1.
Leveraging Business Intelligence
in a Social World
Francis Chow
Chief Strategy Officer - Ellis Partners
&
Co-Founder - Renter’s Voice
www.epmsonline.com
www.rentersvoice.com
multifamily-social-media.com
Twitter: @fchow4
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2.
WE LOVE TO CHECK BOXES, BUT
We need to go beyond that …
multifamily-social-media.com
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3.
AVOIDING THE CHECKBOX SYNDROME
What is the end goal?
multifamily-social-media.com
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4.
WHAT IS THE END GOAL?
Are you comfortable or not?
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5.
WHY ARE YOU HERE?
multifamily-social-media.com
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6.
ANSWER
How Customers Value You
Source: CMS wire
multifamily-social-media.com
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7.
CUSTOMERS ARE COMPLICATED TODAY
Identify
Need
Search for
Information
Conduct
Evaluation
Make a
Decision
Use of
Product
Stop Using
Product
Social has Led to Transparency
“If the ladder is not leaning against the right wall, every step we take just gets us
to the wrong place faster” – Steven Covey
multifamily-social-media.com
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8.
UNDERSTANDING CUSTOMER
BEHAVIOR IS A NEW SKILL SET
We want to create loyalty and understand what…
Makes them excited
Makes them renew
Makes them pay more
Makes them refer friends
or WHAT DOES NOT
Source: Ellis Partners in Management Solutions Resident Surveys
multifamily-social-media.com
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9.
HOW DO WE CREATE LOYAL RESIDENTS?
The Customer Effort
must be low
Using your services has to be
EASY
multifamily-social-media.com
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10.
THE EFFECTS OF NOT MAKING THE
CUSTOMER EFFORT EASY
“shoppers who saw a brand response that
required additional steps on the part of the
reviewer (such as contacting customer service)
saw a lower average increase in intent to
purchase (89%) than the average increase for all
brand responses (116%)”
Source: bazzarvoice
multifamily-social-media.com
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11.
REDUCING THE CUSTOMER EFFORT
There is a three step approach to solve what customers want:
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12.
BUT…THERE IS TOO MUCH DATA
Source: www.weightymatters.ca
multifamily-social-media.com
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13.
PREPARING FOR THE ROSE BOWL
 30 days to prepare
 15 years of coaching stats
 Films of every Auburn game
 Copies of practice schedule notes
 Notes of what they did well and not
well for every game for every
coach
multifamily-social-media.com
“yeah, I think any
time you have 30
days, you’re going to
have all the
information and then
some, and then as a
coach, you’ve got to
filter all that and
predict the best you
can on what they’re
going to do…” Jimbo Fischer
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14.
BUT…IS INFORMATION IS RELIABLE?
Don’t believe in
everything you
BIG DATA
hear or see
Your’s, theirs and
Business
the truth…
There are always
Intelligence
3 sides to every
Understandable
story…
Analytics
Action
multifamily-social-media.com
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15.
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16.
WE CAN’T IGNORE THE FACTS
Facts are the center of a great customer experience
BIG DATA
 Resident Feedback
 Demographic Information
 Performance Information
 Loyalty Scores
 Retention Rate
 Rent Per Square Foot
Business
Intelligence
Understandable
Analytics
 Key Performance Indicators
 Creating Change / Action
 Understanding Your Customers
Action
Source: Ellis Partners in Management Solutions Resident Surveys
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17.
BUSINESS INTELLIGENCE
It’s been around for a while
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18.
BUSINESS INTELLIGENCE
It continues to evolve – what are lenders looking at now?
SOCIAL & RETAIL SITES
WHAT ARE THEY LOOKING AT?
 Facebook
 Your friends
 LinkedIn
 Your job and connections
 eBay
 Types of comments
 Amazon
 Only lower or upper case messages
 PayPal
 Your buying and paying patterns
multifamily-social-media.com
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19.
WHAT IS THE DATA SAYING?
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HUMAN UNDERSTANDABLE ANALYTICS
It’s been around for a while
Quantitative
(Numbers)
Qualitative
(Words)
Operational + Social
Primarily Operational
multifamily-social-media.com
Statistics from www.rentersvoice.com, apartment ratings and review site
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21.
QUANTITATIVE ANALYTICS
How many reviews are residents writing?
Review Volume - Company A
600
50%
40%
500
40%
92% Responding Rate to Surveys
30%
23%
400
20%
10%
300
0%
200
60% Increase in Loyalty Score from
2012 through 2013
-10%
-20%
100
-31%
0
-30%
-40%
2010
2011
# of Reviews
2012
2013
% Change
Review Volume - Company B
20% Responding Rate to Surveys
100
50.00%
90
43%
40.00%
80
70
30.00%
60
282% Increase in Loyalty Score
from 2012 through 2013
50
20.00%
40
8%
30
20
0.00%
-3%
10
0
-10.00%
2010
multifamily-social-media.com
Statistics from www.rentersvoice.com, apartment ratings and review site
10.00%
2011
# of Reviews
2012
% Change
2013
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22.
QUANTITATIVE ANALYTICS
How do our properties rate?
High Performer
and High Page
Views
Low Performer
and Low Page
Views
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23.
MOVING TOWARDS QUALITATIVE
ANALYTICS
Numbers
Words
CONTENT
CONTEXT
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24.
QUALITATIVE ANALYTICS
Words define your resident’s experience
Survey Score
7 out
of 10
Survey Comments
I do enjoy living in this community. I
love the dog park for my corgi's
daily activity. I just wish everyone
cared as much about the up keep of
the property. There's old huge dog
turds along the back dog park gate.
The grass out there is dead and
someone keeps bathing their dog in
the fountain, which is simply
retarded.
Source: Ellis Partners in Management Solutions Resident Surveys

