You Got 'Em, Now Keep 'Em

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Presentation on Retention and Renewals for WMFHA 2009 Education Conference April 22nd

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  • You Got 'Em, Now Keep 'Em

    1. 1. You’ve Got ‘Em, Now Keep ‘Em! It’s a Jungle Out There Retention and Renewals Today’s presentation slides are available on Heather’s blog at www.behindtheleasingdesk.com for free download to share with your onsite teams!
    2. 2. Fight or Flight: What’s Your Choice? <ul><li>Retention To Do List: </li></ul><ul><li>Reexamine Retention Funding </li></ul><ul><li>Enable Resident Groups to Grow </li></ul><ul><li>Explore Changing your Press Game </li></ul><ul><li>Make the Message More Meaningful </li></ul><ul><li>Recruit more Resources! </li></ul>
    3. 3. Restructuring Your Retention Budget <ul><li>$3000 </li></ul>$3000 / 12 = $200/month Leaving $600 extra Which do YOU think will yield a better ROI on your retention dollars? 12 months of programming! OR 1 or 2 BIG BLOWOUTS!!!
    4. 4. Smaller Programs & Services Equal Bigger Retention <ul><li>Diversity Programs </li></ul><ul><li>Lending Library/Loner Closet </li></ul><ul><ul><li>Check out the March/April issue of Rent & Retain for more ideas </li></ul></ul><ul><li>Hosting a Community Craft Fair/Trader’s Market </li></ul><ul><ul><li>Optimal months – November and June </li></ul></ul><ul><li>Home Enhancement Programs </li></ul><ul><li>Partner with local merchants for programming/services </li></ul>Anything that saves or makes your residents money is a key to retention !
    5. 5. Resident Group Ideas <ul><li>Arts and Crafts </li></ul><ul><ul><li>Scrapbooking, Card Creation, or Stationary Making </li></ul></ul><ul><ul><li>Taking part in a monthly art walk as a venue </li></ul></ul><ul><ul><li>Knitting & Cross Stitch </li></ul></ul><ul><ul><li>Film and Video Group </li></ul></ul><ul><ul><ul><li>Resident movie screenings </li></ul></ul></ul><ul><ul><ul><li>Workshops on video editing techniques </li></ul></ul></ul><ul><ul><li>Painting, Drawing, Etc. </li></ul></ul><ul><li>Home & Family </li></ul><ul><ul><li>Mom’s Groups </li></ul></ul><ul><ul><li>Tea Time </li></ul></ul><ul><ul><li>Weekly Cooking Classes </li></ul></ul><ul><ul><li>After School Tutoring or Kids Clubs </li></ul></ul><ul><ul><li>New Move In MeetUps </li></ul></ul><ul><ul><li>Dog training groups </li></ul></ul><ul><ul><ul><li>Both PetCo & PetSmart have great outreach potential </li></ul></ul></ul>
    6. 6. Resident Group Ideas 2 <ul><li>Professionals </li></ul><ul><ul><li>Networking Wine & Cheese parties </li></ul></ul><ul><ul><li>Workshops for resume writing & social media use in job seeking </li></ul></ul><ul><ul><li>Gadgets and Gizmos Night </li></ul></ul><ul><li>Student Properties </li></ul><ul><ul><li>Go “Old Skool” with hosting a bimonthly LAN party </li></ul></ul><ul><ul><li>College Cooking Courses </li></ul></ul><ul><ul><li>Subject study groups </li></ul></ul><ul><ul><li>Saturday Spa Days </li></ul></ul><ul><li>Fun For All </li></ul><ul><ul><li>Monthly Movie Nights </li></ul></ul><ul><ul><li>Midweek Movie Marathons </li></ul></ul><ul><ul><li>Monthly Karaoke Nights </li></ul></ul><ul><ul><li>Bingo! </li></ul></ul><ul><ul><li>Weekly Game Nights </li></ul></ul><ul><ul><li>Fantasy Sports Leagues </li></ul></ul><ul><ul><li>Workout groups </li></ul></ul><ul><ul><li>Biweekly Book Club </li></ul></ul><ul><ul><ul><li>Don’t forget that KCLS is a GREAT resource!!! Twitter them: @kcls </li></ul></ul></ul>
    7. 7. More than just holidays… Annual Events at Their Best! <ul><li>Celebrate Pi Day on 3/14 with a pie bake off </li></ul><ul><li>6/10 is Judy Garland’s Birthday </li></ul><ul><li>Flag football games </li></ul><ul><li>SOUPERBowl Chili Cook off for Kickoff! </li></ul><ul><li>Spring Kite & Flight </li></ul><ul><li>Community Creep House for the Spooky Season! </li></ul><ul><li>Summer Community Picnic, Trader’s Market & Game Day </li></ul>For more event ideas, check out Rent & Retain’s Days and Days Section or the great discussions on Multifamily Insiders!
