Agile Automation - National Multifamily Housing Council...@ApartmentWire #OPTECH18 Agile Automation. How to Make Marketing Automation Thrive . in a High-Touch, Customer-Centric Industry

@ApartmentWire#OPTECH18

Agile AutomationHow to Make Marketing Automation Thrive in a High-Touch, Customer-Centric Industry

Thursday, Nov. 15, 2018


Meet the Team

Mike Whaling30 Lines

Leigh SublettVenterra Realty

Ashley YaxVillage Green

Chris Beckwith-TaylorThe Franklin Johnston Group


What is marketing automation?Tools that make the process of doing business easier by intelligently automate repetitive marketing tasks

The goal: more insights, greater efficiencies, more personalized service


What challenges exist for apartment marketers today?


Avg. of 26 pieces of communication


Applying Marketing AutomationHow you want it to go… How it can easily go…


Marketing Automation Can…

Deliver the right message to the right audience at the right timeon the right device.

All without adding to your team’s workload.


How Renters Shop for ApartmentsLook Create awareness for the property / brand

LearnPersuade and convince them your property is the right option

Lease Lead prospects into a seamless transaction

Love Nurture residents to deliver an experience they’ll want to share



Let’s flip the funnel…


Show Love to Current ResidentsBy increasing retention, referrals, and satisfaction…

...we can decrease our spend on cold lead generation.


83-87% Of renters use online ratings and reviews in their apartment research.


Make It Easy to Share


Social Studies: GreystarResources

16Properties

60Days


Social Studies: GreystarResources

5000Social Interactions

751Reviews (Avg. 4 Stars)

47Avg. Reviews/Prop.

240Reviews Shared

68%Inc. in Google Ratings

11000Website Referrals


Review Collection and Display


Insight into Resident Satisfaction


Insight into Resident Satisfaction


AutomatedInternal Reputation Management

Resources Online Reputation

6.4% Higher than Benchmark

Time Cut in Half

18% HigherthanBenchmark


Leasing Process Timeline

Responsiveness


Bridge the Gap – Love to LookIn the early stages of an apartment search, marketing efforts should aim to generate awareness.

Resident ratings, testimonials and referrals help generate that awareness for you.


Initially Prospects Are Lookingfor Options


How Automation Can Assist

Build your Audience by Giving prospects The help they need





Real-TimePricing and Availability


An Experience They’ll Love, From the Start

Properties with a pop-up on their website average 40 more leads per month than properties that don’t.


Funnel Leads into Automated Follow-Ups

After a prospect submits a lead… They can be automatically added into your sales/marketing funnel…


Gather Data from the Start

Early-stage “discovery” campaigns help you build warm audiences and inform retargeting strategies to reach those closer to buying


Use Data to Decide Where to Spend


They know your property…Now, lead them to the lease.


Persuade the Prospect

Automate the more “mundane” touch points and allow your team to focus on hotter, more quality leads.


What Apartment Shoppers ExpectInstant answers to their questions…

Prompt, helpfulfollow-up communication…


Floor Plan Matching

• 279 Leads Submitted• 54 Leases (19% Conversion)• 47 Average Days from

Experience to Lease*90-day analysis amongst two assets


Clear CTA to Direct and Capture Leads


92%Of floor plans across Venterra’s portfolio have 3D tours available.


Chatbots are Available 24/7


Stay Top of Mind with Email/Text Drips


Automated Texting – Schedule Tour

• 8,051 Valid Leads• 1,493 Scheduled Showings• 1,201 Completed Showings*30-day analysis across 56 sites (Sept. – Oct. 2018)


Accelerate the decision-making process…decrease days vacant.


Facilitate the Transaction

Make the process of doing business easier to accelerate and streamline the transaction.


Live Video Tours


Pre-Recorded ‘FAQ’ Videos

https://realync.com/share#!/shareVideo/5bae942521b4ff3160322c2d


How Video Tours Are Performing


Need a Ride, We’ll Pick You UpA prospect schedules a visit to your property…

Let’s make their trip a little easier and schedule a Lyft…


The Results

3 Days Shorter

Days Before Move In


Save time.Save money.Improve service.

Resources Online Reputation

6.4% Higher than Benchmark

Time Cut in Half



Leasing Process Timeline

Responsiveness


Accelerate the Leasing Process

By removing friction for the prospect, what was taking anywhere between 1-8 days can now be done in minutes.


True love starts before they’re even a resident.


Follow-Up Messaging Before Move In

* 90-day analysisbased on 1,477 new applicants among 80 locations.


High Tech Can be High Touch


Sounds great, but where do I start?


Pinpoint Repetitive Processes.

Focus on the tasks your team is doing every day, for every lead. Then, address changes in phases.


Marketing Automation Can…

Deliver the right message to the right audience at the right timeon the right device.

All without adding to your team’s workload.


But, how do I know it’s working?


Establish the Right KPIs


Establish the Right KPIs● Increase in response times and percent of leads responded to

● Increase in tours scheduled

● Increase in closing rate

● Decrease in days vacant

● Decrease in ad spend


If I don’t have any automation tools in place…what’s something I can do?


Good Opportunities for Automation● Push pricing and availability to ILSs

● Bulk/scheduled posting to social media sites

● Build a warm audience with pop-ups and pixels

● Drip email/text messaging to new leads

● “You might also like” recommendations


I feel pretty comfortable, what’s the next level of implementation?


Better Opportunities for Automation● Tour/appointment scheduler

● Event-based surveys and review generation

● Run smart remarketing ads to those warm audiences

● Always-on chatbots

● Social loyalty/rewards app

● New resident / move-in onboarding


I feel very comfortable withautomation, what’s the top level?


The Best Opportunities for Automation● Lease renewals and move-out exit drips● Personalized behavior-based follow-ups

(Email / SMS / Mobile app / Facebook Messenger)

● Lead prioritization and prescriptive leasing staff directives(Differentiate between “marketing ready” and “sales ready” leads)

● Waitlist matching

● Self-guided tours (video or in-person)

● Unit readiness “pizza tracker” status updates


This is not an exhaustive list… Get creative!


Automation in the Multifamily IndustryHow we want it to go… How it can easily go…


Look to Other Industries


How Renters Shop for ApartmentsLook Create awareness for the property or brand

LearnPersuade and convince them your property is the right option

Lease Lead prospects into a seamless transaction

Love Nurture residents to establish an experience they’ll want to share


Access These Slides:

Text AGILEto 88000


Let’s Connect

Mike [email protected]

Leigh [email protected]

Ashley [email protected]

Chris [email protected]

Documents

Agile Automation - National Multifamily Housing Council...@ApartmentWire #OPTECH18 Agile Automation. How to Make Marketing Automation Thrive . in a High-Touch, Customer-Centric Industry