Internet Advertising 101

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Internet Advertising 101
Presented exclusively for the National
Association of Residential Property Managers
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Whats In Store

• How the Internet is shaping the advertising
  marketplace
• Ways in which individuals use the Internet to
  search for home rentals
• Effective follow up techniques to convert
  Internet leads to leases
• Tracking and evaluating your online marketing
  activities
• Maximizing the effectiveness of your ad

Today you will learn
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Internet Power
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Not So Trivial Trivia
?
How many people are connected to the Internet
in the United States? A. 90 million B. 126
million C. 190 million D. 164
million Answer ???
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Not So Trivial Trivia
?
How many people are connected to the Internet
in the United States? A. 90 million B. 126
million C. 190 million D. 164
million Answer C
Media Metrix, November 2008
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Weve Come A Long Way
Since the Internet has become a popular research
tool, weve seen technology come a long way

• THEN
• VCR
• Mobile Bag Phones
• Fax Machines
• Cassette Players
• Maps

• NOW
• DVD
• Blackberry, TREO, PDAs
• Email, Instant Message
• iPods, MP3 players
• GPS

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Internet Usage
More and more people are online every day. The
total Internet audience has increased 35 over
2003.
35 Increase
190 Million
145 Million
2003
2009
Media Metrix, March 2003 November 2008
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Internet User Profile

• 96 are online once a week, 60 are online
  everyday
• 73 primarily access the Internet from home, 23
  access from work
• 89 of online users have access to a Broadband
  connection
• 72 used email within the last 24 hours
• 75 use either Google or Yahoo! as their primary
  search engine

As the Internet grows, advertising dollars are
following consumers online
_at_Plan, Winter 2008
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Online Ad Spending
More and more companies use the Internet as an
advertising resource. Online ad spending is
projected to hit 25.7 billion in 2009.
168 Increase
25.7 Billion
145 Million
9.6 Billion
2004
2009
eMarketer, December 2008
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Online Ad Spending

• Online ad spending is projected to hit 25.7
  billion dollars in 2009 A growth of nearly168
  over 2004!
• Local online advertising spending is expected to
  continue to grow through 2011
• Key advertising segments will continue to be the
  big three classified sectors
• Automotive
• Recruitment
• Real Estate

The Internet is approaching 10 of
worldwideadspending
eMarketer, December 2008
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Research Resources
Where are people looking for rental housing?
Apartments.com Research Study, Frank N. Magid
Associates
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Renters Prefer the Internet
Majority of people prefer the Internet for rental
and moving information when compared to other
sources
Is the mostuseful source
Is the easiestto use
Internet
Newspapers
Free Rental Magazines
Offers informationnot availableelsewhere
Has the mostup-to-datelistings
Apartments.com Research Study, Frank N. Magid
Associates
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The Internet Prospect

• Wants and expects quick access to information
• Tours your rental home online
• Gathers more information than with any other
  medium highly qualified
• Narrows down choices to their top home listings
• Very close to making a decision

You should contact prospects immediately!
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How Renters Find You Online

• Internet Listing Services
• Local Web Sites
• Newspaper Web Sites
• Keyword Search on Search Engines
• Banner Ads Other Interactive Media

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Internet Listing Services

• Who Are They?
• www.RentalHomesPlus.com
• www.HomeRentals.net
• www.Rentals.com

• In researching their move, most search online by
• Location
• Size/Square Footage
• Pricing
• Homes Features Amenities
• Narrowing a search helps qualify a property to
  potential renters

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Local National Web Sites
Expand your online exposure with local and
national Web site partnerships

• Partner with Web sites to target prospects
  researching home rentals in your area
• Some examples include
• Yahoo! Real Estate
• AOL Real Estate
• MSN City Guides
• HotPads.com
• Hello Metro Network

Source The Media Audit
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Newspaper Web Sites
Broaden your online exposure through newspaper
Web sites

• 54 of consumers who look for local or community
  information online use newspaper sites
• Traffic to newspaper Web sites grew by nearly 7.3
  million in 2008 to 67.3 million visitors, an
  increase of 12.1 over 2007
• Research unique mediums to drive local traffic to
  your online ads

The Media AuditNewspaper Association of
America
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Keyword Searches

