Marketing to Gen-Yers and Boomers: Using Social Media and MoreJANUARY 23, 2013 // 2:30 – 4:00 PM

Presenter(s): Todd Harff // Creating Results, Woodbridge, VANicole Conniff // Irvine Company, Irvine, CACheryl Urban // Equity Residential, Chicago, ILLynn Klug // Greystar, Irvine, CA

Cheryl UrbanEquity Residential

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

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Feb 05 Aug 06 May 08 Apr 09 May 10 Aug 11 Feb 12 Aug 12

18‐2930‐4950‐6465+

Change in Social Media Use by Age/Time

By the Numbers: Social Media Tendencies

Source: May 2012 Google Ad Planner; plusdemographics.com © 2012 Creating Results

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

Case Study:

Case Study:

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

• 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

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

Speaker Contacts:

Nicole ConniffIrvine Company Irvine, CA

Cheryl Urban Equity ResidentialChicago, IL

Todd HarffCreating ResultsWoodbridge, VA

703.494.7888 ext 7013Email: Todd@creatingresults.comWeb: CreatingrResults.comBlog: MatureMarketingMatters.com

Lynn Klug GreystarIrvine, CA

IBS EducationNational Association of Home Builders

1201 15th Street | Washington, DC 20005800-368-5242 | ibsedu@nahb.org