I’ve written about ‘planned scarcity’ before. And this is pretty much a similar thing. It’s the ‘daily special’ from Ann Taylor and today it’s 30% sweaters! (So go get one before they go back up in price!) How can you adjust this promo to your property? This is all about dynamic pricing (and kick starting some sales), so why not do it at your place?
Editor’s Note: This is a GREAT article about the importance of having strong cell signal capability in your apartment buiding or community. With most folks only using their cell phones, this is yet another qualifying criteria for would-be residents: “Does my cell get good service here?”
Carriers and electronics manufacturers are now offering ways to make clear calls anywhere in your house, using devices that route calls through your home Internet connection or pump up the weak signals.
Although I am really supposed to be working (Pete, I’ll get that resident demographic piece done tomorrow…I just needed a break), I found some fun stuff online. So, since there is no one here to talk to about it (kids are asleep, au pair’s on a date, etc.) I am going to share it with you.
If you are like me, you use Microsoft Outlook for your email. And you know the more you use it, the slower it seems to run, right? Well, here’s your answer: www.xobni.com . Here’s the scoop on it:
Xobni, based in San Francisco, is introducing a new tool on Monday that plugs into Outlook. Adam Smith’s (xobni’s founder) general complaint — one that is shared by many users of Outlook — is that the more the program is used, the slower it gets and the harder it is to search for e-mail addresses and phone numbers.
To solve these problems, Xobni (“inbox” spelled backwards and pronounced zob-nee) has produced free downloadable software that, once installed, indexes all the e-mail in Outlook and makes those messages quickly and easily searchable. The software, available at www.xobni.com, will also be sold to companies.
Other programs, like Google Desktop, perform that same basic index-and-search function. But Xobni, which its creators call an “intelligent filter,” adds a few more features. When it scours the inbox, it extracts phone numbers it thinks are associated with the sender. So when a user searches for a person, Xobni presents the number in a side panel to Outlook.
The software also interprets the social relationships between people who are sending messages to each other. For example Xobni recognizes that if an executive sends a copy to someone else on each message he or she sends, it might be to an assistant or another colleague. When someone using Xobni searches for that executive in Outlook, the second person is listed as well.
Just remember: I am only notifying you of this; I am NOT ENDORSING it. It’s in beta, so risks in downloading apply. It looks interesting, though.
The other cool thing is something I totally forgot I ever knew about: Teleflip. It’s a website that lets you send email as a text message. Now, I like that, as I need to regularly communicate with Gen Y’ers who’d much rather text than talk. And I am LOUSY at texting. You see, I was an English major in college so it just goes against my grain to type something like “C U L8R” . (I’m shuddering just thinking about it.) So check it out at www.teleflip.com
CARROLLTON, Texas (May 5, 2008) - RealPage, Inc., a leading provider of on-demand software and services to the multifamily industry, today announced that Essex Property Trust, Inc. is rolling out M/PF YieldStar(r) Price Optimizer (Price Optimizer) for its entire portfolio following an extensive pilot program.
Essex, a public REIT with 133 communities, initiated a pilot assessment of Price Optimizer on three properties in September 2007. Based on initial positive results at those three sites, Essex deployed Price Optimizer at an additional 20 properties in December 2007. Following a comprehensive measurement of performance results at all 23 trial properties, Essex decided to deploy Price Optimizer for the remainder of its portfolio.
”Essex is always looking for ways to continue to outperform the market, and revenue management was a logical next step for us,” stated Erik J. Alexander, senior vice president for Essex. “In our decision to test Price Optimizer, Essex was looking for a way to grow revenue and bring greater standardization and efficiency to the rent setting process. We found that Price Optimizer not only provided us with enhanced visibility into key operational metrics, but also provided the operations team with the confidence necessary to aggressively price units when conditions warranted. We also found the system to proactively push rental rates while managing occupancy to a more consistent level. The results have been impressive.”
