Creating Your Future Revenue Streams
2017 and 2018 were the best years for rental property investors. The best ever market for rental property owners. In 2019, it still looks promising with plenty of rental properties, low unemployment, and the economy performing well.
It’s rosy now, but there’s plenty of threats that will lower your occupancy rates and reduce owner ROI. Rents are trending downward and vacancies are rising. And big property management companies are grabbing up more properties. One way to stay ahead of all threats is to maximize your marketing — because a continuous stream of tenant leads and property management leads trumps all problems.
Like farmers planting seed in the spring, online marketing predicts what your business will harvest
Of course, you may have heard that online marketing is dead. They say the market is too congested, ads too expensive, and SEO and content not really effective. They suggest that the new marketing is via product improvement and promotion within your products and services. But with no audience, no actual customers and prospects, your “new marketing” has no reach — no prospects.
Owner and Investors are Searching for Property Management Services
Prospects are out there looking for you but are they finding your company?
For example, if a landlord is needing your services for his/her buildings, they’ll search on Google. Google has the lion’s share of Internet traffic – and good leads — active customers seeking services and information. Everyone uses Google even if they have a product or service provider in mind. It’s an expectation everyone has of Google search — it helps us all learn something and make better decisions, and even purchase.
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Let’s say they do a search for property management company, Los Angeles.
You’ll see a mix of paid ad placements and the natural organic listings in your search results. For instance, notice the nice visibility TGNpropertymanagement.com has here. They have a Google maps business placement and a regular organic ranking too. Very nice, and they don’t have to pay for anything!
Google has credibility and trust with its users and you get to leverage that. So searchers view these property management companies they see listed as relevant and trustworthy. That’s a nice branding boost.
The Google maps service even shows where they’re located. So convenient. Google pipes these leads forward to these companies. They receive active, eager prospects right to their door at a key point in that person’s search for a property management solution. That’s why advertisers pay up to $30 per click for these top of page Google Ads spots.
Prospects Won’t Call You Unless They Can Find You
Awareness, brand messaging, engagement, and incentives are part of a winning business strategy. That’s how a product or brand with mediocre quality can actually capture the market. And, these companies can boast of their superior quality and value in the market! The audience tends to believe whatever they’re told by whoever is visible. Seeing is believing.
Using online marketing effectively a get your message to your clients/tenants is vital for success in 2019.
Property Management Firms Don’t do Marketing
Competitors are focusing on your weaknesses and making themselves look better. Smart property managers spend 20% of revenue on marketing.
Walkins, phone inquiries, and word of mouth still exist, but increasingly these leads come from digital media (Google, Facebook, Linkedin, Bing, Yelp, Twitter, apps) via mobile smartphones. Get your company positioned online and word of mouth will blossom.
Your Online Property Management Business Marketing Plan
Check out our post on property management leads to see what packaged lead gen services the best property managers are using. Most leads come from Google, however for property management leads, Linkedin and Facebook can reach tenants, landlords, investors and more. Yelp offers advertising services too yet they get most of them via search engines. Alternatively, and perhaps better, is doing your own online marketing.
6 Easy Steps to Getting Visible Online
Here’s a quick list of must-do’s:
- create and optimize your website (ensure your marketing pages communicate your services and value proposition clearly and make it easy for them to contact you)
- create helpful, relevant blog posts (this is information and events that excite your audience)
- setup and use your social media accounts – engage with customers and on Facebook (have some fun and connect to them as people)
- advertise on Facebook, Linkedin and Google (they have very well targeted reach to landlords, tenants, and investors)
- offer incentives so visitors will provide their email contact info so you can reach them
- use an analytics solution to keep track of where your website visitors are coming from and which sources give you high quality leads.
A local web design firm can set you up with a usable website and help setting up social media accounts. From there, you can manage posting news, and other information your tenants/clients are interested in. This keeps you top of mind and makes you look accessible.
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If you’re looking to dominate your property management market, well, then you’ll need some help from professional marketers. Yes, it’s competitive, but never overrate the possibilities.
Whichever route you take, you’re putting your property management firm on the road to sustainable success. Attract the right customers and the rest will take care of itself.
See also: Property Management Software | California Housing Market | Best Cities in California | US Rental Market | Cloud Property Management Solution | Best Multifamily Property to Buy | Multifamily Investment | Multifamily Property Report | Tenant Lease Retention | What Renters Want | How to Make Tenants Happy | Property Management Leads | Oakland Housing Market 2019 | San Francisco Housing Predictions | Furnished Apartments | Phoenix Housing Market Predictions 2019 | Las Vegas Housing Market 2019 | Property Management Companies | Property Management Apps | Landlord Apps Apple | 2019 Rental Housing Market | What is Proptech? | Property Management Research | Cloud Property Management Solution