AIM 2011 Startup Competition - All Presenters

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  Presentations from contestants in the Apartment Internet Marketing Conference's 2011 startup competition. Rentmineonline.com took home the victor's trophy.
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  • 1. AIM 2011 Startup Competition<br />
  • 2. Goals of Competition<br />Uncover the best new tools<br />Understand how they work<br />Encourage industry investment in resident-facing technology<br />
  • 3. Startups Giving Back<br />Each startup donated $2,000 to the non-profit Housing Industry Foundation of NorCal<br />HIF provides emergency housing assistance to keep residents in their homes – or gets them into homes. HIFINFO.ORG<br />
  • 4. Text Voting Services Courtesy of <br />
  • 5. Mixed Voting Format<br />Audience text voting 60% weight<br />One vote per cell phone<br />Voting from 4-7PM Monday only<br />Judges combined – 40% weight<br />
  • 6. Distinguished Judges<br />Chris Brown<br />Vice President of Product Development, Apartments.com<br />John SteuartGeneral Partner, Claremont Creek Ventures<br />Dirk WakehamPresident, RealPage<br />
  • 7. Order of Presentation<br />RentPing.com – David Watson<br />ApartmentGrade.com– Lucas Haldeman<br />ResidentGifts– Gerry Wiatrowski<br />RentMineOnline.com– Ed Spiegel<br />EBT Systems, Inc. – Jeff Smedley<br />
  • 8.
  • 9. Our Multifamily Equation<br />Web Traffic × Web Engagement = <br />Cost Effective Leads<br />Web Traffic<br />Web Distribution<br />Community Websites<br />Corporate Websites<br />Search Engine Optimization<br />Web Engagement<br />Video<br />Photography<br />Ease of Use<br />Metrics to Evaluate Consumer Interest<br />
  • 10. Sample HD Walkthrough Video<br />
  • 11. The Benefits of Professional HD Walkthrough Video<br />
  • 12. Before and After Photo Editing<br />
  • 13. The Rentping Search Widget & Community Sites<br />
  • 14. The Power of Our Equation<br />
  • 15. Featuring only those apartments that make the grade™<br />
  • 16. ApartmentGrade.com - Introduction<br />Presenter: Lucas Haldeman, Founder<br />Background: Apartment Owner and Former Homestore.com Executive<br />18th Employee of AllApartments, run by Mike Mueller and John Helm<br />Company Location: Coralville, Iowa<br /># of Employees: 4<br />Years in Business: 14 Months<br />
  • 17.
  • 18. BUT NOT FOR AN APARTMENT COMMUNITY WHERE A RESIDENT CAN EASILY SPEND 50% OF THEIR YEARLY INCOME!<br />
  • 19. ApartmentGrade.com<br />First web site dedicated to providing prospective renters with credible, objective, and accurate ratings of an apartment community based solely on the apartment community's current resident’s feedback.<br /><ul><li>We are taking on the anonymous gripe sites that currently dominate the apartment ratings space giving:</li></ul>Renters a USEFUL site to help them find a great place to live<br />Owner’s a tool to fight back against anonymous slander<br />
  • 20. Economic Decisions<br />For the renter, choosing an apartment is the MOST IMPORTANT economic decision they will make EVERY year.<br />1 in 4 renters spends more than 50% of their total income on housing according to a recent study just released by the Joint Center of Housing Studies at Harvard University. http://bit.ly/gkcYMJ<br />
  • 21. The Renter’s Paradox<br />“Who Should I Believe?”<br />Proprietary and Confidential<br />Owner/Marketer<br />Upset Resident<br /> In The Heart of Buckhead<br /> Surrounded by 30 acres of elegantly landscaped rolling terrain, The Paces Apartment Homes defines living well in the heart of Buckhead. Discover gardens of oaks, azaleas, dogwoods and laurels as well as the world class amenities that only a community the calibre of The Paces can provide. Adjacent to the Atlanta History Center and the Swan House & Gardens, you will enjoy the convenience of having the finest restaurants, shopping and entertainment Atlanta has to offer, minutes from your front door. The Paces generously provides its residents with welcomed services usually only found in private homes and more. Private, elegant, spacious and complimenting the best in Buckhead. Welcome to The Paces.