Marketing is the engine that fuels the growth of your property management business. To that end, it’s critical that you take the time to define your marketing plan and to ensure you are allocating your marketing dollars efficiently and effectively in order to secure new properties for your services.
There are many options for allocating your marketing dollars. Do you take the traditional route of newspaper ads or go online with Facebook? We’ve seen over the past couple years how valuable online visibility can be, however, it’s always important to have a balanced, diversified approach in order to maximize your marketing return on investment (ROI).
Here are nine suggestions for where to spend your marketing dollars in 2013:
1. Content Marketing
Content marketing involves the delivery of high-quality information to your most important audiences. Build out your website, write articles, create a blog, produce videos, hold webinars, etc. to establish your credibility and authority in the eyes of your property owner audience.
One of the benefits of content marketing is that more prospective clients can find you online in the case that you optimize your content for the search engines. Be sure to include a few targeted keywords in your content and talk to a Search Engine Optimization (SEO) pro to learn about all that you can be doing to raise the visibility of your content online.
Start building a relationship with relevant members of the media in order to raise your profile and to be recognized as an authority in the industry. You can target industry and local newspapers, as well as larger magazines, websites and influential bloggers. Offer them valuable information that they will want to pass along to their audience. If you make their jobs easier, they may start looking to you as a reliable resource.
4. Print Advertising
Although there’s a lot of talk of the death of print publications, the reality is that newspapers still represent a $30 billion+ industry. Be selective in your print advertising, though. For example, Sunday papers are proving to be special performers for newspapers, representing 35% to 50% of advertising revenue for many publications.
5. Email Newsletter
Distribute a regular email newsletter to your property owner clients. Keep them up-to-date on all that you are doing to better manage their properties.
6. Online Reviews
A remarkable 62.5% of renters would post a positive comment online if asked. So go ahead and ask your tenants to post their reviews to Yelp, Citysearch and other review sites to help build your credibility and trustworthiness.
7. Referral Program
Building owners tend to know other building owners. Start a referral program to encourage more word of mouth about your property management business.
8. Social Media
Facebook, Twitter and Pinterest may not necessarily be the way you’ll land your next property management client, however, chances are your prospective clients will check out your social media profiles when considering you vs. competitors. Being current and up-to-date with your social marketing gives them greater assurance that you are on top of the latest technologies and trends. It also gives you the opportunity to show off impressive photos of the properties under your management.
9. Local Marketing
Sponsor or host local events in your most important target cities and towns to gain greater visibility among important community members.
Your marketing is what delivers more clients and greater revenue for your property management business. Remember to develop a diversified plan in order to maximize your results!