international generation zs renting behavior
TRANSCRIPT
Survey Results Surprised Many:
What Does International Generation Z Want?
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Speaker: Alan Gao, CEO of [email protected]
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Survey Methodology and Results ··································································· 3Five Misconceptions & Facts About Chinese Students ······························ 4Chinese Students: Three Personas and Their Stories ································· 9Marketing Practice Examples ·········································································· 12Q&A ····················································································································· 15
Schedule
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Survey Methodology
Methodology
Exploratory Research:
Int’l Gen Z’s journey of apartment hunting
Method: Open-ended Questions in Telephone
Interview
Sample Size: 40
Descriptive Research:
Influencers and preferences in selecting
an apartment
Method: Online Survey
Sample Size: 350 WE members attending PU,
UA, UMN and UIUC
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Misconception No.1- “Chinese Students Go with Luxury Housing Over Dorm Rooms.“
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Facts:• Luxury student housing is one-of-a-kind experience which can not get in China.• Majority are looking for inexpensive off-campus apartments.
23
212
32
65
815
7
20
0
50
100
150
200
250
$350-$400 $401-$450 $451-$500 $501-$550 $551-$600 $601-$800 $801-$900 >$901
WE MEMBERS MONTHLY RENT IN 2016/17
70%
19%
11%
What type of apartments do Chinese students choose?
Inexpensive$350-$500
Value of Money$501-$600
Luxury$601-$900
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Misconception No.2- Location is the No.1 influencer.
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Facts:• 3 most important influencers: Safety is of the utmost importance, followed by price and location.
USC Campus
Data Source: http://maps.latimes.com/neighborhoods/neighborhood/university-park/crime/
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Facts:• Do not assume students know nothing about your apartments.• Chinese students do discuss apartment and management.
WeHousing Apartment Report: Real Picture, On-site Tour.
WeChat: Where Chinese students communicate with each other.
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Misconception No.3- Reputation has less influence to Chinese students.
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Location, location, location!Safety is
Facts:• Chinese Gen Z’s preference on off-campus apartments varies a lot.• Understanding students’ preference is critical to a successful leasing year.
0%
10%
20%
30%
40%
50%
60%
70%
80%
safty
convenience
location
floorplanPrice
utility included
furniture
Question:“How does your apartment attract you?”
Univ. of Minnesota
univ. of illinois urbana-champaign
University of Arizona
Purdue University
On Average
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Misconception No.4- There is one-size-fits-all marketing strategy to reach oversea renters.
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Facts:• It takes efforts and lots of trust to apply on apartment’s system, especially for first time renters.• Chinese students need assistance in application, whether it be online or on site.
Has the leasing office received my
payment/application?
What exactly does the lease term
mean?
Technical issue…Any body can
help?
Are the apartments as
good as advertised?
Uncertainty
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Misconception No.5- Online application system is convenient for Chinese students.
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Personality Psychological Needs
Housing Needs
Brand
InterestTAG
Profiling
Safety
Transportation
Community
Price
Information
Security
Self Experience
Authority
Social
Chinese Students: Three Personas and Their Stories
www.we-housing.com [email protected] +1 510-761-8000
2/15/2017 10
Personality Psychological Needs
Housing Needs
Brand
InterestTAG
Profiling
Safety
Transportation
Community
Price
Information
Security
Self Experience
Authority
Social
Chinese Students: Three Personas and Their Stories
www.we-housing.com [email protected] +1 510-761-8000
2/15/2017 11
Personality Psychological Needs
Housing Needs
Brand
InterestTAG
Profiling
Safety
Transportation
Community
Price
Information
Security
Self Experience
Authority
Social
Chinese Students: Three Personas and Their Stories
www.we-housing.com [email protected] +1 510-761-8000
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1. WeChat is the No.1 social networking tool.
24/7 customer service for students in China or USA.
Marketing Practice Examples-Social Networking
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2. Live video streaming is a marketing gimmick.
Marketing Practice Examples-Social Networking
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3. Handbook: Everything you need to know about renting an apartment.
Marketing Practice Examples-Content Marketing
One Stop Booking Platform.Marketing, Booking and Leasing.
Alan Gao | [email protected] | 510-764-5000 | www.we-housing.com