The theme of next week’s MFE Multifamily Executive Conference is “Operational Excellence,” so it seemed particularly timely to discuss how marketing and operations folks can collaborate effectively.
To learn how these two teams typically communicate, what questions ops asks most and more, check out the highlights from our latest #AptChat. (Click on the links to jump straight to a specific question.)
- Q1: How does your marketing team collaborate with your operations folks in your company? What does that communication look like?
- Q2: How do you gather/share information about resident wants and consumer trends that impact your properties? Who leads that?
- Q3: What kind of questions do you get from Ops? What are they expecting from Marketing? What can we be doing to best serve them?
- Q4: Let’s talk new developments: How early should marketing be involved? What kind of input should mktg provide for a new build?
- Q5: What are the most important metrics/terms we need to know as marketers to effectively communicate with Ops?
How does your marketing team collaborate with your operations folks in your company? What does that communication look like?
@AptChat I imagine (and hope) that a lot of collaboration is going on right now during #budget season #aptchat
— Kristi Fickert (@Marketing_Mommy) September 13, 2016
@Marketing_Mommy as long as there is an agreed upon goal they can collaborate. Otherwise.. it can sometimes be a power struggle #aptchat
— Heather Blume (@artchickhb) September 13, 2016
@artchickhb Ops controls the budget & mktg is responsible for performance yet doesn’t always have authority to spend $ (sometimes) #aptchat
— Kristi Fickert (@Marketing_Mommy) September 13, 2016
@AptChat Or is mktg bringing the new ideas, working to create value and ROI and trying to convince ops to implement the ideas? #aptchat
— Kristi Fickert (@Marketing_Mommy) September 13, 2016
@Marketing_Mommy @AptChat there’s a great book called Buy In that mktg teams could find useful in convincing ops to try new stuff #aptchat
— Heather Blume (@artchickhb) September 13, 2016
@artchickhb @AptChat The more you can show value, return & that the numbers “work”, more likely to get ops to buy in. #aptchat
— Kristi Fickert (@Marketing_Mommy) September 13, 2016
A1: Decision making is a team effort, which is greatly appreciated. “What’s up, coming, AND fiscally responsible?” #aptchat
— Khara (@leftnwrite08) September 13, 2016
Nice– an environment where there are no bad ideas #aptchat https://t.co/iZ4we1AqX6
— Jonathan Saar (@JonathanSaar) September 13, 2016
@AptChat Any time a good idea comes up! Once a team has the idea, the powwow begins on the what/when/how/how much. #aptchat
— Khara (@leftnwrite08) September 13, 2016
(Cont): @Marketing_Mommy hits it right on the head … The checks/balances are there, and it leads to more actionable results. #aptchat
— Khara (@leftnwrite08) September 13, 2016
A1: I think in a perfect world this happens all the time, but often marketing in the last to know when a change is coming #aptchat
— KAMo (@kimbean_) September 13, 2016
@AptChat Often ops sees something as CapEx, and not a marketable amenity. More like a lack of understanding? #aptchat
— KAMo (@kimbean_) September 13, 2016
@AptChat your ILS partners have data on highest searched for amenities. Could help build a wish list by property. #aptchat
— Stephanie Oehler (@StephanieOehler) September 13, 2016
How do you gather/share information about resident wants and consumer trends that impact your properties? Who leads that?
@AptChat joint effort between ops, marketing, and training. All channels: face to face, social, and survey responses. #aptchat
— KAMo (@kimbean_) September 13, 2016
A2: We try to take responsibility for our mkt ideas. If we’re proposing it for the budget, we’re sharing the what, why, and how. #aptchat
— Khara (@leftnwrite08) September 13, 2016
(cont) We survey, research, and present our wishlist w/ estimates, research/rationale, and alternatives. #aptchat
— Khara (@leftnwrite08) September 13, 2016
@AptChat resident feedback surveys is the first place to start – right @SatisFactsLia ? #aptchat
— Heather Blume (@artchickhb) September 13, 2016
@AptChat A want is a want for a while. A need is more permanent. The question is, what do residents NEED? #aptchat
— Khara (@leftnwrite08) September 13, 2016
@AptChat this is why in the architecture firm (my other world!) we recommend flex spaces. Ex. Movie rooms become package lockers. #aptchat
— Stephanie Oehler (@StephanieOehler) September 13, 2016
@AptChat A2: I think being flexible is key. Don’t go all in to the new hotness, start gradually, and ramp up if interest is there #aptchat
— KAMo (@kimbean_) September 13, 2016
@kimbean_ @AptChat “Don’t Go All In To The New Hotness” LOVE this. Needs to be a #marketingmantra #aptchat
— Heather Blume (@artchickhb) September 13, 2016
@artchickhb @kimbean_ @AptChat No, but I’d like to see more experimentation – sometimes we’re afraid to try ANYTHING #AptChat
— Kristi Fickert (@Marketing_Mommy) September 13, 2016
@Marketing_Mommy @artchickhb @AptChat Idea killer: we’ve never done that before. #aptchat
— KAMo (@kimbean_) September 13, 2016
What kind of questions do you get from Ops? What are they expecting from Marketing? What can we be doing to best serve them?
A3: I think ops sometimes expects ALL IN, and not targeted efforts. Tempering expectations and being clear on deliverables is key #aptchat
— KAMo (@kimbean_) September 13, 2016
A3: WHAT will it cost? WHY is it necessary? HOW will it advance goals? We try to predict the big Qs and answer b/f they’re asked. #aptchat
— Khara (@leftnwrite08) September 13, 2016
@leftnwrite08 Pitching to the ops team is no different than any other sales pitch. You’ve got to solve a problem/pain point #AptChat
— Kristi Fickert (@Marketing_Mommy) September 13, 2016
@AptChat and is the marketing message portrayed as the same from every level so you have a unified voice from Corp to LC? #aptchat
— Heather Blume (@artchickhb) September 13, 2016
Let’s talk new developments: How early should marketing be involved? What kind of input should mktg provide for a new build?
@AptChat marketing should be in the discussions from conception on. no question IMO. #aptchat
— Heather Blume (@artchickhb) September 13, 2016
@artchickhb @AptChat Agreed! Mktg has the greater pulse on demographic data, and positioning before dirt is pushed. #aptchat
— KAMo (@kimbean_) September 13, 2016
@AptChat mktg analysis should be included & considered in site planning. #aptchat
— Stephanie Oehler (@StephanieOehler) September 13, 2016
What are the most important metrics/terms we need to know as marketers to effectively communicate with Ops?
@AptChat source attribution, spend/lease, and show value in “building the brand”. Not all $ spent ends in a lease, but still helps #aptchat
— KAMo (@kimbean_) September 13, 2016
— Stephanie Oehler (@StephanieOehler) September 13, 2016
@AptChat Cap Rate is ratio of NOI/ original cost or market value. Cap rate used for valuation in loan mods/ property sales. #aptchat cont…
— Stephanie Oehler (@StephanieOehler) September 13, 2016
@AptChat Mktg considers ROI as it impacts NOI. There’s the connection. #aptchat
— Stephanie Oehler (@StephanieOehler) September 13, 2016
@AptChat Absolutely! Especially depending on the cap rate! Stabilizing a community starts with marketing. #aptchat
— KAMo (@kimbean_) September 13, 2016
Our next #AptChat is slated for Tuesday, September 20, 2016 at 12 pm Eastern, and we’ll be discussing outreach marketing for apartments in a digital world. In the meantime, be sure to sign up for #AptChat updates to get these recaps and more delivered straight to your inbox!