results link to user-generated content 4 </li></ul><ul><li>77% of prospects use reviews and ratings when shopping </li></ul>Source: 1 JC Williams Group, 2 Marketing Sherpa, 3 Jupiter research, 4 Nielsen Buzz Metrics
    10. 10. <ul><li>Hazards and </li></ul><ul><li>Rules of Engagement </li></ul>
    11. 11. But there are risks & rules! <ul><li>The legal stuff: Social media marketing is advertising, so the rules and laws related to advertising apply… </li></ul>
    12. 12. Community Chatter <ul><li>Do you care? </li></ul><ul><li>Will you respond? </li></ul><ul><li>Will you apologize? </li></ul><ul><li>Will you rebut? </li></ul><ul><li>Who will be in charge of responding, apologizing and rebutting? </li></ul>
    13. 13. Community Chatter <ul><li>What will you do if someone says something bad but it’s not about you, its about their neighbors or your prospects? </li></ul><ul><li>A lie? </li></ul><ul><li>A slur? </li></ul><ul><li>An over-the-top compliment? </li></ul>
    14. 14. Have Guidelines & Policies <ul><li>When are your employees actually your employees? </li></ul><ul><li>Are you responsible for their actions when they are “on the clock”? </li></ul><ul><li>Are you responsible for their actions when they are on their own time? </li></ul>
    15. 15. Provide Training <ul><li>What training are you going to provide for your employees? </li></ul><ul><li>Proper use of your social media </li></ul><ul><li>Proper use of social media in their lives </li></ul>Social Media Training
    16. 16. Remember Fair Housing <ul><li>Race </li></ul><ul><li>Color </li></ul><ul><li>Religion </li></ul><ul><li>Sex </li></ul><ul><li>Disability </li></ul><ul><li>Familial Status </li></ul><ul><li>National Origin </li></ul>Do not suggest “any preference, limitation or discrimination” based on:
    17. 17. Remember Fair Housing Use the logo!
    18. 18. Honor the Trademarks & Copyrights of Others
    19. 19. <ul><li>How is social media being used? </li></ul>
    20. 20. Social Media Landscape Source: Brian Solis Conversation Prism 2009
    21. 21. <ul><li>Social Networking Sites </li></ul>
    22. 22. Facebook
    23. 23. Facebook
    24. 24. LinkedIn
    25. 25. Industry Social Networks
    26. 26. <ul><li>Blogs & Microblogs </li></ul>
    27. 27. Blogs
    28. 28. Blogs <ul><li>If someone is blogging on your behalf, are you giving them anything (maybe discounted rent, favorable lease terms, an actual payment, or a paycheck)?   </li></ul><ul><li>Are they saying nice things?... </li></ul>
    29. 29. <ul><li>That’s an endorsement or a testimonial, and they must disclose what you give them for saying those nice things.  In fact, you need to direct the person that they cannot make unsubstantiated claims about your community and that they must disclose any material connection between the blog and you (such as that rental discount or that they are your employee). </li></ul>
    30. 30. Twitter
    31. 31. Twitter
    32. 32. <ul><li>Video </li></ul>
    33. 33. Video 183 million U.S. Internet users watched 34 billion videos in May 84.8% of the total U.S. Internet audience viewed online video Source: comScore Media Metrix May10
    34. 34. 4,000+ videos 28.4m+ lifetime views 1.7m+ views in June Premier packages with video increased LEADS 27% Premier Extra packages with video increased LEADS 10% Premier Plus packages with video increased LEADS 39% Source: Internal data June10
    35. 35. YouTube 70+ city playlists and city specific videos 33,000+ channel views and 475,000+ video views 200+ subscribers
    36. 36. <ul><li>Mobile Marketing </li></ul>
    37. 37. Mobile Space People who use mobile devices are 50% more active on SN’s 20% of tweets come from mobile devices 65m active users access FB thru mobile devices 4B mobile phones represent 59% of the world’s population Facebook just named the most visited social network site on mobile internet increased >600% in ‘09 4 mobile phones were sold to each PC in 2009
    38. 38. Mobile Space
    39. 39. Mobile Space
    40. 40. Mobile: Social Share
    41. 41. iPad App
    42. 42. Foursquare: Location-Based-Marketing Primary: Let your friends know where you are and figure out where they are. When you walk into a bar or restaurant, apartment community or mall, you &quot;check-in“ on your mobile device, and your friends will see where you are on a Foursquare map. Secondary: It's for collecting points, prize &quot;badges,&quot; and eventually, coupons, for going about your everyday business.
    43. 43. Foursquare: Location-Based-Marketing This “check-in” notification can also be cross promoted on Facebook and Twitter.
