Effective marketing is critical to the overall growth and success of any property management company. Being the best in the business will only get you so far if you’re not also consistently building your brand and promoting your services.
Fortunately, there are many different ways to market yourself as a property manager and stand out from the crowd. From building up an online reputation as a thought leader in the industry to filling market gaps with a thorough competitive analysis, a deliberate approach to property management marketing will help generate quality leads and grow your business.
Here are the top five property management marketing strategies and how to start implementing them today.
Embrace Digital Marketing
If you could only focus on one area of marketing, digital is the biggest bang for your buck.
A fundamental tenet of marketing is meeting your audience where they’re at and, in today’s world, almost all audiences are online. Eighty-five percent of Americans say they go online every single day and nearly a third say they’re online “almost constantly.”
So, embrace digital marketing – that is, marketing that takes place online.
Start by investing in a professionally-designed property management website that includes a compelling copy about your services, a FAQ page, an about page with your mission and values, high-quality images and contact forms. Make sure your website is mobile friendly.
As you build and develop your website, pay special attention to search engine optimization (SEO). That’s how you show up on search engines like Google and make sure potential clients looking for you – or the type of services you offer – can find you.
Social media should also be a part of your digital marketing strategy. Be active and engaged on the platforms where your target audience spends time to build up a following and cultivate relationships.
Be a Thought Leader With Content Marketing
Good content is gold in marketing.
Not only does it help drive traffic to your website, but it also helps you stand out as a thought leader in the property management industry.
Start by thinking about the common questions you get about rental properties or the pain points your clients face. The goal isn’t to aggressively sell your services, but rather to position yourself as a trusted and helpful subject matter expert.
Let’s say, for example, property owners in your portfolio worry about the risk of tenants defaulting on rent – a real concern for many landlords. You could share your insights and experience on how to mitigate this risk, whether that’s outlining tenant screening best practices or highlighting the advantages of guaranteed rental income upfront.
The type of content you create can be anything from blog posts to ebooks to videos to podcasts: the important part is that you share high-quality, relevant information with your audience.
Analyze Your Competition
There’s no denying that the property management industry is competitive.
Arming yourself with information about your competitors can give you great insight into your own strengths and weaknesses. And that can be crucial information toward figuring out how to best position yourself and differentiate your services.
Start by identifying your biggest property management competitors. Consider both direct competitors who are offering similar services and targeting the same rental property owners, as well as indirect competitors.
Compile your research about their offerings, locations, pricing and promotion strategies to get a sense of how you stack up against them. Are they a large company with multiple offices and a large staff? Is there social media presence on point? Do they offer similar property management services but at a cheaper cost?
You don’t need to compete in every area but knowing how your business compares in terms of strengths and weaknesses will better inform your messaging and marketing strategy.
Collaborate With Other Businesses
The flipside to competing against other property management companies is figuring out who you can collaborate with to create an overall better experience for rental property owners in your portfolio.
One way to do this is by working with a business that offers value-added services that you can brand as your own – which are known as white-labeled partnerships. This can be a valuable way of providing additional services and benefits to clients under your own name, without needing to build it yourself from the ground up.
With Steady, for instance, property managers are able to offer property owners rent protection solutions that act as insurance against a tenant defaulting. Both Rent Advance and Owner Benefit Package are seamlessly integrated into your existing solution set and branded as your own.
You can also look to other businesses in your community to collaborate directly with. In fact, you likely already have relationships you could formalize to the benefit of all parties involved.
When something needs major repairs in a property, who do you call for assistance? When it’s the season for landscaping, who do you hire to do the job? Are there certain insurance agencies, cleaning companies or other organizations offering complimentary services that you regularly work with?
Affiliations and partnerships can go a long way in creating a more competitive offering for property owners. Not only can it boost your reach with cross-marketing and two-way referrals, but it means you can provide more value.
Invest in Paid Marketing
No marketing strategy for property management companies would be complete without a mention of paid marketing.
You can accomplish a lot with organic SEO-driven traffic, value-added services and partnerships, but oftentimes the extra boost from paid ads is worth the investment.
Pay-per-click (PPC) advertising, for instance, allows you to target a specific audience based on criteria like location, demographics or keyword search. Likewise, paid advertising on social media platforms like Facebook or Instagram can help get your message in front of the right people and generate leads in a short period of time.
Consider also banner ads – those small, rectangular ads that you see on various web pages. Click on them and you’ll be directed to a specific webpage. This can be an effective way to generate more traffic and leads.
Stand Out By Partnering With Steady
There are many approaches to marketing yourself as a property management company to grow your business and gain new clients.
When you partner with Steady, you can access a whole suite of value-added solutions like Rent Advance, the Owner Benefit Package, real-time legislative updates and quarterly reports that will bolster your marketing messages.
Interested in setting yourself apart from the competition as a Steady partner? Contact us today.