<br /> Training ground for slumlords <br /> From: -Anonymous-<br /> O.K. now, I hope someone who gives a s--- will read this and do something. These apartment people in the office are so rude and swful that they are scary. If I was their boss they would not be working here or anywhere. They are like the apartment mafia, and people are afraid to say what is going on for fear of retribution. The women are low class, the head woman is a pit bull in disguise and does not have any manners. when i moved in it was really different and good but now it is terrible and I cannot move because of my job. I just want it to get better and for those woemn to be put in a dog fighting ring where they can really have fun. Michaaaellllll V ick miss out on these dogs. <br />Actual reviews from ApartmentFinder.com and ApartmentRatings.com of a community in Atlanta, GA<br />
  • 22. THE ANSWER:<br />
  • 23. How Does it Work?<br />
  • 24. Step 1: We Survey Your Residents<br />We email your current residents a short (seven question) survey<br />If you are currently a Satisfacts or CEL & Associates customer, there is no need to do an additional survey<br />Based on the survey results, ApartmentGrade will assign an overall rating (1 to 5 stars) to each property<br />Any property scoring 3.5 stars or better, will be included an ApartmentGrade<br />
  • 25. Step 2: Receive Leads<br />An ApartmentGrade user “clicks” on a listing then are taken to:<br /><ul><li>An ILS. ApartmentGrade is paid a cost per click transfer fee from a partner ILS
  • 26. The community website. ApartmentGrade is paid an annual fee</li></ul>Participating ILS<br />Property Web Site<br />
  • 27. Key Partner Relationships<br />If you work with these companies, you can participate without doing another survey<br />
  • 28. Some Participating Owners<br />
  • 29. Properties and Traffic<br />307 of the top apartments currently online<br />Traffic and property growth accelerating<br />
  • 30. Where are we going?<br />At least 5 rated in properties in all 366 major metro areas or 1,830 rated communities bye the end of next year<br />We will do this by:<br />Expanding into paid search and business development<br />Adding high level sales staff<br />Continuing to enhance consumer search by adding new products and tools<br />
  • 31. Incentivizing Residents….Without Free Rent<br />Presented By:<br />
  • 32. Free Rent Fails to Deliver<br />Incentives like free rent and gift merchandise are financial losses to the community<br />Residents quickly forget<br />Lacks resident loyalty<br />Does not enhance resident experience<br />
  • 33. The End of Free Rent<br />ResidentGifts utilizes a points-based rewards platform to incentivize positive resident behaviors<br />Only platform providing savings to a community while increasing perceived value to residents<br />Enhances the resident experience throughout lease term<br />
  • 34. This is How We Do It <br />Management customizes the incentive platform including budget, reward values and behavior categories<br />Managers administer entire platform from this single page<br />All platform functions available on dashboard<br />
  • 35. Encourage Positive Behavior<br />Award points for desired resident activities:<br />Creates a positive living experience limited only by the imagination of community management<br /><ul><li> Move-ins - Lease Renewal
  • 36. Referrals - Timely or Early Rent Payment
  • 37. Conflict Resolution - Social Media Activity</li></li></ul><li>Give Them What They Want<br />Residents redeem accumulated points for promotional codes good at national retailers for things they want and need. <br />Every resident gets their own homepage to manage/redeem points<br />
  • 38. It’s All About Relationships<br /><ul><li>Our partnerships with leading retailers provide residents access to products specific to the “Renter Lifestyle”
