2023 Property Marketing Playbook

2023 Property Marketing Playbook




4 5 8 9

Marketing Overview

C&W’s Marketing Approach

Our Commitment

Partnering with Property Teams Communications with Marketing

10 12 13

Marketing’s Realm

C&W-Approved Marketing Vendor

14 15 16 17 18

Marketing Support – By Phase

Marketing & Business Development

Pre-Development, Pre-Leasing, & Lease-Up Marketing

Property Transitions (IN) Property Dispositions (OUT)

19 20

Creating a Strategy

Property Marketing Plans Property Marketing Budgets


23 24 26

Social Media, Reputation, & Resident Engagement

Social Media Management


Online Reputation Management (ORM)

28 30 33

Tracking Performance & Audits

Analyzing Marketing & Leasing Performance

Marketing & Advertising Audits

34 35 36

Important Resources

Resources for All Your Marketing Needs

Glossary of Marketing Terms



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CUSHMAN & WAKEFIELD’S Marketing Approach


CUSHMAN & WAKEFIELD’S MARKETING DEPARTMENT supports all property marketing efforts, covering a wide range of services and project types. Working as consultants to both internal and external stakeholders, Regional Marketing Teams provide support that includes, but not limited to: • Building and maintaining property websites

• Marketing strategy development for all C&W properties • Creating property marketing plans for business development projects • Crafting detailed property marketing budgets • Brand development and re-branding projects • Guiding property team members as they execute day-to day aspects of the marketing strategies • Establishing social media profiles and implementing standards of management • Directing the online reputation management efforts • Setting up all digital marketing and advertising campaigns

• Ordering property photography, videography, and virtual tours and posting to marketing-related digital platforms • Reviewing source performance and making recommendations for improvement • Partnering with marketing vendors to order services, troubleshoot issues, make strategy adjustments, and actively monitor performance • Creating and maintaining valuable resources for all involved in property marketing to support marketing efforts and ensure success

ALL MARKETING AND ADVERTISING DEVELOPMENT including traditional, non-traditional and online design projects may be facilitated through third-party vendors. These will include self-service platforms to create and provide support for:

• Print marketing • Property signage • Branded materials • Logo design • Promotional items

• Reputation management • Photo, video, media, virtual staging

• Digital marketing • Property website

• AI chatbots • Virtual tours • Lead tracking • Outreach marketing

• Search engine optimization (SEO) • Search engine marketing (SEM) • Internet listing services (ILS) • Social media

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MARKETING TEAM STRUCTURE The Marketing Departing is comprised of several Regional Marketing Teams who are assigned to properties over a large geographical area. The Regional Marketing Teams, each led by a Regional Marketing Director (RMD), oversees all advertising efforts at each property. In some cases, an RMD may also oversee all properties nationwide for one of C&W’s large client groups in addition to their geographical region. C&W also has a separate division for Single Family

Rentals, or SFR and sometimes referred to as B2R or Build-to-Rent, which has its own team of marketing professionals who are part of the Marketing Department. Each Regional Marketing Team traditionally includes a Regional Marketing Manager and/or a Regional Marketing Coordinator, but some regions have only an RMD. These teams are the go-to resources for all property marketing needs.

Two Senior Directors of Marketing & Communication oversee the East and West divisions of the nation.


• Northeast • DC-Metro • Carolinas • Southeast


• South Central • All SFR assets nationwide

• Pacific Northwest • Southwest • Desert • Midwest


THE MARKETING DEPARTMENT ALSO HAS A MARKETING SERVICES TEAM comprised of Marketing Managers, Marketing Analysts, and Digital Marketing Coordinators who are led by a Senior Director of Marketing Services. This team provides invaluable marketing support for our digital marketing platforms including property websites, Google Analytics, social media, and much more. C&W’s full team of marketing experts are led by the Senior Director of National Property Marketing. The Senior Director works in tandem with other department heads and corporate executives to develop national standards of practice for marketing, formulate and implement initiatives, establish and maintain national vendor partnerships, and the list goes on.

PROPERTY MARKETING at C&W requires a close working relationship with the property teams and regional stakeholders. If you encounter any questions about marketing or have questions about the materials covered in this playbook, just reach out to your Regional Marketing Team!

