top 3 megatrends altering the multifamily · 2018-02-06 · cro best practices . what we’re...
TRANSCRIPT
Steven OzbunPresident and Managing
Partner
LeaseLabs
Barrie NicholsVice President, Leasing
and Marketing
University Student Living
Meet The Experts
Maria FilipponeDirector of Marketing
Peak Campus
Today• Current State of Consumer Behavior• Current State of Marketing
Megatrend #1 – People Base Marketing• The 4 P’s and the 4 C’s of Marketing• How does this affect Student Housing Marketing Strategy?
Megatrend #2 – Intricate Customer Journeys• Journey through multiple devices and touchpoints• Cross-Device Optimization Techniques
Megatrend #3 – Bottom Line Analytics• Conversion-Rate-Optimization• Examples of CRO• CRO Best Practices
What We’re Talking About
Current State of Consumer BehaviorAverage Time Spent Per Day With Select Media By US Adults*BI Intelligence
Current State of Consumer Behavior
Global mobile penetration is projected to reach 70% of the total global population by 2022
Current State of Consumer Behavior
125 Million U.S. consumers own smartphones
62% of smartphone users have made a purchase online using their mobile device in the last 6 months
80% of shoppers used a mobile phone inside of a physical store to either look up product reviews, compare prices or find alternative store locations
Current State of MarketingMessenger Apps
Facebook is aiming to monetize it’s Messenger app of 8 billion active users with in-app advertising
and mini-apps
Influencer Marketing
Current State of Marketing
On a global basis, influencer marketing ad spend is poised to reach between $5 billion and $10 billion in 2022
Influencer Marketing for Student Housing
Micro-Influencers | 50,000 Followers or Less
Current State of Marketing
People Based Marketing
4P’s• Product
• Price
• Place
• Promotion
4C’s• Choice
• Convenience
• Cross-Device
• Creative Storytelling
People Based Marketing
65% of consumer begin the path of purchase on a smartphone
61% of those continue on a PC/Laptop
4% continue on a tablet
People Based Marketing
64% of consumers cite shared values as the primary reason they have
a relationship with a brand - Harvard Business Review
On average, 5 to 7 brand impressions are necessary before
someone will remember your brand - Pam Moore
Intricate Customer JourneysConsumer Behavior
Once upon a time, the online customer journey was undertaken on one device –the laptop.
Intricate Customer JourneysIntroduction
“It takes 7-13+ marketing and brand touch points to deliver a qualified lead to sales.”
– Salesforce
Intricate Customer JourneysSample Touchpoints• A physical connection, such as walking by your apartment as it’s being built
• Seeing an ad, either physical or digital
• Seeing your logo, maybe as a sponsor or on a brochure
• Seeing your social media posts
• Receiving your e-newsletter or other email marketing piece
• A phone call
What’s Next? Cross Device Attribution
Intricate Customer Journeys
How? Deterministic and Probabilistic Matching
Cross Device OptimizationDeterministic and Probabilistic Matching
Deterministic:
Uses a user’s personally identifiable information to create
a link between devices. If you use the same email address
to log in to both an app and a website on separate
devices, you can be tracked and targeted.
Intricate Customer Journeys
Cross Device OptimizationDeterministic and Probabilistic Matching
Probabilistic:
Uses the analysis of thousands of pieces of anonymous data points to create matches between devices.
Example: If a user logs onto the same wifi network at home every evening on their laptop, mobile and tablet – probabilistic matching can determine that these devices belong to the same person
Intricate Customer Journeys
Customer Journey Mapping Exercise
Intricate Customer Journeys
Property: Vue on Stadium Drive
Location: Fayetteville, AR
School: University of Arkansas
Analyzed Website Data:
1.1.17 – 12.31.17
Intricate Customer Journeys
Customer Journey Mapping Exercise
Key Takeaway:
The majority of Vue’s website users are prequalified by the time they come
to the website. This can occur from previous online or offline marketing
touchpoints. So, Vues brand awareness campaigns are paying off.
Keep the Big Picture In Mind
“While changing button colors and text is important, the big picture is more important. If you are tweaking away at a crappy site, you will have a well tweaked crappy site. More or less, you will have a Titanic with chairs that are arranged nicely on it.
Focus on bigger tactics such as your website's user experience, your credibility, and your mobile tactics. Once your branding, message, and delivery is fine tuned, that's when you can "re-arrange your chairs.”
-Larry Kim | Founder, Wordstream
Bottom Line Analytics: CRO
CRO Best Practices for MultifamilyFOMO: Fear Of Missing Out1. Making exclusive offers2. Time limits3. Displaying limit on number of products left
Bottom Line Analytics: CRO
Amazon – King of ecommerce FOMO
CRO Best Practices for multifamily
Reputation Management & Social Proof • Leverage other people and their social influence
to push users to achieve conversion goals. • Testimonials are very powerful and you can
decide to show them up in specific pages to push for easier and faster decisions.
• For even greater credibility, you can include real attributions, photos and video testimonials.
Bottom Line Analytics: CRO
CRO Best Practices for multifamilyReputation Management & Social Proof
Bottom Line Analytics: CRO
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CRO Best Practices for multifamilyReputation Management & Social Proof
Bottom Line Analytics: CRO
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Steven [email protected]
Barrie Nicholsbnichols@themichaelsorg
.com
Contact Information
Maria Filipponemfilippone@peakcampus
.com