Back Up the Train

I'm back. No excuses, just an explanation. Basically, I had nothing to say that I felt mattered. And my cardinal rule is...no crap. So, I didn't write for almost 2 months. Nothing at all. I found it refreshing. Then, today, I found something that needed to be said.

As is my routine, I was reading my Brains on Fire blog, (best blog ever), and came across Eric Dodd's post that essentially took all the concepts going on in my head and summarized them in less than 55 words -

It was a good reminder that there are an increasing number of amazing tools at our disposal, and an increased responsibility for us to learn to use them, but that tools will never fully replace sitting down with a customer and asking them how your company can make a positive difference in their life.

Exactly. It's time to back up the train, people. Have we become so enamored with the tools and the toys, (and the process, rather than the outcome), that we've forgotten the impact of simply talking to a resident, face-to-face?

Let me tell you, our people working on site with the residents haven't. But they feel obligated to the process, and that is impacting the outcome.

How Did I Find You? First I Went Here...Then There...

As a testament to just how interesting it can be to figure out how people find you, I was reviewing my morning HARO via email this week, (it’s a service that connects reporters with sources qualified to talk about a subject), and read Peter Shankman’s blurb on a nifty new source called iwearyourshirt.com. Interesting, I thought - let’s check it out. And indeed, the site has some great marketing potential for “getting the word out’ about your brand. In my quest for information, I scrolled down to “recent videos” and saw a brand called “call-em-all” being promoted, among other things, as a tool for property management. “Hmmm,” I thought, “That’s my gig - I should check it out.”

I was directed to a YouTube video where an everyday guy wearing a call-em-all t-shirt told me all about how my residents would benefit, and my life would be made easier by automatically calling or texting every phone number on my list to notify residents of community events, (“Don’t forget, the pool party is tomorrow - bring a friend!”), announcements, (“You will have no water for the next 2 hours”), and pretty much anything you would need to let everyone know. Pretty cool. From YouTube, you know I then clicked on the call-em-all website to take a better look. Pricing is based on numbers in plan, so, for example, if you have 500 numbers, (250 apartments) the cost is $95 per month. The time and effort saved in copies, delivery and traditional strategies might be worth it, and...it’s immediate. Love that. So will the residents.

So there you have it. Email (HARO) to iwearyourshirt.com to YouTube to call-em-all.

Now, to continue the circle of life, if call-em-all is monitoring and effectively managing their online reputation, they will see my post, see that I talked about their product, be forever grateful for continuing the chain and send me a t-shirt. Which I will put on, take a picture of, and blog about.

Welcome to advertising in the here and now. That’s what everybody’s talking about.

Give an Old Sales Question a New Twist

Sometimes it’s good to shake up old norms and try something new.

“Where else have you looked?” or “Where are you planning on looking?” are questions commonly utilized as a means of determining which communities a client may be comparing ours to. They're good questions that will provide important insight...if apartments are all the client is considering. A better one might be, “What other options are you considering?”

Iconoculture reports on a post in Economist’s Outlook this week the share of adults under 35 living at home with Mom and Dad, especially among those age 25-34, is at the highest level since 1981, (a very long time ago - I know), at over 30%. The historical average is under 28%.

Since there are over 70 million young adults age 18 to 34 living in the US, that means somewhere around 21 million young people are living at home. Who knows how many more are considering the option, as it becomes more and more socially acceptable to do so, even into one’s 30‘s.

Think about it - options might include Mom and Dad’s basement, moving in with a girlfriend, or staying put. If you are competing with Mom and Dad’s basement, low rent and home cooking, you’ll want to build value in your community by highlighting the freedom and independence your client will enjoy.

For those that are already there, it seems likely that Junior may be getting tired of living in the basement, and even likelier that Mom and Dad may be getting tired of Junior. Maybe not, but the lifestyle benefits renting offers to both Junior, (and Mom and Dad), might be just the ticket.

On the flip-side, if your demographic is primarily 18 to 34, understand that this option is one your residents may be considering rather than renewing their lease. As it becomes increasingly socially acceptable to return to the nest for an extended period of time, and generally cost effective to do so, you may essentially find yourself competing with Mom and Dad’s basement for the renewal. Increased focus on freedom and the lifestyle opportunities renting offers will be critical to keeping this demographic.

Before selling (or reselling) anything, find out who you are really competing with - what other options are being considered?

