Lia Nichole Smith VP of Education and Performance

Transcription

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2 Lia Nichole Smith VP of Education and Performance

3 renter phases ZMOT FMOT SMOT UMOT

4 ZMOT Zero Moment of Truth The RESEARCH phase

5 how renters search transparency is priority 78.5% 81% 12% 10.7% researched online sight unseen

6 how renters search top 3 sources ILS 74.8% APT/PM SITE 70.6% DRIVING 57.7%

7 how renters search search engine - # % %

8 most important top 3 when searching online PRICING 4.67 FLOORPLANS 4.63 PHOTOS & AVAILABILITY (tie) 4.61

9 apt features desired amenities desired 1 Laundry (in-unit, hook ups) 1 Security and access control features 2 HVAC 2 WiFi enabled community 3 Appliances 3 Top quality workout facilities

10 how renters search amenities desired Security and and access control features 4.20 WiFi Enabled 3.81 Workout Facilities 3.56

11 how renters search who renters trust website ads social media 35.8% 11.7% 9.0%

12 Friends, family, co-workers 2017 Online Renter Study, SatisFacts

13 Ratings and Reviews 2017 Online Renter Study, SatisFacts

14 what this means to you NEED VERIFICATION RESEARCH

15 what this means to you

16 FMOT First Moment of Truth The DECISION phase

17 impact on decision 1 Viewing the actual apartment Perception of quality customer service 4.25 Ratings/reviews in Ratings/reviews of community available % would not trust all/mostly positive reviews

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19 apartmentratings visitor study visitor responses 31,177

20 apartmentratings visitor study sites visited before AR or more 19.4% 27.3% 21.8% 31.6% Responses: 1,746

21 apartmentratings visitor study sites most trusted other 41.3% 35.9% 15.6% 5.5% 1.8% Responses: 2,307

22 apartmentratings visitor study what this means Renters gather information from a wide variety of sources Looking for a consistent message about the resident experience

23 apartmentratings visitor study what this means Client: RedPeak

24 apartmentratings visitor study where in the search 64% 16% 20% Beginning Middle End Responses: 3.712

25 apartmentratings visitor study where in the search Beginning Middle End It's always better to see reviews from other residents. To decide if going to visit them is worth my time I use ratings to minimize my initial list and then use them towards the end to minimize even more. After i see that it looks good visually, i want to see what the people who live there say about it After looking at an apartment I am really interested in, I look at the reviews to make a decision. Depending on the reviews, either I save the apartment or continue searching I use them to make a final decision based on what residents think. People experiences vary wildly as with all things, reviews are good to maybe confirm suspicions you have after viewing the apartment yourself. To make sure i didnt miss something important

26 apartmentratings visitor study influence of reviews Extremely Very Moderately Slightly Not at all 30.5% 35.9% 21.1% 6.9% 5.7% Responses: 3,043

27 apartmentratings visitor study what this means ZMOT RESEARCH VERIFICATION DECISION TIME REVIEWS YES/NO

28 apartmentratings visitor study most important reviews Verified Residents Prospective Residents Unverified Other 79.6% 5.4% 2.2% 12.7% Responses: 2,368

29 apartmentratings visitor study number of reviews in 6 months 5 or more Doesn t matter 49.7% 16.0% 9.3% 3.7% 21.2% Responses: 4,325

30 apartmentratings visitor study what this means Renters need multiple reviews from credible sources Looking for proof the community is as advertised

31 apartmentratings visitor study no reviews - change your opinion 57% 19% 24% Absolutely Somewhat Yes No Responses: 1,491

32 apartmentratings visitor study no reviews - proceed to rent 68% 32% No Yes Responses: 4,496

33 apartmentratings visitor study no reviews - comments No - I do need a bit of feedback to determine if a place is suitable for me. No - I would not rent because no reviews means it's bad place to live. No - in these days with reviews that are easy to access, why would anyone take a chance to rent in a bad place when you could easily find a very nice place. Reviews can guide you. No - I would suspect that the apt complex was doing something to remove bad ratings. Yes - I would like to see the apt for myself, then make up my own opinion. Yes - If I had been to the property, viewed it personally, and found it acceptable. I have lived in new properties that had no reviews. Yes - Some new communities may not have reviews.

34 apartmentratings visitor study impact of negative reviews Yes Moderately No Other 76.3% 15.7% 6.0% 2.0% Responses: 2,167

35 apartmentratings visitor study impact of responding Yes Only read reviews No Other Don t read responses 61.8% 16.9% 13.7% 4.2% 3.4% Responses: 3,119

36 what this means to you TOUR OFFLINE TREATED WILL BE DECISION COMPARABLE WELL TREATED WELL

37 SMOT Second Moment of Truth The EXPERIENCE phase

38 48.1% Plan to rent for at least 3 years

39 renewal motivators the renewal formula PREFERENCES service done THEIR way ENGAGEMENT embedding residents PERSONAL BRAND living here makes ME look good

