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Marketing to gen yers and boomers presentation

  1. 1. Marketing to Gen-Yers and Boomers: Using Social Media and More JANUARY 23, 2013 // 2:30 – 4:00 PM Presenter(s): Todd Harff // Creating Results, Woodbridge, VA Nicole Conniff // Irvine Company, Irvine, CA Cheryl Urban // Equity Residential, Chicago, IL Lynn Klug // Greystar, Irvine, CA
  2. 2. Cheryl Urban Equity Residential
  3. 3. Marketing to Gen-Yers and Boomers: Using Social Media and More Generation Y and Baby Boomers are two generations apart - but have more in common than you might think. Together, these two massive demographic groups will drive the apartment industry for the foreseeable future. In this session, developers and marketing professionals will explore successful marketing strategies, including the wide range of social networking tools, currently available for attracting these demographics.
  4. 4. Todd Harff Creating Results
  5. 5. Boomers: • Born between 1946 and 1964 (49-67 years old) • 78 million strong • Desire both personal and financial fulfillment • Most economically diverse cohort Source: The Nielsen Company: Introducing Boomers: Marketing’s Most Valuable Generation
  6. 6. Gen Y (Millennials): • Born between 1982 and late 2000 (13-29 years old) • Easily adopt to using new media- including social networks and SMS/text messaging • High importance placed on social aspect of life • Entry intoImage first jobs greatly impacted by recession but are upbeat about future • Most ethnically and racially diverse cohort
  7. 7. Source: Pew Research
  8. 8. Source: Pew Research
  9. 9. Source: Pew Research
  10. 10. Change in Social Media Use by Age/Time 100% 90% 80% 70% 60% 18‐29 50% 30‐49 40% 50‐64 30% 65+ 20% 10% 0% Feb 05 Aug 06 May 08 Apr 09 May 10 Aug 11 Feb 12 Aug 12 Source: Pew Internet & American Life Project Surveys, March 2005-February 2012
  11. 11. By the Numbers: Social Media Tendencies Source: May 2012 Google Ad Planner; © 2012 Creating Results
  12. 12. Case Studies - 50+ Social Media Engagement 1. Make it Authentic 2. Provide Meaningful Updates 3. Make it Easy to Engage 4. Showcase Shared Values and Desires
  13. 13. Case Study:
  14. 14. Case Study:
  15. 15. Video roll-out by email: click through rate 3% higher than list average
  16. 16. Case Study– Gen Y Social Media Engagement 1. Be Visual 2. Mix of Messages ~ Community Specific, Lifestyle, General Engagement ~ Higher frequency required 3. Focus on Customer Service ~ Be transparent ~ Be responsive
  17. 17. Case Study:
  18. 18. Best Practices- Goals 1. Overall Marketing Goals ~Extend reach ~Build the brand 2. Social Media Marketing Objectives ~Use analytics to gain target/competitive insights ~Enhance SEO ~Drive to website/convert leads to new residents 3. Social Media Marketing Strategy ~Integrate with marketing/operations
  19. 19. Best Practices- Content Calendar
  20. 20. Best Practices-Calls to action • Promote events, content with links to your website • Contact information • Highlight desired action
  21. 21. Best Practices WIIFM
  22. 22. Generating Leads via Social Media: 1. Pick Appropriate Avenues ~ Refer to web statistics for highest where referrals ~ Focus efforts there 2. Messaging Frequency Counts ~ Ensure visibility in timelines and feeds ~ Pick a frequency and stick with it ~ Seek out opportunities to increase activity and engagement (count downs, photo gallery, submissions, etc.) 3. Know Your Goals in Advance
  23. 23. Nicole Conniff Irvine Company Apartment Communities
  24. 24. Steps to Social Media “Evolution” at a company • Social Monitoring and Reporting • Ratings and Reviews Communication Strategy • Social Media Advertising • Social Marketing Profiles
  25. 25. Social Monitoring and Reporting
  26. 26. Social Monitoring Reporting & its impact on the customer experience and business practices • Select websites you want to monitor – Yelp (50%), ApartmentRatings (40%), Facebook (7%), and Google Places (2%) and Youtube (1%) • Expected Volume = 6 reviews/year/community • Categorize comments and record customer sentiment for both positive and negative • Categories may include: staff, amenities, maintenance, community, location, construction, parking, pets, security • Evolve your culture to embrace feedback as a way to improve the customer experience. You MUST change! • Case study – Our move-in and move-out process changes
  27. 27. Our Customer Comments Move-In: Absolutely horrible…the apartment me and my I was told when signing my lease that I would not be friends were promised wasn't given to us. We requested a 2 charged for painting, but as I put in my notice, I was bedroom/2 bathroom upstairs room and ended up with a 2 told I would be charged not only for painting the entire bedroom/1 bathroom…I called to confirm that we'd be moving apartment, but cleaning, AND new carpeting. in on our move-in date. THE ROOM WASN'T EVEN READY!!!! The woman I talked to said it wouldn't be ready until the next day.... Luckily, they finished in time and we moved in. Talk about gross. The carpets were still dirty, the paint was barely dry on the walls and it still smelled like You are "required" to provide WRITTEN notice that cleaning fluid. you intend to vacate at the end of your lease. I received the note at my door and went to the office and told the staff we intended to vacate…they said they'd make a note and that I was good. When I looked on my last month's bill it was more than my We scheduled a pre move out inspection twice lease…because I didn't give a written notice it and no-one showed up and also a final walk automatically went month to month and I had to pay… through and no-one showed up. Due to deposit issues, I would not recommend this place, like a person in the other review said they do not care about you at move-out time.
