tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables...

25
Executive Summary Presented To: Gigi Giannoni, Gables Residential Presented By: Jim Grady, Tag-IT, LLC www.mytagit.net, [email protected], 678-918-4538 Date: Friday, April 10, 2015

Upload: james-grady

Post on 16-Jul-2015

50 views

Category:

Technology


0 download

TRANSCRIPT

Page 1: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

Executive SummaryPresented To: Gigi Giannoni, Gables Residential

Presented By: Jim Grady, Tag-IT, LLC

www.mytagit.net, [email protected], 678-918-4538

Date: Friday, April 10, 2015

Page 2: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

Opportunity #1: Incentivize residents to help you greatly increase your social media channels.Social Media – quality traffic/low cost.

More traffic, higher quality, equals more signed leases…Now is the time to invest in building your social media channels. People

who are referred to your properties are more likely to become a resident. Let your current residents lead you to those people. It is hard

to standout when Apartments.com now tracts 770,000 rental listings at more than 462,000 apartment buildings in the U.S. (source:

WSJ)

Page 3: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

Your current residents can drive low cost impressions into your target markets.

LEVERAGE – your residents’ networks.

By 2017 over 183M people in the U.S. will use social media. (source: emarketer.com)

Company with 35k units/70k residents, has potential Facebook audience of 23.7M. (70k * 338)

70% of Facebook users check their account at least once per day. 23% five or more. (source: convince & convert)

74% of all Internet users are on social media. (source: PewResearchCenter)

Landlords will spend $1.5B online in 2015, up from $630M in 2014. (source: WSJ)

Page 4: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

THE BIG IDEA (1 of 2)

Residents have to ‘LIKE YOU’ before they will ‘LIKE YOUR CONTENT’!

Gables ResidentialCreates awesome/compelling content.

Residents must ‘LIKE YOU’Invest in residents so that they ‘LIKE YOU’ first.

Residents can then ‘LIKE YOUR CONTENT’Good relationships lead to residents liking ALL your social accts.

Actions can then happenNew traffic, new leases signed, etc.

Page 5: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

Is it a worthy investment to have direct access to customers via robust social networks.

CONTROL – third party control of leads.

Heavy Investment/Potential Loss of Control…In 2015, Apartments.com (CoStar) is launching $100M marketing

campaign/new website with Jeff Goldblum (actor) to reach 95% of all renters in the U.S. (age 18-49) – 3.0B impressions.

$100M Advertising Unique Monthly Visitors

Page 6: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

BRANDS Investing on Social Media (1 of 2)

Strong Social Media presence really enhances SEO strategy (show up higher in search).

Coca-Cola89M Likes Facebook.2.9M Followers Twitter.519k Followers Instagram.5.2k Followers Pinterest.

Waffle House722k Likes Facebook.55k Followers Twitter.15k Followers Instagram.938 Followers Pinterest.

Chick-fil-A7.3M Likes Facebook.547k Followers Twitter.178k Followers Instagram.2.2k Followers Pinterest.

SPANX144k Likes Facebook.24.4k Followers Twitter.519k Followers Instagram.381 Followers Pinterest.

Dancing w/the Stars5.7M Likes Facebook.645k Followers Twitter.603k Followers Instagram.6k Followers Pinterest.

NFL12M Likes Facebook.10.9M Followers Twitter.519k Followers Instagram.20.5k Followers Pinterest.

Page 7: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

BRANDS Investing on Social Media (2of 2)

Talk directly to your customers on social media – where they are anyway.

Nat’l Multifamily1k Likes Facebook.1.8k Followers Twitter.0 Followers Instagram.0 Followers Pinterest.

Apartments.com106k Likes Facebook.8k Followers Twitter.173k Followers Instagram.3.5k Followers Pinterest.

Gables Residential3.4k Likes Facebook.1.4k Followers Twitter.462 Followers Instagram.542 Followers Pinterest.

Apartment Guide163k Likes Facebook.18k Followers Twitter.519k Followers Instagram.6.6k Followers Pinterest.

Cortland Partners387 Likes Facebook.181 Followers Twitter.0 Followers Instagram.7 Followers Pinterest.