25.
QUALITATIVE ANALYTICS
Dissecting the comments
I do enjoy living in this community
67%
I love the dog park for my corgi's daily activity.
83%
I just wish everyone cared as much about the up
keep of the property.
50%
There's old huge dog turds along the back dog
park gate.
17%
The grass out there is dead and someone keeps
bathing their dog in the fountain, which is simply
retarded.
Source: Ellis Partners in Management Solutions Resident Surveys
multifamily-social-media.com
-17%
40%

26.
QUALITATIVE ANALYTICS
How one company used common trends
AFFORDABLE
COMMUNITIES
RESIDENTS
Source: Ellis Partners in Management Solutions Resident Surveys
multifamily-social-media.com

27.
QUALITATIVE ANALYTICS
How one company used this information
“Smoking”
is Mentioned
12x
64%
Wanted smokefree apartments*
17%
Were willing to
pay for it*
$100
Willing to pay
per month*
$115k
Increase in
yearly rent
Source: Ellis Partners in Management Solutions Resident Surveys
multifamily-social-media.com
*Survey by NakedApartments.com

28.
QUALITATIVE ANALYTICS
What gets your customers excited?
PEAR and GORGONZOLA
17 Reviews
GLUTEN FREE
9 Reviews
BBQ CHICKEN PIZZA
11 Reviews
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29.
QUALITATIVE ANALYTICS
Words define your resident’s experience
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30.
THE FINAL PIECE – MAKING THE
CUSTOMER EFFORT LOW
How do I make operational
changes?
What are my prospects looking
for?
How and where do I promote
my community?
multifamily-social-media.com

31.
ACTING ON DATA – MAKING IT EASY
Keeping customers on your page …

32.
ACTING ON DATA – MAKING IT EASY
Playing the Odds
Property
Page w/ RV
Link
Corporate Page
w/ RV Link
34.35% CTR
11.42% CTR
Community Page
w/ RV Link
7.73% CTR
Renter’s
Voice Page
57.52%
Avg. CTR
4.02% CTR
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33.
ACTING ON DATA – MAKING IT EASY
Keeping customers on your page …
www.rentersvoice.com

34.
ACTING ON DATA – MAKING IT EASY
Keeping customers on your page …

35.
ACTING ON DATA – MAKING IT EASY
Keeping customers on your page …

36.
ACTING ON DATA – MAKING IT EASY
Spreading the word

37.
IN CLOSING …
It's easy to make a buck. It's a
lot tougher to make a difference.
Tom Brokaw