cutting through the clutter - marketing planning for multifamily
DESCRIPTION
Jane Griffith of Pinnacle and Donald Davidoff of Archstone close the 2010 AIM Conference with a presentation on how to make sense of all of the marketing options and channels available to companies that market and lease rental apartments.TRANSCRIPT
AIM 2010Cutting Through the Clutter: Making an Effective Simple
Marketing Plan
Donald Davidoff
Archstone
Jane Griffith
Pinnacle
AIM 2010
Lauren McDonald
Bozutto
Some Fundamental Truths (whether you like it or not)
• You don’t have unlimited time• You don’t have unlimited money• You don’t have skill at all facets of marketing
So what do I do?
• Focus (“it’s OK to not be doing everything”)– What’s your product?– Who’s your audience?– What are your vehicles?
• Leverage existing (& develop new) vendor relationships (“why do all the work yourself?”)
• Make the tough trade-offs– Prospect vs resident– Transactional vs brand– “Free” vs “Fee”– Traditional vs emerging
The 3 most important thingsin marketing?
• Measurement• Measurement• Measurement
Develop a roadmap
• Build on your successes– Press the bets that work
• “Right size” the mediocre– Reduce cost or increase results
• Ditch what’s not working– Have the courage to let projects die and vendors go
• Monitor what you’re unsure of• Know your priorities
– What’s an acceptable CPL?– How do you choose to measure “brand” (aka “relationship”) marketing?– “Take the best and leave the rest”
• Website• ILS
– Traditional– Craigslist– New entrants
• “Social media”– Facebook, Twitter, et al– Reputation Management (Yelp, ApartmentRatings, et al)– Blogging
• Point of Sale– Leasing Center– Models– Door hangers, etc
So Much to Choose From
• Start with the workhorses that have proven delivery:
– Craiglist– ILS
» Prioritize by CPL» Leverage tools from vendors
An Organized Model
• Don’t ignore your point of sale environment
An Organized Model
• Finish out your “base” with a great website
– Great images – Easy to search – Map functionality – Easy to contact community
An Organized Model
• More and more people are searching through map functionality (Google Local, Yahoo Local, etc.)
An Organized Model
• Make it easier for your residents to do business with you and connect with their neighborhood
An Organized Model
• Follow up regularly with your existing prospects
An Organized Model
• Do you have a Yelp and ApartmentRatings strategy?
– It’s about customer service FIRST– Marketing effect is a result, not a strategy
An Organized Model
• Mobile is the “next big thing”– Still just 3-9% of current searchers– Fastest growing segment
An Organized Model
• Round out your marketing with a social media program
– This area is least mature and therefore most ripe for “testing”
An Organized Model
An Organized Model
Drive your decisions with data and a CPL focus
Q&A