Marketing Tactics for Smaller Owners - 3 Presentations

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I Work By Myself: Marketing Tactics That Work for Small Owners and Small Departments Small companies and single-member departments often struggle under the weight of their marketing choices and how to think about them in a structured way. Rather than present yet another marketing plan template, we’re asking innovative thinkers to come up with prescriptive plans to advise small companies and simply recommend time- and cost- effective tactics all at once. The focus of this session will be on delivering, ordered, contextual lists that are rank-ordered in terms of priority.

Matt Adler, Principal, Adler Development
Heather Campbell, Vice President of Marketing, Riverstone Residential
Bill Szczytko, Director of IT, Maryland Management

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Marketing Tactics for Smaller Owners - 3 Presentations

  1. 1. I work by myself…<br />Marketing tactics that work for small owners<br />
  2. 2.
  3. 3.
  4. 4. I WORK BY MYSELFMarketing Tactics That Work For Small Owners<br />Matt Adler<br />Adler Residential<br />AIM 2011<br />
  5. 5.
  6. 6. Adler Residential Corporate Directory<br />Matt Adler<br />Principal<br />Matt Adler<br />Regional Manager<br />Matt Adler<br />Human Resources<br />Matt Adler<br />Property Manager<br />Matt Adler<br />Head Of Maintenance<br />Matt Adler<br />Marketing Director<br />Matt Adler<br />Complaint Department<br />Matt Adler<br />Sweeper<br />
  7. 7. ‘AIM’bition… we came to AIM to learn how not to waste our limited marketing budgets…<br />
  8. 8. Rx For Success<br /> The Cinderella Principle<br /> Nail The Basics<br /> Survey<br /> Experiment<br /> The Power Of ONE<br />O<br />
  9. 9. The Cinderella Principle<br />
  10. 10. The ‘AIM’bitious Cinderella Principle(NJ Edition)<br />The perfect is the enemy of the good… Voltaire<br />
  11. 11. NAIL THE BASICS<br /><ul><li>Answer your phone calls
  12. 12. Return messages
  13. 13. Answer e-mails
  14. 14. Don’t let prospects get away</li></ul>LEAD TRACKING<br />This is what happens when your foundation is not solid…<br />
  15. 15. NAIL THE BASICS<br />Getlisted.org  Claim and control the free listings<br />Get listed on the web…<br /> Expressupdateusa.com<br /> Yellowpages.com<br />
  16. 16. NAIL THE BASICS<br />Just remember, it’s not really ‘free’…<br />Craigslist<br />… so be more effective<br />… and be more efficient!<br />
  17. 17. NAIL THE BASICS<br />Partner Up With An ILS<br />Significant financial resources<br />Appear at the top of a majority of searches<br />Pick the best (market specific) provider<br />
  18. 18. Survey - Why me?<br />Why did the prospect pick your community?<br />Why did the applicant pick your community?<br />Why did the resident pick your community?<br />ASK. ASK. ASK.<br /><ul><li>PollDaddy.com, Surveymonkey.com, postcards…</li></ul>polldaddy<br />Engage your audience<br />SurveyMonkey.com<br />because knowledge is everything<br />
  19. 19. Experiment<br /> building out a Respage community<br />Monitored and assisted exposure to social media<br />Why?<br />Steady stream of content<br />Integrates your website, Facebook and Twitter<br />Resident communication<br />Organic search exposure (SEO)<br />5+(2 x 52) > 5<br />
  20. 20. The Power Of ONE!<br />O<br />Overcome<br />Outsource<br />Network<br />Examine<br />
  21. 21. The Power Of ONE!<br />O<br />Overcome<br />Budget constraints<br />Objections<br />Limitations<br />
  22. 22. The Power Of ONE!<br />O<br />Outsource<br />Speakers and trainers<br />Designers<br />YOUR RESIDENTS<br />Bloggers<br />Photographers<br />Videographers<br />Referrers<br />
  23. 23. The Power Of ONE!<br />O<br />Network<br />Our industry is full of wonderful people<br />Idea generation<br />It’s one huge benefit of being here!<br />Don’t reinvent the wheel<br />
  24. 24. The Power Of ONE!<br />.<br />.<br />O<br />Eyes<br />Monitor your progress<br />Examine the data<br />Measure the results<br />Watch the market<br />
