Apartment Community Website

 By R. Aaron Warnock, Chief Scientist, G5

Some think 2012 is the year of destruction, but maybe the Mayans only meant that the old way of doing business would be over. In this new era, the Age of the Customer, businesses must master customer engagement in an ever more digital world.

Local businesses continue to grapple with the challenges of the continuously connected consumer. The shift to online channels has accelerated, driven by the adoption of mobile computing and the rise of social media. To remain competitive, businesses must move well beyond online advertising and recognize how to deliver exceptional experience with digital touchpoints throughout the lifecycle. Successful companies will be those that place Digital Experience Management (DXM) at the center of their strategic plans.

Last week Blackberry/RIM and Best Buy were two businesses that went on a list of dying companies.  It's often hard to predict what the future holds, and we have a tendency to get tunnel vision when it comes to our own businesses.  It's unfortunate these companies have found themselves to be in dire straights, but for me I look at situations like this as an opportunity to reflect on my own business and industry. What may look like a solid model today, may not be tomorrow.  With that, I'd like to share my list of five multifamily marketing/tech models that may be in trouble.

1. The ILS - I've actually been known to say that the ILS is an absurd marketing idea.  While I may have been trying to generate some controversy with that statement nearly 3 years ago, it's interesting to think today I actually believe the ILS model is in trouble a bit.  At least the way the big players look today.  If you look at Apartments.com, ApartmentGuide.com, ForRent.com, Rent.com, Move.com, etc., you'll find their models really haven't changed much since they started.  However, the way people search online is changing.  We may see a few fall off over the next 5 years if they don't evolve in an aggressive way.

2. Pay Per Lease Marketing Model - As tracking becomes more sophisticated we're finding (and concluding) renters are using more than one source to find an apartment.  Is it fair to give all the credit to a single source and pay them a premium for it?  I say NO FRIGGIN WAY!  Marketers are getting smarter and this model is a gimmick that has taken advantage of people for too long.  I think this fad will most definitely pass in the near future as pay per lead or flat subscription pricing will win.

When’s the last time you Googled your property? What did you see? Harmful reviews that you didn’t know existed? Outdated property photos? Incorrect information?

Oftentimes we get so caught up in the day-to-day operations and running our apartment business that we fail to put ourselves in the perspective of the consumer (or apartment prospect), the true reason we exist and ultimately the factor that will contribute to our successes or demise. I want to offer a suggestion—er, or rather a challenge—to all on-site professional property managers and staff: Google your property. What do you see?

What might be more fascinating is what you don’t see. Generally, when a potential renter finds us from a traditional ILS (i.e. apartments.com, apartmentguide.com, etc.) and expresses interest, he or she will most likely Google that property, look for reviews and other insightful information that will guide their decision. On the flipside, prospects already aware of a community’s name might bypass an ILS, and Google a property’s name to gain knowledge. This is where savvy on-site staff can truly shine by utilizing all outlets available to flood a search engine with pictures, amenities, and language that can sway a prospect to rent. So, what will you find when you do a Google search?

In the spirit of March Madness and, of course, all things data, I thought it would be nifty to craft a visualization of actual Apartments.com data in tournament bracket style.  With the help of our very talented Senior Graphic Designer, Laurie Genzlinger, we put together a data driven visualization that illustrates the top 16 user searched amenities on Apartments.com. 

To make this happen, we seeded each amenity, one through four, based on total searches and broke them into four conferences.  We then took this search data and let it solely dictate the outcome of the matchup, advancing the amenity with the higher relative search volume.  In short, our final four top searched amenities consisted of: Washer/Dryer in Unit, Parking, Dishwasher and Air Conditioning.  After a grueling round of matchups, Washer/Dryer in Unit and Air Conditioning moved to the finals, with Washer/Dryer taking the title.