National Apt. Assoc.10.4k Likes Facebook.13.5k Followers Twitter.174 Followers Instagram.22 Followers Pinterest.

Page 8: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

The top 15 social media websites and unique monthly visitors.

LEVERAGE – social media is huge.

Page 9: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

ONLINE WORLD - residents live there.The online world has exploded with content and your residents can be found there.

Page 10: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

TECHNOLOGY makes it simple.

• Simple – The software is easy to set up, simple to learn and simple to use.

• Automated – Many functions are automated to minimize work for the leasing staff.

• Discretionary – Leasing staff via the app are empowered to award points to residents.

• Immediate – When points are awarded, residents immediately get a txt…powerful.

• Dashboard – The app is controlled via a simple cloud-based management dashboard,

that all levels of the leasing team can access based on permissions. All functions of the

software including budgets are controlled here and all metrics can be seen.

Page 11: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

TECHNOLOGY makes it easy.

• Check In – The software makes it very easy for leasing staff to award

points for referred prospective residents visiting the leasing office for a tour.

• Communications – The app makes it very easy for leasing staff and

residents to communicate. The app ties into everyone’s existing email, txt,

social media accounts.

• Video – Leasing staff can easily send short videos to residents to

welcome them and/or for a job well done.

• Voice Recognition – Many things on the app can be done via voice,

virtually eliminating time searching.

Page 12: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

Opportunity #2: Happy residents refer others and make the decision to stay themselves.

TURNOVER – rates are above 45%.

Over 35M Americans move each year, roughly 12% of the population (U.S. Census Bureau).

Some of these residents could be persuaded to stay if given the right incentives, well before a decision to move takes place.

TI makes it super easy to engage current residents in the marketing efforts of the property thus reducing/vacancy.

Page 13: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

Many expect the vacancy rate to increase as supply meets/exceeds demand.

VACANCY RATE – expected to increase.

Page 14: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

THE BIG IDEA (2 of 2)

A ‘frequent flyer program’ for current residents that help you market your properties.

Big DataKnowing more/predicting outcomes.Managers/owners can learn much more about their residents and be in a better position to predict outcomes. Big data, data mining and predictive analytics can be very useful tools to decrease turnover and increase occupancy rates.

Reward BehaviorIncentivize Desired Behavior.

Residents want to know that their efforts to help make a difference. TI allows management to directly reward positive behavior.

Lots of NoiseProspects Forget Quickly.Life is too busy for management to rely on just paid advertising to drive traffic. Prospective residents can be greatly influenced by their friend/family’s posts on social media, review sites, email, etc.

Convenience WinsMake It Easy to Participate.Companies like Amazon understand how important convenience is to people today. TI makes it super easy for residents to win by helping management market properties.

Page 15: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

REWARDS what kind of rewards?

PHOTOPHOTO

‘GIANT’ Awards

• BIG prizes – not points-based.• Awarded – not rewarded.• Company-Wide – combined.• Tag-IT – combined customers.• Social Media – great value.

PHOTOPHOTO

Rewards That Cost $

• Catalog – merchandise/travel. • Gift Cards – many brands.• Amenities – not planned.• Discount – discounted rent.

PHOTOPHOTO

No/Low Cost Rewards • ‘Thank You’ – know who to thank.• ‘Party’– party at the property.• Discounts – at local merchants.• Late Rent –without penalty.• Insufficient-funds pass.• No rent increase.• Amenities – priority upgrades.• VIP Parking – assigned spot.• Deposit – returned to tenant.• Lease Equity - % given.

TI allows virtually any type of reward, including ‘GIANT’ Awards!

Page 16: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

HOW residents get rewarded (1 of 2)Residents can accumulate points in a variety of ways.

Social Media – Liking.Liking your pages.

Residents get points for liking any and all social media pages created by the property.

Social Media – Sharing.Sharing your content.

Management determines which content is ‘reward eligible’. Residents earn points for sharing with their friends/family.

Posting Comments.Posting comments on review sites.Points are awarded when residents post reviews on review websites.

Completing Survey.Giving substantive feedback.

Surveys can help management identify areas of improvement and facilitate communication with residents. Residents can be given reward points for their participation.

Installing The App.Installing the app gets rewarded.Installing and using the Tag-IT app generates points for the resident. The resident is also awarded points when their friends/family install and use the app.

Building Community.Resident volunteers time.When a resident volunteers their time to build community at the property (running a kids club, teaching a skills class, welcoming/social committee, etc.) management can award them points.

Page 17: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

HOW residents get rewarded (2 of 2)Residents can accumulate points in a variety of ways.

Other.Reward the behavior you seek.

The list of possibilities for using points to reward behavior and build brand loyalty is virtually unlimited. Examples – successful inspection, no complaints from neighbors, put bumper sticker on vehicle, sit on resident advisory committee, etc.

Shopping For Apartment.Friend/Family uses app to shop.The app makes it easy to get further information about a property even while driving by. Any time a friend/family (prospective resident) uses the app to get further information about a property, the resident is awarded points.

Visiting Leasing Office.Friend/Family visits leasing office.

When a friend/family member actually visits the leasing office for more information/tour, the resident can be awarded points.

Signing New Lease.Friend/Family signs new lease.When a friend/family member signs a new lease (also, when they renew), the resident is awarded points.

Renewing Lease.Resident renews lease.

Paying Rent On-Time.Resident pays rent on-time.Each time the resident pays their rent on-time, they are awarded points. The longer the streak of on-time payments, the greater the reward.

When the current resident renews their lease or moves to another property in the same company, they receive points. This encourages brand loyalty.

Page 18: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

FOCUS on your best residents. (1

of 2)Rewarding your BEST residents is good business.

The Leaders.Their friends look to them.These people not only have many friends, they have great influence over their friends. What they say matters and people are paying attention. Get them on your team.

The Workers.Building community takes work.

These are the folks that take pride in their surroundings. They want to be part of the community and are willing to volunteer their time/energy to make it a better place. Make sure that they feel valued and appreciated.

Mr. On-Time.They do what they say…every time.It is a matter of personal pride. These people are on-time, they pay on-time, they do what they say. Letting them know that it is very much appreciated and recognized is important.

The Opinionated.People are thinking something.When people share their thoughts, they want to feel that their opinions matter. Time is precious and thinking is hard work. Let them know upfront that you value that feedback by rewarding the effort – regardless if the feedback is positive or negative. Filling out surveys and getting this information is vital to continued success.

The Well Connected.She can reach people you can’t.If these people live at your property, you want them saying good things about it…period. They can have thousands of friends on Facebook and each of their friends have friends and so on. The math gets crazy in a hurry…incent them to help you.

The Critiquer.Putting their opinions on the Internet..

These are the people that fill the Internet review sites with comments about all kinds of things that they use. You want to know what they are saying and build the relationship.

Page 19: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

FOCUS on your best residents. (2

of 2)Rewarding your BEST residents is good business.

The Curious.Rewarding the curious.If prospective residents become interested in your property and come by for a visit, why not reward their efforts and show that you appreciate their time.

Nice Guys/Gals.They make great neighbors!These are the people who always have a kind word to say. They are pleasant to be around - really good neighbors. Keeping them at your property is an investment in keeping your other residents happy.

The Organizer.They get people together.

Some people are really good at organizing things. They like doing fun things with their neighbors and if encouraged, they can add new ideas to the social calendar of your tenants.

The Contented.Don’t take them for granted.

In the rush to get new residents, it is easy to overlook the people that quietly just keep paying, keep renewing, keep being ideal residents.

Others.People want to feel appreciated.Everyone is different but everyone wants to feel appreciated. Spending time and other resources on appreciating residents is a great investment in making sure that they remain happy and refer others.

Even the toughest person needs a little Love. Reaching out to a tenant who needs a boost and rewarding them is all that is needed.

The Needy.A little Love is needed.

Page 20: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

OVERVIEW - product

Tag-IT (TI) is a really cool and simple way to let tenants receive reward points for their behavior.

TI makes it super easy to engage current residents in the marketing efforts thus reducing turnover and vacancies. Residents and prospective residents will use TI because it is fun and allows them to redeem their points for desirable rewards.