  28. 28. Ratings and Reviews Communication Strategy
  29. 29. Ratings and Reviews Communication Strategy • Use reviews as a tool to challenge your current practices and make changes to result in fewer negative comments • Should you choose to respond, purchase your Yelp listing • Designate speaker(s) for the company – decentralized or centralized approach to responses • Devise a communication strategy to respond publically or privately to posts • Vet out all communications with your public relations/marketing, legal and operations teams
  30. 30. Yelp Business Listing Advantages • On demand review alerts • Clean up location data across Yelp ecosystem (mobile, desktop, Apple Maps) • Control photos & messaging across Yelp ecosystem • Removal of competitive brand & local competitive ads from community profiles • Track all data measurements
  31. 31. Without Enhanced Profile
  32. 32. With Enhanced Profile Enhanced Photo Removal of Slideshow with Video Display Ads Available Directory Info Tracking Links Cleanup Post Current Calls to Actions Removal of Local Competitor’s Ads Extended Business Information Section
  33. 33. Business Owners Account – Reviews
  34. 34. Business Owners Account – Stats • Learn about your page’s interactions
  35. 35. Social Media Advertising
  36. 36. Relative Costs for Internet Advertising
  37. 37. Facebook Content Display Ads Facebook advertising allows for highly targeted ads to be served based upon user profiles, interests, or trending topics. This level of user contributed targeting exceeds that of traditional networks or direct site buys. • Increase social engagement • Drive volumes of traffic to your website • Promote products, services and promotions • Extend reach onto complimentary products or services • Integrate marketing communications strategies
  38. 38. Facebook Advertising Expectations of Performance: • CPC = $1.65 • CTR = .04%
  39. 39. YouTube Advertising Target your audience by age, gender, interests and geo and keywords
  40. 40. Yelp Advertising Search Display & Banner Ads
  41. 41. Social Marketing Profile
  42. 42. 2,000 followers engage with our daily content @Rental_Living Demand Shaping Giveaways Synergy Wahoo’s Contest – 3 months; 2x per week drawing of a winner
  43. 43. Incorporating social media in your own marketing communication vehicles
  44. 44. Cheryl Urban Equity Residential
  45. 45. Cooking Ashley Shyn Aaron Thomas Nicole Butler Nicole
  46. 46. Lynn Klug Greystar
  47. 47. Challenges with Social Media Implementation • Property portfolio of 700+ communities nationwide with more than 200,000 units • Mix of predominantly third-party communities and some Greystar- owned communities • 26 Marketing Associates based throughout the country • Profitable operations and controlled expenses are driving management goals at our company
  48. 48. Challenges with Social Media Content • Time management challenges if on site teams or Community Managers are tasked with the creation of content  Don’t allow team members to prioritize social media time before leasing, sales, or resident customer service  Must have point person with high level of trust who monitors content to ensure it is professional and appropriate  Must ensure that content is kept fresh
  49. 49. Solution for Content Challenges - Outsource • Outsource social media management  Utilize only recommended vendors • Monitor your vendors’ activity levels and posts –  Minimum 4x posting per month  Full service management of Facebook and Twitter pages  Blog expectation parameters pre-defined  Email alerts  Regular social media activity reports
  50. 50. Social Media Vendor Reports • Facebook: Total reach, friends of fans, people talking about this; page posts, male vs. female, age, cities/countries, etc. • Twitter: Posts, replies, retweets, other mentions, etc. • Yelp, other rating sites • Google analytics assessments and recommendations; referring sites
  51. 51. Reasonable Social Media Expectations • Generally not a source of leasing traffic • Considered the equivalent of a community newsletter MAIN FOCUS FOR 2013: 1. REPUTATION MANAGEMENT 2. MOBILE/TABLET MARKETING 3. DIGITAL FOCUS AND ENHANCEMENTS – PAY PER CLICK & REMARKETING CAMPAIGNS AS TRAFFIC DRIVERS
  52. 52. Todd Harff Creating Results
  53. 53. Social Media Success with Gen Yers & Boomers 1. Know your audience and their preferences 2. Have a clear strategy ~ Directories, Traditional Social, Advertising, SEO, Mobile, Integration 3. Identify the appropriate resources 4. Set your budget and ID Leaders 5. Define your goals 6. Manage your reputation 7. Measure your results and adjust
  54. 54. Speaker Contacts: Todd Harff Lynn Klug Creating Results Greystar Woodbridge, VA Irvine, CA 703.494.7888 ext 7013 Email: Web: Blog: Nicole Conniff Cheryl Urban Irvine Company Equity Residential Irvine, CA Chicago, IL
  55. 55. IBS Education National Association of Home Builders 1201 15th Street | Washington, DC 20005 800-368-5242 |