    44. 44. <ul><li>Interactive Print </li></ul>
    45. 45. Making Print Interactive <ul><li>Increasing Consumer Interaction: </li></ul><ul><li>LEADs Phone number </li></ul><ul><li>Social Icons </li></ul><ul><li>Video Icons </li></ul><ul><li>Mobile Keywords </li></ul><ul><li>Vanity URL </li></ul><ul><li>QR codes </li></ul>
    46. 46. QR Codes: Snap & Go
    47. 47. <ul><li>Consumer Promotions </li></ul>
    48. 48. <ul><li>Increases traffic to your website </li></ul><ul><li>Increases qualified LEADS ™ </li></ul><ul><li>Represents competitive edge and positions your company as a social media leader </li></ul><ul><li>Encourages consumer engagement, interaction & viral distribution </li></ul><ul><li>Builds up content to repurpose </li></ul>Benefits
    49. 49. Pet Pads Unleashed <ul><li>Concept: The “Pet Pads Unleashed” Photo Contest encouragesd apartment renters to submit a photo of how their pet lives the apartment life for a chance to win $1,500. Three Finalists took home a $400 gift card to a local pet store. </li></ul>
    50. 50. Pet Pads Unleashed Stats 560 photos submitted and 2,500+ votes 300+ new Facebook Fans and 14,000+ pageviews and 2,700 photo views 16,000+ photo views on Flickr
    51. 51. Viva La Vie Boheme in Your Apartment Photo Contest
    52. 52. Video Contest 2009 “Ready2Move?” Video Contest 120+ videos 99,000+ visits 24,000+ votes 79,000+ unique visitors 4,800+ users 335,000+ pageviews
    53. 53. Video Contest
    54. 54. Consumer Laws Apply <ul><li>Be sure your sweepstakes is not a lottery </li></ul><ul><li>(Now Nadeen talks about her triangle!) </li></ul>
    55. 55. Consumer Laws Apply <ul><li>And while we are on the topic of contests and sweepstakes, keep in mind that you cannot post these on your fan page with Facebook! </li></ul><ul><li>“ Section 3. Administering a Promotion through the Facebook Platform :  You may not administer any promotion through Facebook, except that you may administer a promotion through the Facebook Platform with our prior written approval. Such written approval may be obtained only through an account representative at Facebook.” </li></ul>
    56. 56. <ul><li>Tips & Advice </li></ul>
    57. 57. <ul><li>How much time are you prepared to devote to Social Media Marketing?... </li></ul>
    58. 58. Decisions, Decisions… You can be “known as a company that listens and participates” ~Mark Juleen, J.C. Hart Constantly managing everything said about you online can push you or your staff “over the edge” ~Lori Snider, Apartment Consultant
    59. 59. Tips & Advice <ul><li>Have a strategy </li></ul><ul><ul><li>Identify online communities, define objectives, allocate resources, establish the approach, link to technology </li></ul></ul><ul><li>Integrate with traditional media </li></ul><ul><ul><li>Use new media to gain more mileage from existing offline materials </li></ul></ul><ul><li>Integrate call-to-actions in social media activity </li></ul><ul><ul><li>i.e. sign up for our newsletter , become a fan, text for more info </li></ul></ul><ul><li>Quality over Quantity </li></ul><ul><ul><li>Content is king and contacts are queen </li></ul></ul><ul><li>Aim for a dialogue (engagement) </li></ul><ul><ul><li>Social media is NOT a broadcast medium </li></ul></ul><ul><li>Tell a compelling story </li></ul><ul><li>Set realistic goals and don’t expect overnight results </li></ul><ul><ul><li>Use trackable links and phone numbers to document referring traffic/ LEADS </li></ul></ul>
    60. 60. Tips & Advice <ul><li>… & always remember </li></ul><ul><li>Fair Housing! </li></ul>
    61. 61. Allocating Resources <ul><li>Assign internal social media guru </li></ul><ul><li>Determine budget </li></ul><ul><li>Establish policies and guidelines internally </li></ul><ul><li>Leverage existing content </li></ul><ul><li>Integrate with traditional marketing </li></ul><ul><li>Use tracking and syndication tools </li></ul><ul><li>Get employees and residents involved </li></ul>
    62. 62. Social Media Checklist <ul><li>Look your residents and contacts up in the relevant places and spaces </li></ul><ul><li>Create an account on networks and sites where you find your residents, prospects, partners and influencers </li></ul><ul><li>LISTEN to what’s on top of their mind – think beyond your product sale </li></ul><ul><li>Be approachable, let your connections know how to connect with you </li></ul><ul><li>Share your thoughts, interests – get social </li></ul><ul><li>Measure results and track your brand mentions </li></ul><ul><li>Tell your colleagues what you learn from your residents and prospects – encourage them to also listen and learn </li></ul><ul><li>Help your residents and prospects with helpful links and information </li></ul><ul><li>Stay focused on the people who are RELEVANT to you – otherwise you get distracted and spend 24 hours per day browsing around </li></ul><ul><li>DO NOT waste your time and be sure to follow your </li></ul><ul><li>business objectives </li></ul>
    63. 63. Resources <ul><li>New Media Glossary </li></ul><ul><li>Social Media Podcast Featuring Erica Campbell </li></ul><ul><li>3 Great Social Media Policies to Steal From </li></ul><ul><li>Is Your Social Media Platform Breaking the Law? (By: Nadeen Green and Doug Chasick) </li></ul><ul><li>Top 10 Opportunities that Social Networking Offers </li></ul><ul><li>Top 10 SEO Tips for Your Web Site and Internet Listing Ads (By Erica Campbell) </li></ul><ul><li>Top 8 Ways To Maximize Your Community Theater Video </li></ul>
    64. 64. Resources <ul><li>Real Simple Syndication (RSS) </li></ul><ul><li>Reputation Management Tools </li></ul><ul><ul><li>Google Alerts </li></ul></ul><ul><ul><li>Twilert </li></ul></ul><ul><li>Survey’s </li></ul><ul><ul><li>SurveyMonkey </li></ul></ul><ul><ul><li>SurveyGizmo </li></ul></ul>
    65. 65. Blog Resources <ul><li>All blog sites offer a free product and publishing tool. In addition, they offer premium products. </li></ul><ul><li>Wordpress </li></ul><ul><li>Blogger </li></ul><ul><li>Typepad </li></ul>
    66. 66. Join the Conversation Twitter: Facebook: LinkedIn: YouTube: MySpace: Flickr: Blog: