Marketing Marketing Through The Through The

AgesAgesJeremy SchneiderJeremy Schneider

Founder, RentLinxFounder, RentLinx

Lead Developer, MichiganHousingLocator.comLead Developer, MichiganHousingLocator.com

Michigan Conference on Affordable HousingMichigan Conference on Affordable HousingApril 28th, 2008April 28th, 2008

Internet: Not Just for Kids Internet: Not Just for Kids AnymoreAnymore

78%78% of renters have a computer in of renters have a computer in their home and their home and 85%85% of those of those subscribe to high speed Internet. subscribe to high speed Internet. 11

72%72% of renters begin of renters begin their search on their search on the Internet when moving to a new the Internet when moving to a new area. area. 22

Senior housing too! Many adults use Senior housing too! Many adults use the Internet to search for their the Internet to search for their parents.parents.1. NMHC Apartment Renter Technology Survey, 2007

2. MyNewPlace, Compete Survey, 2006

Obligatory Mention: Traditional Obligatory Mention: Traditional Internet Listing Services (ILSs)Internet Listing Services (ILSs)

Pay-to-ListPay-to-List Pay-per-leasePay-per-lease Renter-PayRenter-Pay

Pros:

•High visibility

•Potentially less competition

•Well marketed sites

Cons:

•Can be pricey

•No ROI Guarantee

•Unnecessary pay-per-lease bills

Top Real Estate Sites"The long tail"

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

Tra

ffic

Mar

ket S

har

e

Top 10 sites have only 29% Market Share

"The Rest" get 71% of the traffic

The Long TailThe Long Tail

*Source Hitwise and Inman news

Causes of the Long Tail?Causes of the Long Tail?

Little collaboration between major Little collaboration between major playersplayers

Localized popularity of smaller sitesLocalized popularity of smaller sites Vastly varying costs to advertise Vastly varying costs to advertise Many housing providers making Many housing providers making

varied choicesvaried choices Many renters making varied choicesMany renters making varied choices

** Brought to you by MSHDABrought to you by MSHDA www.MichiganHousingLocator.comwww.MichiganHousingLocator.com Free to list! Free to search!Free to list! Free to search! Affordable and Accessible housing Affordable and Accessible housing

optionsoptions 24x7 Access, Unlimited updates24x7 Access, Unlimited updates Easy to useEasy to use Part of the RentLinx networkPart of the RentLinx network

FREE!

MHL SuccessMHL Success Went live December, 2006Went live December, 2006 1,046,1441,046,144 Property Views in last 12 Property Views in last 12

months!months! 12,56712,567 leads in last 12 months! leads in last 12 months! 11,000+ 11,000+ properties representing properties representing

231,000+231,000+ Michigan rental housing Michigan rental housing units listed – and more are added units listed – and more are added every dayevery day

MHL Property ViewsMHL Property Views

Michican Housing Locator Property Views per MonthDecember 2006- March 2008

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

Pro

pert

y V

iew

s

MichigMichigan an

HousinHousing g

LocatoLocatorr

MHL:MHL:Search Search ResultResultss

•Sorted by Modification Date

•Users can mark favorites

TIPTIP

Keep your property information current!Keep your property information current!** Jump to the top of the list! Properties are Jump to the top of the list! Properties are

sorted by modification datesorted by modification date Click “Mark as Current” to update modification Click “Mark as Current” to update modification

datedate

MHL:MHL:View View

results results on a on a mapmap

TIPTIP Add Photos!Add Photos! Take photos on sunny days!Take photos on sunny days!** More photos = More traffic!More photos = More traffic!

EXLCUSIVE

Average Property Views in March '08Based on number of photos listed

35.6

92.1

113.0

0.0

20.0

40.0

60.0

80.0

100.0

120.0

None Exactly 1 More Than 1

Number of Photos

Vie

ws

*Statistics as tracked by RentLinx on the RentLinx network of sites

TIPTIP

Add interior photos and floor plans!Add interior photos and floor plans! Renters love itRenters love it Some sign leases sight-unseen!Some sign leases sight-unseen!

MHL:MHL:ProperProper

ty ty DetailsDetails

•Attachments & Links

•Labels by MSHDA

•Photo Gallery

•Print Brochure

•Mark as favorite

•Utilities

TIPTIP

Use the description!Use the description! Potential residents crave the detailsPotential residents crave the details A great place to list everything that won’t fit A great place to list everything that won’t fit

elsewhereelsewhere Search engines thrive on this content!Search engines thrive on this content!

The Long Tail – Search The Long Tail – Search KeywordsKeywords

EXLCUSIV

E

Top KeywordsMarch, 2008

0

50

100

150

200

250

300

Vis

its

The top 10 keywords make up a tiny 2% of the 75,546 visitors who reached us through search engines

43,776 unique keywords accounted for 98% of the visits

*RentLinx.com keyword stats from Google Analytics

What are renters What are renters searching for?searching for?

