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Top Marketing Strategies To Grow Your Property Management Business
In a competitive business such as property management, a company needs to employ strategic marketing methods to thrive in the industry.
The company should know how to attract its target market and potential market.
If your company has limited resources, it’s even more essential to use the most effective strategies.
Business growth and income are closely tied to knowing the right marketing strategy to deploy in a given scenario.
Every marketing manager must be astute enough to be aware of what a situation warrants.
Here are some marketing strategies you can adopt in your property management business:
Don’t stop marketing to your existing customer base
When you’ve successfully closed deals with clients, it’s easy to think that you now need to sell property management services to new clients.
The reality is finding a new customer is a more demanding task than tapping your existing list of clientele.
Hunting for new customers requires a longer time frame, and it’s also more expensive. This is because building business trust takes a while.
The best way, therefore, is to continue cultivating your relationship with your clients. Stay in contact after a successful sale and open your lines of communication.
Make sure you avoid being pushy though. Just be consistent in providing regular property management service updates.
Since your current customer base has placed their trust in you, it will be easier to upsell or cross-sell products/ services.
Upselling, as a property manager, is offering your client an upgrade or premium property services they may need.
Cross-selling means offering other products or services your client may need.
For example, you may upsell more superior property management plans such as replacing their Silver Plan with a Platinum Plan.
For cross-selling, you may ask a client to buy a renter’s insurance plan that your company has an affiliation with.
Consider using paid ads as a marketing tool
Paid ads are more productive and have a wider reach compared to other traditional marketing advertising techniques. This is because Google ads target their aim better.
They focus on potential customers currently looking for property management websites.
The ads have more specific features like narrowing the target group to those living in a particular area.
This is more efficient compared to organic advertising that has an unclear plan where to concentrate.
The best thing about paid Google ads is it requires you to pay attention to a goal. This makes it easier to achieve.
So if your goal is to attract traffic to your property management website, you can then track down page views using Google Analytics that you must link with your website.
Google ads direct potential customers to the landing page of your property management website, and you can monitor the visits from your prospects and assess the level of interest.
You can now plan a marketing campaign building on the data that Google ads have brought in.
Take advantage of social media marketing
The number of social media users and influencers continue to swell up over time. Businesses then have taken to marketing digitally on several platforms.
The first task is to know your target market so you can use the most effective way to reach them.
What are their ages and income level? Where are they located? What are their needs that you can provide?
Which social media platforms do they frequently use?
There are different social media platforms, and your next task is to learn how to use them as tools to reach your business goals.
Is your plan to drive traffic to your website? Is it to increase engagement and find new leads?
Or Is it to raise awareness of your company’s services?
Having your goals laid out makes it easier for you to figure out what kind of content you want to share, where you will share, and when you will share.
Once you have concrete answers to these crucial questions, then you can proceed to execute your strategies on social media.
Create short information-driven videos
Since people’s attention spans have dwindled, offering short videos is a great strategy to capture their interest.
You can post on different social media platforms or include it in your blog content.
The videos should offer more information about your property management business. You can answer common questions from interested prospects.
Your videos can offer support information and highlight your service offerings (especially those that your competition does not provide).
If you keep getting questions about a particular topic, then you can also create a video focusing on that query alone.
Educational videos are all about positioning your property management company as an authority in the industry.
It nurtures trust and encourages prospects to seek out more information.
Partner with local businesses to broaden your reach
Staying focused within the confines of the property management sector alone can mean opportunity costs.
It’s best to familiarize yourself with affiliate marketing.
You’ll be working with local businesses so they can aid in promoting your property management company.
For every successful conversion or sales generation, you pay these businesses a commission.
They can assist with sales lead generation by boosting traffic to your property management website.
These local businesses are known as affiliates.
It’s been proven that affiliate marketing is an effective strategy for generating ROI.
Affiliate marketing works in broadening your market reach since your affiliates’ clients or prospects can also become your sales leads in the process.
Build an affiliate program to draw closer to potential clients.
Property management growth depends on your marketing efforts. So you need to devise and deploy a variety of top marketing strategies.
Don’t just use old and routine marketing methods. Try different things and evaluate the results.
Who knows you might be pleasantly surprised in the end.
Marketing is an exciting way to respond to the needs of your customers.
Great marketing will reward a company with new customers, increased income, and business growth.
It should be a consistent priority in your property management company.