I like this visualization because it illustrates the importance of each of these amenities, relative to another, in the eyes of the renter.  For example, hardwood floors may be important to renters, but next to high speed internet it falls short.  Taking that a step further, the same included high speed internet is a really nice feature, but relative to parking, parking takes the cake.

As we look back on 2011, many would classify it as the year that social media finally reached critical mass. Facebook alone amassed more than 800 million users worldwide, and with so many of your residents’ conversations now taking place on Facebook, it’s important that your community has a thriving presence there. Hectic schedules and occasional bouts of writers block impact us all, but remember the words of wisdom below, and you’ll be able to create a vibrant community as you manage your Facebook page with consistency.

Secret #1: Setting Goals is the Foundation for Success
Ok, so this probably isn’t the best-kept secret, but setting goals is critical for Facebook success. And you’d be surprised at how few businesses do this well. It’s all too easy to simply make the occasional post to Facebook and call it a day. Setting goals help you avoid the Facebook graveyard – a page with no activity, few interactions and limited engagement with fans. At a minimum, set these two goals: (1) Get 100 percent of your residents who are on Facebook to “like” your page. Sure, it’s aggressive. But having involved residents is ultimately the reason why you’re even on Facebook.  Engaged fans are great for business. (2) Set goals for communicating with your residents at least once per day about topics that aren’t sales- or marketing-related. It can be as simple as letting residents know that the trees are being trimmed on Saturday, and parking will be limited. Having informative conversations creates a deeper connection with your residents.

Add value for your residents, while creating lasting relationships in the community.

Facebook is an effective medium for local businesses trying to drive people offline to their premises and for building deeper relationships with members of their local community. Using Facebook to cross-promote in conjunction with a local merchant can gain greater exposure for your offering and should be at the top of your marketing to-do list. What is cross-promotion? Cross-promotion is where two parties, who target identical or similar markets, decide to promote each other’s services.

Dark Virtual Storm Still on the Horizon?

It was a dark day on Wednesday, January 18, 2012—for some of us more than others.  Murphy’s Law was in full effect the moment my feet hit the ground that morning, and the string of mishaps continued when I got to work and turned on my computer. I opened Google to check my email, and I saw a thick, black bar covering the logo at the top of the page.

No matter what our role is within the multi-family industry, there is always one word which is used more than any other; “community.” Some of us own communities, some of us develop communities, some of us design communities and others of us lease or operate them. And chances are that many of us live in an apartment, condominium or townhome community as well. So then why is it that there is so little ‘community’ in our communities?

When it comes down to this failure’s root cause, it can really only be one of two choices;

a.       Either the management team does not expend their energies in a manner that creates a welcoming and vibrant atmosphere that encourages interaction, or

It seems like over the past five years or so, an infinite number of marketing channels have emerged. We bought pages on listing sites, then we created our own property websites.  Now web pages are generated for our property just by having a resident “check in” on Facbook or Foursquare.  Seriously!

 This makes it extremely challenging for an apartment community to have one coherent brand on the web. So what’s a marketer to do?

So, you've read through countless fun blogs from within and outside the industry and yes, you've smiled to yourself as you've had to thumb through silly posts about the author's dogs or sunglasses and/or other gimmicky things to keep you reading. And yes, you've gone a step above and read through more authoritative beats like Mashable or TechCrunch or HBR to yes, still find yourself having to smile and get through gimmicky articles on social media. 

And in that time frame of lost minutes  (and yes, hours), you were trained over and over to think that social media was about #fans #followers #tweets #comments #posts and other "measurements". Well, guess what they were wrong and you were wrong to believe it. These vanity metrics simply don't add up to leases or renewals. At the very stretch, they are ONLY good for brand lift, which you likely will ONLY consider once you can DEMONSTRATE you have a handle on building true marketing and leasing ROI. Otherwise, I give it to your boss to tell you to eat it and find something else better to do with your time.

And the reason is simple, we as an industry need to spend the very little time we do have to market (how many of you truly have a full-time dedicated marketing manager on site???) on getting a return from it.