Property management is a thriving career these days, but it did not initially exist as a distinct profession. The idea of property management originally appeared in the middle of the 19th century, when homeowners often preferred to carry it out themselves. However, by the time the early 20th century rolled around, the function was being filled by individuals referred to as “Caretaker Managers.”
Fast-forward to today; the sector is constantly developing at a regular pace of 2.5% per year, with the total number of property management businesses in the US already nearing 300,000.
On the other hand, spending on annual digital advertising is anticipated to surpass $640 billion by 2024, and it now accounts for 88% of most property managers’ marketing budgets.
These statistics prove that each year, the property management sector gets more competitive, making it essential to spend on effective marketing strategies to open more doors.
If you’re just starting as a property manager, looking for ways to increase the number of high-quality leads, or have been working in the industry for a while but your current marketing plan isn’t producing nearly as many leads as you’d want it to, don’t worry. We’ve got you covered.
Considering that we are now living in a progressively digital age, it is necessary to have an up-to-date and foolproof property management marketing plan in hand to thrive.
Generally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. However, when it comes to an effective property management marketing plan, the idea now revolves around these impressive four pillars: reach, impact, engagement, and conversion.
The most effective approach to do this is via digital marketing. It is more cost-effective, the outcomes can be easily measured, and it opens the doors to new markets.
Before jumping to conclusions, it’s essential to understand that promoting a property management company is not a piece of cake. After all, you aren’t simply selling a product or service; instead, you’re selling the lifestyle that comes along with being in a specific location or neighborhood.
Considering that the internet is flooded with prolonged property management marketing strategies and business plans, you may wonder what makes this article any different.
In the following article, we’ll not only introduce you to some marketing strategies but will also show you how to be up and running by working with an expert in less than a day. Bold claim? Sure it is. But before getting to the nitty-gritty, here’s everything we’ll be covering below.
- The Need for Marketing for Property Managers
- Evolution Property Management Marketing
- Wicked Property Management Marketing Ideas
- Surefire Ways to Generate Leads and Grow Organically
Table of Contents
1. The Need for Marketing for Property Managers
Let’s make it simple for you. Approximately 63,000 queries are conducted on Google every second (yes, you read that right). If we think of all of those people as customers, that’s almost 63,000 individuals making purchases every second.
And this figure will only continue to rise—year after year—which presents a significant potential for your property management companies to boost their marketing strategy and SEO efforts.
When it comes to SEO, there is no such thing as a “one and done” action. It is a continuing process that needs to be examined regularly to ensure that efforts produce the desired outcomes.
Start by performing an audit of your current and prospective clients, even if you have to pay someone to help you. People lie, but statistics don’t.
Secondly, you need to take a more in-depth and analytical look at the online shopping patterns of your clients, in addition to their preferences in terms of what they like and don’t like.
Even if you have a lot of money to spend on this purpose, this does not always guarantee that you’ll make good use of it. If all you’re doing with digital advertising is throwing money at it and hoping for the best, you’re doing it incorrectly—and it’s time to begin working with a marketing expert.
Finally, you must ensure that your property management marketing efforts cover all the bases (reach, impact, engagement, and conversion) while gathering data on possible prospects simultaneously.
It is essential to emphasize your SEO efforts if you want to appear on the first page of a Google search. The higher you rank on SERP, the more visitors your website will get, and that traffic will be converted into more qualified leads—ultimately resulting in signed leases.
2. Evolution of Property Management Marketing
As discussed at the beginning of this article, property management did not initially exist as a distinct profession; however, with time, it evolved. Today, the total number of property management businesses in the United States is already nearing 300,000—the same goes for property management marketing.
Over time, there have been several significant shifts in property management marketing, making Yellow Pages and traditional advertising mediums, such as the radio, things of the past. This shows that no business can thrive in the modern world that does not also engage in digital marketing.
For many property management businesses with well-established marketing strategies developed over many years, digital marketing may seem to be an insurmountable obstacle that must be overcome. Nevertheless, climbing this mountain to reach the peak is essential.
From researching clever strategies to finding the right technology solutions that produce desired outcomes, digital marketing will make your property management business stand out from your competitors, boost conversion rates, improve ROI, and help you establish a foothold in new markets for continuous growth.
Moving forward, we can’t avoid discussing the significance of keywords when it comes to digital marketing. You must have a fundamental understanding of keywords and how using them might boost your property management marketing efforts. So, what exactly are these keywords?
Simply put, keywords are terms potential customers type into search engines like Google to find your company. Determine which search terms have the most bearing on the content of your business. Once specified, start adjusting your marketing strategies by focusing on the most searched terms.