Easy Adaptions to Aging-in-Place

I just finished reading an article in USA Today on aging-in-place remodels for boomers that are getting to be “the age” where a few modifications can be a big assistance to staying put in the golden years, and have to say, when I saw the list of most popular aging-in-pace updates, compiled by our friends at NAHB, I thought, “Some of these are an absolute no-brainer, they’re so easy to implement.”

A percentage of projects remodelers have done in the last year to be able to age-in-place: (For a complete aging-in-place checklist, click here.)

Grab bars 78%
Higher toilets 71%
Wider doorways 57%
Added lighting/task lighting 45%
Non-slip flooring 20%
Easy to read thermostats 13%

They’ve got the numbers, stability and spending power...make a few easy adaptions to meet their needs and you’ll uncovered a unique marketing niche, or you may discover you keep a resident you otherwise might have lost.

Involving Residents In Your Worth Cause

Many companies contribute to charitable causes and the greater good, and some (wisely) share their philanthropic endeavors with their clients. But why stop there?

In The Buying Brain, Secrets for Selling to the Subconscious Mind, (yes I did like this book as this is my second post referencing it ), Dr. A.K. Pradeep notes that coupons that include an act of charity can produce a significant rise in Purchase Intent and self worth. In one study, consumers were asked to choose one of four deserving causes to receive a percentage of what they spent. This simple gesture resulted in a huge increase in emotional engagement and higher Deep Subconscious response scores for words relating to the “pleasure” or “satisfaction” associated with the shopping experience.

Contributing to charitable causes in a way that includes residents is an easily adaptable concept at the on-site level. For example, perhaps a community selects three charities, (since the business is multifamily, possibilities might include Habitat for Humanity, a local homeless or transitional shelter and other causes that relate to housing or “get back on your feet” support - make sure to run your selections by HR), and determines a percentage of the first month of resident’s rent that will be donated to the selected charity. When the resident renews their lease, (or signs the initial lease), they are asked to select which organization they would like the money to go to - they get to control it. If they say, “None - can you just reduce my rent?” (which they most likely won’t if presented effectively), you can politely decline and re-emphasize that the rent is the rent, however XYZ Apartments is committed to donating a percentage of that rent to a charitable organization that helps those less fortunate and we let our residents choose which of the three charities they would like it contributed to.

A program like this is broad enough to encompass point of initial sale and resale (renewal) strategies. Community charitable donations might be tracked on the website, Facebook page, clubhouse visuals, etc. Even better, expand the program and provide opportunities for residents to volunteer at these causes. The possibilities are endless...and all good.

What does your company or community do for the greater good? Do you let your residents know? Do you involve them in the process?

Are You a Bust With Boomers?

Is Your Marketing a Bust With Boomers?

In “The Buying Brain - Secrets for Selling to the Subconscious Mind” Dr. A.K. Pradeep cites a study conducted by Dr. Adam Gazzaley that determined the ability for one’s mind to suppress distractions declines with age. People over 60 aren’t necessarily more forgetful; rather, they are more overwhelmed by distraction. Hmmm…

Based on this finding, the book suggests easy strategies for marketing products to older adults. First and foremost, keep the message obvious and direct and copy and images clean and uncluttered. Let the message “breathe" with some white space around it, and avoid the impulse to load up messages with sounds, running screens, and quick-time animations. Not only are distractions detracting from your message to seniors, most of that content is not even making it past the brain “filters’ of Boomer consumers. In other words, what teens will enjoy, Grandma won’t.

In addition, Boomers like positive messaging - wit and wisdom speak their language, and their broader attention spans make them more comfortable with knowing more than the headline and will recall and puut into context messaging that honors their cognitive abilities and hard-won experience.

Boomers control 77% of all financial assets in the United States, and they’re getting older every day.

Is your message getting through to them?

That's More Like It!

I received another survey this morning, from Trendwatching, that is far more my style than the one I blogged about last week. (see below)

This survey was simple, easy and allowed me to provide some honest feedback, all with a simple email response.

Dear Lori,

We hope you enjoyed our latest briefing on MASS MINGLING. As we’re gearing up to bring you even more content and services this September, this is an excellent time to let us know what else you’d want from us.

To keep things simple, just reply to this email, answering the following:

1. What do you like about our monthly Trend Briefings? And what could we do better? [your answer]


2. What (if anything) would make you want to try our Premium Service? 
[your answer]


3. What other content / services would you be interested in? Trend Seminars? Company presentations? Consulting? Networking? Anything goes!
[your answer]

Thank you so much, we’ll do our utmost best to incorporate your suggestions,

Warmest,

Tim Pitts
Subscriber & Client Services
 trendwatching.com

You want my feedback? Just ask for it. What’s at the top of my mind regarding your service or product is most likely what is important for you to hear.

