Guerilla marketing 2011

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Transcript of Guerilla marketing 2011

Gorilla Marketing

Kirkpatrick Management Company. Inc.

Guerrilla MarketingRevolutionary Strategies & Tactics

Kirkpatrick Management Company. Inc.

Who Are We?

Julie Spear, COSCompliance & Training Specialist; Kirkpatrick Management Co., Inc.

Natalie Mabbitt, RCMRegional Property Manager; Kirkpatrick Management Co., Inc.

Kirkpatrick Management Company. Inc.

Sneak PreviewStep-By-Step Guerilla Strategies and Tactics to Developing a Marketing Plan Specific to Your CooperativeElements of the Marketing Plan Non-Traditional Marketing Ideas/ExamplesFair Housing Requirements

Kirkpatrick Management Company. Inc.

Websters DefinitionMarketing The process or method of promoting, selling and distributing information to consumers and potential customers.

Guerrilla MarketingMeans by which you can implement marketing ideas through low-cost, non-traditional , sometimes radical methods.

Kirkpatrick Management Company. Inc.

Marketingthe aim of marketing is to know and understand the customer so well, that the product or service sells itself ~ Peter DruckerConsidered to be the master (some even say inventor) of marketing for the 20th Century

Kirkpatrick Management Company. Inc.

The 5 Ps of MarketingProduct

Price

Promotion

Place

People

Kirkpatrick Management Company. Inc.

The ProductGuerilla StrategyPhysical Product - Size, Condition, Floorplans, Brand Identity- Pinpoint your One Thing? Features, Amenities, Quality, AtmomsphereYour Reputation: Good? Bad? or Indifferent?Logo Tie into Brand

Guerilla TacticObjectively identify all aspects - good and bad.Emphasize PositivesSchedule necessary repairs and upgrades and set a timeline to correct all negative features identified.Distinguish your best features and the image you wish to project.

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The PriceGuerilla StrategyWhat can Target Market afford to pay?Monthly Carrying ChargesMembership Fee & EquityUtilitiesWhat does your price include?Any Subsidy in place?Market Analysis

Guerilla TacticStudy Area Median Incomes & Any Income Limits.Analyze $/sq.ft for area rentals and home sales, which are competition.Is your equity payment an investment? Or does it compare to required deposits in your area?Calculate $ value of Utilities and Services included in your Housing Charges.

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The PromotionAdvertisingPublicitySalesPersonal SellingWord of MouthImage ManagementWebSocial Media

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The PlacePhysical Location includes all of the specific physical aspects of the propertyRelative Location emphasizes the location of the property in relationship to resident needs and desiresComparative Location how your property compares with other apartment communities with which you compete

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The PeopleOn-Site PersonnelContract WorkersMarketing Partners and VendorsBoard of DirectorsManagement Team

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Why a Marketing Plan?It requires you to produce a quantifiable analysis of the Cooperative, measuring strengths and weaknesses, develop a resident profile, and identify your market in a clear and objective way.It encourages effective use of resources and budgeting. Use as a tool to monitor and control marketing costs vs. results.A clear cut plan, implemented step by step, will produce the best results.

Kirkpatrick Management Company. Inc.

Because of Vacancy LossExample: 10 vacant units per month; carrying charges of $500 per month

This is $5,000 worth of lost income in 1 month

If all of these units remain vacant for an entire year your coop loses $60,000 annually

This is money that can NEVER be recovered.

Kirkpatrick Management Company. Inc.

Step-By-Step to Your Marketing PlanStep #1: Purpose of Marketing EffortsStep # 2: Analyze Current MarketingStep #3: Identify Target MarketStep #4: Identify Your CompetitionStep #5: Select Marketing ElementsStep #6: Create a BudgetStep #7: Create a TimelineStep #8: Monitor the ResultsStep #9: Re-evaluate the Plan

Kirkpatrick Management Company. Inc.

Step #1: PurposeWhat do you want to accomplish (goals)?

Reduce vacancy/Build Waitlist?Create a more diverse community?Increase your value and Member return on equity?Decrease costly turnoversImprove desirability of your Brand

Kirkpatrick Management Company. Inc.

