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Common Co-Living

Strategy & Campaign

Mark Chan

For RedScout

July 2019

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Background

The disruptive housing model co-living is a new all-inclusive, community-focused, and flexible form of rental living.

Benefits of co-living include all-inclusive amenities like laundry, cleaning, utilities, WiFi, toiletries, and more. Co-living also allows flexible leasing options such as 3, 6, or month-to-month leases.

Most co-living spaces are community-focused, where buildings organize and fund events and outings.

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Challenge

The co-living space has seen rapid growth through the emergence of new companies and established companies expanding their offerings.

Common, founded in 2015 has established itself as one of the leaders in this space. They currently have 800+ “Commoners”, and operate 26 buildings across 6 major cities including NYC, LA, Seattle, and more.

Task - Establish Common as the first co-living platform to mind.

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70%

Of millenials are willing to consider co-living

30

Is the average age of a “Commoner”

18 - 34

Is the age range of two-thirds of movers to New York City

Diverse

Groups of people live in co-living spaces ranging from entrepreneurs to students to married couples.

39%

Increase in millennials living with housemates

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Perceptual Target

Ashley - “Big City Dreamer”

She is 23, and it’s been a year since she finished college in Denver. She works part-time at a Starbucks and does freelance photography. She doesn’t quite know exactly what she wants to pursue, but she knows she wants to be in New York City.

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How will I move my things?

How will I find roommates?

How will I find an apartment?

Which neighborhood fits me?

Where will I find friends?

Where will I find community?

Do I want a 12 month lease?

How do I deal with brokers?

How do I know I’m getting a good deal?

How will I keep costs predictable?

How will I find work?

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I want to be in New York, but I have no idea what it is.

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Human Truth

I want to be in New York, but I have no idea what it is.

Culture

New York can be exciting but also daunting.

Brand Truth

Common is city living, made better.

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So you can take on the city.

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You didn’t come to New York to argue over a WiFi bill

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Communications Strategy

	Awareness	Consideration	Conversion
Thoughts	Given above average thought into relocating	Seriously considering a move, but logistics seem too complex	Solidified their decision to make the move, looking for next steps
Tactic	OOH Social	Benefit-centric: Paid Search Web Content (video, blog) Social	Personal Engagement Virtual Tours Price Quotes

This is a very basic comms strategy in the format of a basic marketing funnel. There are three stages, awareness, consideration, and conversion. I’ve added a row for thoughts, to give a better understanding of what our perceptual target is thinking in those stages.

In the awareness level, our customer has given thought about moving to another city. Maybe it’s an OOH ad on the LA freeway talking about how bad the traffic is. It could be in collaboration with the NY tourism board?

In the consideration level, our customer has given serious thought into relocating, but they are overwhelmed by the logistics of a move. It seems like so many little things that need to be taken care of before they can enjoy the new city. In this stage, our ads are benefit-centric, focused on showing off Common’s offering. The tactics that will achieve this are paid search, web content, and social content.

Finally at the conversion stage, our customer has solidified their decision to move, and are looking for next steps. At this stage they are probably weighing their options between a traditional move, our platform, and other co-living platforms. At this level, the customers will receive personal engagement like phone calls, personalized emails, text messages. They will be sent quotes and and access more personalized virtual tours like a Common employee giving a personalized tour on FaceTime.

Afraid there are too many hoops you have to jump over, before enjoying the city.

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Thank You

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Common Co-Living

Strategy & Campaign

Mark Chan

July 2019

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Sources

https://www.brickunderground.com/rent/nyc-coliving-spaces-differences-features-prices

https://kndrd.io/coliving-management/generation-y-millennial-coliving

https://www.businesstimes.com.sg/brunch/all-together-now-the-growing-co-living-scene-in-singapore

https://realty.economictimes.indiatimes.com/news/residential/over-70-millennial-willing-to-consider-co-living-spaces-in-top-cities-survey/67274087

https://streeteasy.com/blog/where-do-new-yorkers-move-from-california-texas-sorting/