Erica Campbell spoke on 'Leveraging Social Media Marketing Trends' at the Apartment Association of Greater Knoxville (AAGK) on April 25, 2012 in Knoxville, TN.
4. Social
Networking
is the most
popular
online
activity
worldwide &
reaches
82%
of the online
population
Source: comScore Top 10 Need-to-Knows About Social Networking and Where It‟s Headed Report December 2011
5. Social Media Is Becoming More Influential At Each
Phase Of The Connected World
9. SOCIAL MEDIA LANDSCAPE
Benefits of Social Media
• Create awareness, buzz and brand positioning to prospective
renters.
• Connect with your best and most likely customers by giving them a
reason to like or follow the brand in social channels.
• Increase resident satisfaction which decreases turnover and
increases occupancy.
• Engage residents by making community communications more
participative and personally relevant.
• Influence residents to share their positive experience and encourage
them to refer their friends.
10. RETURN ON INVESTMENT
ROI = [Gain from Investment – Cost of Investment] / Cost of Investment
The
formula
11. The investment-return relationship
Non- $$$
$$$
Action Reaction Financial Financial
Investment Impact Impact
This is very important but ROI
doesn‟t live here
Non-Financial Impact = Potential
12. Augment your social media
engagement efforts, stay current
& learn up-to-date skills to
maximize your exposure.
EDUCATION
14. EDUCATION
Social Media Ambassador
• Good communicator and writer
• Good technical skills with computers and online
applications
• Active in the social media realm, particularly
Facebook
• Excellent understanding of your company, history
and reputation
• Team player with the ability to take charge and
lead others when necessary
15. EDUCATION
Social Media Policy
• Create conversation guidelines for
employees and social media
admins.
• 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? Social Media
• Remember to protect proprietary
and confidential information. Policy
• Draft a social media style guide.
16. EDUCATION
What is Your Content Strategy?
• Define an effective channel strategy
• What is your mission statement,
brand position or brand promise?
• What is your brand personality?
• What is your brand identity?
• What differentiates your brand?
• What is your company story?
• What do you want your customer
experience to feel like?
• Identify types of content
18. EDUCATION
Comment Guidelines
• Develop a listening framework.
• Will you reject comments which include offensive or inappropriate
language?
• Will you allow personal attacks?
• On-topic comments: What will you do with comments that veer away
from the topic of the post or other peoples‟ comments?
• Will you allow comments that appear to be spam?
• Will you take action against repeat offenders?
• Will you provide a way for commenters to contact someone if their
comment is not approved, or if they have other questions?
20. EDUCATION
Who Responds?
• Regional/Corporate
– Pros: Not emotionally tied to the issue/concern
– Cons/Challenges: Could cause for delay because
they must obtain all info from on-site team before
responding & should stand behind the on-site team, if
possible
• Property Manager
– Pros: Knows all the details, backstory & may
personally know the resident with the issue/concern
– Cons/Challenges: Too emotionally invested,
especially if he/she is the target of the review or
comment
31. GROWTH
Pinterest
Pinterest is the 3rd largest
social network and is an
invitation only social
network that allows users
to visually share, curate,
and discover new interests
by posting, also known as
„pinning,‟ images or videos
to their own or others‟
pinboards (i.e. a collection
of „pins,‟ usually with a
common theme).
34. GROWTH Traffic jumped by 900,000 unique
visitors from February to March for
Pinterest a total of 18.7 million unique
visitors visitors.
Source: Compete
38. GROWTH
Pinterest
I will send a Pinterest invite
to the first 4 people that
Tweet me right now to:
@ericacampbell
39. GROWTH
[INFOGRAPHIC]
Graphic visual representations
of information, data or
knowledge. These graphics
present complex information
quickly and clearly.
Source: Wikipedia
40. Establish direct connections with
residents & prospects to build
relationships, cultivate business
opportunities & keep your
conversation going.
ENGAGEMENT
41. Cover Photo Admin Panel & Timeline
Profile Picture Apps
Facepile
About Section
Composer
Pinned Post
Likes
Thumbnail Image
47. ENGAGEMENT
Post Length
Engagement rates on Thursday
and Friday are 18% higher than
other days of the week.
Source: Buddy Media 2011
48. ENGAGEMENT Research suggests 7am, 11am,
Timing 3pm, 5pm, and 11pm but continue
to test. Frequency is king but don‟t
overwhelm your fans
Source: Buddy Media 2011
51. ENGAGEMENT
Encourage Interaction
Posts that end with a
question have a 15% higher
engagement rate.
Source: Facebook
52. ENGAGEMENT
Encourage Interaction
Fill-in-the-blank posts
generate about 90% more
engagement than the average
post.
Source: Facebook
53. ENGAGEMENT
Make a Visual Impact With Photos
Posts including a photo album, a picture or a video generate about
180%, 120%, and 100% more engagement than the average
post, respectively.
Source: Facebook
62. Monitor the health of your brand on the
social web to understand your sentiment,
key demographics,
influencers & competition.
MEASUREMENT
63. MEASUREMENT
Distribution
What social media channels are you using, how can
people reach you, are you visible?
