Media Mix

“There is no specific way to connect the dots in my decision-making process. I talk to people. I read magazines. I go online for details. I may go from step one to step four in 15 seconds, or 15 days.”
-Focus Group Attendee, Media and Marketing's Influence on Buyers (Harris Interactive) Alexandria, Va.

Hanley Wood has invested in a MAJOR research study to take a pulse on how our reader is using media these days. It is very easy to make sweeping statements about the various forms of information delivery but the verbatim comment above really hits home.

One source is not enough.

This holds true for multifamily industry professionals, service providers and publishers like Hanley Wood.

Trade magazines, peer recommendations, vendor web sites, sales staff, media company web sites and conferences are the leading sources of information and ALL are vital in influencing the final decision of a buyer.

In an ideal world our sales team would cover 100% of the market and deliver our firm's "story" to the key influencers and buyers. While we all can push closer to an optimal number of direct contacts, we all know that we are ultimately reaching a relatively small number of potential customers with our direct selling efforts.

So what is the optimal media mix? How can we optimize our multichannel presence? Stay tuned for additional posts or contact your Regional Sales Manager for an advanced look at the complete findings.

This study is a key component of how Hanley Wood will be going to market in the coming year. While other publishers are abandoning print, cutting events and looking online as a cheaper way to do business, we are making big investments across the board. In this information-rich environment it is essential to give our readers, attendees and online visitors more reasons to engage with our brands, not fewer.

The Trade Show Dilemma

In the wake of a stretch of June event participation I wanted to reflect on the value of the conference/trade show. I have been going to events for 13 years and no matter how well attended the event may be there always seems to be an undercurrent of reluctance to participate.

At this year's Builder Show, an event that has more than 100,000 attendees, there were many exhibitors who were concerned about traffic being "off." This observation and concern is very real, but does it mean that the investment is not as valauble?

The multifamily industry doesn't have the market cornered on this marketing challenge. If you have come from another industry you probably can identify. After doing some research of my own, here are the most common issues that ALL industries have with the trade show:

* not enough leads to justify the investment
* attendees don't want to interact on an exhibit floor
* attendees that do interact seem to only be looking for giveaways
* we can't track sales that result from our participation
* my booth was in a low traffic area of the floor

These are just a few concerns, I am sure all of us have a few to add to the list! The bottom line is that trade shows are effective. If they weren't, there simply would not be so many. The key is figuring out how to set a reasonable expectation of success and focusing all of our efforts on achieving that success.

I received a newsletter today that did a wonderful job of explaining the dilemma and why we often think that our efforts may not be effective. Check out this article on BtoB Online. The research is a bit self serving because it is conducted by a firm that creates exhibit displays, but I think the strategy observations are on the money.

In summary: If we define a show by immediate ROI we are typically disappointed. And sometimes within our own orgazinization sales, marketing and senior management each have a different definition of success. This disconnect may seem harmless but it is certainly a barrier to achieving a positive outcome for everyone involved.

When all 3 groups are on the same page, and direct the firms resources towards a unified strategy, the results will follow.

When I look back on a "successful show" it is always the ones where I was able to be most prepared. I set appointments beforehand, had a gameplan during and followed up effectively afterwards. If nothing else a conference or trade show gathers hundreds (and sometimes thousands) of potential clients in one city for a limited amount of time. The opportunity is there to meet customers, change perceptions of prospects, build your company's brand and boost your industry knowledge.

These points seem painstakingly obvious but when we don't make time to prepare and develop realistic goals we are probably better off staying home. Unfortunately I can speak from experience in this area.

I will follow-up with some specific tips that I have gathered on how to make your show experiences more productive.

MFE Conference

Since the inquiries about the MFE Conference have ramped up significantly this week, I thought I would dedicate some space to providing the latest info. Here are some important facts for sponsors and exhibitors.


Date: October 2-4, 2007
Location: Venetian Resort & Casino, Las Vegas
Target Audience: Owners, Operators & Developers of Multifamily Housing
Total Attendance: more than 800 total attendees in 2006
Exhibits: Limited to 70 total ($5750 for 10x10 space: 3 full registrations, carpet, table, chairs included)
* service providers must be an exhibitor or sponsor to attend the conference.


Day1: Golf Tournament, Opening Keynote, Opening Reception on Exhibit Hall Floor

Day2: Breakfast on Exhibit Floor, Sessions, Networking Lunch on Exhibit Floor, Sessions, Awards Dinner Reception, MFE Awards Gala

Day 3: Breakfast on Exhibit Floor, Sessions, Marcus & Millichap National Market Overview


Confirmed Speakers:
Stan Harrelson, president and CEO, Pinnacle
Thomas Toomey, CEO, UDRT
Mark Fogelman, president, Fogelman Management
Curtis Kemeny, CEO, Boston Residential Group
Julie Smith, president, Bozzuto Management
Drew Taylor, director of asset management, Mid America Apartment Communities
Jamie Gorski, Kettler
Stephen Zaleski, director of acquisitions, Berkshire Property Advisors
Dave Woodward, CEO, Laramar Group
Steve Heimler, founder, Stratus Real Estate
Bill Donges, CEO, Lane Company
George Quay, president and COO, Village Green
David Schwartz, managing member, Waterton Associates
Jeffrey Goldberg, managing partner, The Milestone Group
David Fitch, CEO, Gables
Greg Mutz, CEO, AMLI
...with many more to come.


Confirmed Sponsors: Time Warner Cable, Whirlpool, American Express, Apartments.com, AT&T SmartMoves, Bader Company, Greystone Financial, Marcus & Millichap, RealPage, Rent.com, Verizon, Yardi, CBRE and First Advantage SafeRent.

Conference website: www.mfeconference.com