  25. 25. But I don’t have a model…<br />
  26. 26.
  27. 27. No Model? No problem!<br />Empty apartment photos<br />Digitally furnished<br />www.virtualstagingsolutions.com/adler<br />coupon code AIM2011<br />
  28. 28. Rx Review<br /> The ‘AIM’bitious Cinderella Principle<br /> Nail The Basics<br /> Survey<br /> Experiment<br /> The Power Of ONE!<br />Jersey Edition<br />O<br />
  29. 29. In closing…<br />Go home and hit the ground running!!<br />
  30. 30. Matt Adler<br />madler@AdlerResidential.com<br />
  31. 31. I work by myself: Marketing Tactics that work for small owners and small departments<br />Bill Szczytko<br />Director of IT for Maryland Management<br />Twitter: @BSitko<br />http://www.facebook.com/BSitko<br />Blog: http://www.bsitko.com<br />Email: BSitko@marylandmgmt.com<br />
  32. 32. Too much crap<br />
  33. 33. Your Enemies:<br />TIME<br />MONEY<br />
  34. 34. What are other things that dictate your priorities?<br />1) Company Culture<br />
  35. 35. What are other things that dictate your priorities?<br />2) The type of Marketing person you are.<br />Are you person centric?<br />Are you a creative Marketer?<br />Are you analytical?<br />Stop reading this and look at the guy talking. Geeks are hot.<br />
  36. 36. What are other things that dictate your priorities?<br />3) Market demands.<br />
  37. 37. One size doesn’t fit all<br />
  38. 38. Get these things right…<br />1) Killer Website<br />Did you know that 78% of internet users conduct product research online? Companies that blog get 55% more web traffic.<br />Stats from Hubspot.com<br />
  39. 39. Get these things right…<br />2) Craigslist<br />
  40. 40. Get these things right…<br />3) Google Places… make sure you’ve claimed your listings.<br />
  41. 41. Get these things right…<br />4) Develop a partnership with an ILS.<br />
  42. 42. Get these things right…<br />5) Employee Empowerment and Training<br />
  43. 43. Get these things right…<br />6) Know your competition<br />
  44. 44. Conclusion Time<br />Determining what to do next.<br />Depends on culture.<br />Depends on YOU.<br />Depends on the market.<br />Oh yeah..It depends on whether you have the time and money too.<br />Remember.. one size doesn’t fit all.<br />
  45. 45. Some final takeaways<br />Asset management.. Cloud style<br />Box.net or Dropbox.com<br />Flickr or Photobucket<br />Email2Db<br />Google Voice<br />Get out there and learn!!<br />
  46. 46. I work(ed) by myself.<br />Heather CampbellRiverstone Residential<br />
  47. 47. What I thoughtit would be like.<br />
  48. 48. Turns out it was more like this.<br />
  49. 49. Here’s the scene:<br /><ul><li>Boutique owner & developer with 2,400 units in the greater Denver metro area
  50. 50. Wildly disparate portfolio ranging from moderate product to Class A++ high-rises
  51. 51. Well-known and respected in the market but no real unified branding strategy
  52. 52. Tenured and talented onsite teams with a desire to dominate the market
  53. 53. Roughly 23% of leases sourced through the Internet
  54. 54. Joined as a new corporate website was wrapping up</li></li></ul><li>Small company.<br />Big company strategy.<br />Little budget.<br />
  55. 55. Goals for today<br />A prescriptive overviewof the marketing programGo-to marketing analyticsMaintaining sanity<br />
  56. 56. Priorities<br />TrainingResident experience(SUFFICIENTLY DIFFERENT & SUFFICIENTLY BETTER)New school vs. old school(ONLINE VS. OFFLINE)<br />MarketingBranding(LEVERAGE A GREAT REPUTATION & CREATE EFFICIENICES)Major SEO & SEM(INVEST FOR THE LONG HAUL AND EXPLOIT ONLINE CHANNELS)Establish metrics(REDUCE SPEND)<br />
  57. 57. Branding<br />
  58. 58. Branding<br /><ul><li>Focused on the branded website and building a unified SEM program
  59. 59. More intuitive path to pricing & availability
  60. 60. Robust online leasing (vs. online reservations) and rent payment
  61. 61. Created a distinct branded look, feel & voice consistent with the website design
