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marketing

I’ve been intrigued by the dynamic of building lead volume in our Apartment Finder business over the past year.

As I’ve discussed before, the multi-family marketing business is a competitive, lead-generating business that is driven by consumer’s accessing print and online directories and inquiring about apartments for rent.

There are three ways that marketing companies like Apartment Finder hand customer leads over to its clients:  a phone call directly to the apartment community; an e-mail to an apartment community, either directly or through a leasing intermediary; a click-thru to the apartment community web site; and, a prospect who walks directly into the community leasing office without making prior contact.

This week, one of our biggest competitors in the space shared a few public metric related to their lead production.  According to their recent earnings release, the company increased leads 35% year-over-year, and currently produces more than 75% of their leads from their Internet and mobile platforms.

lead comparison.pngThat made me curious.  How did our metrics at Apartment Finder measure up?

The chart to the right shows the increase in lead production at Apartment Finder over the past year.  Overall, leads gained 43%.  Phone leads were up 25%, e-mail leads were up 169% and click-thru’s to property web sites were up 71%.

This data is derived from two third-party sources:  CallSource, which manages our tracking number program, and Omniture, which provides us with web analytics.

Most interesting to me was the distribution between leads from print distribution and from internet and mobile distribution.

At Apartment Finder, 53% of our leads, including click-thru’s, are driven by our Internet distribution and 47% by print.  Subtract click-thru’s, which can’t be tracked back to a specific individual, and the ratio drops closer to 50-50.

But the key issue isn’t what source the lead comes from.  The issue is how useful the lead is.

I had an engaging conversation around the relative quality of leads with a leading apartment marketer at the National Apartment Association Conference this past June.  E-mails that are generated as a by-product of creating an appointment to see an apartment had a high conversion, he said.  Phone calls to the community were the second best kind of lead.  And e-mail inquiries were the lowest-converting type of lead.

That means there are other metrics that can point to how good the lead generation of a marketing partner will be.  A big one is the percentage of phone calls to e-mail leads.

At Apartment Finder, 80% of our leads from print and internet are phone calls.  20% are e-mails.   That’s an exceptionally good ratio, I think.

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When you are using content to influence consumer behavior, the context that the content is delivered in has a big influence on how consumers respond to the messaging. This maxim is an important factor in designing content marketing and social media programs. Experience suggests that consumers impute authority to two types of content: content that is considered and structured; and content that is personal and authentic.

Take recent research from SheSpeaks and iVillage that was reported on in eMarketer this week.

The survey examined how women interact with brands on digital platforms. The big headline was that while women follow brands on different social platforms, brand content delivered on those platforms has relatively lower impact on purchasing decisions.women digital shopping path

I was struck by the relative weighting of different kinds of online content in influencing shopping behavior, and the degree to which context appears to have an impact on influence.

For instance, three categories of content had consistent impact on female consumers: reviews on message boards; articles on general interest websites; and content about products on brand websites.

Each of these three venues has assumptions built into the context that the content is delivered in. Messages boards and review sites have a self-policing nature, where reviewers gain credibility by their relative weight in the social group. General-interest websites present the same kind of editorial independence that traditional magazines have long benefited from. And brand sites have an underlying regulatory framework, since consumers understand that brands are required by law to make supportable claims about their products and services.

Each of the three categories has an foundation of trust that creates a positive context for the content.

The survey suggests that social platforms like Facebook and Twitter are less credible sources of information to women shoppers.

This assertion assumes, however, that the primary purpose of the social platforms is to communicate information about the brand.

Within a well-structured social media marketing program, social platforms serve two important purposes: content distribution and consumer engagement. In each case, the purpose of the program is to create awareness and to give the consumer easy access to points of contact and information.

The brand web site — and by extension, a brand blog — are the appropriate distribution points for brand content. Consumers are more inclined to trust content that lives within a trusted context.

Social media marketing is the integrated execution of two different marketing activities that are supported by content and engagement. Consumers will respond to authentic content, but not when they encounter it out of context.

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Increasing a focus on internet marketing for SMB’s isn’t enough; solving the analytics equation is a big challenge

May 21, 2010

An Emarketer analysis this week of two research studies concluded that social media was going to be a big focus on web marketing expansion by small businesses.
Our experience on the ground selling our DigitalSherpa service confirms the direction of the surveys.  Once we get into a discussion about how content marketing and digital networking can [...]

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An analysis of my 11-day content drought

May 21, 2010

In the 455 posts since I launched ViralHousingFix on January 4, 2009, there hasn’t been a longer gap than the one between Post 454 and this post, number 455:  11 days.
The workbook I use for my professional notes is chock full from the past two weeks, and the program I store interesting snippets in has [...]

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Emerging local businesses spend 30% of their budget on digital marketing, driving a structural change in the market, BIA/Kelsey research shows

April 26, 2010

The landscape for local advertising, particularly by small- to medium-sized businesses (SMB’s) is undergoing a profound shift that is being masked in part by the overall downturn in advertising spending, two recent research reports from BIA/The Kelsey Group demonstrates. The key for local media companies is to segment the SMB client base in relation [...]

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Socially-enhanced ads have higher recall, purchase intent, Nielsen study claims

April 20, 2010

Nielsen has released a study today that looks at the effectiveness of different kinds of Facebook advertising. The goal was to determine whether ads that leveraged a brand’s social network — which Nielsen is calling “earned media” — performed differently than traditional ad formats.
The big headline: Socially-enhanced advertising has higher recall and higher [...]

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Media consumption down during the recession…Were consumers avoiding ads?

April 19, 2010

Here’s a surprising bit of research: Consumers reduced the amount of time they spent consuming media during the recession, according to a Yankee Group survey reported on by eMarketer.
Media consumption dropped 17% from 2008 to less than 12 hours a day.
The one media exempt from the reduction was mobile.
Activities decreased almost across the board, [...]

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