Step #2: Analyze Current EffortsWhat are you doing now?What have you done in the past?What has worked the best?Have you measured efforts?Traffic Log DocumentAnalyze Statistics in Crime, Complaints, Turnover, Evictions

Kirkpatrick Management Company. Inc.

Step #3 Identify Target MarketWho do you want to reach with your Marketing efforts?How do you determine who your target market is?Do you need to diversify your demographic?

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Positioning for the Target MarketDoes what you offer provide a benefit to your target customers needs?Will the benefit be perceived as real and meaningful?Does it truly separate you from the competition?Is it unique or difficult to copy?

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Understanding & Tracking TrendsAverage Income / Median IncomeEmployment Growth/DeclineInterest RatesOverall Health of Real Estate MarketMilitary/Student PopulationsCrime Statistics

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Step #4: Identify your competitionIf a person is looking for housing in your area what other communities will they be looking at?What amenities do they offer?What is their cost per month?What does that monthly payment include?How are they marketing their community?Complete an annual market survey

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Step #5: Marketing ElementsElements of a Marketing Plan

Curb AppealResident RetentionSite StaffCommunity OutreachLogo/SignagePrint AdvertisingWeb

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Curb AppealWhat Meets The Eye

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Curb Appeal Guerrilla StrategiesLawn Maintenance/LandscapeTrash Pick-UpWindow CoveringsPatio ConditionsNight-Time AppearanceSignageCondition of BuildingsParking Lots/DrivesNeighborhood EnvironmentMember Involvement

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Curb Appeal Guerrilla TacticsGrounds CommitteeCommunity Clean-Up Day/Beautification DayPartner College/University Horticultural StudentsMember ContestsCommunity Vegetable GardensSeasonal Plantings/DecorationsGive-Aways: Flowers, Outdoor DecorAreas for Benches, Cook-Outs, PicnickingNew Porch Lights, Mailboxes, Address #s, Shutters

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Resident RetentionFeeling At Home

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Membership Retention Necessary for Cooperative Survival?Reduces Turn Over Costs.Makes the Property Desirable.Allows for Realistic Budgeting.Affects the Bottom Line.

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Member Retention Guerrilla StrategiesProvide your Members with Top-notch Customer ServiceCreate a schedule of tangible Incentives for Members to stay year after yearWhy throw precious Marketing resources at Prospects INSTEAD OF Existing Members?

Respond promptly to Member complaints and concerns.Organize events designed to include your Members in their community.Give reasons for Members to get involved and experience a sense of belonging.

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Member Retention Guerrilla TacticsCommunicationNewsletter/NoticesSocial MediaSurveyReward ProgramsReferral/Early BirdContestsAnnual Retention AwardCustomer ServiceMaintenance Dept.ManagementBoard of Directors

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Member Retention Guerrilla TacticsMore Resident Retention IDEAS

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Complaint ResolutionHelps Members to feel valued, validated and respected.Institute a policy requiring all complaints be submitted in writingRecord of Contact per HouseholdListen attentively, respond non-defensively.Require written follow-up on all complaints including those addressed in personConsider introducing a Moderator to settle disputes between Member households.

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Site StaffYour First Line of Marketing

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Staff Professionalism: Office StaffFirst ImpressionAttitudeCommunity PrideKnowledgeFriendly DemeanorConfidentialityContinuing EducationFollow-up

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Telephone TechniqueGoal of the Prospect CallTo Create Interest in Your CommunityBuild a Rapport With the ProspectConvert the Call to an On-Site Visit

Framework of the Prospect CallGreetingQualifyingPresentationClosing

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Guest CardCollect basic contact Information

Be sure to document how the potential Member heard about the Cooperative

Follow-Up with a phone call and/or thank you note

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The DemonstrationAgain, you only get 1 chance to make a first impression, soStand UpMake Eye Contact Shake HandsAct InterestedMake Them Feel Welcome Model ApartmentTour CommunityOvercome Objections