  • 39. Current retail partnerships, offering hundreds of brand names, include:
  • 40. 1-800 Flowers - Overstock.com
  • 41. Lands End - Sports Authority
  • 42. Cabella’s - Sears
  • 43. K-Mart - Bath & Body Works
  • 44. Omaha Steaks - Restaurant.com
  • 45. Fandango</li></li></ul><li>Some Brands Available from ResidentGifts<br />
  • 46. Seriously, It’s That Easy <br /><ul><li>On-site training takes no more than 3 hours and the platform can go live in a matter of days
  • 47. Interfaces with all major PMS systems
  • 48. We provide a quarterly reconciliation with applicable rebates</li></li></ul><li>Show Me the Savings<br />ResidentGifts provides upfront savings to the community through discounted bulk purchasing of promotional codes from national retailers<br />Discounts range from 5%-70% & we split the savings 50/50 with management<br />Industry statistics show 1/3 of all loyalty points are never redeemed by consumers (breakage)<br />We split the breakage rebate 50/50 with management<br />
  • 49. Communities Reaping the Benefits<br /><ul><li>3 companies are currently piloting the platform at 10 communities, representing 1,864 total units
  • 50. Experiencing an average of 9.25% savings on the incentive spend
  • 51. If the 3 piloting companies roll out the platform portfolio wide, the annual projected savings opportunity exceeds $3.5 million </li></li></ul><li>Even More Benefits<br />Engaged Residents<br />Market/Competitive Advantage<br />Comprehensive Marketing Communications<br />Employee Relations<br />
  • 52. Remember: No More Free Rent<br />ResidentGifts is the only points-based rewards platform<br />Delivering community savings<br />Enhancing the resident experience<br />Engaged, satisfied residents<br />Redeem points, renew and refer – ultimately improving your bottom line<br />
  • 53. Questions<br />
  • 54.
  • 55. Problem: Optimizing Asset Value<br /><ul><li>Difficulty reaching qualified, targeted prospects
  • 56. Inconsistent Lengths of Stay
  • 57. Inefficient Referral Marketing</li></li></ul><li>Solution: Personalized Social Referral Marketing <br /><ul><li> Targeted and Trackable
  • 58. Easy to Use and Cost-Effective
  • 59. Community Building</li></li></ul><li>How We Power Social Referrals1. Resident receives an email on behalf of Property<br />
  • 60. 2. Residents Sign In<br />
  • 61. 3. Residents Post Referrals<br />
  • 62. 4. Friends Click and are Directed to Personalized Property Page<br />
  • 63. Modern Day Testimonials: Referral Widget<br />
  • 64. Social Tracking: Resident Distribution<br />
  • 65. Social Tracking: “Friend” (aka prospect) Engagement<br />
  • 66. Social Tracking: Friend Based Analytics<br />Preliminary Length of Stay Data<br />Average Length of Stay<br />(Months)<br /># Facebook Friends at the Property<br />
  • 67. Sample Clients: 70+ Management Companies<br />
  • 68. Testimonials and ROI<br />“We were able to connect many of our resident referrals directly to the program.” <br />Melissa RobbinsMarketing AssociateGreystar<br />“Our experience with RentMineOnline has been one that grows over time.”<br />Mark Juleen<br />VP Marketing<br />JC Hart<br />“Our referral rate nearly tripled for participating residents and our investment paid itself back 3 times over.”<br />Peggy Hale<br />Vice President of Sales,<br />Marketing & Training<br />Morgan Properties <br />
  • 69. The RentMineOnline Team<br />Account Managers / <br />Developers / Designers<br />Jacqueline<br />Julie<br />Matt<br />Chris<br />Max<br />Oscar<br />Industry Advisors<br />Lisa Trosien<br />Industry Professional<br />Extraordinaire<br />Investors<br />Facebook Fund<br />Seedcamp, Alex Hoye, PiE<br />Equity, Lindzon Capital<br />Ed Spiegel<br />Founder, CEO<br />Duke University (Civil Engineering), INSEAD (MBA)<br />Business Development (SoftCoin), Venture Capital Silicon Valley<br />4 years MultiFamily Experience Speaker at NAA, AIM, Brainstorming<br />Kevin Lochner<br />Technology Director<br />Duke University (Computer Science)<br />PHD University of Michigan (Computer Science)<br />Team<br /><ul><li>Ed Spiegel – Founder, CEO