• Search engine users conduct approximately 12
  billion searches monthly
• Google and Yahoo! are the primary search engines
  for more than 75 of all online users
• 90 of those conducting searches do not go beyond
  the first page of search results
• Internet listing services invest significant
  marketing dollars to drive qualified traffic to
  your online ad

comScore Nov2008 _at_Plan Spring 2009 DM News
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Sponsored vs. Natural Search

• ILSs spend millions of dollars on search engines
  (e.g. Yahoo!, Google) to place in the 1, 2 or 3
  position for keyword search results
• Advertising with an ILS means it foots the bill
  of bringing prospects to your listings via search
  engine marketing

Keyword search criteria
Sponsoredsearch results
Natural search results
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Banner Advertisements

• Graphical promotion used on Web sites as a form
  of advertisement
• First banner ad appeared in 1994
• Banner ads can be sold in one of three ways
• - CPM cost per 1,000 impressions
• PPC pay per click
• PPA pay per action/lead
• ILSs allocate advertising budget to purchase
  banner placement on various Web sites driving
  traffic to their site and leads to your inbox

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Multiple Research Resources

• When looking for rental homes on the Web,
  approximately 84 of renters use more than one
  online source to research

1 Web site
2 Web sites
3 Web sites
4 Web sites
5 Web sites
Apartments.com Research Study, Frank N. Magid
Associates
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Internet Lead Management
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Not So Trivial Trivia
?
Approximately what percentage of Internet leads
do not ever receive follow-up? A.
1 B. 40 C. 10 D. 90 E. All Internet
leads receive follow-up! Answer
???
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Not So Trivial Trivia
?
Approximately what percentage of Internet leads
do not ever receive follow-up? A.
1 B. 40 C. 10 D. 90 E. All Internet
leads receive follow-up! Answer
B
Apartments.com Advertiser Shop 2008
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Types of Internet Leads

• Most Internet leads are delivered to you by
  phone, email or as a walk-in (i.e. open house)
• Phone Advertising sources should provide
  toll-free phone number so contacts can be tracked
• Email Advertising sources should provide the
  option of sending your leads via email or fax

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Types of Internet Leads
Telephone Lead

• Rental prospects contact you directly from your
  number or toll-free numbers Internet listing
  service Web sites provide
• Why is this lead important to you?
• This prospect is specifically interested in your
  rental home and is calling to talk to you
  directly
• Toll-free numbers that Internet listing services
  provide are trackable
• Allow you to accurately gauge the success of your
  Internet advertising

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Types of Internet Leads
Email Lead

• Rental prospects can send an email lead directly
  from your Web site or an Internet listing service
  to the leasing agent to express their interest
• Why is this lead important to you?
• This prospect is online and has toured your
  listing
• By sending an email lead they have expressed
  interest and are now ready for more information

Act fast and respond! This prospect is most
likely still online and engaged!
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Other Types of Internet Leads
Driving Directions

• Interactive maps and driving directions should be
  provided to rental prospects to locate your
  rental home
• Why is this lead important to you?
• Rental prospects who request driving directions
  to your property are most likely going to visit
  in person
• Although you may consider this type of lead a
  walk-in, remember to ask where the rental
  prospect found your ad so you can appropriately
  track the source

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Other Types of Internet Leads
Printable Brochure

• A formatted, printer-friendly brochure that
  allows rental prospects to access information
  about your listing offline
• Why is this lead important to you?
• Rental prospects who use printable brochures have
  immediate access to your listings information
  including phone number and driving directions
• 97 of printable brochure users plan to contact
  the leasing agent at a later date and time

Apartments.com Printable Brochure study, January
2004
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Other Types of Internet Leads
Link to Management Company

• Prospects show interest in a particular listing
  by clicking to find out more about the rental
  home from the management company Web site
• Why is this lead important to you?
• While researching home rentals, prospects will
  look to additional resources to find out more
  information about listings that peak their
  interest
• It is likely that this rental prospect will
  become a phone, email or open house lead in the
  near future

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Why Internet Leads Contact You
There are many reasons Internet leads contact
your property. Have sufficient information
available to answer your prospects questions.
Get more information
Arrange a tour
Ask about available units
Verify the information found on Web site
Get in touch with a human being
Get directions
Discuss price
Apartments.com Research Study, Frank N. Magid
Associates
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Internet Leads Are