    8. 8. Contests for Connections <ul><li>Serenity Space Patios/Balconies </li></ul><ul><li>Know your Neighbors competition </li></ul><ul><li>JC Hart’s Video Contest </li></ul>Flip Video Mino $179.99 @ www.theflip.com
    9. 9. Dress Up Your Press to Impress <ul><li>Personalize, Personalize, Personalize! </li></ul><ul><li>Skip the kiddy games </li></ul><ul><li>Pictures up your readership! </li></ul><ul><li>Partner with Local Merchants for Special Resident Deals </li></ul><ul><li>Go Green! </li></ul><ul><li>Cut Costs by Producing In House </li></ul><ul><li>Forget Filler Articles </li></ul><ul><li>Use Your Whole Team’s Knowledge </li></ul><ul><li>Never Nagging! </li></ul>
    10. 10. Social Media Applications to Explore <ul><li>Facebook & MySpace </li></ul><ul><li>MeetUp.com </li></ul><ul><li>Twitter </li></ul><ul><li>Resident Portals </li></ul><ul><li>Community Blogs </li></ul><ul><li>What are the upsides? </li></ul><ul><ul><li>Feedback reception </li></ul></ul><ul><ul><li>Community Building </li></ul></ul><ul><ul><li>More connecting with your residents makes for higher retention </li></ul></ul><ul><ul><li>Word of mouth marketing </li></ul></ul><ul><ul><li>Chance at reaching some residents you’d otherwise miss </li></ul></ul><ul><li>What are the risks? </li></ul>
    11. 12. Domino’s & Other D’ohs! <ul><li>Social media takes Upkeep </li></ul><ul><li>Must be executed the right way </li></ul><ul><li>Social media is dangerous </li></ul><ul><li>Word of mouth should never be paid for </li></ul><ul><li>Evangelists, not sell-outs </li></ul>
    12. 13. A Word On Handwritten Notes… <ul><li>Often Underestimated & Imitated </li></ul><ul><li>No, it isn’t “the same thing!” </li></ul><ul><li>Nothing beats your personal handwriting when it comes to a true connection </li></ul>
    13. 14. The Word “Renewal” is SO Last Year… Make it a “Lease Birthday!” <ul><li>Your Lease will be 1 year old in May! </li></ul><ul><ul><li>Cake boxes, 10 slices for 3.99 from Oriental Trading Company </li></ul></ul><ul><ul><li>Fill with candy, cookies or $10 gift cards for coffee </li></ul></ul><ul><ul><li>Send a “Birthday Invitation” to invite the resident to come talk about their renewal </li></ul></ul><ul><ul><li>Their Present? Your Great Lease Rate, not to mention an awesome Signing Bonus! </li></ul></ul>
    14. 15. <ul><li>Parking Upgrades </li></ul><ul><li>Electronics </li></ul><ul><li>IKEA Giftcards </li></ul><ul><li>Don’t forget the pets! </li></ul><ul><ul><li>Pet litter bag holders </li></ul></ul><ul><ul><li>Treats </li></ul></ul><ul><ul><li>Leash with your property name on it </li></ul></ul><ul><ul><li>ID tag </li></ul></ul><ul><ul><ul><li>Customizable at Petsmart for ~$6: “Fox loves living at BTLD Apartments!” </li></ul></ul></ul>Your Signing Bonus… Renewal Gifts with a KICK! <ul><li>12 days of Maid Service – 1 each month! </li></ul><ul><li>Netflix or Gamefly subscriptions for the year </li></ul><ul><li>Season’s passes to local attractions </li></ul><ul><li>Apartment Upgrades </li></ul><ul><ul><li>Accent Walls </li></ul></ul><ul><ul><li>Ceiling Fans </li></ul></ul><ul><ul><li>Shelving </li></ul></ul><ul><ul><li>Green Living Upgrade Pack </li></ul></ul><ul><ul><li>New Lighting Fixtures </li></ul></ul>To our Neighbor!
