How multifamily executives can use social media for their business. Originally presented by Greg Starr from Property Centric and Mike Whaling from 30 Lines on October 14, 2009.

1. Social Media
For Multifamily Executives
Greg Starr and Mike Whaling
October 14, 2009

2. Today
>> Why bother?
>> How your organization can bene t
>> How to develop your strategy
>> What you can expect

3. www. ickr.com/photos/urbanelife/3183422847
“Social media” is people
having conversations ... online.

4. Those conversations are powered by...
• Social networks • Widgets
• Blogs • Social bookmarks
• Online chat • Message boards
• Podcasts • Photo sharing
• RSS • Video sharing
• Microblogs • Wikis

5. TheConversationPrism.com
A set of communication tools

6. >> It levels the playing eld
by giving you a voice.
>> It gives you a direct connection
to your customers.
>> It gives your customers a direct
connection to each other.

7. Understand your audiences.
Your message. Your goals.

8. Where does it t?
>> Public Relations
>> Marketing
>> Customer service
>> Resident retention
>> Recruiting
>> Internal communications and training

9. Use the right tool for the job.
www. ickr.com/photos/tashland/259178493

10. “We’re just AWESOME...”

11. Work it into your business.

13. Make a name
for yourself
by caring.
www. ickr.com/photos/27403767@N00/2355638110

14. So what can you do?

15. De ne Your Strategy
>> Listen to the market
>> Claim your presence
>> Build your network
>> Steer the conversation
>> Work it into your business

16. Stop shouting ... start listening.

17. Claim your presence.

18. Build your presence.
>> Create communication hubs.
>> Set up outposts.
>> Keep the message consistent.
>> Don’t forget maps and listing sites.
>> Keep them current.

19. Be approachable.

20. Joining the conversation:
>> Learn the rules.
>> Be interested. Be interesting.
>> Leave a trail.
>> Start courting customers and in uencers.

21. It’s not about you.

22. Play DJ.

23. What metrics are you using?

24. Marketing
>> Increased traffic to website
>> Better traffic to website
>> Increased % of lease conversions
Branding
>> Increased presence on search engines
>> Responsive on ratings/reviews sites
>> Increased % of lease conversions
Customer Service
>> Higher ratings
>> Increase in resident testimonials

25. Web traffic
Resident communication Advertising costs
Feedback Newsletter costs
Retention Turnover
Brand presence Concessions
Value
Rents

26. Obstacles

27. Obstacles
>> “What if somebody says something bad?”
>> “What’s the ROI?” (Risk Of Inaction)
>> “It’s a fad.” (Fundamental change in habits)
>> “I don’t have the time.”

28. Making it work for your company
>> Develop policies that ts your team
>> Communicate goals, de ne roles
>> Provide tools to help staff succeed
>> EDUCATE
>> Understand regulations (FTC)

29. How does it all t together?

31. Urbane goals:
>> Reduce spending on paid listings.
>> Build sense of community and exclusivity.
>> Sell a lifestyle and experience.

32. Give residents their own space.

33. Become a community hub.

34. Ask for the review.

35. How they make it happen.

36. Urbane results:
>> Website traffic up 65%.
>> Blog traffic grows 35% monthly.
>> Participation in Urbane Lobby up 400%.

37. More results:
>> Little paid advertising over past year.
>> Nearly 100% increase in lease conversion.
>> Rents 3-4x higher than local competition.
>> Brand awareness drives retention.
>> Avg. cost per lease = $130.

38. Urbane results:
One more bene t...

39. Urbane results:
One more bene t...

40. What now?

41. Look at the whole picture.
>> Your brand is how people perceive you.
What other say about you is more
important than ever before.
>> Like it or not, social media leads to
conversations about your company.
Participating helps you control the
message.

42. Test the water.

43. Have fun.
www. ickr.com/photos/27403767@N00/2355638110

44. www. ickr.com/photos/cardopoli/219069323
Companies can’t hide anymore.

45. What’s your bigger idea?

46. #AptChat
twitter.com/aptchat

47. Industry sites and resources:
>> Multifamily Insiders
>> Resident 2.0
>> LinkedIn groups
>> Twitter contacts

48. Multifamily in uencers:
>> Eric Brown: @Eric_Urbane
>> Lisa Trosien: @LisaTrosien
>> CharityHisle: @CharityHisle
>> Heather Blume: @artchickhb
>> Brent Williams: @brentwilliams2
>> Eric Wu: @RentWiki
>> Resident 2.0: @resident20

49. Keep learning:
>> Groundswell
>> Trust Agents
>> Cluetrain Manifesto
>> Tribes
>> SocialMediaToday.com
>> MarketingProfs.com
>> Hello! My Name is Scott.

50. Greg Starr Mike Whaling
877.512.5500 386.795.8000
gstarr@propertycentric.com mike@30lines.com
propertycentric.com 30lines.com
twitter.com/gregstarr twitter.com/30lines
facebook.com/gregstarr facebook.com/30lines

51. Let’s talk.