• Automatically sent to you within minutes of a
  rental prospect choosing your listing online and
  requesting to be contacted
• Delivered via various mechanisms (e.g. email,
  fax, phone) to designated recipients
• Full of contact information on the prospect who
  has specific interest in your rental home

Now you know HOW and WHY Internet leads contact
your property Whats next?
Act fast and respond before your
competition! Follow-up and sign the lease!
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Not So Trivial Trivia
During a RentalHomesPlus.com secret shop, of all
the email leads sent to advertisers

• 26 responded within 2 hours
• 52 responded within 24 hours
• 63 responded within 1 week

Dont let your highly qualified Internet leads
become another statistic!
RentalHomesPlus Internal Reporting, May 2007
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Important Lead Information

• Lead forms contain valuable information
• Contact information
• Move date
• Desired amenities Hot Buttons
• Leasing agent then knows
• How to contact the prospect
• Interest level of prospect
• Features or amenities that attracted them to your
  home
• Allows you to reinforce the homes features,
  personalize the sales pitch to the prospects
  preferences and GO FOR THE CLOSE

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Internet Lead Response

• Internet leads desire IMMEDIATE feedback
• Contact prospect within one hour and no more than
  24 hours
• Dont miss an opportunity!
• Check email and voicemail regularly
• Rental prospects are probably still online
• Walk them through your online ad
• Schedule an appointment to show it in person

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Phone Follow-Up
The Basics

• Schedule staffing according to your phone traffic
  patterns
• Record a detailed outgoing message about your
  rental property
• Include open house date/times, management company
  office hours, Web site, etc.
• Obtain as much information from the prospect as
  possible
• Dont forget to ask for their email address
• Be sure to answer all of their questions
  completely
• Conduct staff trainings on proper phone etiquette
• Follow-up! Follow-up! Follow-up!
• Track all phone calls as traffic

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Phone Follow-Up

• Your four most important objectives on the
  telephone are

• Build rapport and qualify your future resident
• - Be friendly and knowledgeable on every phone
  call
• Conduct a needs analysis
• - The more information you have, the more you
  can tailor your listings features to rental
  prospects. Ask probing questions to get essential
  information friendly and knowledgeable on every
  phone call
• 3. Get contact information
• - Dont hang up until you have the prospects
  full name, phone number, email address, move date
  and rental requirements.
• 4. Extend an invitation to visit your community
• - Dont be afraid to be aggressive and invite
  the rental prospect to tour your property
• - Offer specific dates and times that are
  convenient for the prospects schedule

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Phone Follow-Up
Overcoming Objections

• Know the common objections that rental prospects
  most often vocalize in telephone presentations
  and be prepared to overcome each specific
  objection!
• Consider the following
• What are some reasons rental prospects do not
  commit to an appointment over the phone?
• What are some reasons that rental prospects do
  not find your listing a good fit?
• How do you overcome these objections?

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Email Follow-Up
The Basics

• Email is the second most common direct
  communication method Internet prospects use to
  show a property they are interested
• Rental prospects who send email leads are online
  and engaged
• Every email deserves a thorough, tailored and
  well written response!

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Email Follow-Up
The Basics
In every email response, be sure to

• Thank the sender for their interest in your
  property
• Answer all questions with specifics about your
  property
• Highlight any pricing specials and unique
  amenities/upgrades to the home
• Invite the sender to make an appointment for a
  showing and tour your property
• Notify prospect of any upcoming open houses
• Include all contact information (address, phone,
  fax, email) in closing

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Email Follow-Up
The Basics

• SPELL CHECK
• Respond by email if a prospect contacts you by
  email
• Include a relevant subject title to ensure the
  email is read
• Keep message brief with
• 2-3 key marketing statements
• Direct answers to questions
• Include brief signature with contact information
• Follow up within 1 hour or sooner
• Set the expectation that you will call if you do
  not hear back from initial email or phone call
  follow-up
• Avoid key SPAM filter characters and phrases
  Free,Urgent, Offer, multiple exclamation points
  (!!!), CAPS, excessive links

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Email Follow-Up
Emails That Sell
Make sure your emails prompt people to think and
take action!
Be Believable
Instead of Our bungalow is so spacious, you can
fit anything inside. Try With 1,200 square
feet of living space, our bungalow on Spring
Street provides ample space for you and your
favorite things.