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SETH KAPLAN Senior Director, National Property Marketing


ALEX MCGHEE Senior Director, Marketing Services


ASHLY GONZALEZ Marketing Manager JAKE GRAF National Marketing Manager ALEX REED Digital Marketing Manager

LEANN FREEMAN - SOUTHWEST Regional Marketing Director CHRISTINA MARTINEZ Marketing Manager

HEATHER GOTTLIEB - SOUTHEAST Regional Marketing Director

MIA CHIGUMIRA Marketing Manager RACHEL SCHLEIFER Marketing Coordinator

TBD Marketing Analyst

ALLY SCHWABE - PACIFIC NORTHWEST Regional Marketing Director KAYLA BIEHL Marketing Manager TBD Marketing Coordinator

HEATHER WHITE - NORTHEAST Regional Marketing Director

EDDY WALL National Marketing Manager

MUFFY MASCIO - SOUTH CENTRAL Regional Marketing Director

AMBER FRISBIE Senior Marketing Manager

EMILY MOHOLICK - MOUNTAIN Regional Marketing Director

MEGAN CLARK Marketing Manager

MARISA BAEZA - New York Regional Marketing Director PINNACLE CITY LIVING

ROBYN PINHEIRO Marketing Manager

BRYAN MAYBERRY - National Regional Marketing Director SINGLE FAMILY RENTALS

LINDSEY BERNHARDT - MIDWEST Regional Marketing Director

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THE MARKETING DEPARTMENT TAKES GREAT PRIDE in the properties we oversee. Your success leads to our success and vice versa, effectively creating a symbiotic working relationship. To support Marketing’s endeavor to provide the best possible marketing support to every property, each Regional Marketing Team has one guiding principle, and it’s rather simple: OUR COMMITMENT OUR MISSION Educate and Empower property operators to comprehend and manage their marketing strategy with skill and confidence Marketing’s promise coincides with C&W’s global purpose: “We make an impact. Our work creates meaningful value for our clients, our businesses, our shareholders, our people, our communities, and world.” The Marketing Team is always here to help! We give a great deal of thought and consideration when crafting strategies, setting goals,

We will lead with EXPERTISE

Guide with HONESTY


Respond with EFFICIENCY

Which will set us all up for SUCCESS

and when responding to questions. Our philosophy is to identify opportunities and tackle issues quickly if they ever arise. Everything we do each day is to help you, your team, your community, and our clients be successful!

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Partnering with Property Teams

THE MARKETING DEPARTMENT ASSISTS with many aspects of property marketing, the majority of which are digital advertising campaigns. The team also helps strategize how to effectively market a property, create marketing plans, request new services from vendors, set up campaign platforms, create and edit property websites, and troubleshoot issues that may arise with any of these. They prepare the property teams for success. However, as mentioned earlier, the property teams are relied upon for the execution of everyday marketing tasks. • Social media management – Effectively managing social media platforms via SOCi or Rent. • Reputation management – Responding to reviews and encouraging feedback via SOCi, Rent., or Opiniion. • Community outreach – Partnering with local businesses for cross promotion and resident incentives, and participating in local events as a means of advertising the property • Employer outreach – Identifying preferred employers and establishing a Preferred Employer Program, or PEP, to offer move-in incentives • Miscellaneous outreach – Walk in a local parade, highway clean-up, display signs/balloons, etc. THE MOST COMMON MARKETING TASKS INCLUDE:

• Post Craigslist ads via Rooof Post Engine where applicable • Ordering off-the-shelf collateral through the Benson online store and creating flyers via Canva • Nudge marketing – Adding pop-up banners to property website to advertise concessions in RentCafé Site Manager • Monitoring performance of advertising sources in Yardi CRM and Knock • Client reporting – Providing marketing-related reporting as requested by clients as part of your weekly/monthly/ quarterly reporting package


PROPERTY MANAGERS AND THEIR RPMS are expected to be fully engaged with clients when questions regarding the property marketing strategy arise. For any inquiries that the local operations team are unable to answer, the Property Manager and RPM are welcomed to reach out to their Marketing Team for insights to relay to the client. For additional information regarding client communication protocols, please refer to the Communications with Marketing section of this Playbook.

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Communication with Marketing

JUST AS IMPORTANT as a property marketing strategy is a unified approach when communicating with our property ownership groups. Proper communication is imperative to the success of all involved with the marketing strategy. At Cushman & Wakefield, the RPM is the main point of contact for clients and all client communication flows through them. The RPM will funnel client communication to and from their Marketing Team when the RPM or

Property Manager are unable to answer difficult marketing questions or implement marketing directives. The Marketing Team does not communicate directly with clients and is unable to take part in recurring and non recurring client calls. Of course, the Marketing Team is always available to field any questions or concerns that the property operators are unable to answer. As a team, we are committed to providing quick, thoughtful responses to meet our clients’ needs!


We are committed to providing quick, thoughtful responses to meet our clients’ needs!







1. Limited Department Size – C&W has structured the Marketing Department whereby large portfolios are assigned to relatively few team members – in many cases only two or less. To provide efficient services to their large portfolios, it is imperative for RPMs to act as intermediaries between clients and the Marketing Team and refrain from including Marketing in client calls, emails, and meetings. a. As of late 2022, the average property count for a Regional Marketing Team is 117 with some exceeding 200 communities, and in some cases nearly as many client groups. 2.Consistent Messaging – As the primary spokesperson who channels communications to the clients, RPMs can closely control messaging to ensure continuity and consistency across all departments. In other words, it prevents us from misspeaking or making differing statements. Having a unified message is critical in client relations.