  62. 62. Simplified design & messaging across the board: SEM, print collateral and signage
  63. 63. 40% increase in leads from print sources post-redesign</li></li></ul><li>SEO & SEM<br />SEO > SEM<br />
  64. 64. SEO & SEM<br /><ul><li>Educate execs on SEO & SEM
  65. 65. Long-term benefits vs. short-term feel-good tactics
  66. 66. Exclusive focus on the branded website
  67. 67. Eliminate individual community sites
  68. 68. Redirect vanity urls to the parent site
  69. 69. Rebuild the back-end for search
  70. 70. Implement a robust content & linking strategy
  71. 71. Keyword research & refinement
  72. 72. Website and PPC
  73. 73. Immediately reduce PPC spend
  74. 74. Launch content strategy</li></li></ul><li>SEO & SEM<br /><ul><li>Website
  75. 75. Optimized content themes that established my company as an expert in Denver apartments
  76. 76. Internal and external linking strategy
  77. 77. Improved user experience
  78. 78. Cleaner, more intuitive path to key conversions: find apartments, check availability, lease now & contact
  79. 79. Complete online leasing (in-house) & rent payment (third-party)
  80. 80. 50% average year-over-year increase in unique and repeat visits
  81. 81. Brand website #1 source of leasing traffic
  82. 82. Leases sourced through the Internet rose to 68%</li></li></ul><li>SEO & SEM<br /><ul><li>Website metrics
  83. 83. Unique & repeat visitors
  84. 84. Pages viewed, time on site, navigation path, key conversion milestones
  85. 85. Organic, paid & referral sources
  86. 86. Top 10 keywords & keyword performance
  87. 87. Campaign tracking and navigation path
  88. 88. Inbound and outbound links
  89. 89. Pages depth
  90. 90. Rankings
  91. 91. Cost-per-lead/lease</li></li></ul><li>SEO & SEM<br /><ul><li>PPC
  92. 92. Refined campaigns so we weren’t competing with each other
  93. 93. Geographical & competitive trigger keywords for individual properties
  94. 94. One “bucket” account for general search terms
  95. 95. Ratchet spend up and down by specific unit types and availability
  96. 96. Reduced spend by 75% (CPC average < $2)
  97. 97. Increased click-through rate to an average of 4%</li></li></ul><li>SEO & SEM<br /><ul><li>Email marketing
  98. 98. Weekly and on-demand campaigns
  99. 99. Deals of the Week – 7 week recurring campaign to all prospects
  100. 100. Special campaigns to promote community leasing weekend and other specials
  101. 101. API to/from Yardi to automate messaging
  102. 102. Average open and click-through rates of 38% and 67% respectively
  103. 103. Top five referral source to our website</li></li></ul><li>So How Did We Pay for This?<br /><ul><li>All tactics were implemented on a budget-neutral basis
  104. 104. Redeployed savings into SEO / SEM programs
  105. 105. Reduced overall marketing spend by $464,000 in 2.5 years</li></li></ul><li>Training<br />
  106. 106. Resident experience<br />
  107. 107. Resident Experience<br /><ul><li>Discovery sessions
  108. 108. Identify what’s working and impact opportunity gaps
  109. 109. Major focus on follow-up
  110. 110. Tied online training program to desired behavior
  111. 111. Reconfigured the guest card to match our follow-up program
  112. 112. Dramatic improvement response times and consistency
  113. 113. Provide better support for the leasing process
  114. 114. Communication plan from lease to move-in
  115. 115. Better information on what is needed (i.e., paperwork, pet documents, renters insurance, etc.)</li></li></ul><li>New school vs. old school<br />
  116. 116. New School vs. Old School<br /><ul><li>Educate our teams on online marketing and its nuances
  117. 117. Specials and availability functionality had to be managed by our onsite teams
  118. 118. Easy-to-use dashboards configured in our CMS gave the teams easy access
  119. 119. Create common understanding of online tools & efficiencies</li></li></ul><li>Thank you!<br />

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