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Staff Professionalism: Maintenance StaffSkilled WorkmanshipPersonal AttitudeFriendly MannerClean AppearanceConfidentialityProperty PridePride in Co-WorkersFollow-up

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Community OutreachMake Friends

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Informal NetworkingWorkplaceChurchPTO SchoolsSocial Organizations i.e. Union MeetingsLocal BusinessesVendors

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Formal NetworkingCity CouncilChamber of CommercePlanning CommissionLocal Housing AuthorityPolice/Fire Department

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Logo/SignageVisual Marketing Queue

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Before & After

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Logo

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Print AdvertisingDo Judge a Book by Its Cover

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RepresentationStationaryLetterheadEnvelopesBusiness CardsBrochureFloor PlansNewspaper AdvertisingMagazines/GuidesFlyers

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Good Advertising Can..Describe services & feature benefits to new residentsAnnounce New or Upcoming ImprovementsInform Prospects of your Co-ops Community Involvement Get Involved!!Create awareness of your community with a new target audienceInform existing & potential residents about events or special promotions

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Guerrilla TacticsSeasonal Special AdsOpen House/Announcement AdsTie ads in with Current EventsTrade Advertising with Local BusinessesMake your own flyers

Do just enough to capture attention and bring them in. Then begin The Cooperative Difference education

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Fair Housing Marketing & AdvertisingUse the Equal Housing Opportunity logo and statement properlyDisplay a fair housing posterAvoid inappropriate words in advertisingMaintain a log of all changes in eligibility criteria, rates, or other leasing policies

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The WebBack to the Future

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Internet Users by AgeAge 18 to 34 37% of Total Users25-34 years = 23%18-24 years = 14%Age 35 to 54 49% of Total Users45-54 years = 17%35-44 years = 32%Age 55 to 65+ 14% of Total Users65+ years = 5%55-64 years = 9%

Kirkpatrick Management Company. Inc.

E-MarketingGetting the Lead From Your Website3-D Site PlansInteractive Site Plans With Area Businesses, Resources and AttractionsOnline Coupon / Specials3-D Floor PlansVirtual TourLink to site for Directions (Map Quest)Eligibility CriteriaOn-Line Application & E-mail Link to Sales OfficeLinks to Your Social Media Pages

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E-BrochureWhat Should It Include?

Phone Number, Address, E-Mail, FaxFloor PlanPhotos/Visual StimuliAmenitiesOffice HoursCall To ActionLinks to Additional e-marketingLink to office e-mail

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E-RetentionWork Order RequestsCommunity CalendarNewsletterRules & RegulationsManagement CommunicationMembership SalesElectronic Payment OptionsSuggestion Box

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Twitter LinkedInWordpressFlickrStumbleUponYouTube

Social Media Options, options, options

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Social Media - FacebookNumber of Facebook users worldwide, greater than entire population of U.S.Over 75% of all internet users have social media pages, with facebook being the most used.4 out of 5 online Americans use social technology.

Survey Says:4 out 93% of Facebook users believe a company should use social media85% of Facebook users believe that companies should also interact with their customers.

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Social Media - Facebook Very user friendly and Easily MaintainedIf youre not on facebook yet you are missing the boat...Wide variety of uses and applicationsFREE!!!Use to positively influence your BrandEngage Prospects and Members with marketing and retention tools.Monitor uncensored conversations about your community.Instant feedback.

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Social Media FacebookTips on setting up Your PageBe sure you create a Fan Page account. This type of account is specifically for business to promote their services, different from a private user page.If you select correctly, your Fans will Like you, NOT Friend you.

Name your account the exact formal name of the community, as closely as possible. Helps Fans find you, and clearly describes your business.Your page should be a reflection of your business philosophy.

Kirkpatrick Management Company. Inc.

Social Media FacebookTips on setting up Your PageNext, select a profile picture that best expresses your Cooperatives personality.Then select more photos to display. Photos of people are the best attention grabbers.Be sure your Brand is well reflected.Profile picture will appear as a thumbnail image throughout site, and next to all comments and posts.Try to make your page visually appealing, with interesting content.