• Important to be believable and sincere
• Avoid driving rental prospects away by over
  exaggerating

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Email Follow-Up
Emails That Sell
Make sure your emails prompt people to think and
take action!
Be Direct
Instead of Your pets shouldnt be a problem
with the homeowner. Try The homeowner welcomes
all dogs under 50 pounds and invites you to check
out the nearby dog park, its only 2 blocks away.

• Use simple and direct language to answer
  questions
• State restrictive policies such as no-smoking or
  no-pets up front

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Email Follow-Up
Emails That Sell
Make sure your emails prompt people to think and
take action!
Be Informative
Instead of I just showed this rental property
yesterday. It offers so many amenities, I know
youll love living here. Try I see you are
interested in an exercise room. Our listings
recently renovated basement features
state-of-the-art exercise equipment and a
neighborhood trainer to help you get the most
out of your workouts.

• Pay attention to all information provided in the
  prospects email
• Tailor email response to the specific needs of
  the home renter
• Be thorough with responses

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Email Follow-Up
Emails That Sell
Make sure your emails prompt people to think and
take action!
Be Persuasive
Instead of So when you have some time, come
visit our open house this Sunday. Its open from
10AM 4PM. Try This listing is likely to go
fast. We have an open house scheduled this Sunday
but Id like to get you in for a quick tour
beforehand if youre interested. How is this
Wednesday at 530PM?

• Sell the unique features and upgrades to your
  listing in email
• Persuade the prospect to take the next step and
  schedule a showing to see your property

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Email Follow-Up
Emails That Sell
Make sure your emails prompt people to think and
take action!
Be Nice
Instead of Got your email lead and am really
busy right now. The rental on North Ave is
available. The owner allows dogs. When can you
see it? Try Thank you for your email. The
four bedroom rental on North Ave that you
inquired about is still available and I would
love to show it to you. The property features an
extensive backyard and the owner welcomes dogs, I
am sure your Golden Retriever will love it!

• Tone in email is just as critical as the
  information you include
• Smile when responding to an email inquiry
• In a rush? Revisit when you are less frenzied and
  more focused

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Effective Internet Follow-Up

• Be familiar with your online ads
• Respond easily to prospects questions
• Walk online renters through your ad
• Get feedback from people who have seen it
• Follow-up in the manner the prospect contacted
  you
• Respond to leads within 1 hour and attempt to
  contact at least 5 times
• Use additional follow-up vehicles e-cards,
  social invites, social networking Web sites,
  newsletters/e-newsletters, flyers, postcards,
  thank you cards
• Create a system to ensure follow-up and tracking
  of lead source

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Maximize the Effectiveness of Your Ad
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Make Your Ad Appealing
Amenities Upgrades

• Your ad appears each time your listing meets the
  renters criteria and amenity choices
• Stand Out Choose amenities that highlight the
  homes BEST and more UNIQUE features
• Recent renovations? Keep prospects informed of
  any updates that have been made to the home

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Managing Your Online Ad
Online property updater tools provide immediate
access to making changes to your ad

• Online updating tools are offered by most
  Internet listing services
• Make changes to your online ad through the ILSs
  manager center tools
• Make changes to pricing, deposit, amenities,
  property description, driving directions and
  more!

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Online Advertising
Assume the Sale

• Internet leads are ready to purchase
• Have likely already viewed your propertys photos
  online
• Have made educated decisions throughout the
  process
• The physical product of listings they have
  selected are likely the same
• The intangible product will differentiate your
  property through emotional appeal
• The Internet will never replace you people will
  still be a part of the selling equation

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Recommended Next Steps
Get Your Colleagues Up To Speed!

• In the next three weeks you should
• Review your ad online and make necessary updates
• Conduct training for your entire staff
• Implement an incentive plan for following-up on
  Internet leads
• Share this handout with your entire staff
• Consider adding supplemental marketing to support
  your online ad
• Install a tracking system and start to calculate
  your results

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What Youve Learned

• How the Internet is shaping the advertising
  marketplace
• Ways in which individuals use the Internet to
  search for home rentals
• Effective follow up techniques to convert
  Internet leads to leases
• Tracking and evaluating your online marketing
  activities
• Maximizing the effectiveness of your ad

Youve learned
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Thank You!