• Followers
• Fans
• Number of mentions
• Reach
• Inbound links
• Blog/YouTube subscribers
64. MEASUREMENT
Interaction
How likely are followers going to engage, spread your
message and interact with each other?
• Retweets • Contributors and active
• Facebook Insights contributors
• Forward to a friend • Pageviews
• Social media sharing • Unique visitors
• Comments • Traffic from social
• Like or rate something networking sites
• Reviews • Time spent on site
• Response time
66. MEASUREMENT
Influence
How do attitudes change due to the social media activities?
This is the branding value that should convert into sales.
• Share of conversation vs. competitors
• Resident and prospect satisfaction
• Sentiment positive, neutral or negative
• Number of brand evangelists
Insert this query into Google
67. MEASUREMENT
Calculate the Engagement Rate
Amplification Rate
Amplification = # of Retweets Per Tweet
Amplification = # of Shares Per Post
Amplification = # of Share Clicks Per Post (or Video)
Conversation Rate
Conversation Rate = # of Audience Comments (or Replies) Per Post
Applause Rate
Applause Rate = # of Favorite Clicks Per Post
Applause Rate = # of Likes Per Post
Applause Rate = # of +1‟s Per Post
Applause Rate = # Likes Per Post (or Video)
68. MEASUREMENT
ROI & Action
How many leases, renewals and other real world results
do you get from social media?
• Sales revenue • Lifetime value of customers
• Reduction in turnover • Increase in resident referrals
• Issues resolved & resolution • Leasing & Maintenance staff
rate time saved
• Number of leads/Conversions • Share of repeat customers
(per day, week, month) (from social media vs. other
• Cost of lead channels)
• Lead conversion rate • Transaction value per
• Revenue (per follower, lead, customer
customer) • NOI Increase
69. MEASUREMENT
ROI & Action
According to SatisFacts Research, each
unit turned over at the end of a residents
lease, averages a cost of $3,900 to the
property manager. This turnover cost
includes the loss of rental days while vacant,
concessions and maintenance. The research
also demonstrates 54% of turnovers are, in
fact, controllable.
Sense of community = Less turnover
71. IGNITION POINTS
Things You Can Do Today!
1. Start your search for your social media
ambassador.
2. Decide on the themes for your content, create a
content calendar & commit to posting.
3. Upload pictures & videos from past events &
establish a goal for how many photos you would
like to post per month.
4. Create a Facebook Timeline cover photo.
5. Start collecting email addresses from residents.
6. Set up Google Alerts.
Looking for and acquiring a home (be it renting or buying) has been called one of life’s major stressors. Engaging feedback from one’s ‘social network’ can ease the anxiety of this decision. Leveraging social networks provides a human element to your brand and brings a trust factor to the rental process, since users can interact with their friends,ask questions, receive feedback, make comments and respond to listings. By integrating social media marketing into your mix, you are giving current resident and prospects a seamless method for tapping into your comminutes throughthe tremendous power of social media. Why is it that some facebook pages have loyal followings, thousands of “likes” and hundreds of comments on every post while others sit forgotten? It’s the content! Join Erica Campbell, Director of Marketing at For Rent Media Solutions as she shares advanced new media tactics and best practices to actively engage your residents and prospects across all of your social media platforms. Learn how other companies have done it right and what exactly you can do to make social media the best performing tool in your marketing arsenal!
Social networking sites reach 82% of the world’s online population representing 1.2 billion users around the world; making it the fastest growing platform for marketing and advertising dollars…and it is no different in the multi-family industry.
An organization with a customer-centric approach is a huge challenge to create but provides a coherent customer experience.
Development of corporate policies, with particular emphasis on those relating to social media participation is important which we have touched on before in past webinars. It is also important to define the rules of engagement to be followed to help guide your organizations response to threats. By building in a defined set of response procedures, it is possible to minimizethe amount of damage that a social media crisis can inflict.Questions that need to be addressed are:-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
Facebook is all about conversation. It’s necessary to immerse yourself in it to keep afloat and to stay relevant. Comment Guidelines sets the boundaries for acceptable behavior on the company’s Facebook page. Know what the media, competitors, employees and residents are saying about you and track the content of the conversation to gauge success. It’s good to respond to the three inevitable types of conversation:Apartment community questions, resident complaints and complimentsSome things to consider: Will you reject comments which include offensive or inappropriate language?Will you allow personal attacks? In an ideal world you might allow people to question or argue your company’s content – after all, this medium is about conversation. However as we all know, this isn’t an ideal world. Even if you do allow criticism, consider outlawing aggressive attacks. – On-topic comments: What will you do with comments that veer away from the topic of the post or other peoples’ comments? Will you allow comments that appear to be spam? Will you take action against repeat offenders? Will you provide a way for commenters to contact someone if their comment is not approved, or if they have other questions?
Have a ‘plug and play’ platform where you brainstorm possible crises that could occur with your property’s Facebook page so you can react in a timely manner when in fact it does occur. Play out these scenarios to help you build canned responses.Educate you staff internally. Implement an employee policyEnsure factors that make up your brand integrity are balanced Find and address the negative influencer
measure what pieces of content (type) cause amplification (allow your social contributions to spread to your 2nd, or even 3rd, level network). Understand times