Conference planners are finalizing this year’s session line-up with presentations to get you thinking outside the revenue management box and geared up to take charge and implement pricing optimization strategies that deliver results. Whether you’re a tested early adopter or a newbie to revenue management, AptRev 2012 delivers the most engaging, informative and comprehensive content in the industry – just check out this year’s session line up:
Keynote: Revenue Management Perspectives from Other Verticals
Multifamily wasn’t the first industry to adopt revenue management, and it won’t be the last. Senior level speakers from the cruise line, telecommunications, and sports industries will present and discuss some of the trends and limitations they see of revenue management with their type of products, services, and organizations. Each will be asked to discuss technology, customer knowledge and response, marketing integration, wholesale level revenue management and career paths and trends.
Out of the Box: Revenue Management and Lease-up
Progressive multifamily operators have learned how to use revenue management systems to catalyze the lease-up process, gaining higher effective rents and dispensing with the need to use concessions to fill up. Learn how early adopters of revenue management are cloning established community data sets to engage revenue management systems as early as possible for better first year rents and renewals.
Pricing and Pop: Asset Repositions and Dispositions
As investors look to communities and portfolios for potential investment, revenue management plays a vital role in providing historical data, current pricing trends and forecasted rental potential — all of which have a direct impact on asset valuation. After the sale, revenue management is also providing business intelligence to value-add veterans who rely on rev-man to decide when to pull the trigger on big spends or when it’s best to keep renovations simple.
Extending Revenue Management to Non-Conventional Multifamily
From affordable communities to student housing and investment in tertiary markets, diversification of portfolios continues to be a high priority among investors as well as owner/operators. Revenue management strategists and experts will discuss how a revenue management platform can improve overall pricing and revenue growth across a diverse portfolio, moving beyond core pricing and finding success with even one-off and smaller property investments and portfolios.
Revenue Management and the Institutional Investor
Institutional investors including pension funds, real estate equity firms, insurance companies and sovereign wealth funds are on a fast track to a full embrace of revenue management. Learn how asset valuators are following the vanguard examples in the REIT world of relying on revenue management for critical buy/sell/hold decisions, and why revenue management is becoming a de facto operations technology for investors seeking premium cash flow and yield. Hear from a panel of analysts, investors and the REITs themselves on how revenue management has made the difference on Wall Street’s bottom line.
Renewal Best Practices 2012
Traditional business practice holds that a retained customer is the cheapest customer to find. With escalating rents in an up market, operators can be challenged by the competing demands of optimizing revenue and providing a welcoming environment for renewing residents. This panel will deliver and discuss with the audience best practices in renewal pricing delivery and customer knowledge. They will present case studies of the art of maximizing asset-level rents even if renewals are higher than average.
Career Development: Highest and Best Use of the Revenue Analyst
As revenue management widens its application into marketing, budgeting, and overall corporate strategy, hear senior executives discuss the role and future of the pricing manager, and how to leverage their developing skills into larger roles within their organizations and the industry. Is revenue management primarily a marketing skill? Is the business intelligence role meaningful and indeed even critical to most multifamily organizations? What additional skills development and experience do analysts need to become general operational specialists and ally themselves to the C-level cause?
New Revenue Management Products, Services and Companies
We’ll keep the industry’s innovators on the bleeding edge with a series of quick presentations about new products and companies - delivered by the brains behind the innovation. From ”lightweight” RM systems to consulting services to business intelligence ideas, these quick bites will whet appetites for more information about the next wave of innovation in the space. Each presentation will be limited to 8 minutes to keep the discussion moving.
Matching Amenities: Micro Supply to Micro Demand
From super-luxury core to garden-style walk-up, how are progressive pricing managers matching amenities to the market segment. What are the consumer drivers at the submarket level that can justify amenity investment, and how can asset managers use amenities as a customer service and product enhancement to better influence demand? Open up the box mentality surrounding asset amenities to gain a deeper and more profitable understanding of how sub market specific customer preferences can create demand.
Predictive Analytics and Business Intelligence
Is your organization ready to find out more about customers and business and use predictive analytics to drive corporate practice and strategy? From keyword-buying strategies to demand modeling to energy usage, this session will move beyond revenue management and outline the potential of predictive modeling to enhance the effectiveness of your pricing, demand, marketing, and operational components. Not just for gear heads, this numbers crunching session will highlight the scalability of current and future applications of analytics and forecasting to apartment revenue growth, marketing, and operations, and provide insight into why and when corporate decision makers green light new revenue programs and opportunities.
The Psychology of Price
Why do consumers love prices that include the number nine? Will moderately priced apartment units sell better if they are positioned adjacent to luxury units? Learn how apartment shoppers are psychologically motivated by the promise of deal and value, and how merchandising and manipulation of price might itself become a demand driver and reliable input to revenue management. Don’t miss this insightful look in the mind of consumers on math. We’re 99.99% sure you’ll love it.
Wild Card: Ancillary Revenue Programs
More money appeals to the base nature in every pricing professional, operations manager, and multifamily executive leadership. Learn how to accelerate rent collections simply by reminding residents that rent is due. From trash pick up to bad debt improvement ideas to common area space rental we’re showcasing a handful of ancillary revenue ideas that boost NOI and bring in additional cash-flow beyond apartment pricing and base rents and renewals.
Implementation and Culture Change
As more and more multifamily firms sign on to revenue management, progressive adopters are pushing the beta-test almost into redundancy, revealing successes with full-portfolio rollouts in a matter of months, if not weeks. There is a deeper knowledge now about driving culture change as a business practice as more companies get comfortable with being innovative, and revenue management is just one example of that. Reinvigorate your practice and learn how best-in-class implementation leads to results with training, resident-facing communications and renewals.