Whether you are new to property management or have been around for a while, there reaches a point where you need to use new marketing channels in order to grow your business.
Integrating effective marketing methods can not only help your business stand out from the local competition but can also be invaluable when it comes to attracting consistent new leads.
I've put together some of the different marketing strategies available for property management companies looking to grow their business.
1. Search Engine Marketing
Search Engine Marketing is basically a type of paid advertising that involves the use of search engines to advertise your business.
Google ads are by many measures the most popular paid search platform used by search marketers. Property managers can leverage the advertising algorithm that Google provides to convert the right kind of customers for their business.
How does it work?
You begin by setting the budget, for a particular keyword, you’re willing to spend to acquire a visitor to your landing page. Every time they click on your ad you'll be charged a fee.
For example, depending on the competition for that particular keyword, Google may suggest to you a Cost Per Click (CPC) of, say, $3. So, for every customer that clicks on your ad, you’ll be charged $3 by Google.
When done the right way, CPC can be very effective. You are reaching people as they are searching for property management companies in the area you service.
Referrals are an easy way to guarantee you're regularly bringing in more prospects. It is your responsibility as a property manager to let your existing customers know that you are actively seeking new management accounts.
You can use the internet to send them subtle reminders.
For example, you can send your current clients a monthly newsletter. In the email, you can remind them about your referral program. It's generally good practice to provide some sort of incentive to your existing clients for referring you, new customers.
A newsletter not only keeps your existing customers informed about what is happening with their business but will also give you an opportunity to stay on your customers' mind in case they run into someone looking for a property manager.
3. Search Engine Optimization
Simply put, SEO is the process of increasing the quality and quantity of traffic to your website. You achieve this by assisting search engines to better understand your web pages. The better they understand your website, the higher up they will display your company's website in their search engine results. The higher you show up in search engine results, the more leads your website will bring in.
Some of the ways you can improve the SEO of your property management website include:
1.) Improving your website’s speed.
Google ranks websites that load faster, higher in Search Engine Results Pages (SERPs). Ranking higher for keywords such as "property management + your city", "rental management + your city", etc. means that people who are actively looking for property management services will find your company. You can use Google's Page Speed Insights to determine your website's loading speed.
2.) Optimizing your pages for keywords
An SEO expert will perform keyword research to find out what people are searching for when looking for property management services in your local area. They'll then optimize the content on your website so that Google can clearly understand what keywords are relevant to your business. This will help improve rankings for keywords that potential customers are using when searching for your services.
3.) Building Links From Relevant Websites
One of the biggest factors in ranking your property management website is obtaining backlinks from relevant websites. You should look to acquire links from other local businesses, websites that are relevant to the property management industry, and local directories.
4.) Content Marketing
Having useful content should be at the core of every marketing campaign. A property manager should not just pitch their services and product, but should also be in the habit of providing useful and relevant content to both existing and prospective customers. Your content should aim to assist them to find solutions to their problems.
Having truly helpful content on your website will help position you as an industry expert. You have a higher chance of converting a prospect if they find the content you provide on your website to be effective in addressing the issues they're facing.
5. Social Media Marketing
A property manager needs more than just a Facebook page to have a meaningful presence on social media. Nowadays, more and more businesses are turning away from traditional marketing methods and focusing their efforts on social media to grow their business.
Your property management company should leverage the influence social media has to be the go-to local resource for people looking for rental property education.
Some of the benefits of social media marketing include:
1.) Increased brand awareness.
Running social media advertisements remains one of the most cost-effective ways to market your brand.
2.) More inbound traffic.
Since social media provides a gateway to your website, every person that interacts with your company’s social media account is a lead prospect.
3.) Improved search engine ranking.
Social signals generated through shared content directly impact your website's ranking in search engines. Better rankings lead to consistent new leads for your property management business.
Each of these marketing strategies has proven to be a successful method of acquiring new clients for property management companies. Online marketing is becoming much more effective than traditional marketing and it's important to take advantage of this before your competitors. The earlier you start implementing digital marketing strategies to grow your property management business, the more of a competitive advantage you will have.
Stephen Fox is a digital marketing consultant and co-founder of Upkeep Media. Upkeep Media specializes in working with the real estate industry to improve their organic search, content marketing, Google Ads, and social media marketing.
He also holds a number of online certifications and is a CPA. If you're interested in working with Stephen you can contact him via email at firstname.lastname@example.org.
If you liked this article, subscribe to Rentometer's email newsletter to stay up-to-date on the latest trends in rental housing.