Growing your property management business requires that you use several different marketing strategies for growth. If you put all of your marketing dollars in one basket, you’ll reach the same potential audience over and over again, leaving a large number of prospective landlords and investors completely unaware of who you are, what you do, and how you can solve their problems.
Crafting strategic marketing and advertising strategies is still fairly new to property managers. At Fourandhalf, we’ve spent the last few years helping professionals in this industry understand that there are a lot of opportunities out there for new business, and that you have to know how to reach those audiences if you want to increase the number of homes, doors, units and owners that your company is currently managing.
We’re making progress.
Those of you that focus on growth and success understand the importance of marketing your property management services. You understand the role that a strong sales process plays in effective marketing, and you know that the key to attracting and retaining customers is outstanding customer service.
Now that you’re comfortable with the idea of marketing, and you understand that it’s absolutely critical to property management growth, we want to finesse the concept and show you how important it is to approach your marketing plans from a number of different angles.
We want to help you grow through your website, your AdWords campaigns, and even through direct mail and on Facebook, all while maintaining a consistent brand identity and focusing on educational content marketing.
We have invested a lot of time and resources in studying websites. Specifically, we’ve looked at how you can make sure your website is producing valid owner and investor leads. Our formula is already working for a number of clients who are using their websites to make an outstanding first impression, showcase relevant content, and gather contact information for potential property management clients.
First impressions are crucial.
When someone clicks on your site to look for property management services, it needs to be modern, updated and purposeful.
Owners and investors need to immediately see, based on your website, that you’re a professional who can provide a level of value and service that no one else can.
If your website is old and run down, owners will worry that their properties will look the same way under your management. Show them the magic you can perform. Use your website to establish yourself as a leading company with extremely high standards.
Use your website to show prospective clients that you’re helping to innovate and improve the industry. They want information and they want assurances. Your website must provide both.
Content is still, and always will be, KING.
Whether you’re trying to reach accidental landlords, experienced investors, associations or a combination of those audiences, your content has to mean something to them.
Good content demonstrates knowledge and authority. You use your videos and blogs and other content to establish trust. Your blogs address their concerns, such as tenants who don’t pay on time or the best areas for new investors to buy.
Effective content gives prospective clients a reason to learn more about you. It takes them a few steps closer to signing that management agreement.
Make it easy for them to provide their contact information.
A majority of property management websites have a single contact us page where people can fill out a form or ask a question.
Why only one page?
Give them the opportunity to fill out that form at multiple points on your website. Don’t send them searching for other pages. Let them type in their phone numbers and email addresses right after they’ve read a review or watched a video or seen your pricing structure.
Provide a contact us form on your owner page or your services page. Don’t leave it dangling over there on the contact us page and nowhere else. You want an opportunity to gather information on every page.
Your website must do these three things to attract new owner leads and help you grow your business:
• Make a great first impression.
• Provide the content the people want.
• Make it easy for prospects to reach out.
This is the first step in an effective marketing campaign. Without a great website, it’s hard to win new business.
AdWords helps you generate owner leads, especially if you’re not showing up on the first page of Google in organic or local searches. A successful AdWords campaign requires a five specific things.
1. Content (Again)
Just like with your website, content must be targeted to the specific owners or investors you plan to attract. AdWords content must have an enticing hook so owners are compelled to click on your ad. After they click, you want them to answer multiple Calls to Action (CTAs). Include strong value propositions and show how your company stands apart from all the others.
Don’t forget a good ad extension. It helps your Google quality score, so mention company highlights and keep it simple.
2. Monitor Keywords
Analyze your keywords daily so you know which get the most clicks. You want owner leads. These are far more important than vendors or tenants, so keep that in mind as you’re selecting keywords.
Not only do you need a list of keywords that are working; you also need a negative keyword list. Keep that list consistently updated so you’re optimized fully for valid owner leads.
3. Create a Call Tracking Number
A call tracking number allows you to track the success of your AdWords campaign. It also lets you know which calls are coming from your ad.
When you get an AdWords lead, make sure you answer that phone immediately. Don’t give the prospect a chance to move onto another company. Set up a caller ID so you know when you’re getting a lead. Prepare to answer those calls.
Answering the call on the second or third ring is ideal. It makes you look responsive, and there’s no guarantee a lead will call you back or even leave a message.