40 communication preferences top 3 overall 87.9% CELL PHONE 73.4% TEXT 50.1%

41 communication preferences 91.9% 91.5% 88.1% 85.6% 81.9% 81.7%

42 communication preferences text is growing 50.1% 38.1% % 2011

43 resident portals why use a portal only 5.7% would NOT use a portal PAY RENT 83.1% SVC REQUEST 75.9% COMMUNICATE WITH STAFF 47.7%

44 resident portals Importance of resident portal Importance of community social media page

45 1 Sense of community renewal motivators 2 Social Media 3 Apartment appearance and condition #1 PERCEPTION OF VALUE 4 Community events 5 Neighbors

46 Sense of community Sense of community Sense of community Sense of community Sense of community Quality of maintenance Apartment appearance and condition Apartment appearance and condition Apartment appearance and condition Social media Apartment appearance and condition Community appearance and condition Community appearance and condition Community appearance and condition Apartment appearance and condition Staff responsiveness and dependability Safety and security Neighbors Neighbors Community events Community appearance and condition Staff responsiveness and dependability Safety and security Community events Neighbors

47 UMOT Ultimate Moment of Truth The ENGAGEMENT phase

48 2017 today s online renter study a closer look 14% impact on leasing decision 46 of 48 social media as a source for information

49 2018 social media study a closer look Low importance for prospects High importance for perception of value

50 2018 social media study a closer look Performance Satisfaction Topics (27 options) Correlation to Value 1 Maintenance courteous and professional 21 2 Office courteous and professional 15 3 Office availability to hear concerns 13 4 Quality of maintenance 19 5 Office, responsive and dependable 8

51 2018 social media study a closer look Correlation to Value Satisfaction Topics (27 options) Performance 1 Sense of community 16 2 Community social media 19 3 Apartment appearance and condition 12 4 Community sponsored events 15 5 Neighbors 18

52 2018 social media study a closer look 31% 3.12 overall follow their community on Facebook satisfaction rating

53 2018 social media study a major opportunity not a major source of information for prospects does not impact a prospect s decision residents are turning their attention to social media #2 driver for perception of value but residents are not engaged with the community

54 2018 social media study standout stats - used daily 76% 72% 61% Facebook Instagram Snapchat

55 2018 social media study standout stats Do you follow your community? Yes No Doesn t Have Facebook 30.99% 64.44% 4.58% Instagram 14.61% 75.33% 10.07% Snapchat 1.36% 81.13% 17.51%

56 2018 social media study standout stats - less than weekly 47% 44% 44% Pinterest Twitter LinkedIn

57 1. compliment 66% would post positive comment if asked 83% have never been asked 19% have interacted via 2. contest ranked 8 of 11 in terms of importance social media 3. question 44% expect same-day response 16% within 2 hours

58 5-step social media plan VOICE CONNECT TARGET CONTENT CONTRIBUTE

59 2018 social media study 1-determine the voice FUN AFFORDABLE HIP CLASSY TRENDY FRIENDLY COZY QUIRKY PROFESSIONAL TRADITIONAL CONTEMPORARY LUXURIOUS MODERN HAPPY ESTABLISHED BEAUTIFUL

60 2018 social media study 1-determine the voice Bridge Asset Development Q21 Apartments

61 2018 social media study 2-connect and engage 86% 71% 68% Connecting with friends/family Entertainment Current news, world events

62 2018 social media study 2-connect and engage LIV Communities LIV Ahwatukee

63 2018 social media study 3-target residents, not prospects How important are these type of posts to you? 1 Community improvement announcements 2 Resident referral incentive 3 Community events 4 Local businesses/promotions/discounts 5 Local events 6 Rent Reminders 7 Current news 8 Community contests 9 Community Photos/Videos (i.e.: events, amenities, etc.) 10 Lifestyle Tips (recipes, how-to's, etc.) 11 Advertisements of vacant apartments

64 2018 social media study 3-target residents, not prospects Churchill Residential Evergreen at Keller

65 2018 social media study 4-beware of hollow content

66 2018 social media study 5-resident collaborators 66% 11% 4% Would if asked Have been asked Have posted a negative comment

67 2018 social media study 5-resident collaborators Pillar Properties The Meyden

68 2018 social media study impact of social media Sense of community 4.75 Social media 4.00 Apartment appearance and condition 4.50 Community events 4.55 Neighbors 3.92 PERCEPTION OF VALUE 4.00 Very likely to renew 45% City: Phoenix, AZ

69 2018 social media study impact of social media Sense of community Social media Apartment appearance and condition Community events Neighbors PERCEPTION OF VALUE Very likely to renew 14% -61% City: Phoenix, AZ

70 2018 social media study Social media efforts should be primarily resident facing and focused on what they want to see

71 2018 social media study The goal is not to increase engagement it s about reinforcing the personality of the community

72 2018 social media study The more consistent the message residents will jump on board

73 trends and triggers LIKELINESS TO RENT LIKELINESS TO RENEW LIKELINESS TO RECOMMEND Perception of value Perception of value Perception of value Apartment appearance and condition Community appearance and condition Sense of community Social media Office responsive and dependable Perception of quality customer service

74 trends and triggers ZMOT FMOT SMOT UMOT

75 trends and triggers ZMOT UMOT FMOT SMOT

76 trends and triggers QUESTIONS?

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