This is from the blog at Groundswell, by Josh Bernoff of Forrester Research.
As you can see, 83% trust the word of a friend. But perhaps one of the more interesting points is that the number who trust consumer reviews by people they never met on a retailer’s site (like eBags, the example in Groundswell) is 60%, only slightly lower than “a review by a known expert.”
Why do people trust strangers?
They don’t, not as individuals. But they do in groups. Strangers are assumed not to have an axe to grind. If 100 people on eBags say a laptop bag is great, then it is great. If they say it’s inferior, then it is inferior. Regardless of what a so-called “expert” might say.
What does this mean for your brand?
It means that a focus on “influencers” is not enough. You never know who may be reviewing your product, or where. Influencers may touch a lot of people, but so do the masses of reviewers on Yelp, or Amazon.com, or TripAdvisor. And heaven forbid you get people talking about your brand on The Consumerist.
If most of your customers like you, the lesson is this: help them to talk. Install ratings and reviews on your site. Create a blog and let them respond. Give them online tools and energize them. And embrace the fan groups they form on social networks. Fan the flames.
What if your customers don’t like you? Shutting them up is not an option. My only useful case study for this is Dell, which (1) started to seek out bloggers who were complaining and solved their problems to make them happier and (2) actually improved their customer service. That’s expensive. But if you’re in a cutthroat market it’s required.
Frankly, I don’t have a completely satisfactory answer, so I’m throwing it open to you. What should a company with a poor customer reputation do about social media?
UDR Launches Quick Response Bar Code
Digested From “UDR Inc. Launches Innovative Quick Response (QR) Bar Code
Yeah, it’s weird. Yeah, you might think it’s tacky. But hey, your prospects will definitely remember it. If you’re looking for a ’statement piece’ for your next model, you might like this one from Pottery Barn. No, I don’t really care for nautical either, but you have to admit, you could make it work. $899 full price.
Before you know it, all of your folks who didn’t lease on the first visit will be calling or emailing you and asking, “Are you the building with that blue furniture with the seahorses on it?” You can bet your competition doesn’t have one.
I saw an ad today for a condo deal that gives you - get this - a Mercedes if you purchase. So, I HAD to click through and see what was going on with this property.
I found possibly one of the worst websites for real estate that I have EVER seen. It’s got flashing things, dead links, typos, and some of the teeny tiniest print you’ve ever seen (one of my pet peeves, dontcha know). And then I realized…it’s in the town where I live. Yikes! So, I thought…do I write about it? Do I show it as one of the most messed up marketing programs I’ve ever seen? Or do I do the civic thing and keep my mouth shut?
Well, clearly I opted to let you learn from their mistakes. Take a look at this and let me know if you agree with me. I think it’s a mess and I am guessing the condos aren’t selling all that well. Here’s the link…
p.s. Their contact form has you fill it out with your last name first (like that’s normal), so the autoresponder that came back said, “Hi”. Yet another endearing quality of this particular marketing piece for this property. Oh, and by the way, they don’t talk about the Mercedes that makes you click through the ad ANYWHERE on their site.
Another update: Now they are emailing and calling me about my intent to purchase. Looks like the comments I made on my submission to their website were completely ignored. Good luck to them!
In California, a state senate committee is scheduled to consider new legislation that would give owners of rental housing the option to ban smoking on all or a portion of their property.
Under the bill proposed by State Senator Alex Padilla, residents could continue to smoke inside their homes until their pre-smoking ban rental agreements expired.
A violation would be considered a breach of the agreement and could lead to eviction.
I just returned from the Apartment Internet Marketing conference in Scottsdale, AZ and I can only say that it was an absolutely wonderful event. Great vendors, interesting sessions, great networking opportunities and more. It’s definitely a ‘don’t miss’ event for anyone involved in marketing in the multifamily industry. Keep an eye out for the dates for next years event and block them out on your calendar.
It’s definitely money and time well spent!
