Digital Strategy For SoCal Real Estate Conglomerate

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  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • Currently 3% of people accessing RL.com use a mobile device and 6% of MyRL.com.
  • Currently 3% of people accessing RL.com use a mobile device and 6% of MyRL.com.
  • Currently 3% of people accessing RL.com use a mobile device and 6% of MyRL.com.
  • WebTrends Data: ( )% of all visits Virginia #2 Washington (state) #3 Washington DC #4 New Jersey #5 Texas #6 New York #7 Illinois #8
  • Digital Strategy For SoCal Real Estate Conglomerate

    1. 1. Online Strategy Strategic Goal: Build Army of Brand Advocates Awareness: Integrated Marketing Programs utilizing The ICAC • Move Up Tenant Lifecycle local, social, mobile, search and traditional marketing • Re-Sign to drive Tenant Prospect traffic • Move Out • Buy Home Consideration: Incentives and ICAC ValueICCD Proposition served to Tenant Prospects at the right time and via right delivery mechanism Interaction: Easy-to-Use Web and Mobile access channels that allow for Lease related transactions / interactions with ICAC ICAC Loyalty: Incentives and ICAC Value Proposition served to Tenants at the right time via the right delivery mechanism to drive Retention and Repeat Business Advocacy: Provide path for up-sale and cross-sale of ICAC as well as Irvine Company offerings and platform(s) to evangelize the “Irvine Apartment Experience” to realize Word of Mouth market potential. 1
    2. 2. Online Strategy Roadmap • Search • Evolve Current Tactics • Increase Share of Voice • Continue Segmentation Techniques (i.e. Snowbirds) • Explore National and Global marketplaces • Local • Employ Demand Shaping • Mobile • Evolve Current Mobile Sites and Apps • Begin and Increase PPC Campaigns Accordingly Based on Usage • Begin and Extend Mobile Advertising • SMS Reminders/Alerts • Explore iPad and other devices • Social • Leverage to expand • Create Centralized Management Console • Align Social with Customer Care reporting • Evolve Media Outlet Tactics 2
    3. 3. Objectives It Takes a Community to Build An Army1. Increase Community Efficiency Rating (CER) a. Occupancy Rate of Each Community to Greater Than 95.5% b. Extend Average Lease Term from 23 to 24 Months c. Decrease Lease Delinquency by 10%3. Make Doing Business With ICAC Easy (A Caveman Could Do It) by Developing Transactional Tools for the Most Popular Web Access Devices5. Increase Customer Satisfaction by Aligning Social Sentiments with Traditional Customer Support Activities to ultimately provide a platform for ICAC evangelists – build army of Brand Ambassadors 3
    4. 4. Objectives Community Efficiency Rating DefinedNew KPI:( Occupancy Rate * Average Lease Term )- Rate of Delinquency = Community Efficiency RatingThreshold: Community CER(.955 * 23) - .016 = 21.95 Community A Community B 22.05 22.02 ACCEPTABLE Community C 21.96 The idea is that a community can be underperforming in one area, but make Community D 20.75 up for it in another so that it’s portfolio value Community E 19.76 UNACCEPTABLE is “acceptable” Online Strategy: Focus On The CER Variables To Pull Communities Over The Threshold 4
    5. 5. Increase Paid Search: Best Value Occupancy RateICAC is AheadOf the CurveBy Shifting SpendFrom Print andOther AntiquatedMedia to NewMedia 5
    6. 6. Increase Paid Search: Current Strategy Evolution –Occupancy Rate Increase “Share of Voice” 85.4% Available 14.6% Reached • Stay the Course Re: Current PPC Strategy – Continue to Learn, Evolve and Capture More “Share of Voice” • Segment Customers into Types: Snowbirds, Winter, Annual Leasers, etc. and build Campaigns with Segment-Specific Landing Pages • Test National and International Campaigns 6
    7. 7. Increase Paid Search: Engage Global MarketplaceOccupancy Rate 7
    8. 8. Increase Paid Search: Global PlanOccupancy Rate1. Phase 1: Testing in Late 2010/Early 2011. Geographies in Order of Testing: a. Canada (Already Underway) b. United Kingdom c. Germany d. India e. Finland2. 3 Landing Pages for Each Geography Will Be Developed to Target the 3 Areas of the ICAC business via: a. RL keywords, copy and content. b. RLIC keywords, copy and content. c. IAC Suites, copy and content.5. Phase 2: Begin Full Campaigns Based on Learnings and Share with rest of Irvine Company (i.e. Resorts) 8
    9. 9. Increase Local: Employ “Demand Shaping”Occupancy Rate Localized Search Techniques Dovetails into Current Geo Strategy: hat Is Demand Shaping? aid Search Campaigns are Geographically Micro-Targeted to the Zip Code Level to Provide Demand Generation to the Communities that Need it Most. We Systematically “Shape Demand” to Meet ICAC Occupancy Objectives ow Does It Work? uild Community-Specific Ads with Landingpages and Served Within a 10 Mile Radius of the Community. Constantly Monitor and Adjust Ad Spend Until Goal of 95.5% Occupied is Achieved – then, Move To Next of Community. ow is It Funded? 9
