5 Ways Property Management Companies Can Improve Their Marketing.
Property management can be a challenging business. Everyone from tenants to management companies has a role to play when it comes to increasing the overall value of a property portfolio. Marketing to potential customers that are a good fit for a Property management company’s services can be daunting.
Additionally, as the number of apartment complexes and homeowners seeking property management services increases, so do the number of companies that compete with your business offerings. So, how do you stand out?
If you’re a property management business owner wondering where to start, we’ve chosen 5 quick wins to help launch your marketing and get things started.
1. Create a strong and consistent brand.
If you’re going to stand out in customers’ minds, it makes sense to start with brand development. Unfortunately, many property management companies try to skip or skimp on this step and think a business card and brochure will carry the day, but they won’t.
Property Management companies must invest in a clear and consistent brand image that communicates their unique value and connects with potential customers. This includes a well-designed logo, website, marketing collateral, and a social media presence that reflects their brand identity and messaging. The brand image is also more than eye candy. It relates operationally to how well clients are served and how employees accomplish the company’s brand promise. All of these contribute to your company’s brand perception.
Begin with a strong brand, market the heck out of it, and provide exceptional customer service.
2. Know your audience and target their needs.
Property Management companies ought to know who their customers are. Your website, social media, and email marketing platforms all have mechanisms to identify who is visiting your website. Use these metrics to focus on marketing that appeals to the problems of customer demographics, interests, and behaviors. The more relevant your advertising and marketing are, the greater the chance for developing a business relationship or a sales conversion. If using analytics tools is uncomfortable, look for a marketing partner to handle it. You’ll save time and effort, and it’ll free you to do what you know best.
3. Make it simple to find your company.
This seems like a no-brainer, yet so many Property Management companies don’t care about it or don’t w ant to spend money on their online “find-ability.” Whether it’s your web developer or an SEO specialist, you should ensure your website is optimized for search engines (SEO) to have the best opportunity to show up at the top of search engine results for relevant keywords.
But what’s involved in the process?
It generally involves customizing your website content to answer visitors’ most asked questions, ensuring your website is mobile-friendly, and building quality backlinks from reputable companies to your website. It takes time to research and sort out the basics, but worth the investment.
4. Use high-quality photography.
We get it. Hiring a photographer is sometimes very expensive, but Property Management companies must use high-quality photos and videos to showcase their properties and amenities. This helps renters to visualize themselves living in the space and increases their desire to schedule a viewing. In addition, it helps apartment complexes looking for property management services to see how well you might service their properties.
5. Leverage word-of-mouth referrals.
Suppose you want to fill property vacancies or improve retention for managed multifamily properties. In that case, it pays to encourage satisfied clients to leave positive reviews on social media and online review sites like Yelp, Google My Business, and Facebook. Positive testimonials generate leads and increase the company’s visibility and credibility online. Additionally, word-of-mouth referrals gain the added trust factor apartment hunters value tremendously.
Creating a referral program that rewards current clients for referring new business, offering a discount on rent or property management fees for each successful referral, or providing a gift card to a local restaurant or store are great motivators for good word-of-mouth recommendations. Below are other ways to get people to share.
- Be a good citizen – Be active in the community and sponsor local sports teams, charities, or organizations. This can help build goodwill and generate positive word-of-mouth advertising within the community.
- Network with the pros – Develop relationships with local real estate agents, contractors, and other industry professionals who can refer new businesses to the company. Consider offering referral bonuses or partnering on joint marketing initiatives.
- Sponsor events and meetups – Host appreciation events or industry meetups to encourage clients and associates to refer their friends and family.
- Get extraordinary – Provide exceptional customer service and go above and beyond to address client needs and concerns. Satisfied clients are likelier to recommend the company to others and generate positive word-of-mouth advertising.
- Share your expertise – Create informative and educational content, such as blog posts, podcasts, or social media updates, that provide helpful tips and insights on property management. This can position your company as a thought leader and generate positive word-of-mouth advertising among clients and industry professionals.
Many property management companies need to market their services online and offline effectively. Unfortunately, a lack of understanding of the digital landscape and limited knowledge of SEO tends to prevent significant gains. This article was designed to be introductory and provide some starting points to consider. If you’re ready to transform how your company looks at marketing and advertising online, consider a firm like Cooperata for a consultation to make the best use of marketing time and finances and take your efforts to the next level.