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THERE ARE THREE EXCEPTIONS when the Marketing Team will have direct communication with clients: Business development pursuits (pitch presentations), pre-development and pre-leasing marketing ramp-up, and branding or re-branding projects. In these situations, Marketing Team members will include the RPMs and Property Managers in all communications with the client with the expectation that they play an active role in all conversations. Once the project concludes or when the property enters the lease-up phase, the Marketing Team will revert to the standard communication protocol and RPMs will resume their role as intermediary.

Marketing connmucates directly with clients and regional property manager ONLY durning


IN THE - then -


Marketing NO LONGER has direct communication with clients and all messaging must follow though the RPManagers







EVERYTHING THE MARKETING TEAM DOES is accomplished online. As a result, each Marketing Team maintains open communications with the property teams and regional stakeholders. These local experts keep Marketing informed of the unique aspects of the local area, the development pipeline, demographics, and more. The Marketing Teams rely heavily on the expertise of the property operators when developing marketing strategies and implementing advertising tactics and, in turn, do not typically make property visits during any phase of property operations, including construction and pre-leasing.


process is at the sole discretion of the Marketing Team member(s) being asked to travel. Iff

WITH THE EXPANSIVE TERRITORIES each Regional Marketing Team oversees, traveling from home base to a property can be an all day proposition. Even for properties within a short drive, being out-of-pocket on travel days causes delays in service and deliverables. Our focus is to provide fast, efficient, quality service to our properties; our approach regarding property visits helps support this effort.

A REQUEST FOR TRAVEL IS MADE , it will need to be approved by both the region’s Managing Director and the Marketing Department’s leadership, and all travel expenses will be billed to the property. Accepting and accommodating travel requests outside the Business Development

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THE MARKETING DEPARTMENT AT CUSHMAN & WAKEFIELD oversees a multitude of services, vendor partnerships, and provides extensive oversight of all advertising, social media, and reputation management efforts. Being involved in so many aspects of a property’s operational strategy, there can be confusion about what falls under Marketing’s purview. The best rule of thumb is this:

MARKETING. Anything that attracts a prospect and influences them to submit a lead, that’s considered

As soon as that prospect contacts the property, it's OPERATIONS.

ANOTHER WAY OF THINKING ABOUT IT IS where it falls in your property budget. Items like Yardi, Knock, call centers, ScentAir, prospect follow-up services, resident events, etc. are coded under operational expenses because they’re not a true means of advertising the property. For clarification, here’s a brief rundown of what falls under Marketing and what falls under Operations:


• CRM (Knock, Yardi) • Property Management Software (Yardi, Entrata) • Pricing & Availability • Call Centers • Lead Nurturing (TouchPoint, MeetElise) • Texting Services • Social Media and Reputation Management • Alternative Touring Options (Rently, Tour24) • Resident Apps (Modern Message, Zego) • Resident Experiences (Amenify, HelloAlfred) • Move-In Gifts (Loop & Tie) • Resident Surveys (Ellis, J Turner) • Property Enhancements (ScentAir, music licenses) • Décor & Interior Designs (Wayfair, West Elm) • Temporary & small signage (flags, banners, bandits) • Local Broker Relationships and MLS Listings

• ILS Advertising (Apatments.com, etc.) • Property Websites • SEO Services • SEM & PPC Advertising • Geofencing & Geotargeting • Email Advertising & Direct Mail • Social Advertising • Social Media Profile Creation & Tools Setup • Reputation Management Tools Setup • Directory Listings (Google Business, Yelp) • Branding & Re-Branding • Collateral Design • Floor Plan Drawings & Site Maps • Permanent Signage (monuments, extensive projects) • Photography & Virtual Tours • Website Chatbot Implementation (BetterBot, Knock)

If you happen to contact your Marketing Team about something that falls outside of Marketing’s realm, they will do their best to guide you to the right resource to find a resolution!

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CUSHMAN & WAKEFIELD’S Approved Marketing Vendors

CUSHMAN & WAKEFIELD HAS ALIGNED THEMSELVES WITH TOP-TIER VENDOR PARTNERS , most of which operate and provide services to properties nationwide. Our marketing and advertising partners have been vetted by C&W’s Legal Department and, in many cases, Master Service Agreements (MSAs) have been established. Part of our company’s strategy is to create added value for clients through negotiating favorable contract terms and industry-best pricing. Advertisers from Costar to Zillow, to photography services from LCPMedia, to collateral and signage experts like Benson have all been vetted by our Legal Department and executive leadership team. In turn, and in accordance with C&W’s standard operating procedure, the Marketing Department is required to utilize only C&W-approved

vendor partners for any marketing services. We strongly encourage the property teams and regional stakeholders to do the same in order to enjoy cost savings, ease of invoicing and accounts payable, and compliance. In the event a property team, regional stakeholder, or client requests to engage with a vendor who is not a C&W-approved vendor partner, the responsibility of establishing that vendor relationship and managing the project will fall to the property operators. The Marketing Team will remain available for input on design but cannot be actively involved in sourcing or vetting an unapproved vendor.