Keep It Short

I received a request to complete a survey today regarding my experience for a one night hotel visit earlier this month. It was the second request I received, and I figured since they asked twice, I would go ahead and complete it. When I clicked the link, I was informed the survey would take me from 7 to 10 minutes to complete. I clicked back off.

If you want feedback, keep it short, and in context with the experience. I don’t have time to spend a quarter of an hour, or a coffee break, or the time it takes me to write this blog, to complete a survey regarding a one night visit. Now, if the survey took 3, or even 5 minutes or less to complete, or I was offered something in return for my time, I would have happily complied.

Keep it simple. Ask relevant questions that provide insight, and most of all, respect your customer's time by keeping it short.

Drive Your Plants Up The Wall

Trendcentral reported this week on new products to bring the outdoors in and I about flipped my lid over a new modular planter system called Woolly Pocket Wally. With this device you can create an indoor plant wall - just think about how cool this would look on that wall you don’t know what to do with in your office, or how easily you could spice up a model by hanging one of these in the kitchen and planting basil in it. (Get it, spice up?)
Prices start at $49, which is far cheaper than most art.

While you’re at the site, check out the garden systems designed for schools. Pretty fabulous.

Witness the Start of a Leasing Revolution - what a tool!

Live from the AIM Conference, the visionaries at Realty DataTrust have done it again - they’ve developed a product that any smart salesperson will lust after, and any smart company will quickly implement to gain a competitive advantage over their competition. Gather round...gather round...this concept is so fresh, it isn’t even available, but you’ll definitely want to be in line to snap it up as soon as it is.

By now, you have all heard about or seen the new IPad. Pretty cool concept. Tablet size. Multifunctional. Read the paper without squinting, you get my drift. Mike Mueller, apartment visionary that he is, saw the IPad, and its potential as a leasing tool, and created a Leasing Tablet specifically for the device. My head about exploded when I saw it. Where do I begin? Let’s say you’re in an apartment and the client says, “Is the school nearby?” You pull out your leasing tablet, hit Maps and take a look at the school (and the distance from),in whatever format (street, satellite, whatever) you would like. Then, you hit Floor plans to share the slight variance in the apartment layout your client will be getting. And that is just the beginning. Take your typical Saturday afternoon. You’re really busy and people are waiting. Instead of sending them away, or making them stare at the walls for 30 minutes, you hand them an IPad and say, “Please enjoy - surf the web, read the Wall Street Journal or hit Leasing Tablet and take a look at floor plan and pricing options.” You may find that by the time you get back, they’ve gone ahead and leased an apartment. It’s that cool.

Now, for the staunch curmudgeons out there thinking, ‘’Good idea, except they will all walk out the door”, they’re working on that - which is one of the reasons it’s not available yet. This application is going to seriously change the way we lease apartments. You’ve been hearing me pontificate for the last few years that we need to make it about the client, not about us, and so many times, people come in further along in the buying cycle than we feel comfortable with, yet we make them go back to square one, because that’s just the way we do it. (Plus, if we don’t hit all the bases we might get a bad shopping report, and then we could lose our jobs.) This changes all of that. I find it profound. I want one and I want to lease apartments with it. It’s a leasing notebook, 3.0 style. Fabulous. I can’t wait to see it in action. Get your lawn chair and get in line now.

A Wolf in Consultant's Clothing -- 7 Myths of Apartment Blogs

The "every apartment community has to have a blog" hysteria rages on. As more apartment blogs launch, twice their number lay barren, the echoes of their month's old posts ringing on deaf eyes. Unfortunately our industry is being overrun by "social media consultants" who insist you must have a blog to gain a leg up in the market, and claim you must blog to open communication with residents and prospective renters.

Before you buy in, consider the contrarian perspective.

Myth #1 Residents want to read my blog.
No they don't. Residents want you to make it easy to pay rent and give them good and quick customer service when their thermostat stops working. Sure you may get a single digit percent of your resident pool who agree to subscribe after you bludgeon them with requests, but TMZ.com and dooce.com are way more fun.