4. Develop a Landing Page
Directing AdWords traffic to a landing page rather than your website is the best course of action because they help with ROI. Landing pages are value-driven and serve a single purpose. There are no distractions, and it’s a direct and intentional way to bring in new business.
You’ll also reduce your website’s bounce rate when you use a landing page.
Landing pages capture and convert leads.
5. Choosing a Budget for Your Market
Property management companies are always concerned about budgeting, and we get it.
The market you’re operating in really determines the amount of money you need to invest in an AdWords campaign. Google also has a unique formula for using up your budget. They take your monthly advertising spend and break it down into a daily budget.
This means you’ll need to allocate enough money to get through the full month. You don’t want to use up all your allotted dollars early in the day because that just leaves extra leverage and potential leads for your competition.
Choosing a budget can be complicated and often requires collecting data about your property management market. Our experience with AdWords campaigns can help, and our experience as Google-certified partners is also a good way to maximize the leads you earn from AdWords.
Sometimes, they’re called postcard campaigns or simply direct mail. As a digital marketing company, you might wonder why we believe so strongly in the power of paper marketing through the mail. Well, we have learned that this strategy can help you earn more business from landlords and investors, and for relatively little marketing money.
We have six steps that can form an outline for how you should proceed when you’re interested in a direct mail campaign. This has been wildly successful for a lot of property management companies we work with, especially when it’s a part of a larger marketing strategy.
When growth is your objective, include a direct mail campaign.
Step One: Examine your List Quality and Access Good Data
You need to target your audience because you can have the nicest mailers in your market, but if you’re sending them to people who aren’t in your area or don’t own rental homes, you’re wasting your time and money. You need good data.
An excellent data management company will have filters that allow you to target the right landlords and investors in the zip codes you plan to target. It’s important to have a clean mailing list. You want the proper addresses for the owners you’re targeting. If you mail a postcard to the rental property, they will never see your materials.
Don’t be tempted to use free mailing lists. Even the lists you get from title companies aren’t going to work. This will discourage you and make you feel like your direct mail campaign isn’t working when in fact, the problem is not the campaign but the data.
Step Two: Establish a Schedule for Mailing Frequency
Let’s consider the numbers. You’ll need to send out between 3,000 and 5,000 postcards just to get a large enough sample size for the results you desire.
It’s important to plan for at least six or seven, even eight, mailings. When you send out the first postcard, you might receive a call or two. After the second postcard, you might get a handful of calls. The third mailing will see more traction, and by the time you send out the fourth or fifth postcard, the ROI will be measurable.
It’s best to send out a mailing five times per month. Then, follow up. Send quarterly mailings to your entire list.
Step Three: What Are Your Value Propositions?
A clear Call to Action (CTA) is needed on every postcard you send. Start with an attention-grabbing picture or image. It doesn’t have to be the usual photograph of a house or a set of keys. Be creative. Get your prospect’s attention.
The text of your postcard must speak to a single and serious pain point. Demonstrate what you can do to heal that pain point or solve that problem. Focus on one issue in every mailing. You cannot include all of your services on the back of a postcard. Instead, create a clean card that tells landlords and investors what you will do for them.
Step Four: Create Continuity with Your Postcards
Continuity and consistency are critical in a direct mail campaign. Your postcard must say the same thing that your website says and your social media pages. Landing pages must be consistent. Everything has to match.
If your postcard is gorgeous and modern and well-designed but then your website looks like it has not been updated in 20 years, you’re not going to maintain that continuity or consistency. It’s going to be a problem for your conversion rate.
Represent your brand consistently on all digital channels, and that includes your reviews and social media platforms. Make sure your phone number and URL are easily tracked.
Step Five: Pay Attention to Multi-Channel Marketing
If you really want to maximize the ROI on your direct mail campaign, we suggest you reach your audience on Facebook and in AdWords with the same offers, images, value propositions and continuity. Connect all of your messages, and make sure you’re speaking with one voice across each marketing channel you use. This will provide you with better outcomes, and you’ll continue to stand out for all the landlords and investors you’re hoping to attract.
Step Six: Remember Your ROI and Tracking
Finally, a system to track phone calls, website visits, and other metrics is absolutely essential. You have to know how to measure whether this direct mail campaign is working.
To effectively grow your property management business, you need to invest in marketing. You need to believe in it. And, you need to diversify the way you approach it.
Contact us at Fourandhalf, and we’ll help you get the growth you’re seeking.