guerilla marketing 2011

Kirkpatrick Management Company. Inc.

Guerrilla Marketing

Revolutionary Strategies & Tactics

Who Are We?

Julie Spear, COSCompliance & Training Specialist; Kirkpatrick Management Co., Inc.

Natalie Mabbitt, RCMRegional Property Manager; Kirkpatrick Management Co., Inc.

Sneak Preview

Step-By-Step Guerilla Strategies and Tactics to Developing a Marketing Plan Specific to Your Cooperative

Elements of the Marketing Plan Non-Traditional Marketing Ideas/Examples Fair Housing Requirements

Webster’s Definition Marketing

The process or method of promoting, selling and distributing information to consumers and potential customers.

Guerrilla Marketing

Means by which you can implement marketing ideas through low-cost, non-traditional , sometimes radical methods….

Marketing “…the aim of marketing is to know

and understand the customer so well, that the product or service sells itself…”

~ Peter DruckerConsidered to be the master (some even say inventor) of marketing for the 20th Century

The 5 P’s of Marketing Product

Promotion

People

The ProductGuerilla Strategy

Physical Product - Size, Condition, Floorplans,

Brand Identity- Pinpoint your “One Thing”?

Features, Amenities, Quality, Atmomsphere

* Your Reputation: Good? Bad? or Indifferent?

* Logo – Tie into Brand

Guerilla Tactic Objectively identify all

aspects - good and bad. Emphasize Positives Schedule necessary

repairs and upgrades and set a timeline to correct all negative features identified.

Distinguish your best features and the image you wish to project.

The PriceGuerilla Strategy

What can Target Market afford to pay?

Monthly Carrying Charges

Membership Fee & Equity

Utilities What does your price

include? Any Subsidy in place? Market Analysis

Guerilla Tactic Study Area Median Incomes

& Any Income Limits. Analyze $/sq.ft for area

rentals and home sales, which are competition.

Is your equity payment an investment? Or does it compare to required deposits in your area?

Calculate $ value of Utilities and Services included in your Housing Charges.

The Promotion

Advertising Publicity Sales Personal Selling Word of Mouth Image Management Web Social Media

The Place Physical Location – includes all of the

specific physical aspects of the property Relative Location – emphasizes the

location of the property in relationship to resident needs and desires

Comparative Location – how your property compares with other apartment communities with which you compete

The People

On-Site Personnel Contract Workers Marketing Partners and Vendors Board of Directors Management Team

Why a Marketing Plan? It requires you to produce a quantifiable

analysis of the Cooperative, measuring strengths and weaknesses, develop a resident profile, and identify your market in a clear and objective way.

It encourages effective use of resources and budgeting. Use as a tool to monitor and control marketing costs vs. results.

A clear cut plan, implemented step by step, will produce the best results.

…Because of Vacancy Loss

Example: 10 vacant units per month; carrying charges of $500 per month

This is $5,000 worth of lost income in 1 month

If all of these units remain vacant for an entire year your coop loses $60,000 annually

This is money that can NEVER be recovered.

Step-By-Step to Your Marketing Plan

Step #1: Purpose of Marketing EffortsStep # 2: Analyze Current MarketingStep #3: Identify Target MarketStep #4: Identify Your CompetitionStep #5: Select Marketing ElementsStep #6: Create a BudgetStep #7: Create a TimelineStep #8: Monitor the ResultsStep #9: Re-evaluate the Plan

Step #1: Purpose What do you want to

accomplish (goals)?

Reduce vacancy/Build Waitlist?

Create a more diverse community?

Increase your value and Member return on equity?

Decrease costly turnovers Improve desirability of your

“Brand”

Step #2: Analyze Current Efforts

What are you doing now? What have you done in

the past? What has worked the

best? Have you measured

efforts? Traffic Log Document Analyze Statistics in

Crime, Complaints, Turnover, Evictions

Step #3 Identify Target Market

Who do you want to reach with your Marketing efforts?

How do you determine who your target market is?

Do you need to diversify your demographic?

Positioning for the Target Market

Does what you offer provide a benefit to your target customer’s needs?

Will the benefit be perceived as real and meaningful?

Does it truly separate you from the competition?

Is it unique or difficult to copy?

Understanding & Tracking Trends

Average Income / Median Income Employment Growth/Decline Interest Rates Overall Health of Real Estate Market Military/Student Populations Crime Statistics

Step #4: Identify your competition

If a person is looking for housing in your area what other communities will they be looking at?