  • 70. Duke University (Civil Engineering), INSEAD (MBA)
  • 71. Business Development (SoftCoin), Venture Capital Silicon Valley
  • 72. 4 years MultiFamily Experience Speaker at NAA, AIM, Brainstorming
  • 73. Kevin Lochner – Technology Director
  • 74. Duke University (Computer Science)
  • 75. PHD University of Michigan (Computer Science)</li></ul>Account Managers / Developers / Designers<br /> Jacqueline<br /> Julie<br /> Stanton<br /> Matt<br /> Chris<br /> Max<br />Industry Advisors<br /><ul><li>Lisa Trosien
  • 76. Industry Professional Extraordinaire</li></ul>Investors<br /><ul><li>Facebook Fund
  • 77. Seedcamp, Alex Hoye, PiE Equity, Lindzon Capital</li></li></ul><li>Why this is a business<br />Low Price Points, High Technology Investment<br />Your own in-house expert on Social Network Distribution <br />
  • 78. Growth Story<br />
  • 79. Thank You<br />Try our demo at www.RentMineOnline.com/Demo<br />
  • 80. Cost Per Lease<br />
  • 81. Calculating ROI<br />(Revenue – Investment ) / Investment = ROI<br />Revenue = Vacancy Aversion = 2 months rent<br />Assumed Average Rent = $1,000<br />Revenue per lease = 2 x $1,000 = $2,000<br />
  • 82. 5. Managers Track Results<br />Tracking: Campaign Level<br />
  • 83. ROI Matching<br />Management Company provides referral bonus list that is checked against RMO participation<br />RentMineOnline Participating Residents: Data Available 24/7 in Online account<br />
  • 84. EBT Systems<br />Presented by: Jeff Smedley<br />President/CoFounder<br />Bubo<br />
  • 85. Bubo-Works<br />Marketing and Sales Optimization<br />We identify, forecast and make projections as to which lead source is the most effective for your specific property<br />True analytics<br />Not easy, we did our research<br />Bubo<br />
  • 86. How is it done?<br />Bubo<br />Property/Regional data<br />Economic and Geo-demographic changes <br />Industry Factors & Trends<br />Software integration/ Legacy data<br />Bubo DB<br />Contract Data<br />Sales Performance<br />Call Tracking<br />Lead Quality<br />
  • 87. Customer benefits<br />Complete integration<br />True custom analytics<br />Custom dashboard reporting<br />Simple real time online reporting<br />By site, owner group, region or C level <br />One national marketing person can now effectively manage advertising<br />Buying power<br />Bubo<br />
  • 88. Why Bubo?<br />Timing is everything<br />Industry is changing<br />Complexity is our strength<br />Forward thinking<br />Bubo<br />
  • 89. Our Market<br />Multi Family<br />Property mgt companies<br />ILS<br />Effectiveness/validate<br />Are you charging enough?<br />Other industries<br />Bubo<br />
  • 90. Future<br />Currently working on strategic partnerships with key companies within the MFH industry<br />We project that we will end 2012 with revenue in excess of $1,000,000<br />Project of 400 sites<br />2 to 4 ILS customers<br />Doubling that number in 2013<br />Bubo<br />
  • 91. Why choose us<br />“…The ability to take data—to be able to understand it, to process it, to extract value from it, to visualize it, to communicate it—that’s going to be a hugely important skill in the next decades”. <br />Hal Varian, Google’s Chief Economist<br />By looking into the future rather than operating in the past, EBT will change the way decisions are made for innovative companies readying for a Brave New World in the MultiFamily industry<br />Bubo<br />
  • 92. Evaluation Criteria<br />Is this a valuable tool<br />Did You understand how they work<br />Worthy of Investment<br />
  • 93. Text Your Vote (Once)<br /><ul><li>Text choice of keyword to 47368 (4RENT)
  • 94. AptGrade (for ApartmentGrade.com)
  • 95. EBT (for EBT Systems)
  • 96. RentMine (for RentMineOnline.com)
  • 97. RentPing (for RentPing)
  • 98. ResGifts (for ResidentGifts)</li></ul>Voting closes at 7PM today! <br />Winner announced Tuesday at 12PM<br />One vote per cellphone<br />
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