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Social Media FacebookTips on setting up Your PageNext, select Add information to this page underneath the profile picture and fill in as much basic and detailed information as possible, to positively reflect your Co-op.Select links to any businesses and organizations you are associated with.

Optimize performance by adjusting various controls in Edit Page.Finally, Select Publish and go public with your page!!You are now on Facebook.

LIKE!!!

Kirkpatrick Management Company. Inc.

Social Media - Guerilla StrategyImplement a written Social Media Policy for Staff. Designate 1 2 people as Coordinators to insure content is kept appropriate, on-topic and relevant to your Marketing goals. Encourage staff to participate according to policy guidelines, so Members enjoy engaging with themUse Facebook to engage, inform, entertain, notify. Keep the posts short, lighthearted and include photos. Ask questions that encourage responses.Update consistently. Give Fans a reason to visit.Use Marketplace Tab to post Advertising.

Kirkpatrick Management Company. Inc.

Social Media Guerilla TacticsGames: Bingo, Trivial Pursuit, Scrabble open to Members OR Prospects.Question of the Day. Dont use yes/no Questions, goal is to open a dialog with Members/Prospects. Picture of the Week. Recipe Contest. On this day in History Member Profiles.Birthday/Anniversary.Monthly Decorating Tip Include photos, specific to your floorplans. Give away an item used in the tip.Get staff involved. Ask them to create a work page in their name, separate from any personal pages they may have, and interact on your Co-op page.

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Step # 6 & # 7: Budget & TimelineHow much do you have to spend on your marketing efforts?When will you begin your marketing?

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Step #8: Monitor the ResultsSite office needs to ask every person that calls or comes into the office how they heard about the cooperative

Track the results on a continual traffic log

Kirkpatrick Management Company. Inc.

Step #9: Re-evaluateUse your traffic log to find what is working best and leastBe Flexible if an element isnt working dont keep using it change to a different elementKeep a record of what youve tried in the pastThis will ensure that your marketing dollars are spent in the most useful way

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Keys to a Successful PlanMake a commitment to the plan

Patience is critical It may take 3 to 6 months to get the response you need and even more time to see the results

Consistency is critical Dont change your message or stop marketing for long periods of time

Kirkpatrick Management Company. Inc.

HUD RequirementHUD-form 935.2A Affirmative Fair Housing Marketing PlanShould be kept in site officeMust be updated every 5 yearsMake sure you incorporate what you have told HUD you would do into your plan

Kirkpatrick Management Company. Inc.

Additional Suggestions:Evaluate Application Approval ProcessEvaluate Membership Selection PlanAppearance of the Office

*Cadence to begin here

Left, Left, your left, right, left Left, left, your left, right leftCo-op ooh ahCo-op ooh ahI dont know but Ive been told , A marketing plan is as good as gold, staff training and curb appeal, too, media, web, and retention to name a fewCo-op living is the way to go, beat the gorilla and everyone will know, sound off 1,2, sound off 3,4, sound it out 1,2,3,4, 1,23,4!*Need to add the name of the Cooperative Here**Guerilla marketing ideas can be as far-reaching and all-inclusive as you want it to be. It doesnt have to be wild or inconsistent with your business. It just has to be different! Many people confuse marketing with advertising or selling. While advertising is part OF Marketing, there is much more to it that just that. Marketing can actually be thought of as the activity of satisfying wants and needs through an exchange of goods and services for compensation. The ultimate goal of Marketing actually makes the selling non-essential.You are going to develop an understanding of the wants, needs and demands of the consumer and positioning your product to meet those.Becoming an integral part of your Members lives is key to becoming indispensable. The idea is that they want/desire/ and NEED to live in your community and would never dream of leaving.*These are the basic ideas you will keep at the forefront of your thoughts as you analyze exactly what you are Marketing. Which is YOUR COOPERATIVE, obviously But how to convince prospects that YOUR Community is THE community they want.So, while you are in the brainstorming phase of your marketing objectives, you will analyze these areas. And determine WHAT you are marketing or how to create the atmosphere, personality, reputations etc, for your community that will appeal to your market.What exactly does your cooperative has to offer? and how do you reach the people who need to know this valuable information?The 5 Ps are going to get you there!!!!*The first P In this case your product is your co-op, but more importantly. HOME! The most basic of the basic needs, but also probably the most emotional of purchases as well.. Emotional purchases, how does it make you feel.On one hand, everyone has to have itbut on the other It is a Very personal Choice, and most are VERY selective when they shop for it. Need to be sensitive to the fact this IS what your customers are shopping for, it is a very personal, very crucial decision and should be respected for that.But you can also build on that, use this as a tool for personalizing your marketingThis is where you will build your Brand Identity = Developing your Co-op PERSONALITY. Or IMAGE. Your ONE THING..