EXAMPLE SITUATION A client has asked that we partner with a local sign company to create and install a new monument sign. Benson is the only approved vendor for permanent signage projects and the only vendor marketing can engage. As a result, the responsibility of managing the process will shift to the RPM and Property Manager. The Marketing Team will provide branding guidelines and feedback on design concepts. A full list of approved vendors is located on the Intranet under the Approved Vendors section. Here, you can view approved vendors related to: • Marketing • Property Technology

COMMUNICATING WITH ADVERTISING PARTNERS Cushman & Wakefield has been assigned a national representative by each of our marketing vendors. These national reps are the Marketing Team’s go to resources for ordering contracts and requesting changes in service. Your Regional Marketing Team handles all communication with these national reps on the property’s behalf. However, some vendors, namely ILSs like Costar (Apartments.com) and Rent., have local sales reps who may contact a property directly without consulting the Marketing Team or our national rep. While the property teams are welcome to meet with them to review their ad’s performance metrics,

• Purchasing • Operations

review local market data, etc., we ask that you refer all advertisers to your Marketing Team if they propose changes to the strategy such as upgrades, downgrades, new services, or cancellations . The Marketing Team is happy to review any information provided by the local rep and evaluate their suggestions with the RPM. Marketing needs to accurately track which advertising services – and at what package level – are enabled at your property. They also need to track all strategy changes, changes is expenses for budget purposes, and performance analytics such as ROI.

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PHASE Business Development

PARTICIPATING IN THE BUSINESS DEVELOPMENT PROCESS and expanding our portfolio is both exciting and rewarding for everyone involved! The business development process is led by the America’s Business Development (ABD) Team and includes participation from the Client Services Team, regional stakeholders, and marketing. The chart below was created by the ABD Team and explains what is involved in the business development process for each Tier. For Marketing’s part, the Regional Marketing Director (RMD) is included in the process but in varying degrees depending on the tier level assigned to the pursuit.


Tier 3

Tier 2

Tier 1

Criteria (meets one or more of below)

Criteria (meets one or more of below)

Criteria (meets one or more of below)

When prospecting and providing initial information C&W’s capabilities for introductory purposes please provide any of the following off-the-shelf collateral: • Asset Services Brochure • Multifamily Brochure • Asset Services One-Pager • Multifamily One - Pager • Single-Family One Pager • Capabilities Packages

• Under 150 units • Capabilities focused/requested by client • Non-competitive proposal/ presentation for formality

• 150 - 300 units • Strategic or growth target client • Multimarket opportunity

• 300 units or more • Strategic or growth target client • Multimarket opportunity

Partnership Scope

Partnership Scope

Partnership Scope

• Self-Serve templates provided • Minor clean-up/trouble-shooting support provided, as needed • Property marketing scrub

• ABD lead tagged to run modified BD process • C&W design look/feel (possiblity of custom in some instances) • Templated property marketing strategy, with sample promo items

• ABD lead tagged to run full BD process • Custom design look/feel • Custom property marketing

strategy, with customized purposeful promo items

*Materials to be used as is - not tailored to the client/pursuit

BUSINESS DEVELOPMENT-RELATED TRAVEL For Tier 1 pursuits, the RMD will typically be included in the client meeting where C&W’s team will pitch services. These meetings are led by the Client Services Team and include the regional operators and the client group. The Client Services team, in unity with C&W’s Green Initiatives and expense policies, will encourage a virtual meeting. Virtual meetings reinforce C&W’s commitment to sustainable practices and serves as an example of our fiscal responsibility which will extend to the asset we’re pursuing. However, some clients will insist on an in-person meeting. Client Services will coordinate a meeting that all participants can accommodate with either scenario. On rare occasions when the RMD is unavailable to attend a meeting, they will make every effort to source a substitute from within their region or ask a Marketing Department leader to attend. Whether it be a prior commitment that cannot be rescheduled or previously scheduled time away from work, C&W values team members’ time and the Marketing Department will support them in every way possible. For Tier 3 pursuits, the RMD will provide a marketing scrub. The scrub is typically a simple email to the RPM or Managing Director and provides bulleted commentary regarding the subject property’s digital presence and what changes we recommend implementing. In some cases, the RMD will also provide a detailed marketing budget when requested. For Tier 2, the ABD Team will utilize the templated marketing strategy they have on file. If requested, the RMD will provide a detailed marketing budget and/or a marketing scrub. Tier 1 pursuits require more involvement from the RMD, providing a fully customized marketing strategy, a detailed marketing budget, and they will also be involved in the proposal building process. If a client meeting is scheduled, the RMD will also participate in the meeting rehearsals and subsequent pitch presentation.