What amenities do they offer? What is their cost per month? What does that monthly payment include? How are they marketing their community? Complete an annual market survey

Step #5: Marketing Elements

Elements of a Marketing Plan…

Curb AppealResident RetentionSite StaffCommunity OutreachLogo/SignagePrint AdvertisingWeb

Curb Appeal

What Meets The Eye

Curb Appeal – Guerrilla Strategies

Lawn Maintenance/Landscape Trash Pick-Up Window Coverings Patio Conditions Night-Time Appearance Signage Condition of Buildings Parking Lots/Drives Neighborhood Environment Member Involvement

Curb Appeal – Guerrilla Tactics

Grounds Committee Community Clean-Up Day/Beautification Day Partner College/University Horticultural Students Member Contests Community Vegetable Gardens Seasonal Plantings/Decorations Give-Aways: Flowers, Outdoor Decor Areas for Benches, Cook-Outs, Picnicking New Porch Lights, Mailboxes, Address #’s, Shutters

Resident Retention

Feeling “At Home”

Membership Retention Necessary for Cooperative

Survival?

Reduces Turn Over Costs.

Makes the Property Desirable.

Allows for Realistic Budgeting.

Affects the Bottom Line.

Member Retention– Guerrilla Strategies

Provide your Members with Top-notch Customer Service

Create a schedule of tangible Incentives for Members to stay year after year

Why throw precious Marketing resources at Prospects INSTEAD OF Existing Members?

Respond promptly to Member complaints and concerns.

Organize events designed to include your Members in their community.

Give reasons for Members to get involved and experience a sense of belonging.

Member Retention– Guerrilla Tactics

Communication– Newsletter/Notices– Social Media– Survey

Reward Programs– Referral/Early Bird– Contests– Annual Retention Award

Customer Service– Maintenance Dept.– Management– Board of Directors

Member Retention– Guerrilla Tactics

More Resident Retention IDEAS

Complaint Resolution Helps Members to feel valued, validated and

respected. Institute a policy requiring all complaints be

submitted in writing Record of Contact per Household Listen attentively, respond non-defensively. Require written follow-up on all complaints

including those addressed in person Consider introducing a Moderator to settle

disputes between Member households.

Site Staff

Your First Line of Marketing

Staff Professionalism: Office Staff

First Impression Attitude Community Pride Knowledge Friendly Demeanor Confidentiality Continuing Education Follow-up

Telephone Technique Goal of the Prospect Call

1. To Create Interest in Your Community2. Build a Rapport With the Prospect3. Convert the Call to an On-Site Visit

Framework of the Prospect Call1. Greeting2. Qualifying3. Presentation4. Closing

Guest Card Collect basic contact

Information

Be sure to document how the potential Member heard about the Cooperative

Follow-Up with a phone call and/or thank you note

The Demonstration Again, you only get 1

chance to make a first impression, so…– Stand Up– Make Eye Contact – Shake Hands– Act Interested– Make Them Feel

Welcome Model Apartment Tour Community Overcome Objections

Staff Professionalism: Maintenance Staff

Skilled Workmanship Personal Attitude Friendly Manner Clean Appearance Confidentiality Property Pride Pride in Co-Workers Follow-up

Community Outreach

Make Friends

Informal Networking Workplace Church PTO – Schools Social Organizations i.e. Union

Meetings Local Businesses Vendors

Formal Networking City Council Chamber of Commerce Planning Commission Local Housing Authority Police/Fire Department

Logo/Signage

Visual Marketing Queue

Before & After

Print Advertising

Do Judge a Book by Its Cover

Representation Stationary

LetterheadEnvelopesBusiness Cards

BrochureFloor Plans

Newspaper Advertising Magazines/Guides Flyers

Good Advertising Can.. Describe services & feature benefits to new

residents Announce New or Upcoming Improvements Inform Prospects of your Co-op’s

Community Involvement – Get Involved!! Create awareness of your community with a

new target audience Inform existing & potential residents about

events or special promotions

Guerrilla Tactics Seasonal Special Ads Open House/Announcement Ads Tie ads in with Current Events Trade Advertising with Local Businesses Make your own flyers

Do just enough to capture attention and bring them in. Then begin “The Cooperative Difference” education

Fair Housing Marketing & Advertising

Use the “Equal Housing Opportunity” logo and statement properly

Display a fair housing poster Avoid inappropriate words in

advertising Maintain a log of all changes in

eligibility criteria, rates, or other leasing policies

The Web

Back to the Future

Internet Users by Age Age 18 to 34 – 37% of Total Users

25-34 years = 23%18-24 years = 14%

Age 35 to 54 – 49% of Total Users45-54 years = 17%35-44 years = 32%

Age 55 to 65+ – 14% of Total Users65+ years = 5%55-64 years = 9%

E-Marketing Getting the Lead From Your Website 3-D Site Plans Interactive Site Plans With Area Businesses,

Resources and Attractions Online Coupon / Specials 3-D Floor Plans Virtual Tour Link to site for Directions (Map Quest) Eligibility Criteria On-Line Application & E-mail Link to Sales Office Links to Your Social Media Pages

E-Brochure

What Should It Include?