Page 21: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

TECHNOLOGY makes it possible.• Social Media – 800M will sign onto Facebook today, 1.4M have a Facebook account

(largest country on earth), avg. # friends is 338, a person with 500 friends can reach a

potential 169k (500 * 338).

• Smartphones – 2/3 of Americans have one. 183M smart phones U.S. by 2015/220M

by 2018. Phones are fast, capable hand-held computers. iPhone 6 sold >100M.

• Mobile Networks – LTE networks fast and coverage is good. Speeds up to 100mbps.

• Content – User generated content is highly trusted vs paid content. Facebook, Twitter,

Yelp!, Urbanspoon, OpenTable, TripAdvisor, BBBOnline, Youtube, AngiesList, etc.

• GPS – Very accurate and improving GPS modernization plan (L1 C/A, L2C, L5 & L1C)

–greatly improve every facet of GPS civil use. Total of 24 GPS satellites in orbit.

• Voice Recognition – Google, Apple and Microsoft all have voice recognition

embedded in their mobile devices. Third-parties are offering independent solutions.

Technology is developing rapidly and a preferred input method by many people.

• Big Data – Today, successful companies are using big data, data mining and

predictive analytics to learn who their most successful customers are and to predict

outcomes. This trend is only growing stronger as more companies see its value.

Page 22: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

HOW does It Work?

Step

2: T

enan

t get

s ap

p

Install TI App - Simple to

understand, zero learning curve.

Earn Rewards - Management

identifies ways that residents

can assist in the marketing

efforts – these are easy to find

in the TI app. Residents can

transfer points to others –

including apartment staff.

Results Delivered - Each time a

resident takes action, they can

see their reward points grow.

This can be very motivating.

Management can also

personally ‘thank’ residents that

are participating in the effort.

Step

1: M

anag

emen

t se

ts u

p ac

ct Set Up TI Account - Establishing

account only takes minutes. Fun,

easy-to-understand.

Mobile App - Each person on the

apartment management team

installs the TI mobile app. Making

it easy to award points to any

resident at any time.

Step

3: M

anag

emen

t pro

mot

es

TI

Promotion – Management makes

sure that all residents know about

the TI app and its purpose.

Recognition – Management must

recognize the success residents

are having with the TI app and

encourage usage.

Tag-It is simple & easy-to-use for the resident and the apartment staff!

Page 23: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

MARKETING using Tag-IT.Successful businesses know that they must capture customer interest as early as possible.

In marketing any business, there are four basic steps:

1. IMPRESSIONS – You have to continuously generate favorable impressions on your audience, while keeping costs low for each impression. It is vital that you capture your potential customer’s initial interest at the moment they are thinking about your product or service. Otherwise, you become lost in the shuffle of life and have no way to further the relationship.

2. AWARENESS – The impressions generated in step #1 above will create awareness in the mind of your target audience and when pared with the right technology to capture and cultivate the interest, you can turn these people into customers. Due to the high ‘noise levels’ in many people’s lives, many impressions are needed to ‘break though the noise of life’.

3. ENGAGEMENT – Assuming that your business story is compelling and you provide the right tools to capture interest, you will see an ever-increasing audience building for your product or service. At this stage, your audience is actively listening to what actions you want them to take.

4. ACTION – At this point, your audience is ready to take the desired action that you had in mind – buying your product or service, making donations, volunteering, etc. In addition, if your audience gets to the action stage, they are likely to introduce others to your business. Now you are seeing a ‘multiplier effect’ on all of your efforts with your customer’s help by introducing others to your business.

Page 24: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

WHAT does Tag-IT cost?

PricingResidents – FREE (makes them reward points).

Apartment Managers/Owners – $89/month or $890/year (per 200

units) or $0.37/month per unit (paid annually).

Tag-It is FREE for residents & charges apartment owners.

Page 25: Tag it executive summary (slideshare version) - friday, 4:10:15 - (gigi giannoni, gables residential, friday 4-10-15)

Contact Information:

Presented By: Jim Grady, Tag-IT, LLC

www.mytagit.net, [email protected], 678-918-4538