Market study in Las Vegas. Nevada Beverage needed to increase consumer market share. Went after the coolers in the grocery/convenience stores.Developed new packing/products to reach different target markets (Bud, Bud Light, 6-Packs, 12-Packs, Cans, Bottles, Long-necks, etc).Moral of the story: they looked at CONSUMER BEHAVIOR to drive their Market plan…….So what does this have to do with The Internet?Let’s talk about the consumer behaviors of Generation Y for a minute….Generation Y (ages 18-29) represents more than 70 million consumers in the United States who have a collective income of approximately $1.89 trillion. Since most are still in their teens and twenties, their total earnings are expected to grow to as much as $3.5 trillion over the next decade. They spend around 30 hours per week online and they don’t define “The American Dream” as home ownership!So what are they doing online?
Here is what your renters are doing online?Searching, Surfing & Socializing.Define each of these as it applies to the Multi-Family Industry.Social – The New Word of Mouth152 million – The number of blogs on the Internet (as tracked by BlogPulse). 25 billion – Number of sent tweets on Twitter in 2010 100 million – New accounts added on Twitter in 2010 175 million – People on Twitter as of September 2010 7.7 million – People following @ladygaga (Lady Gaga, Twitter’s most followed user). 600 million – People on Facebook at the end of 2010. 250 million – New people on Facebook in 2010. 30 billion – Pieces of content (links, notes, photos, etc.) shared on Facebook per month. 70% – Share of Facebook’s user base located outside the United States. 20 million – The number of Facebook apps installed each day.
There are over 25,000,000 searches a month for “apartments” related terms on Google, and if Google accounts for 2/3 of the search volume than that would mean there are over 37,500,000 searches a month across the web for “apartments” related terms.Of specific interest:“las vegas apartments” – 90,500“apartment reviews” – 110,000READY TO BUY AUDIENCE!Surfing – fantastic opportunity to brand & remarket your business.Socializing – Two or more people talking about you, without you! Not just Facebook & Twitter (Bud & Bud Light). Many other “flavors”.Reviews – Not only does it help/hurt the purchasing decision, but NOW HAS a major impact on what consumers see, when searching!
Start to get familiar with the term: Web Presence. This is the Internet equivalent to FULL MEDIA MIX!Consumers will find you in many different ways depending on their own backgrounds, habits, behaviors & needs.Most businesses have 1 static site, but your renters are finding you in many different places throughout the Web.We define these places as:Your Sites Your website, blog or profile page.Local Directories Map listings, Reviews, etcSocial Media Facebook & TwitterContent Sites YouTube, Flicker, etcThere are literally thousands of these sites….. (next slide)
Right now, everyone is talking about Facebook & Twitter (and for good reason), but (as you can see) there are MANY MANY roads leading to your properties.Renters consult multiple online sources before choosing where to live.Of the 71 percent of apartment hunters already active with social media, obtaining supplemental information including recommendations, visuals and special offers topped the reasons they tap these websites during their apartment search. The respondents ranked the top five benefits of using social media during their apartment search as:1) Finding additional apartment community information and recommendations (58.1%)2) Seeking photos and videos of apartments (54.7%)3) Searching for apartment listings (52.7%)4) Hunting for special incentives and offers (46.8%)5) Sharing apartment information with friends and seeking feedback (20.7%)
Audience involvement: Who thinks they understand how consumers are Searching, Surfing & Socializing when choosing an apartment?Winner gets the Bud Light!Now to talk about why a planned Web Presence strategy is So very important to you, please welcome our Director of Multi-Family, Justin Mink.