*The price can be a tricky component, depending on your situation. Does your community have HUD programs in place? Is it a Market Rate Cooperative? If your place is super-affordable, that can be a selling feature. If your monthly Carrying Charges seem a bit higher than competitive rentals in the area, be sure to analyze what is includedfor them. Probably, you are providing WAY more bang for the buck, considering utilities, services, included appliances & amenities etc. *As we spoke about, advertising is just one small part of the whole Marketing picture.Marketing is more about creating an image or personality for your Co-Op. The Promotion is the How To of getting the work out. Once you explore and analyze all of the facets of your Co-Op how will you Promote or Get the word out? With the end goal being that once someone hears the name of your co-op, it is instantly synonymous with that image. Many ways to do that, and we are going to explore them in this session, then you will decide which methods best suit your Co-op.John Wanamaker said, I know 50% of my advertising is wasted.I just dont know which 50%. Traditional advertising generally only works by chance. The truth is, all advertising is a guess. What worked last year may not work today. The key is to constantly run small tests, and measure the results. If you cant measure the results, you cant know what works. *Physical= What is great about your physical location? What access do Members have right AT your location? Services?Relative = Are you in a super desirable area? Up and Coming? Trendy? Within walking distance to great features? Is there a tie in to marketing there? OR- If your area is less than desirable, how will you counteract or divert attention from that? Comparitive = is your market area congested with competition or are you the only thing in the area? Are you taking full advantage of everything your area has to offer?

*YOUR NUMBER 1 ASSET!!!Your site personnel they are your front line marketing asset, and they MUST be on board with all marketing efforts. They MUST believe in your product and be promoting it at all times. Make sure contract workers understand your quality and service standards. And that they are treated with respect and have a GREAT experience working on your site, so they spread the word. BOD, are they on board? What role will they play?*Reduce your plan to writing. The moment you complete this, you will have definitely given concrete form to the intangible desire. Napoleon Hill (1883-1970) American speaker and motivational writer.Plan can be super formal and in depth, with a professional market analysis, etc., or just notes from more informal meetings, and do-it-yourself market analysis, and brainstorming sessions for implementing your goals.BUT - ALL projects MUST have a plan in order to succeed. Tools for measuring your success, in order to know where to put your efforts, you must analyze where you are, and know where you want to go.Budget, timeline, etc. are an important part of the plan, and a written plan helps guide those, and keep you on track.Ensures a smooth transition if you have a change of staff or board member..

*One very big reason.Budget is based on your GROSS Potential. Any Vacancy Loss affects that bottom line. It can throw your budget completely out of whack.Housing is somewhat limited in its ability to recoup these sorts of losses. So marketing is especially important.Were not like gas stations or hotels, who can raise their prices during periods of peak demand, to make up for any losses taken when there was lower demand. NOR, can you can you sell more units than you have, and cant really just keep raising the Carrying Charges, or you will price yourself out of the market..

**Lets explore all of these steps in depth, so by the end of this session you will have a clear idea of how best to market YOUR CO-OP!!!!

We talked about some of these but be VERY specific with your goals, so that you can measure your results.There can be just one goal, or many.We talked about Vacancy Loss and the hit to the bottom line. This is often the #1 reason for a Marketing PlanWe also talked about diversifying this can be a compelling reason for Marketing to a New demographic but maybe its just that you feel you need more Good Members resident conflicts, increase in evictions, etc.Perhaps your image has taken a beating lately, and you are just looking to improve your desirability which in turn will improve resident retention, decrease turnover, and bring you a fresh new crop of prospects. WIN-WIN!!!!

