TechCon 2017: A Recap

Members of our Sales and Marketing Team, Amy and Lance recently attended the Apartment Association of Denver’s TechCon 2017, hosted at Mile High Stadium (or whatever they are calling it these days!  True Denverites know it will always be Mile High!).  The day started out bright and early with networking beginning at 7:00am followed by 3 Breakout Sessions with 3 options for each.  Here are some takeaways from the event.  Look for more in-depth analyses on future blog posts!

The Voice of the Employee: Online Reputation Management 2.0 by Jen Piccotti of ManagInc

·The old adage of “The Customer is Always Right” goes back 117 years to a department store in London.  We need to shift our thinking to Virgin Atlantic’s Richard Branson’s philosophy: “The way you treat your employees is how they will treat your customers.”

·There is a direct correlation between resident turnover and employee turnover.

·If you are experiencing high turnovers with both your residents and employees, take a look at your policies.  You most likely have policies in place for timely resident communication, but do you have a similar policy in place for your employees?  They appreciate prompt responses just as much as your residents do.

·Treat your employees as if you would a resident or a client, and they in turn will enjoy their work experience, which will then give your residents or clients a better experience with your company. 

Email Remarketing:  The Most Cost Effective Tool in Our Arsenal by Donald Davidoff of D2 Demand Solutions

·Follow up on leads.  Email them back, call them back, text them back, whatever, just respond to their inquiry. You’ve spent so much money trying to get the leads, so why let that money and your potential money go to waste?

·It is more important to have a clean, quality list than a huge list with those uninterested.  Unsubscribes are actually a good thing.  Don’t waste your time, energy, and money on those who aren’t interested in your services.

·Make your content as specific as possible.  With today’s technology, this is easier than ever to achieve with a little extra effort on your part.  The example that he used was during a tour you learn a potential resident has a black lab, you tag them on the path of a pet owner.  And they receive pet specific emails, which includes a photo of a black lab, while others may receive a cat photo or another dog breed.

·Make sure each e-blast has both a purpose and a call to action. 

Denver Data Review by David Pierce of CoStar

22,000+ units in construction in Denver Metro Rent increases leveling in downtown Denver (due to increased supply?)

Smart Communities and Sustainability by Terrance Kane of Systems Management Group

Smart apartments are here, but this is just the beginning….new technology increasing rapidly The smart grids are modern electric power grid infrastructure for enhanced efficiency and reliability through automated control, high-power converters, modern communications infrastructure, sensing and metering technologies, and modern energy management techniques based on the optimization of demand, energy and network availability.

Resident Panel Focus Group by Elaine Williams Consulting

The Resident Panel featured apartment residents representing the Ballpark, DTC, Cherry Creek, Golden Triangle, Glendale, Central Downtown, Speer, Uptown, and Union Station. 43% were Millenials, 43% were Gen X, and 14% were Baby Boomers. 72% of the panel has lived in more than 2 communities in the past 3 years.  They represented garden, midrise, and high rise buildings ranked from A+ to B.  The age of the buildings range from brand new to 12 years old.

·Features that they want: location, security/key fob/concierge service, pet-friendly, fitness center, view, new modern appliances, interior amenities

·They all thought they would use the pool and the fitness center, but the majority do not.  Reasons included: prefers the gym closer to their job, broken equipment, dirty gym, sub-par equipment, no time for swimming.   What would make them use the gym would be on-demand classes, yoga instructor, lounge chairs, pool attendant, and towel service.

·Parking was one of the biggest issues for all of them. 

·They are all interested in having their apartments wired to be a Smart Home.  They really like the idea of a fingerprint entry.  As for a built-in Echo or similar, they would like just the capability to have it wired then they can bring their own system to use.

·Concierge Services were huge for them.  They liked having a gatekeeper and someone to take their packages.  They would be enticed by a building that had refrigerator/freezer storage for their online grocery shopping deliveries.

·More common workspace areas with plenty of charging stations, printers, and small conference rooms.  All of these panel members work from home in some capacity, so this was important to them. 

·As for the interior, they wouldn’t even dream of living in a unit that did not have an updated, modern, kitchen.  Their wish list includes granite or quartz countertops, stainless steel appliances, and updated cabinetry.  Flooring must be hardwood or a vinyl that looks like wood.