Myth #2 I have to have a blog to rank high in search engines.
Any SEO or web marketing professional worth three clicks can increase your rankings on search engines with a smart web site and a strategically crafted pay-per-click campaign. With few exceptions, this is a crock. We have sites on the first page of Google in many markets, and it's because we put the right text in the right place on the site, not because blog postings with the winner of this month's cutest pet contest.

Myth #3 I can just have my leasing team update my blog.
Quality blogging is an art and science; the art in the selecting topics and crafting engaging posts, the science in the ability to actually write and the time management skills to keep up with a blog. Unless you're willing to provide support via training, and willing to shift other responsibilities to make room for blogging, this is a recipe for disaster that will surly result in an amateur finished product.

Myth #4 If I build it, they will come.
There are many tens of thousands of personal blogs and company blogs and industry blogs and mommy blogs out there, each with a proud and committed writer who have posted every single day for months on end. And only a small percentage of blogs get the kind of traffic needed to create a marketing platform. Increasing your readership takes a long time and many hours of effort. And most of all, it requires fresh and relevant content. (see Myth #6)

Myth #5 A blog will pay itself off with new leads and eventually new leases.
Other than very rare examples where a blog can be seamlessly integrated into a community web site, this is a complete fallacy. When a blog-proponent claims this to be the case, raise your right eyebrow and say, "prove it."

Myth #6 There are plenty of sources of fee content to add to my blog.
To be authentic, your blog content must be original, and come from sources connected to your community or your property management company. Just borrowing generic content about the importance of recycling and recycled news is just aggregated data, a trend that died in the late 1990s.

Myth #7 There is plenty of data that shows an ROI on multifamily blogging.
Other than business to business (vendors interacting with PM companies and each other), there is no empirical data about any sort of scalable ROI on apartment blogs. There are certainly some successes out there in specific demographics, but trends are measured by trend patterns over large areas, not by one offs.


And for those communities out there with talented, dedicated, on site bloggers who are afforded the time it takes to launch a truly successful online presence, and have the organizational support to make it work, good luck. You're doing it the right, and only way.

Now go fire your social media consultant.

Why You Should Get On Zillow Today

Zillow, one of the largest real estate websites, launched their rentals products division this week, and I must say, the opportunities for exposure, especially right now, are pretty good, mostly because there are very few listings. Given the popularity of the site and the fact that finally, companies are noticing the potential of having real estate sales and rentals play in the same sandbox, I expect that will change. The site offers the industry’s first mapped search by monthly payment, which allows shoppers to simultaneously find for-sale and for-rent homes, based on a monthly payment they can afford. With the appeal of home ownership and its appreciation benefits waning, it stands to reason that increasingly, some consumers will care more about price and location than whether the property is for sale or lease, and when comparing benefits, may elect to lease.

According to their website, the cost is just 9.95 per listing for 180 days to reach 8.3 million people every month, including a million renters and many others who are on the fence over whether to buy or to rent.

For $9.95, it’s a no-brainer. Lease one apartment and you’ve generated quite a return. If you lease nothing, you’re out 10 bucks. Get on Zillow today.

You Will

Have you ever taken an apartment reservation, from a billboard display? Repaired a resident's dishwasher, before it broke down? Have you ever taken a rent payment, from an RF chip?

You will.

The multifamily industry is in need of visionary thinking and leadership. Not trend-humping distractions, but true innovative, risk loaded change. Property management needs to evolve how it thinks, and inspire new ways of thinking, from high rise corporate offices to the leasing office break rooms.

While not all of the predictions in these AT&T commercials from the early 1990s came true, enough of them did to make you raise an eyebrow. Who will step up and solve the problems of too many leads? Without the creativity to map the vision, and the tenacity to follow through, what difference would it have made.

And c'mon ladies, Tom Selleck rocks it, you know he does.

5 Years of Change

It struck me today that we started Creativity For Rent 5 years ago this September.

At its inception in 2004:
• Nobody was Tweeting because there was no Twitter.
• Facebook didn’t exist. Today it has 70 million US users.
• Companies were cutting edge to the extreme if they offered online availability.
• If you missed the Super Bowl, you couldn’t check out Janet J’s wardrobe malfunction - there was no YouTube.
• The iphone hadn’t been invented. There was no app for that.

How times have changed.

Consider The Possibilities

As humans, it is easy to assume that the only use for an item is the one you have learned. A chair is for sitting. A frying pan is for cooking. A dumpster is for garbage. Unless, that is, you start thinking not of what an object is, but of what it could be.