**Prior to implementing your Plan identify how you will quantify your results... according to each goal identified previouslyIf necessary create certain specific reports/forms/documents to measure results.

Fair Housing comes 1st , but then decide what makes a Good Member. Obviously cant steer or discriminate but, perhaps you have a large student population (can be somewhat transient in nature) or maybe your member population has become mostly elderly and you are foreseeing a huge upcoming turnover in Membership indicating a need to diversify. While you cant discriminate in Member Selection you CAN market to certain segments of the population thereby increasing traffic from those demographics.*This is about modifying or emphasizing overall feel of your community, by tweaking certain features, to meet needs of your target audienceALL can promote Benefits of Co-op living, for instance, (Property/Real Estate Tax Incentives, more than just housing- its a Membership, No Owner taking profits, ability to institute change through BOD, Sell your Membership, Equity Increase according to by-laws- for some)But what else? What does your target market WANT? And how are you going to provide that.?

*Analysis of these trends can help direct your marketing efforts, and understanding your target customer - as well as changes in the wants and needs of prospects.For instance, perhaps you used to market to a employees of a large factory but now they are laying off.OR, is an upswing in home buying affecting your traffic, OR is there a large military population that are going to be coming home and looking for housing? More people going back to school and you have a university close by? Be aware of changes in these trends and market accordingly.**Identify your competition, then get to know them inside and out.How does your community compare to others in the area? If your competition is home buying, why are prospects buying instead of purchasing membership n your co-op? What can you do to counteract this? Upgrade features? Provide more services? Are they aware of ALL they get at your co-op? How about a Why own, when you can Co-op??? campaign Perform a market analysis either formal or informal. Even go so far as to shop your competition, see what they are doing and go a few steps further or steal their ideas, lol!!!!Lets look at the different elements of your plan and we will demonstrate some ideas on how to implement these elements in fresh new ways.**Definition of Curb Appeal The overall appearance of the entire property this is the customers First ImpressionTake a look at your community as though through the eyes of someone seeing it for the first time. What can be improved? If you are stuck with some things, how can they be spruced up for now? Can you partner with local businesses? Everything should be sparkling clean at all times. Especially - the path from street to office, and office to any model unit. Maint should pick up this area each morning first thing, no cig butts, pet waste, parking lot free of oil stains, curbs clean and painted. Any landscaping trimmed and watered. Snow & ice meticulously maintained..**Powerwash siding or fencing. Get member Volunteers to help scrub or spruce up areas, (even small paint projects) in exchange for a pizza party or ice cream social. Social event, plus work gets done double advantage!!!!Budget larger improvements over next couple years, to spread out the cost. Increased retention/Membership can help cover costs.The costs of turn-over are probably 200% more than just the days of lost carrying charges between Members. Reconditioning, additional advertising to get new Members, time, screening prospects, New member Orienetation, etc..PLUS.The bottom line is member satisfaction is your best most effective advertising.Members will tell everyone they know that they live in the best place on earth.**Basic Definition Keeping Current Residents Happy So they will never want to leave!Make living at your community a pleasure, fun, rewarding, a feeling of belonging. Encourage member involvement.Follow-up on Member concerns from open Membership meetings.

**The staff member has 3 seconds to make a first impression, they should smile when answering the phone, and Management and/or Board should have a designated professional greeting Thank You for Calling Anywhere Cooperative, my name is Valerie how may I help you?*Does Your Cooperative have a Model Unit?*Basic Definition Networking informally*Val get Fridays coupons to distribute to class*Vic to get boards with logos last year and this year. Val provide Lincoln board before and after signage photos. Refer to Mayfield Green Signage Drawing.*DONT let your advertising be the same humdrum. Now Renting 1 and 2 Bedrooms. Make it POP!!!! Make it something interesting worth reading, otherwise it will get LOST in the shuffle.Pictures truly ARE worth a 1,000 words. **Example Lincoln one-liner ads (during renovation). Glenburn Uncle Sam Special Ad**