Phone Number, Address, E-Mail, Fax

Floor Plan Photos/Visual Stimuli Amenities Office Hours “Call To” Action Links to Additional e-marketing Link to office e-mail

E-Retention Work Order Requests Community Calendar Newsletter Rules & Regulations Management

Communication Membership Sales Electronic Payment

Options Suggestion Box

Twitter LinkedInWordpressFlickrStumbleUponYouTube

Social Media – Options, options,

options

Social Media - Facebook

Number of Facebook users worldwide, greater than entire population of U.S.

Over 75% of all internet users have social media pages, with facebook being the most used.

4 out of 5 online Americans use social technology.

Survey Says:* 4 out 93% of

Facebook users believe a company should use social media

* 85% of Facebook users believe that companies should also interact with their customers.

Social Media - Facebook Very user friendly and

Easily Maintained If you’re not on

facebook yet – you are missing the boat...

Wide variety of uses and applications

FREE!!!

Use to positively influence your Brand

Engage Prospects and Members with marketing and retention tools.

Monitor uncensored conversations about your community.

Instant feedback.

Social Media – FacebookTips on setting up Your Page Be sure you create a

“Fan Page” account. This type of account is specifically for business to promote their services, different from a private user page.

If you select correctly, your “Fans” will “Like” you, NOT “Friend” you.

Name your account the exact formal name of the community, as closely as possible.

Helps Fans find you, and clearly describes your business.

Your page should be a reflection of your business philosophy.

Social Media – FacebookTips on setting up Your Page Next, select a profile

picture that best expresses your Cooperative’s personality.

Then select more photos to display. Photos of people are the best attention grabbers.

Be sure your ‘Brand’ is well reflected.

Profile picture will appear as a thumbnail image throughout site, and next to all comments and posts.

Try to make your page visually appealing, with interesting content.

Social Media – FacebookTips on setting up Your Page

Next, select “Add information to this page” underneath the profile picture and fill in as much basic and detailed information as possible, to positively reflect your Co-op.

Select links to any businesses and organizations you are associated with.

Optimize performance by adjusting various controls in “Edit Page”.

Finally, Select “Publish” and go public with your page!!

You are now on Facebook.

LIKE!!!

Social Media - Guerilla Strategy

Implement a written Social Media Policy for Staff. Designate 1 – 2 people as Coordinators to insure

content is kept appropriate, on-topic and relevant to your Marketing goals.

Encourage staff to participate according to policy guidelines, so Members enjoy engaging with them

Use Facebook to engage, inform, entertain, notify. Keep the posts short, lighthearted and include

photos. Ask questions that encourage responses. Update consistently. Give “Fans” a reason to visit. Use Marketplace Tab to post Advertising.

Social Media – Guerilla Tactics

Games: Bingo, Trivial Pursuit, Scrabble – open to Members OR Prospects.

Question of the Day. Don’t use yes/no Questions, goal is to open a dialog with Members/Prospects.

Picture of the Week. Recipe Contest. “On this day in History…” Member Profiles.Birthday/Anniversary.

Monthly Decorating Tip – Include photos, specific to your floorplans. Give away an item used in the tip.

Get staff involved. Ask them to create a “work page” in their name, separate from any personal pages they may have, and interact on your Co-op page.

Step # 6 & # 7: Budget & Timeline

How much do you have to spend on your marketing efforts?

When will you begin your marketing?

Step #8: Monitor the Results

Site office needs to ask every person that calls or comes into the office how they heard about the cooperative

Track the results on a continual traffic log

Step #9: Re-evaluate Use your traffic log to find what is working

best and least Be Flexible… if an element isn’t working

don’t keep using it change to a different element

Keep a record of what you’ve tried in the past

This will ensure that your marketing dollars are spent in the most useful way

Keys to a Successful Plan Make a commitment to the plan

Patience is critical – It may take 3 to 6 months to get the response you need and even more time to see the results

Consistency is critical – Don’t change your message or stop marketing for long periods of time

HUD Requirement HUD-form 935.2A – Affirmative Fair

Housing Marketing Plan Should be kept in site office Must be updated every 5 years Make sure you incorporate what you

have told HUD you would do into your plan

Additional Suggestions: Evaluate Application Approval Process Evaluate Membership Selection Plan Appearance of the Office

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