Steve Gilbert of Mission Residential presents thoughts on managing and thriving with online review sites from an apartment industry perspective.

1. AIM 2010 South Park, Social Media and Your Organization: The Philosophy Behind It All Steve Gilbert Sr. Marketing & Internet Advertising Associate Mission Residential Steve Gilbert Senior Marketing & Internet Advertising Associate Mission Residential www.MissionResidential.com

2. THE CHALLENGE Social Media – Technology or Philosophy? Democratization of Company Performance “You No Longer Control Your Brand Message” Easily Accessible User Generated Content is Already Out There Better Business Bureau ApartmentRatings.com Yelp RentWiki.com Google Side Wiki “You can’t beat ‘em… JOIN ‘EM”

3. THE NATURE OF SOCIAL MEDIA BEWARE THE MONKEY! Be transparent Encourage feedback from customers Monitor what is said Engage who is saying it Enforce accountability and action Don’t be a fake WHAT IS THE PAY OFF? Separate the positive customer satisfaction performers from the bad.

4. THE NATURE OF PEOPLE The “Good” – 10% of Reviews “The leasing manger, David is outstanding. He was on top of things from the moment I walked thru the door.” The “Bad” – 85% of Reviews “It is pretty ludicrous to charge money to pay rent on line.” The “Ugly” – 5% of Reviews “The resident needs to have the pool open on Sunday so that she can baptize her kids.”

5. SOCIAL MEDIA – PROFIT, RIGHT!

6. BUT, EVERYONE ELSE IS DOING IT… PHASE 1PHASE 2 PHASE 3 ? Collect customer reviews Profit

7. CONNECTING THE DOTS… Resident Retention Resident Referrals Turnover Expenses Content Quantity Content Quality Customer Satisfaction Lead Generation? Integrate with Resale/ CRMS? Recognition Program? Tie-in with Employee Bonus Program? Thank You Gifts? Other Incentives? Annual Resident Survey? Response Protocol? UGC/3rd Party or Both? Push/Pull Strategy? Resident Retention Plan Tie-in with Existing Branding? Buy-in? Resources? Corporate Culture?

8. IT’S ALL MARKETING’S (circle one) FAULT / ACHEIVEMENT

9. LEVERAGING REVIEWS INTO DESIRED RESULTS

10. GOALS AND BENCHMARKS OF SOCIAL MEDIA Short-Term Set a monthly benchmark and incentive for positive user generated content Set a short term benchmark for ApartmentRatings.com and other ratings sites – “Set it and they will Come” Develop a motivational program that identifies key performers within your organization Mid-Term Create and set monthly customer satisfaction survey goals Define and set attainable resident renewal percentage goals Identify realistic turnover expense reductions Increase resident referrals from existing review boards Long-Term PROFIT! $1,500 - $2,500+ bottom line impact per resident saved Leverage reviews to identify and recognize achievers

11. SUMMARY Social media is a philosophy espoused through your business objectives and driven with customer satisfaction Develop a plan that is congruent to your organization, culture, resources and expectations – one size does not fit all Have a clearly defined plan that is shared across your organization Positive or negative reviews pose the same opportunity for improved customer perception – it’s all about how you respond

12. Feel free to e-mail me… sgilbert@missionres.com www.missionresidential.com QUESTIONS, COMMENTS, COMPLAINTS?