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A new property lease-up is one of the most exciting experiences in the industry. It’s challenging, fun, and allows property team members to get involved in building the property brand, establishing the marketing approach, and leasing new apartments as the site becomes an active member of the community.

THREE ITEMS ARE ESTABLISHED VERY EARLY IN THE PROCESS if not already created during the business development process:

A marketing timeline

A comprehensive marketing plan

A detailed marketing budget

COLLECTIVELY , these three items outline every marketing vehicle we’ll use to reach the target demographic, taking into consideration supply-and-demand factors as well as the property’s position in the marketplace. They also clearly state dates of execution, goals, and expectations. THE MARKETING TEAM WILL BE VERY INVOLVED in the Development and Pre-Leasing phases of the project as they work on tasks that range from branding and building the property website, to establishing social media profiles and ordering photography. The heaviest “lift” for Marketing occurs during Development and Pre-Leasing, and it’s during these two phases that direct communication between Marketing and the client may occur. The Marketing Team will include the RPM and Property Manager in all communication with the expectation that they be actively involved in the conversations. With delivery of first units and the commencement of the Lease-Up phase, most of Marketing’s tasks will have been completed. Marketing will pull back from direct communication with the clients, reverting to C&W’s standard communication protocols. The Marketing team will continue working behind the scenes to monitor performance and fine tune where needed to support a successful lease-up!

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IT’S ALWAYS A VERY EXCITING TIME when Cushman & Wakefield is awarded management of a property! Transitions are complex and require a rigid process to make sure all departments complete every necessary task on schedule. Knowing how critical this process is, C&W has a Transitions Team that quarterback all property transitions. The Transitions Team will assign a Transitions Manager to the project who will then schedule a series of transitions calls. These calls include all key stakeholders such as Client Services (when necessary), the Regional Marketing Team, HR & Recruiting, and the local operations team including the RPM, Director, and/or Managing Director. THE MARKETING TEAM’S ROLE in transitions includes several tasks that need to be completed at certain intervals in order to be ready by takeover day. These tasks require basic property information such as unit count, legal entity name, main office phone number, the property’s C&W email addresses, etc. Marketing’s tasks during transitions include: PHASE Property Transition (IN)


Two criteria must be met before the Marketing Team orders contracts and engages with vendor partners on projects: 1. A Property Management Agreement, or PMA, must be executed by the client. Alternatively, a Consulting Agreement indicating the client is responsible for all marketing expenses must be executed by the client. This is

a non-negotiable C&W policy. 2. The client must approve the marketing budget.

• Creating a detailed marketing budget

• A budget may have been created during the business development process. In this case, the Marketing Team will revise where needed and recirculate to the regional stakeholders. The regional stakeholders will include Marketing’s numbers in their Operations Budget and submit to the client for approval.

• Asking the Transitions Manager and the RPM to share the Marketing Asset Collection form with the outgoing management firm. This document includes a detailed list of all digital assets needed such as photos, logos, etc., and directions on how to transfer ownership of domains and social media profiles. • Creating a property website with the help of the Marketing Services Team • Ordering marketing services once the client has approved the marketing budget • Circulating tracking phone numbers and emails with advertisers once issued by Ancillary Services • This occurs when Yardi CRM or Knock go live, usually about two weeks post-transition. In the meantime, the direct phone number and primary property email are used. • Working with Benson to create an account for the property. Once credentials are issued, the Marketing Team will share them with the RPM and Property Manager. • Ordering an acquisitions kit from Benson which includes a variety of office items such as leasing signs and manual guest cards. The kit may arrive in multiple boxes. • In some cases, the RPM may request the kit be shipped directly to their home or to a nearby property to prevent items from being misplaced prior to C&W’s team taking over management. • Commencing special projects including photography, engaging an agency for re-branding, engaging Benson to design and install new monument signs, having floor plans redrawn, etc. When preparing for transition, DO NOT assume the phone number and address listed on Google or the Google Business Listing are accurate. The phone number may be a tracking number and be disconnected by the outgoing management firm, and the address may be for an off-site office..

