Marketing Strategies for Property Managers
To run an effective property management business, you need a variety of skills. Key among these skills is having great marketing strategies. An effective marketing strategy can sort the difference between success and failure for your company.
Below are 8 marketing strategies for property managers.
1. Create an all-out assault plan for listing your rental property
The internet has made it quick and easy to list and market your rental property. We have categorized these into 1) short-term rentals, 2) social resources, 3) organizational and corporate resources, 4) “old school” resources, and 5) new resources.
- Short-Term Rental Resources
- Social Resources
- Google+ Hangouts
- Organizational and corporate resources
- Veteran administration
- Non-profit organizations
- Section 8
- “Old School” Resources
- Yard signs
- Newspaper ads
- Referrals from other landlords and investors
- Referrals from friends
- Referrals from tenants
- New Resources
2. Invest in content marketing
Property management business is a saturated industry. There are over 250,000 property management companies in the U.S. alone. To stand out from the rest, position your management company as an authority on the subject of managing rental properties.
These are some ideas for content marketing for property management companies:
- Make sure your content addresses a problem and offers a solution.
- Go into detail about the many virtues of the community or the surrounding area.
- Make sure the rules and covenants of the association are kept in residents’ minds.
- Offer helpful and informative tips on anything from home maintenance to lawn care.
- Keep residents informed via social media or blog updates concerning community events.
- Showcase expertise and authority by commenting on trends of the real estate industry in your location or on changes in HOA legislation.
3. Understand the basics of search engine optimization
SEO is a method of advertising for search engines using keywords. A keyword may be a word or a phrase which prospective clients use when they search for property management services on the web. By showing up in Google, your prospective clients will find your company. Google Keyword Planner is one of the most important tools for keyword research.
Here are some SEO tips to get you started:
- Use local keywords on your property management website. When property owners are looking for a company to manage their investment they’re looking at local listings. An example of a keyword phrase is “Florida rental company.”
- Create a blog. A blog gives you opportunities to index your site for more keywords. Fresh content also makes your website up-to-date.
- Be sociable. Social media and SEO go hand-in-hand. Social media sharing provides an opportunity for more people to link to your site and for your website to get more followers.
- Be consistent. Being consistent helps you gain more trust in the eyes of search engines. Make sure that the way you write your contact information on your home page is the same as the way it shows up in Google’s local search pages.
- Analyze your results and optimize more. Use Google Analytics to understand more about your website and learn how people are behaving once they reach your website.
4. Make use of social media
Social media is a goldmine of customer leads. In the online world, social media is one of the best ways to promote your brand, build authority and trust, and increase your visibility.
With that in mind, as a property manager, you need to design an effective social media marketing strategy.
5. Understand the location
Location matters because it defines which marketing strategy to use. For instance, Albuquerque is a reasonable place to acquire customers. Whereas, areas like Atlanta and Phoenix are expensive, and Portland is somewhere in between.
6. Get to know the competition
Find out what your competition is doing. When analyzing your competition, ask the following questions:
- Which customer segments are they targeting?
- How active are they on YouTube?
- How effective is their website or blog content?
- How active are they on social media?
- What is your competition doing well in the search engine arena?
These questions help determine what works and what doesn’t within your market.
7. Connect with the community
Connecting with the community you serve is one of the most overlooked ways to market your business. Have a booth at a local community festival or sponsor an activity at a local school.
By doing this, people see that your property management company cares about the community. You also make your company become a trusted source of rental properties and rental management services within that community.
8. Word of mouth
Word of mouth is still king. If you aren’t encouraging your clients to refer their friends, you could be missing out on a major opportunity.
Here’s how you can use word of mouth to market your property management company:
- By telling friends and family.
- Using newsletters. A newsletter is a great way to stay in touch with your current and prospective clients. You can share it on Twitter and Facebook. You can also post it to your website.
- By running a contest on social media. This works great especially if you already have a big following. The contest can be as simple as asking people to share a picture showing a specific activity happening on your rental property.
- By finding and sharing powerful client testimonials. It can be as simple as a video interview with happy residents or it can be a few sentences on the homepage of your property management website.
These are just some of the best marketing strategies that property managers can use to increase their odds of success. Regardless of the ones you choose to focus on, proper planning is essential.
We hope you found the promoted post to be as entertaining and informative as we did!