Leveraging Social Media Marketing in the Apartment Industry

Leveraging Social Media Marketing in the Apartment Industry Erica Campbell Sr. Manager, New Media Marketing For Rent Media Solutions

Agenda Did you know? Debunking social media myths Benefits of social media 11 steps for building a social media strategy How is social media being used? Tips & advice Examples of brands using digital and mobile media

Over 50% of the world’s population is under 30 years old Source: US Census Bureau

96% of Millennials have joined a social networking site Source: Mr. Youth and RepNation Media (April 2008)

Average family phone call today

50 million tweets per day — that's an average of 600 tweets per second Source: Twitter Blog

YouTube is the second largest search engine

99% of companies use social media for recruitment Source: Survey by OSCAR, talential, squeaker.net usage

Russia has a population of 142M. That’s not even half of Facebook’s user base Facebook has more users than there are people in the U.S. If Facebook were a country, it would be the 3rd largest country in the world (behind China and India) Source: Facebook

4 billion+ photos hosted & 4.8 million things were geotagged this month Source: Flickr

People who use mobile devices are 50% more active on social sites 4 mobile phones were sold for every PC sold in 2009

25% of search results for the world’s Top 20 largest brands are linked to user-generated content Source:: MarketingVox and Nielsen BuzzMetrics

Social media marketing spend will reach $3.1b in 2014 Source: Forrester Research

“ A conversation or experience shared between people, powered by technology and online tools ” Social: Human interaction Media: Vehicles to carry messages

Social Media Myths MYTH! Social media is free Fact: While most social media sites are free to use, the time dedicated to maintaining these efforts is not. Sites like Facebook® and Twitter® need to be updated just like print ads. Social media takes time and time is money! MYTH! Anybody can do it Fact: While anyone can participate in social media, you must determine your brand’s social media strategy. Who is the best person to represent the brand and implement the strategy? MYTH! Build it and they will come Fact: Social media is NOT an overnight process. It requires time and dedication. Give consumers a reason to flock to your page! This requires engaging with them on their terms.

Social Media Myths MYTH! Social media is all I need Fact: Social media is not meant to replace other marketing efforts, but rather complement them. It is more successful in combination with other media (e.g., print, mobile marketing, text messaging, web site, email marketing). MYTH! Social media is just for young people Fact: The fastest growing segment on Facebook is 55-65 year old females. Determine your demographics and find them in the social space; participate and engage! MYTH! Social media invites negative comments Fact: Negative comments can be posted on social media sites whether your brand is there or not! Don’t combat or ignore a negative comment; respond by providing customer service. Turn those customers into brand evangelists by listening and taking action.

Increase Brand Exposure & Site Traffic Encourage Referrals & Build Loyal Advocates Create Buzz for Events & Promotions Gain New Influentials Build Relationships Gain Customer & Market Insights Google Juice, Google Juice, Google Juice! Benefits of Social Media

Social Media Influences Purchase Decisions 91% say consumer reviews are the #1 aid to buying decisions1 78% of consumers trust their peer recommendations Online social network users were 3X more likely to trust their peer’s opinionsover advertising when making purchase decisions3 26% of search results link to user-generated content4 77% of prospects use reviews and ratings when shopping Source: 1 JC Williams Group, 2 Marketing Sherpa, 3 Jupiter research, 4Nielsen Buzz Metrics

11 Steps for Building a Social Media Strategy

11 Steps for Building a Social Media Strategy Listen Develop Internal Resources Define Objectives & Goals Identify the Landscape Discover the Influencers Develop a Content Strategy Select your Channels & Tools Publish & Integrate your Content Engage your Customers & Critics Measure your Results Tweak your Strategy

Listen: Monitor and protect your brand on the Internet using these tools: Global Internet: Google Alerts, SocialMention, RSS Feeds, Trendrr, monitorThis Blogs and Microblogs: Twillerts, Technorati, Twitter Search, Google Blog Search, SocialOomph, TweetDeck, HootSuite, Seesmic, IceRocket, Monitter Facebook: Facebook Insights, SocialOomph Video Sharing Sites: YouTube Insights, YouTube Comment Alerts Paid Services: Nielsen BuzzMetrics, Radian6

Listen: Community Chatter Do you care? Will you respond? Will you apologize? Will you rebut? Who will be in charge of responding, apologizing and rebutting? What will you do if someone says something bad but it’s not about you, its about their neighbors or your prospects?