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PHASE Property Transition (OUT)

When informed of the disposition, the Marketing Team will confirm the last date of management and obtain contact information for a marketing or operations person at the incoming management firm to share with our vendor partners. The Marketing Team will then complete the following: WHEN C&W IS NOTIFIED BY A CLIENT THAT MANAGEMENT IS TO BE DISCONTINUED , the RPM, Director, or Managing Director will relay the information to their Regional Marketing Team. Though we don’t like to see dispositions happen, they are a normal course of business and our Marketing Department takes great care in providing all the information the incoming management firm will need to continue successfully marketing the property.

• Notify all marketing vendors via email, CC-ing the RPMs, of the pending disposition and include: • Unless otherwise directed by the incoming management firm, a request that the email serve as our 30-day notice of cancellation effective the final day of management, or as soon as possible thereafter as permitted by the contract • A request that all unpaid invoices, including the final invoice, be submitted to the property ASAP • Contact information for the incoming management firm • Send a confirmation email to the RPM that contains the following: • A link to a shared folder containing all digital assets in all formats • Property photos and videos including hi-res and low-res versions • Floor plans • Logos • Brand guide, color guide, fonts, etc. • Electronic collateral, proofs, and all other artwork • Confirmation that cancellation requests have been sent to all marketing vendors • Contact information for the Marketing Services Team member(s) who will oversee website domain transfers, social media profile transfers, and Google Business transfers • Marketing will share historical reporting upon request but will exclude expenses and product costs.

If a property’s ownership transitions from one client group to another, the Marketing Team may take a modified approach. Instead of sending cancellation notifications, the team will notify the marketing vendors of the change in ownership and provide them with the new legal entity and Yardi RES code, where applicable.

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Property Marketing Plans

CUSHMAN & WAKEFIELD OFFERS A STANDARD MARKETING PLAN that provides a high-level overview and general approach to property marketing. This plan communicates what actions are taken to support the property’s overall success and provides a coherent framework from which to build upon when creating the detailed marketing budget. It gives clarity, confidence, and stability while leaving no room for assumptions, and it serves as evidence that both thought and effort has been put into achieving our goals for all C&W-managed assets.


• Objectives/Goals • Strategies • Marketing Approach

• Primary Tactics • Advertising Mix • Marketing Tools

FOR A MORE PROPERTY-CENTRIC PLAN , customized Marketing Action Plans are available upon request and are drafted in response to below average marketing performance – primarily low traffic volume – over a sustained period.

To drive the plan’s creation, the RPM will work closely with the Marketing Team to identify all necessary goals and objectives. All strategies and plans will be thoroughly reviewed and approved by the RPM prior to them sharing it with the client.

20 | Table of Contents the RPM or Property Manager desires, they are welcomed to complete a Marketing Action Plan in the event the lead volume is within or above C&W’s goal range, but the property team is underperforming. If If


Property Marketing Budgets

A CAREFULLY CRAFTED MARKETING STRATEGY IS FUNDAMENTAL to the success of property marketing. At its core is a detailed marketing budget. The marketing budget is created early in the new property management process, often during the business development phase. Each time we are awarded a new property, a marketing budget is created as a baseline approach to how the asset will be marketed. It provides a blueprint for how we will effectively market the property. A detailed marketing budget serves several purposes, providing everything from a full scope of all marketing services to be used, to detailed costs for each. It includes expenses across various service categories and temporal ranges, when each service will be initiated, and it also serves as a tracker for notating changes that occur throughout the budget year.


Pricing for each service including start-up fees and one-time charges,

A C&W GL code table for convenient plug and-play with the Property Operations Budget template

Estimated expenses for one-time services such as branding and photography

Cost analysis by month and year, and by item and service category

A full rundown of marketing vendors

annual fees, and recurring costs

Taking the time to thoughtfully craft a detailed marketing budget will maximize performance, effectiveness, and return on investment. The Regional Marketing Team will create a marketing budget for a new asset or guide the property team or RPM in creating one. Requests for marketing budgets require advance notice of at least three business days if the Marketing Team is building it for the team, though there may be times where delivery is faster.

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In the event the RPM or PM needs to complete a detailed marketing budget for the following budget year, or they would like to get a general idea of what the Marketing Department would recommend for a standard budget, the Marketing Budget Tool is available on the Intranet at Corporate Central > Marketing > Resources > Marketing Toolkit . This budget tool has several features that make the process intuitive and easy to do! Before getting started, you’ll want to remember the following: • Ask your Marketing Team to provide recommendations for the following year based on in-place service and historical performance. • Use the convenient GL Code table at the bottom of the budget for easy plug-and-play with the property’s Operations Budget. • If ownership requests changes, engage your Marketing Team to provide updated recommendations based on the client’s direction. They will be the best resources when determining where changes can be made while minimizing impact on performance. • Changes will be implemented as soon as the client has approved the budget. • For transitions, the client must approve the budget and execute the PMA, Consulting Agreement, or similar before any marketing services are initiated. This is a non-negotiable C&W policy.