You need a comprehensive strategy that covers all bases – buying & building presence to optimize your web presence – Web Presence Optimization (more consumers finding and engaging in more places) has replaced the old SEO (the totality of your online existence was your website, and SEO was attempts to drive traffic there)
Buying and building presence – brief description of paid search, brief overview of new local listings and claiming places
Next, enhance your web presence by publishing fresh new content in the many places that your community can engage you. Build community + generate positive reviews = increased discoverability (search & social)
Buying and building work together to help you dominate shelf space and control how your brand is presented. Advertise (buy), and publish (build) – google places, facebook, twitter, yelp, apartmentratings.com, blogs, Flickr, Youtube, etc
The benefits are multi-fold: 1) generate referrals and build community through social discovery (Joe finding his buddy on Facebook), 2) generate good will and community advocates/evangelists = credibility with renters AND Google, which will lead to, 3) more roads that lead to you and are controlled by you, paved and expanded to become super highways…dominate that real estate and increase your market share
Social Media: What Is It and Where Is It Going: 2011 Nevada State Apartment Association Market Trends
Web Presence:What is it and where is it goingFebruary 10, 2011<br />
Three Conversations Online<br />Renters are searching, surfing & socializing<br />Social<br />Prospect<br />Prospect<br />Search<br />Surf<br />Property<br />
Consumers are online<br />Searching<br />16B<br />87<br />%<br />of consumers searched for local business<br />Monthly searches <br />Surfing<br />2B<br />38B<br />Monthly Yahoo! Page views <br />Daily YouTube video views<br />60%Online <br />Socializing<br />150<br />55<br />Daily active Facebook users<br />Daily time spent by avg. user<br />40%<br />Offline <br />minutes<br />million<br />Reviewing<br />Media Consumption<br />(per week)<br />86<br />90<br />%<br />%<br />Consult reviews before buying<br />Trust online reviews<br />Sources: Forrester, Pew, Nielsen, HitWise, Borrell, Kudzu <br />5<br />
Renters are online<br />Searching<br />Over 25,000,000 searches a month for “apartment” related terms on Google.<br />16B<br />87<br />%<br />of consumers searched for local business<br />Monthly searches <br />Surfing<br />Researching, Banking, Shopping, etc.<br />2B<br />38B<br />Monthly Yahoo! Page views <br />Daily YouTube video views<br />Socializing<br />150<br />55<br />Two or more people talking about you, WITH or WITHOUT you.<br />Daily active Facebook users<br />Daily time spent by avg. user<br />minutes<br />million<br />Reviewing<br />86<br />90<br />%<br />%<br />Consult reviews before buying<br />Trust online reviews<br />Sources: Forrester, Pew, Nielsen, HitWise, Borrell, Kudzu <br />6<br />
You Have:<br />a static website & one way to be found<br />You Need: a fresh Web Presence & many ways to be found<br />Your Sites<br />Local Directories<br />Social Media<br />Content Sites<br />More Quality Content Published in More Places = More Residents<br />
How consumers find & engage you<br />Content Sites<br />Site & Blogs<br />Reviews & Reco’s<br />Directories<br />Social<br />Location-based Services<br />Search <br />Engines<br />LV Apartments<br />Deals<br />8<br />How prospective renters are deciding where to rent!<br />
How consumers buy now<br />Learns more about your property<br />SMB<br />SMB<br />SMB<br />SMB<br />SMB<br />SMB<br />SMB<br />SMB<br />Checks your reputation<br />9<br />Searches <br />for an apartment<br />Hears from friends<br />Checks for <br />deals & offers<br />At each point you can engage and convert them into customers<br />
You need a Web Presence strategy<br />Buy Presence<br />+<br />Build Presence<br />+<br />Convert Customers<br />SMB<br />10<br />
new local search results<br />So consumers rely on Google for local search info<br />Paid ads<br />Map now top right and stays there – map pin now same as organic rank<br />Now predicts a local query and displays all local business listings<br />Reviews provide indicator of quality<br />Much more info on each listing<br />Place page link to Google’s detailed profile of the business<br />PageRank™ algorithm updated to better help consumers find a local business<br />11<br />
new local search results <br />Changes to PageRank algorithm to improve quality of local listings <br />Inbound Links<br />Social Pages<br />Fans & Followers<br />Google Place Page<br />Site & Blog<br />Reviews<br />+<br />+<br />+<br />+<br />Social Bookmarks<br />SOCIAL AUTHORITY<br />REPUTATION<br />CONTENT & LINKS<br />Prominent Organic Rank<br />=<br />How soon until it impacts Quality Score for AdWords?<br />12<br />
14<br />Web Presence strategy<br />Buy<br />Build<br />+<br />(Advertising)<br />(Content Marketing)<br />Search<br />Google, Yahoo, Bing, AOL, Ask, Citysearch, Superpages, Local.com and many more…<br />Surf<br />Thousands of top news, entertainment and review sites<br />Social<br />Facebook and Twitter, the top social media networks<br />
Web Presence BenefitsMore Content. More Places. More Customers.<br />Search<br />Discovery<br />Social<br />Discovery<br />Reputation <br />Apartments in Dallas<br />10 Tips for Moving<br />Stone Bridge Apartment<br />Stone Bridge Apartments<br />Great Article – you need to check it out.<br />Increase your online word-of-mouth through quality content that consumers share across the social web.<br />Improve your reputation with more positive content on search engines and review sites when consumers search for your name. <br />Increase your discoverability on search engines & local directories with fresh content on more sites.<br />
In summary…<br />Strategy for maximum discovery combines paid and organic search <br />KEY<br />Takeaways<br />Paid search ads are still the fastest way to drive quality traffic/leads, but you also need… <br />A fresh stream of quality content including reviews and social media marketing to improve organic rank and reputation<br />This is an evolution beyond traditional SEO that we call Web Presence Optimization (WPO)<br />16<br />