    10. 10. Increase Paid Search: “Demand Shaping” IllustratedOccupancy Rate 1. Create a 5 Community Cluster in the same geographic region that fall under 95.5% occupancy 5. Assign all OC/Irvine Geo PPC Dollars to these regions 8. Build Landingpages Community Landingpage for each Community 11. Rotate Search Results by Community 15. Once occupancy reaches threshold, shuffle the cluster Provide Resources Where They Are Needed Most To Influence Demand and Reduce Inventory Levels 10
    11. 11. Increase Search: Go Local to Increase ShareOccupancy RateSearch Trends• Being found requires creating a strategic web presence including all types of Search (paid, organic, video, mobile) with focus on driving leases• Local search, when coupled with a mobile device, will be among the hottest search growth areas – consumers with an immediate need for information• Social Search – letting users vote on the best search results for a topic• Personalized Search– Engines understand who you are and your needsSearch Recommended Tactics for ICAC• Employ Demand Shaping Localized Techniques to Bolster Underperforming Communities• Segment marketplace into “User Groups” – Snowbirds, etc.• Increase Share of Voice to extend / enhance current strategies• Explore National and Global markets 11
    12. 12. Increase Average Reminders/Alerts + Incentive Lease Term Goal: Increase Average Lease Term the Board by 1month in FY2011 5. Utilize Email Marketing Capabilities and SMS to Trigger Lease Renewal Incentive Programs On Timed basis: Start 3 Months Out 7. Tie Payment Reminder Program to Pay Lease Online Functionality 9. Build Incentive Based Lease Renewal Web Presence Focusing Just on Renewing Leases 11. Build “If you are going to buy, you should buy with Irvine” web presence and provide “handshake” to ICCD 13. Create “Clawback Program” to attract prior tenants 12
    13. 13. Decrease Integrated Approach: Mobile & EmailDelinquency RateGoal: Decrease Lease Delinquency Across the Board by 10% in FY20114. Build SMS and Email based Reminder Systems Triggered by Lease Due Date • Opt-In from MyRental-Living.com • 3 days prior to lease due date, send both SMS and Email Reminders • Send reminder on due date with “incentive” verbiage stating that penalty is looming • On day of penalty, send reminder to pay lease and if you pay today, avoid penaltiyAll link back to online payment system for easy online paymentOffer multiple forms of payment – eCheck, Debit / Credit Card, Auto-Pay 13
    14. 14. Make Doing The Mobile Hockey Stick Business EasyMobile is theFastest Growing“New Thing”Ever 14
    15. 15. Make Doing The Mobile Hockey Stick Business EasyMobile Statistics: 15
    16. 16. Make Doing The Mobile Hockey Stick Business EasyMore Data Points 16
    17. 17. Mobile Mobile activates traditional, not digital media.Mobile Recommended Tactics for ICAC• Continue to Evolve Mobile Websites & Applications (MyRL and RL) – iPhone, Blackberry, Android• Mobile Specific Pay Per Click Search campaigns with specific landing pages• SMS texting (reminders, alerts, coupons, sweepstakes, lead generation) that effect business drivers such as Delinquency Rates• Mobile Advertising in both Mobile Apps and Mobile Search• Explore uses for iPad (virtual tours) and other non-smartphone devices (Google TV) 17
    18. 18. The Platform that mobilizes the Brand Social Advocate Army. The ICAC Social “State of the Union” 4.Great Start 5.Will Get Unwieldy 6.Requires Centralized Management 7.Will Develop Incentives to Drive behaviorGoal is to Fill OutThe High ColumnSee next slide for Attribute Definitions 18
    19. 19. The Platform that mobilizes the Brand Social Advocate Army.Takeaway:If we don’tmanage SocialSentiment, OurCustomers will do itfor us without ourinput 19
    20. 20. Everyone is doing it! 3 out of 4 Americans use Social social media technology.Social Recommended Tactics for ICAC• Leverage social to expand traffic to and engagement with Rental-Living.com and MyRental-Living.com• Create Centralized Management Console to mange sentiment and ease overall management of Social – allows for all communities to have a social presence• Align Social with Customer Care reporting to track sentiment and effectiveness of issue resolution• Media Outlet Tactics: • Facebook Geo-targeted advertising • Twitter – grow followership, deepen engagement, launch promotions • Host/participate in Tweet-Ups at our communities • Community ratings and reviews • Launch Four Square potentially with the UTC portfolio 20

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