    15. 16. Idea Share! <ul><li>What’s one idea you want to take home today and implement? </li></ul><ul><li>What is your most effective idea for resident retention that I didn’t mention? </li></ul>
    16. 17. Rockin’ Retention Resources <ul><li>Great Industry Blogs </li></ul><ul><ul><li>Lisa Trosien www.apartmentmarketingblog.com </li></ul></ul><ul><ul><li>Mike Brewer www.mbrewergroup.com </li></ul></ul><ul><ul><li>Mark Juleen www.theapartmentnerd.com </li></ul></ul><ul><ul><li>Heather Blume www.behindtheleasingdesk.com </li></ul></ul><ul><ul><li>Mike Whaling blog.30lines.com </li></ul></ul><ul><li>Websites to Bookmark! </li></ul><ul><ul><li>Multifamily Insiders www.multifamilyinsiders.com </li></ul></ul><ul><ul><li>Rent and Retain Magazine www.rentandretain.com </li></ul></ul><ul><ul><li>Howitzdunn Property Management www.howitzdunnmanagment.com </li></ul></ul><ul><li>Awesome Industry Twitter Minds You Should Follow </li></ul><ul><ul><li>Ltrosien – Lisa Trosien </li></ul></ul><ul><ul><li>Mfinsiders – Multifamily Insiders </li></ul></ul><ul><ul><li>Artchickhb – Heather Blume </li></ul></ul><ul><ul><li>Mbrewer – Mike Brewer </li></ul></ul><ul><ul><li>Mbj – Mark Juleen </li></ul></ul><ul><ul><li>Brentwilliams2 – Brent Williams </li></ul></ul><ul><ul><li>Eric_urbane – Eric Brown </li></ul></ul><ul><ul><li>Mfguide – Will Clark </li></ul></ul><ul><ul><li>30lines – Mike Whaling </li></ul></ul><ul><ul><li>Happyalldays – Darcey Forbes </li></ul></ul><ul><ul><li>Jessehartman – Jesse Hartman </li></ul></ul><ul><ul><li>SFRJen – Jen Piccotti </li></ul></ul><ul><ul><li>NAAhq – National Apt. Association </li></ul></ul><ul><ul><li>APTlyspoken – NAA Blog </li></ul></ul><ul><ul><li>Sladen123 – Sondra Laden </li></ul></ul><ul><ul><li>GraceHill – Grace Hill </li></ul></ul><ul><ul><li>MultifamilyPro – Tami Siewruk </li></ul></ul><ul><ul><li>KateGood – Kate Good </li></ul></ul><ul><ul><li>CharityHisle – Charity Hisle </li></ul></ul><ul><ul><li>Duckygator- Tom Roberts </li></ul></ul>
    17. 18. Lists & Links <ul><li>Games To Buy </li></ul><ul><ul><li>Cranium Cranium WOW Catch Phrase Outburst Taboo Scattergories Apples to Apples </li></ul></ul><ul><li>Movie Marathon Lists </li></ul><ul><li>Lord of the Rings </li></ul><ul><li>Star Wars </li></ul><ul><li>Star Trek </li></ul><ul><li>Harry Potter Batman </li></ul><ul><li>Superman </li></ul><ul><li>Land Before Time </li></ul><ul><li>World of Disney </li></ul><ul><li>Rodgers and Hammerstein Musicals </li></ul><ul><li>Vendors I Mentioned &/or Like </li></ul><ul><ul><li>Beyond Wine & Cheese </li></ul></ul><ul><ul><ul><li>Great marketing and retention resource </li></ul></ul></ul><ul><ul><ul><li>www.beyondwineandcheese.com </li></ul></ul></ul><ul><ul><li>Benson Media </li></ul></ul><ul><ul><ul><li>Innovative ideas and products </li></ul></ul></ul><ul><ul><ul><li>www.apartmentmarketingstore.com </li></ul></ul></ul><ul><ul><li>Grace Hill </li></ul></ul><ul><ul><ul><li>Awesome online training and discussions! </li></ul></ul></ul><ul><ul><ul><li>www.gracehill.com </li></ul></ul></ul><ul><ul><li>Apartment All Stars </li></ul></ul><ul><ul><ul><li>The best consultants in the biz! </li></ul></ul></ul><ul><ul><ul><li>www.apartmentallstars.com </li></ul></ul></ul><ul><ul><li>Apt Connect </li></ul></ul><ul><ul><ul><li>Resident Portal Development </li></ul></ul></ul><ul><ul><ul><li>www.aptconnect.com </li></ul></ul></ul>
    18. 19. Lists & Links 2 <ul><li>Mike Whaling’s post on 30 Lines about 30 things to write about in your blog/newsletter </li></ul><ul><li>Heather’s post on Behind The Leasing Desk about Resident Contact Notes </li></ul><ul><li>JC Hart’s Video Contest Website </li></ul><ul><li>Heather’s Green Living Upgrade Pack </li></ul><ul><li>CFL bulb replacements </li></ul><ul><ul><ul><li>Motion Sensor Lights </li></ul></ul></ul><ul><ul><ul><li>Low-Flow Shower Heads </li></ul></ul></ul><ul><ul><ul><li>New weather stripping </li></ul></ul></ul><ul><ul><ul><li>Logo Shopping bags </li></ul></ul></ul><ul><ul><ul><li>A copy of “The Green Book” </li></ul></ul></ul>
    19. 20. Questions or Comments? Here’s Where to Find Me! <ul><li>Behind The Leasing Desk </li></ul><ul><li>Twitter - @artchickhb </li></ul><ul><li>Facebook </li></ul><ul><li>LinkedIn.com </li></ul><ul><li>Through Career Strategies Inc. </li></ul><ul><ul><li>2018 156 th Ave SE, Bellevue, WA 98007 </li></ul></ul><ul><ul><li>425.698.3747 Mobile Phone </li></ul></ul><ul><ul><li>[email_address] </li></ul></ul>

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