The Marketing Budget Tool is an Excel document with a series of over 30 pre-filled budgets, each based on property status, size, and location. There is a Key tab that explains what each budget tab means and a GL Code Reference tab that identifies what GL code is assigned to each service.

Find the budget tab that corresponds with the property status, unit count, and location of the subject property, then delete all other tabs except the GL Code Ref tab. COMPLETING A BUDGET IS EASY WHEN YOU FOLLOW THESE GENERAL STEPS: 1 2 3

Add the property name and unit count at the top of the budget

4 Use caution! – never delete a row or column as it will break the formulas elsewhere in the table. Also, never make edits to the GL Code table.

Starting at the top, work your way through each line item and determine: a . Is the item needed? If not, clear any pre-filled dollar amounts and hide the row. b . If the item is needed, add dollar amounts or review and adjust any pre-filled dollar amounts based on unit count or package needed.

For an in-depth guide on how to complete a detailed marketing budget, refer to the Marketing Masterclass series located in the Knowtable library.

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Social Media Management

Cushman & Wakefield has a long list of resources to help properties manage their online social presence. They include everything from checklists and how-to guides on the Intranet, to Workday Learning courses and Marketing Masterclass videos. If you and your team are looking for a good place to start, complete the Social Media Management course on Workday Learning in the Knowtable library, then download and review. BETWEEN ONLINE ADS, REPUTATION WEBSITES, AND SOCIAL MEDIA PROFILES, prospects today have more transparency to see what it’s like to live in your community. They take this into account when determining if your property offers the lifestyle they seek. Managing your property’s social media accounts can be your best method for showcasing your true property brand!






SOCi and Rent. are our preferred partners for social media management dashboards and tools. Leveraging their platforms can save you time – and payroll – when posting to your social media profiles. SOCi and Rent. allow one-stop publishing to Facebook, Instagram, Google, and more. For an additional charge, they’ll post content on your behalf, too. • “Scratch their back, they’ll scratch yours.” If you’re posting about a local business, be sure tag them and follow them. Many will follow back and/or share your future posts to their network of followers! • Assign a property team member the role of Social Media Captain. They will post to all social media pages and the Google Business Listing via SOCi or Rent. • Plan and submit content ideas to your Social Media Captain who will compose and schedule posts up to several weeks or months in advance via SOCi or Rent. • Upload at least two posts to each social profile each week , ideally more than two. This is in addition to any content uploaded by SOCi, Rent., or other content providers on your behalf. • Schedule reminders to actively promote your social pages to build an organic following • All posts should incorporate relevant hashtags to increase reach and following (i.e., #cityhashtag #apartmentlife) • Encourage residents to use branded hashtags and tag your location on photos when posting in and around your community • Always consider your voice and tone when posting. Be sensitive to the content you post and share. Remember, you are posting on behalf of a business. HOW TO SUCCESSFULLY MANAGE A PROPERTY’S SOCIAL MEDIA PRESENCE


on SOCi and Rent., download the Marketing Companion Guide located on the Intranet.

You can also contact your Regional Marketing Team.

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Social Media Dashboard

SOCi Social Media Management Dashboard

Rent. Social Media Management Dashboard

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Online Reputation Managment (ORM)

ONLINE REVIEWS ARE THE NUMBER ONE INFLUENCER IN LEASING DECISIONS. It’s even more important than price! A good online reputation is a critical component in a property’s digital curb appeal. It’s more important than ever that we effectively manage our online reputation.



– Rent of people consider a business with less than 4 stars 53% 53% Only


of renters will not contact or visit a property with multiple negative reviews

– Rent




cost savings on lead conversions 50% – J Turner Research Highly rated properties enjoy

higher resident retention 12% – J Turner Research Highly rated properties have

1 star can affect revenue by up to – Harvard Business Review 9%

Just as with social media management, resources for ORM are in great supply at Cushman & Wakefield. Start by completing the Reputation Management course and watch the Marketing Masterclass, both in the Knowtable library in Workday Training. Then download every resource about ORM from the Intranet at: CORPORATE CENTRAL > MARKETING > RESOURCES > MARKETING TOOLKIT. SOCI AND RENT. DASHBOARDS MAKE ORM EASY. Cushman & Wakefield partners with SOCi and Rent. who offer online platforms for easy management of your reputation. Users can set up alerts, compose responses and send for approval, and link to popular online ratings and review channels for easy posting. Training for these platforms is available directly from the providers, or for SOCi you can refer to the Marketing Masterclass as well. Here’s how the dashboards work: 1. SOCi or Rent. notifies the property team of a new online review via email. The task appears in the Review or Reputation section of the dashboard. 2. The property team member goes to SOCi or Rent., writes a response to the review using C&W’s standard structure (as explained in the Reputation Management course on Workday Learning), and submits for approval. 3. For SOCi users, the response is moved to the Pending column. The RPM or Regional Marketing Team reviews/edits/ approves. When approved, the response is automatically posted with the exception of Apartment Ratings. Responses for Apartment Ratings move to the Outbox for property team members to post on the ApartmenRatings.com website natively.

