June 16th, 2020
The ultimate property manager’s guide to social media
As the internet continues to make the world smaller, and powerful competitors attempt to muscle their way into your market, the importance of using marketing to stand out has never been greater.
Over the last two decades marketing in the property industry has almost completely switched from traditional (TV, radio, print) to digital (search engine, social media, email). This new world is exciting, but it can also feel overwhelming.
These 12 tips are the perfect place to start.
The first step is setting time aside to plan and evaluate your marketing strategy. Next, you can:
We go in depth into each of these tips and cover actionable steps you can take below.
The first tip is arguably the most important of all. Make time for marketing.
Unless you dedicate time to it, you’ll forever push it down the priority list.
Decide on a time each week or fortnight to focus on marketing. Lock in Monday mornings or Thursday afternoons for your weekly marketing session.
Commit to several marketing KPIs. An example of goals you could focus on include:
Ask yourself: when was the last time you typed a complete URL into your browser?
93% of online experiences now begin with a search engine, which makes a high ranking on Google arguably the most important element of property management marketing. Partner with a search engine optimisation (SEO) expert so that you work on improving your ranking for the most relevant keywords possible.
We go into detail on exactly how to grow your property management business using Google here.
Almost half of all online searches have ‘local intent’, and 88% of consumers who use their smartphone for a local search will visit or call a business within a day.
A subcategory of search engine optimisation, local SEO focuses on making you as Google friendly as possible within your immediate area. You can do so by optimising your Google My Business and Google Maps listings, and ensuring your online presence is mobile-friendly.
Positive reviews on your Google My Business listing help build credibility and trust for your business, so it’s a good idea to have a strategy around building these reviews.
Content is an incredibly effective tool for improving the effectiveness of your marketing. By simply adding a blog to your website you can increase its chances of ranking in search engines by 434%.
Blogs and other forms of content (videos, social media posts, podcasts) also offer you the opportunity to position yourself as a thought-leader – a go-to person in the property management space, and someone on the leading edge of innovation.
It might come more naturally to some than others, but the importance of social media cannot be understated. People want to deal with people, so there’s real power in getting your face in front of customers.
Indeed, a well timed social media post can be the difference between bringing a new customer on board and watching them go elsewhere.
Study the marketing of property managers in your area. What are these other firms doing to capture the attention of potential customers? This is less about copying their successes than it is about identifying their weaknesses. Knowledge is power – you need to know what your competitors are up to in order to outperform them. Perhaps your competitors aren’t ranking well on Google for relevant terms, or don’t offer their customers interesting insights via content.
Quick tip: Subscribe to your competitors email newsletter to stay on the pulse of their marketing and latest updates.
Some questions you could ask yourself when looking at your competitors:
Who are you marketing to?
What does your ideal customer look like?
Develop customer personas to refine your marketing messaging and make it more effective. Humanise these personas by giving them names, ages, professions, hobbies, hopes and dreams, then craft marketing materials that speak to them.
Some other great questions to ask yourself to get to know your target audience include:
Email marketing is every bit as useful now as it was when we were excitedly checking our Hotmail and OzEmail inboxes 20 years ago. In some instances, email has been found to have an ROI of 3800% – i.e. for every $1 you spend, you can get $38 back.
Our top tip: Start sending out a monthly newsletter.
A monthly newsletter full of interesting news and insights is one of the most engaging forms of email marketing at a property manager’s disposal. What you offer up in that newsletter is up to you: perhaps it’s property market news, a selection of new listings, or a dose of fun.
When building your newsletter our advice is to:
Stuck on what to fill your blog, newsletter or social media feed with?
The content creation recipe can be surprisingly simple: write about whatever your clients are asking you about! If you’re getting a lot of questions about rental yields, write about that. If they’re asking about market demand, go with that angle. These are obviously things that your clients want to know, and thus are the ripest of content marketing fruits.
We don’t have to stick to the World Wide Web in our quest for property management marketing success. There’s a lot to be said for shaking hands and making fans, so consider hosting a conference, networking night or even the most casual of Friday get-togethers. Line up some guest speakers, put on a few drinks, and invite potential clients.
These nights can also offer incredible ROI, as companies can earn $12.50 for every dollar invested in face-to-face meetings.
As an inherently local field, your property management firm can get real value from demonstrating that it’s an active part of the community. Consider sponsoring a local non-profit or sports team, or putting your name to a local event. Perhaps there are local businesses whose objectives align with your own – you could partner with home improvement or cleaning businesses, trading contacts and leads without stepping on each other’s toes.
Speaking of which, word of mouth continues to be the most effective form of marketing, because people trust people.
You can turbocharge referrals by offering incentives to those who pass your details onto others. Property investors and landlords tend to talk to each other, so consider offering a free month of property management services for referrals that turn into one-year property management contracts, or something similar.
Another tip would be to ensure you express gratitude to anyone who played a role in helping you land a brand new client. This could then lead to even more clients in future and help build a strong, supportive community.
We go into detail on exactly how to create a property management referral program here.
Modern marketing is such a diverse and far-reaching beast that there’s no single recipe for success. More important is that you simply have a go, and by using these 12 tips as a starting point, you’ll certainly be headed in the right direction.
Liked these tips? Share them with your favourite property manager!
Thanks for reading this blog on the Marketing for Property Management Businesses You might also be interested in:
Let us know your thoughts on our 12 Best Property Management Company Marketing Tips in 2021 by emailing [email protected].