TrendCentral reports this week on a new trend created by the Macro-Sea artists collective that is springing up in Brooklyn – swimming pools created from old dumpsters. Thoroughly cleaned and lined, with sundeck attached, the dumpsters are turning up in vacant lots and backyards and providing innovative recession-era socializing venues.

Take an object, a room or an area. Think not of what it is, but of what it has the potential to become.

Then make it happen.

That is creativity.

Make It Personal

While staying in a brand new Courtyard by Marriott last week in Omaha, Nebraska, my husband and I enjoyed a little coffee-klatch in a comfortable little pod that came complete with its own television. We were in public, and could people watch, while enjoying an intimate conversation in the privacy of our own little nook. An added bonus - we could choose which morning news show to watch.

Think about the increased value perception you might create by changing up those unused shrines we lovingly refer to as clubrooms. The great room is great, but the real value comes in how you offer your residents customized personal spaces within it.

I Love That Color!

Ever wish you could paint your model walls the same shade you saw in that trendy boutique you were in last week? Or perhaps you saw a specific color you like and want to coordinate paint offerings with it? According to Trendcentral - there’s now an App for that!
Take a photo of anything that provides inspiration and this app will instantly match the hues in the photo to the corresponding shades in the Benjamin Moore color system. Match your uniform colors to the paint on the wall! Go to the hippest places and copy paint colors! Take a picture of a model accessory and find a paint to match! Match marketing materials to the paint on the wall! The possibilities are endless, and only an app away.

Forget the Dryer - Give Me My Cellphone!

USA Today reported Friday that a recent Pew Research Center survey of 1,003 individuals revealed that the recession has changed many Americans’ minds as it pertains to their “gotta-haves”. In 2006, 68% of respondents indicated a microwave was a necessity; now it’s 47%. Even more, (83%) felt a dryer was a must have in 2006. Today it’s just 66%.

While it seems we are more willing to slow cook meals and forego a clothes dryer, we won’t compromise when it comes to technology. The survey revealed that cellphones and high-speed Internet access are as necessary or more necessary than three years ago.

For those of you that repeatedly deal with the “no hook ups” objection, things may start to get a little easier – as long as you can show off the free Wi-Fi at the pool.

Give and Get Y

“What kind of resident activities are you interested in?”

The question was posed to a group of Gen Y’ers – 20 somethings that had agreed to sit live and unplugged for an audience late last year. In addition to community mixers, the group, showed enthusiastic support for charitable events. When pressed further with, “If the community signed up for an area run/walk or other charitable activity you would participate?” they not only said they would, but also indicated they would help plan it.

A 2007 Time Magazine article “What Gen Y Really Wants”, indicates Generation Y's search for meaning makes support for volunteering among the benefits it values most. The article referenced a Deloitte survey that revealed that more than half of workers in their 20’s prefer employment at companies that provide volunteer opportunities.

It makes sense then that Millenials will respond favorably to activities where they can get involved and make a difference. Make sure to include charitable functions/events in your retention plan this year. In addition, marketing should reveal your company’s philanthropic efforts as an appeal to the target’s values. Let them know what you stand for. Tell them about your “Soul brand”.

Part 1 "Where's my two dollars!"

Generations

"Kaleigh," I asked my 16-year-old, text-calloused daughter this weekend, "what do you think about the newspaper going out of business?"

"What newspaper?"

"The Rocky Mountain News. It's going out of business."

"Oh. Can I have money for Chipotle?"

Kaleigh, a 3.9 GPA Honor Role student and yearbook editor, lacks the emotional attachment of the local, front wave boomers struggling to overcome the shock since it was announced the Rocky Mountain News was closing. The nationally acclaimed Rocky knelt to its sister by, The Denver Post, last Thursday. And Denver isn't the only city. The demise of the print news is well documented across the country.

This isn't (or shouldn't be) a surprise. Nosediving ad revenue, struggling journalist identity and generational evolution all contributed to a decision grounded in the balance sheet. The evolutionary forces involved here could not be stopped as there was a gray generational cut off point coming at some point.

Reaction in Denver can be generalized by age group:

50+ crowd has the most to say, and can show you copies of the RMN they've kept in trunks, providing a timeline of their lives.

40+ crowd thinning, but recognizing the business reality.

30+ readers less affected, and able to let go.

20+ it would have happened here no matter how much this generation's grandparents would have held on.

16+ "what newspaper?"

And to those born after 1995, the newspaper is what we put under our art project so we don't make a mess.