““Top” KeywordsTop” Keywords #1. “kalamazoo apartments”#1. “kalamazoo apartments” #2. “royal oak apartments”#2. “royal oak apartments” #3. “ann arbor apartments”#3. “ann arbor apartments”

Some other “down the list” searchesSome other “down the list” searches #883. “income based apartments michigan” #883. “income based apartments michigan” #3,139. “senior subsidized living in garden city #3,139. “senior subsidized living in garden city

michigan”michigan” #13,052. “all bills paid apartments flint, mi”#13,052. “all bills paid apartments flint, mi” #22,361. “for rent gas light district of grand rapids, mi”#22,361. “for rent gas light district of grand rapids, mi” #35,477. “show me all the apartments by the #3 bus #35,477. “show me all the apartments by the #3 bus

route”route”

EXLCUSIV

E

MHL:MHL:Unit Unit DetailsDetails

•Interior Photos

•Map

•Modification Date

MHL: MHL: Satellite Satellite ViewView

Taking credit for Google’s hard work.

TIPTIP

List the rent or rent range!List the rent or rent range! Renters prefer to see places they know Renters prefer to see places they know

they can afford instead.they can afford instead. If your rent is based on income, use If your rent is based on income, use

the description to describe general the description to describe general qualificationsqualifications

Provide a link to your income Provide a link to your income qualificationsqualifications

TIPTIP Add links & attachments!Add links & attachments! Links provide helpful info to renters and Links provide helpful info to renters and

improve the search engine rank of your websiteimprove the search engine rank of your website Attachments give your future residents access to Attachments give your future residents access to

important documents before they walk in the important documents before they walk in the doordoor

TIPTIP Upload your attachments in PDF formatUpload your attachments in PDF format

Everyone can view on any type of computerEveryone can view on any type of computer Will always be viewed and printed as you expectWill always be viewed and printed as you expect

““But Jeremy,” you may be asking yourself, “don’t But Jeremy,” you may be asking yourself, “don’t you need expensive software to create PDF you need expensive software to create PDF documents?”documents?”

No! Visit No! Visit www.primopdf.comwww.primopdf.com for a free converter! for a free converter! OR: Send your documents as an attachment to OR: Send your documents as an attachment to

pdf@koolwire.compdf@koolwire.com. It’s like magic!. It’s like magic! Any file that you can print, you can convert to PDFAny file that you can print, you can convert to PDF

When Are Renters When Are Renters Looking?Looking?

Web Leads by Day of WeekApril 2007- March 2008

1431

22471986 2073 1973

1645

1212

0

500

1000

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2000

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Day

Lea

ds

EXLCUSIV

E

When Are Renters When Are Renters Looking?Looking?

Web Leads by Time of DayApril 2007- March 2008

0100200300400500600700800900

1000

Time

Lea

ds

9am-5pm Business Hours

EXLCUSIV

E

When Are Renters Looking? When Are Renters Looking? Moral.Moral.

OnlyOnly 40.9% 40.9% of MHL web leads came of MHL web leads came in during 9-5, M-F business hoursin during 9-5, M-F business hours

Many renters may not bother calling Many renters may not bother calling after hoursafter hours

Make sure your e-mail works!Make sure your e-mail works! Reply as promptly as possible!Reply as promptly as possible!

Many More!

But wait, there’s more!But wait, there’s more!

How How to Get to Get ListedListed??

•Visit www.rentlinx.com

•Click “List your Properties”

craigslist.orgcraigslist.org**

Free classified siteFree classified site Posts sorted by datePosts sorted by date City specific sub-sitesCity specific sub-sites

Pros:

•Free!

•High traffic in Detroit and Ann Arbor

•Some swear by it

Cons:

•Can attract spam or fraud

•Necessary to repost often

Your Website!Your Website! Best Marketing?Best Marketing? Renters trust as the most accurate Renters trust as the most accurate

sourcesource Can be very inexpensiveCan be very inexpensive A little can go a long wayA little can go a long way Cheap domain names: Cheap domain names:

GoDaddy.comGoDaddy.com**

Market Your Website!Market Your Website!

SignsSigns Business CardsBusiness Cards E-mail SignaturesE-mail Signatures BrochuresBrochures Print and Internet AdsPrint and Internet Ads Voicemail Voicemail Links from Partner websites! Links from Partner websites! ** Add a link to your RentLinx listing!Add a link to your RentLinx listing!

Your Website!

Your Listings on Your Your Listings on Your Site!Site!

Visit www.rentlinx.com and click on “WebLinx” for more details

Why not market on the Why not market on the Internet?Internet?

Survey responses to Survey responses to “Don’t advertise online? Why?”“Don’t advertise online? Why?” Lack of Budget - 25%Lack of Budget - 25% Confusion. Don’t know how or where to begin - Confusion. Don’t know how or where to begin -

20%20% The internet is not relevant to our business - 18%The internet is not relevant to our business - 18% Lack of time or personnel to do it - 15%Lack of time or personnel to do it - 15% Have all the business we need - 12%Have all the business we need - 12% Skeptical that it is effective - 10%Skeptical that it is effective - 10%

No more excuses! No more excuses!

*ClickZ.com and Opus Research Study, 2007

Questions?Questions?