For an additional fee, SOCi and Rent. will respond to all online reviews on behalf of the property team. This eliminates steps 1 and 2 above, further streamlining the process. For full details or to implement this add-on service, contact your Regional Marketing Team.

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Reputation Dashboard

SOCi Reputation Management Dashboard

Rent. Reputation Management Dashboard

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Opiniion & Actively Seeing Feedback

Going further into Opiniion, this is a fantastic tool that makes it easy to get more – and more positive – online reviews. They send a simple survey at key moments in the resident lifecycle (move-in, post move-in, upon completion of maintenance requests, and post move-out) and ask residents to rate the property on a scale of 1 to 5 stars. If they click 4 or 5 stars, they’re routed to your Google, Yelp, or Apartment Ratings profile. If they click 3 stars or less, they’re routed to an internal feedback form that is forwarded to the office for a response. The cost of Opiniion is affordable and has significantly increased ratings at properties who use it, some by 1 full star in just 60 days! 1. JUST ASK! According to SatisFacts, 60% of residents would submit a review if asked. a . When to ask? When someone has a great experience at a resident event, or when you help them resolve an issue, or even a brief handwritten note on a completed work order. b. Make it easy. Give them a QR code or web link to your profile on Google, Yelp, or Apartment Ratings. Benson offers reputation management collateral at their online store. 2. USE OPINIION! It’s been a C&W must-have since 2022. AT C&W, WE BELIEVE TAKING AN ACTIVE APPROACH IN ORM IS THE BEST WAY TO SPUR HIGH RATINGS. Plus, the more positive reviews the property receives, the more legitimacy they add to their overall rating on that particular platform. Think about it – would you trust a restaurant that has 5 stars but only 10 reviews, or one that has 4.4 stars after 500 reviews? That level of legitimacy requires our property teams to actively seek feedback from residents and prospects. There are two primary things properties can do:

C&W requires all online ratings and reviews be responded to within 48 hours. For general questions regarding ORM or more info on full-service reputation management or Opiniion, contact your Regional Marketing Team.

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Analyzing Marketing & Leasing Performance

REGULARLY MONITORING AND TRACKING THE PERFORMANCE of property marketing and advertising is a best practice to ensure dollars are being spent wisely. RPMs and property team members are relied upon to monitor and alert their Marketing Team if they identify poor performance. The Marketing Team also monitors performance; however the property teams may detect issues before we do! The most efficient way to monitor performance is to pull a Conversion Life Cycle report (Yardi CRM) or a Conversions report (Knock), being sure to include at least 30 days of data, preferably 60 days. A larger sample size will result in a more comprehensive snapshot of performance. C&W’s goal is to generate an average of 5 to 7 leads per day during the “leasing season” or April through August, and 3 to 5 leads per day during the “off season” or September through March. Multiple reports can provide insight into source performance, but it is also important to identify any underlying factors impacting leasing performance like poor lead management, often resulting in low conversions. The primary examples of poor lead management include failure to closely manage the Unreviewed Queue (Yardi CRM) – essentially, not responding to new leads – and neglecting to perform follow-ups with prospects. Other examples include not confirming how a prospect first heard about the property and, when closing guest cards, asking prospects why they chose to rent elsewhere.

A recent addition to the Marketing Toolkit located on the Intranet is the Marketing and Leasing Scorecard. The scorecard helps teams create a snapshot of how marketing and leasing are performing, plus it automatically generates an action plan based on the results. The general items tracked in the scorecard include lead volume, cost per lead and lease, conversion performance, reputation scores, and website performance, all measured against C&W’s goals for each.


• Unreviewed Queue at or near zero by end of day • All follow-ups performed

• All new leads received responses • All follow-ups performed • Engagement score ≥ 85%.

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Analyzing Marketing & Leasing Performance

contacts their marketing team to perform a review of the marketing strategy, the Property Manger needs to complete a Marketing & Leasing Scorecard. They also need to check Yardi CRM or Knock to ensure new leads are being managed and follow-ups are being performed. BEFORE A PROPERTY TEAM or REGIONAL OPERATOR

When pulling data for the scorecard, we recommend at least 30 days of data, preferably 60 days. We also recommend excluding the most recent two week’s data from the reporting to provide all due fairness to the leasing team when evaluating conversion ratios. All metrics tracked in the scorecard are easily obtainable from Yardi CRM and Knock as well as SOCi or a simple web search. However, the website performance data is only accessible by a Marketing Team member via Google Analytics.

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