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
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Marketing to Gen-Yers and Boomers: Using Social Media and MoreJANUARY 23, 2013 // 2:30 – 4:00 PM
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.
Todd HarffCreating Results
• Born between 1946 and 1964 (49-67 years old)
• 78 million strong
• Desire both personal and financial fulfillment
• Most economically diverse cohort
Boomers:
Source: The Nielsen Company: Introducing Boomers: Marketing’s Most Valuable Generation
Gen Y (Millennials):
Image
• 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 into first jobs greatly impacted by recession but are upbeat about future
• Most ethnically and racially diverse cohort
Source: Pew Research
Source: Pew Research
Source: Pew Research
Source: Pew Internet & American Life Project Surveys, March 2005-February 2012
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Video roll-out by email: click through rate 3% higher than list average
1.Be Visual
2.Mix of Messages~ Community Specific, Lifestyle, General Engagement~ Higher frequency required
3.Focus on Customer Service ~ Be transparent~ Be responsive
Case Study– Gen Y Social Media Engagement
Case Study:
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
Best Practices- Content Calendar
Best Practices-Calls to action
• Promote events, content with links to your website
• Contact information
• Highlight desired action
Best Practices WIIFM
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
Nicole ConniffIrvine Company Apartment Communities
Steps to Social Media “Evolution” at a company
• Social Monitoring and Reporting
• Ratings and Reviews Communication Strategy
• Social Media Advertising
• Social Marketing Profiles
Social Monitoring and Reporting
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
• 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
Our Customer Comments
You are "required" to provide WRITTEN notice that 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 lease…because I didn't give a written notice it automatically went month to month and I had to pay…
Move-In: Absolutely horrible…the apartment me and my friends were promised wasn't given to us. We requested a 2 bedroom/2 bathroom upstairs room and ended up with a 2 bedroom/1 bathroom…I called to confirm that we'd be moving 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 cleaning fluid.
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.
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.
I was told when signing my lease that I would not be charged for painting, but as I put in my notice, I was told I would be charged not only for painting the entire apartment, but cleaning, AND new carpeting.
We scheduled a pre move out inspection twice and no-one showed up and also a final walk through and no-one showed up.
Ratings and Reviews Communication Strategy
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
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
Without Enhanced Profile
With Enhanced Profile
Removal of Display Ads
Tracking Links
Removal of Local Competitor’s Ads
Directory Info
Cleanup
Post Current Calls to Actions
Extended Business Information Section
Enhanced Photo Slideshow with Video
Available
Business Owners Account – Reviews
Business Owners Account – Stats • Learn about your page’s interactions
Social Media Advertising
Relative Costs for Internet Advertising
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
Facebook AdvertisingExpectations of Performance:• CPC = $1.65• CTR = .04%
YouTube Advertising
Target your audience by age, gender, interests and geo and keywords
Yelp Advertising
Search Display & Banner Ads
Social Marketing Profile
2,000 followers engage with our daily contentDemand Shaping
Giveaways
Synergy
Wahoo’s Contest – 3 months; 2x per week drawing of a winner
@Rental_Living
Incorporating social media in your own marketing communication vehicles
Cheryl UrbanEquity Residential
NicoleNicole Butler
Aaron Thomas
CookingAshley Shyn
Lynn KlugGreystar
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
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
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
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
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
Todd HarffCreating Results
Social Media Success with Gen Yers & Boomers
1.Know your audience and their preferences2.Have a clear strategy
~ Directories, Traditional Social, Advertising, SEO, Mobile, Integration
3. Identify the appropriate resources4.Set your budget and ID Leaders5.Define your goals6.Manage your reputation7.Measure your results and adjust