Social Media Training Step 2 Develop Internal Resources

Develop Internal Resources: Publish and Distribute a New Media Policy When are your employees your employees? Are you responsible for their actions when they are “on the clock”? Are you responsible for their actions when they are on their own time? Consider your audience and be authentic Remember to protect proprietary and confidential information Develop a Training Program What training are you going to provide for your employees? Proper use of your social media Proper use of social media in their lives

Friending your manager on Facebook and then complaining about your job can get you fired

“ There’s nothing new about employees behaving badly, but technology will always offer up new avenues to shock, intimidate and offend. ~ Shanti Atkins, CEO of ELT, Inc., specialists in online ethics ”

The legal stuff: Social media marketing is advertising, so the rules and laws related to advertising apply… Use the logo!

Remember Fair Housing Do not suggest “any preference, limitation or decimation” based on: Race Color Religion Sex Disability Familial Status National Origin

Step 3 Define Objectives & Goals

Define Objectives & Goals: Increase Brand Awareness: Create a general hype & enhance a product or service Increase Reach: Broaden reach of core company's target audience Generate Leads & Data: Improve referrals & retention Gain Content or Consumer Insight: Repurpose for future marketing initiatives Humanize your Voice: Engage socially, build relationships, reward your customers, and drive fan acquisition Gain Competitive Edge: Offset new competition

Identify the Landscape: Where are your consumers engaging with your brand? Online searches Social networks and video/photo sharing sites Mobile websites and apps Email Outdoor Print media Review sites and local business sites: Yelp.com, Foursquare, ApartmentRatings.com, Amazon.com, Edmunds.com, TripAdvisor.com, YellowPages.com ASK THEM

Step 5 Discover the Influencers

Discover the Influencers: Here are some tips on how to identify them: Identify key players online and off: Are they young, tech-savvy professionals, bloggers, trendsetters, students, locals? Conduct research: Use search, keyword and analytic tools, consider inbound links, surveys Look for patterns: Who is retweeting, Facebooking, bookmarking and commenting? Share of voice: Look for high follower/subscriber counts, multiple active discussion threads or responses, frequent posts/updates

Step 6 Develop a Content Strategy

Develop a Content Strategy: Things to consider in your strategy: What is your mission statement, brand position or brand promise? What is your brand personality? What is your brand identify? What differentiates your brand? What is your company story? What do want your customer experience to feel like? Identify types of content

Use the power of storytelling and information to market your ideas

Content strategies must be supported by tactics: Strategy: Communicate Tactics: content, blogging and microblogging, video sharing, photo sharing, podcasting, media assets Strategy: Connect Tactics: social networks, print, Internet, mobile, outdoor, radio, TV Strategy: Collect/Categorize Tactics: social bookmarks Strategy: Customize Tactics: RSS, Widgets, Share Strategy: Conversation Tactics: comments, Q&A sites, reviews, forums

Step 7 Select your Channels & Tools

Select your Channels & Tools: Connect them to your goals and objectives: Increase brand awareness and reach: Facebook, Twitter, blogs, mobile, email, video sharing sites, print, TV, radio, outdoor Humanize your voice: YouTube, Flickr Provide thought leadership and credibility: LinkedIn, Plaxo, forums, niche sites Improve search engine rankings: Facebook, Twitter, YouTube, RSS, blogs Improve sales/services/retention: Email, surveys, social networks, online communities

Step 8 Promote & Seed your Content

Promote & Seed your Content: Have an integrated strategy ,[object Object]

Blogs & Social networking sites

Blogger outreach,[object Object]

Hello! Step 9 Engage your Customers & Critics

Engage your Customers & Critics: Tips to help increase engagement: ,[object Object]

Vary content types and sources

Offer incentives and reward customers

Encourage re-posting ,[object Object]

Measure your Results: Categorize your metrics: ,[object Object]

Impact- how your efforts change consumers’ actions or opinions

Quantity- how many consumers interact with your initiatives

Quality- strength and depth of consumers’ interactions with your initiatives

Sentiment-how did they feel about what they read?

Tweak your Strategy: Constantly refine your strategy and tactics: ,[object Object]

Evaluate the content and frequency

Evaluate the landscape and tools

Continue to identify key influencers

How is Social Media Being Used?

“If Only Your Apartment Furniture Could Talk”Video Contest 20% boost in college age visitors to site Direct navigation increased 57%

“Ready2Move?” Video Contest 24,000 79,000 335,000 Votes Unique Visitors Pageviews

Facebook: FBML, Polls, Quizzes, Tweets & Notes

Facebook: Promotions, Contests & Giveaways

Leveraging Social Media Marketing in the Apartment Industry

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