Getting the Most Out of Craigslist

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Steve Small's presentation at the Apartment Internet Marketing Conference 2009.

Transcript of Getting the Most Out of Craigslist

AIM 2009

GETTING THE MOST OUT OF CRAIGSLISTSteve Small, CEOYield Technologies, Inc.

April 30, 2009AMLI Residential (www.amli.com)CIO from 2000 through 2007Owns luxury apartment communities throughout the USWholly owned by Morgan Stanley Prime Property FundYield Technologies, Inc. (www.yieldco.com)Global management consulting and technology services company.Focuses on various revenue management and marketing solutions.Licenses certain AMLI technology

Steve SmallPRESENTER BACKGROUNDCraigslist OverviewLocal classifieds and forums for 450 cities worldwide - community moderated, and largely free. Jobs, housing, goods, services, romance, local activities, advice - just about anything really. 9 billion page views per month#7 in terms of English-language page views.More than 30 million people each month use craigslist, including more than 25 million in the US alone eBay acquired 25% of the equity in craigslist from a former shareholder in August of 2004

Ad Listing ChallengesOur teams were spending a considerable amount of time just loading ads to the site.It was a challenge to maintain fresh content and quality ads.Little visibility (quantitative nor qualitative) into the success of our postings.Lack of integration between craigslist and our enterprise software solutions (Yardi, RealPage, MRI, etc.).

Global PerspectivePeople and process first; Technology second.Install business transparency.Feedback business results and metrics in real-time.Make it easy to for customers to do business with you.Invest in your Internet presence.Take a disciplined statistical approach to how you allocate effort and cost.KEY ASPECTSFrom a Global perspective it is about Transforming the EnterpriseIs it Actionable?Is it understandable to the organization?Can everyone participate?

Yield Optimization is about actionable ways to improve marketing, product mix, customers, and business processes.YIELD OPTIMIZATIONTransforming the enterprise is about focusing on what is actionable, understandable and gives everyone in the organization a seat at the table. Yield Optimization is about actionable ways to improve marketing, product mix, customers and business process. Craigslist InitiativeWhich ads are more effective in a particular market?Fancy or simple adsShort or descriptiveMore pictures or fewerCommunity focus vs. unit focus When is the best time to post?Which product types is the market most interested in?Measure - Deliver an in-depth analysis of ad listing statistics and metrics to prove the value of this marketing venue.

Goals business processSome of our staff were spending 50% of their overall time posting to craigslist some organizations in multi-family are using dedicated teams to post to craigslist.Simple integration apple model.

Which craigslist ad will sell the jeep?

Craigslist InitiativeDramatically reduce staff time required to post.Generate consistent and high-quality ads.Integrate with the property management applications. Provide content management.Make it easy robust help, training, and deployment.Comply with the letter and intent of craigslist Terms of Use.

Goals - MechanicsSome of our staff were spending 50% of their overall time posting to craigslist some organizations in multi-family are using dedicated teams to post to craigslist.Simple integration apple model.

Craigslist Ad ComponentsAn AMLI Apartment ad

Title TemplateUnit Types and Specific UnitsContact InformationApartment DescriptionsApartment Features/AmenitiesCommunity DescriptionsCommunity Features/AmenitiesAlternate Contact MethodCommunity PhotosUnit Photos

Craigslist Ad ComponentsAndys Condo

Title TemplateUnit Types and Specific UnitsContact InformationApartment DescriptionsApartment Features/AmenitiesCommunity DescriptionsCommunity Features/AmenitiesAlternate Contact MethodCommunity PhotosUnit Photos

RentSentinelRentSentinel is a content management and analytics system - the User posts and enters the captcha.

Post manually using cut and paste Traditional method used by Postlets, Vflyer, etc.Post using self-publishing email RentSentinel creates ads and manages the self-publishing email for the user Post using a craigslist accountRentSentinel logs the user into their craigslist account and creates ads no confirmation email necessary.

3 ways to post Some of our staff were spending 50% of their overall time posting to craigslist some organizations in multi-family are using dedicated teams to post to craigslist.Simple integration apple model.

Use the Content We Already HaveSynchronization with major Property Mgmt Systems

Dashboard for Managing All of Your Ads

Posting using the Ad Wizard

You can Edit Ads before Posting

Content Management System

Maintain all community, unit type, unit, amenity, availability and pricing in one locationIncludes the ability to have multiple descriptions, pictures, titles and features for each posting

Make it Simple and Easy

Video TutorialsAMLI 535MonthNew ProspectsPhone CallsVisitsPercentage of Total VisitsJanuary- No RentSentinel1651423.08%February-With RentSentinel3992747.62%First month resultsSame experience elsewareWhat Days are Best to Post?

Amli 535Look at Views and Leads in Real Time

What Days are Best to Post?Andys Condo

When are our Ads being Viewed?Andys Condo

When are our Ads being Viewed?AMLI 535

When should we Post?AMLI 535

When is the most effective time to post ads?When should we Post?Andys Condo

When is the most effective time to post ads?What Products are in Demand?

Where are our Customers coming from?

Distance Band Report

June 01 Release FeaturesCraigslist login account becomes primary posting method. Ad timing recomendations.Enhance ad content and building capabilities.Syndication of additional sites:FrontDoorGoogle BaseHotPadsOodleTruliaVast

June 01 Release FeaturesAmenity builder ad editor interface to online sources describing community area amenities.Dashboard to rank communitys success relative to the overall portfolio.Indexed ad content correlate success of posts to content.Which ads are more effective in a particular market?Fancy or simple adsShort or descriptiveMore pictures or fewerCommunity focus vs. unit focus

Which craigslist ad will sell the jeep?

www.RentSentinel.com

Value PropositionSave time create high quality craigslist ads with minimal effort.Simple deployment just login.Immediate payback - De minimis cost per lead.Create an adaptive marketing process rather than settling for a point-in-time goal.www.RentSentinel.com

GETTING THE MOST OUT OF CRAIGSLISTSteve Small, CEOYield Technologies, Inc.

April 30, 2009