It’s crucial to understand that many foolproof tactics that SEO mavericks used, such as keyword stuffing in written content or hiding keywords in the back-end, are no longer effective—at least in this digital age. This calls for research-based SEO services to help your business gain visibility.
Finally, as you can see, this kind of marketing did not happen overnight. Instead, it has undergone a significant transformation.
The advent of the Industrial Revolution may be traced back to when manufacturing was the primary concern of those involved. After that, it shifted its focus to concentrate more on sales and marketing to help businesses maintain their position at the forefront of the particular industry.
Moving forward, it became evident that just getting consumers’ attention was not enough. As a result, marketing switched its focus to developing genuine relationships with customers—the connection that would keep people satisfied, committed, and engaged.
At long last, we have arrived at the period of a sociological and digital revolution where a growing number of property management businesses are becoming conscious of their operations’ impact on the surrounding environment. Hence, the evolution of marketing all boils down to one thing—change.
As the market constantly shifts and new marketing channels emerge, things that we deem innovative today may be considered archaic tomorrow. Here is where the brilliance of property management marketing comes in—it never stops, and things never remain the same.
3. Wicked Property Management Marketing Ideas
There is not a shred of doubt that successful marketing is essential to the success of any company, but this is particularly true in the property management industry. Due to the intense competition, setting your company apart from others is crucial. However, with the right marketing strategies in place, you can do just that. Use the ideas below as your starting point, and you’re good to go.
Build a Website
Your website is the starting point for every online marketing strategy. After all, when prospective clients enter their query in the search bar, Google usually takes them to the website’s homepage.
Considering that your website in basically your first impression, should you go with just about any website design, or do you need more than that? The answer is quite simple.
Believe it or not, a high-quality design will act as your best salesman and ensure that the prospective clients will have an excellent first impression—generating new leads in the process.
Reach Property Owners via Full Spectrum SEO
According to a recent survey, approximately 93% of home buyers in the United States use search engines like Google and Bing to find online property management company websites.
As each year passes, more and more customers shift their search patterns to include online options; thus, the significance of distinguishing yourself as a property manager online continues to rise.
If you think not many property owners or investors are aware of your business, or when you search “property managers online,” you can’t find your website on the SERP—this is where SEO comes to the rescue to help your business get found in a pool of property managers.
When it comes to search engine optimization, most advertising companies only discuss topics like competitor analysis, keyword research, content production, and on-page optimization.
They don’t go into equally important (and challenging) off-page methods like white-hat link building, content outreach, company listings, and local citations that will genuinely make a difference for your website rankings. Therefore, before hiring an SEO expert, ensure they cover the full SEO spectrum.
Create a Name for Your Business through Reputation Improvement
A good property management company’s reputation opens the door to unlimited opportunities and provides unhindered access to the prospective client base of property owners and investors.
According to these property managers in Las Vegas, most customers claim they trust internet reviews just as much as a personal suggestion from a friend or family member. In addition, others claim that reading favorable comments about a business online makes them trust that company more.
When it comes to property management, property owners and investors consider the experiences and perspectives of your existing customers when deciding whether or not to engage with your business.
This indicates that you should concentrate on maintaining a positive reputation and improving your online ratings on social media channels to get the most out of your marketing efforts.
Begin by maintaining a close check on the reviews posted about your business on various websites. The idea is simple; if you don’t measure it, how will you know if it’s getting better?
On the other hand, negative feedback from renters might appear out of the blue at times. To achieve a sense of equilibrium in this situation, ask satisfied customers to provide positive testimonials.
Leverage Paid Marketing via Google AdWords
When it comes to property management, marketing might sometimes call for added expenses, best described as sponsored marketing. It refers to running paid campaigns on Google or digital platforms to target certain demographics—segmented based on their online presence.
Since you only pay for actual “clicks through” to your property management website from these ads, Google Ads are an excellent way to generate valuable leads.
Simply put, Google AdWords is like a dose of caffeine. When you need a fast boost, you grab a cup of coffee—the same goes for property management leads. Simply put, it is a tactic that gives almost instant visibility. Once the “caffeine wears off” (you stop or pause Google AdWords), this visibility goes back to its pre-boost levels.
Property management marketing ideas may be as simple as posting a customer review or as complex as optimizing keyword searches and working to raise the property’s ranking in search results with full-spectrum SEO.
Always remember that if your property does not appear on the SERP, it will be outdated to a prospective client. When it does, your online presence—from high-quality website design to interactive Google Ads needs to be interactive and up to date.
4. Surefire Ways to Generate Leads and Grow Organically
Most marketers struggle to increase website traffic since there are many ways to get there. Paid advertisements and conventional marketing may give the impression of the best option for short-term success. However, in reality, they are rarely a good strategy for long-term results.
Therefore, if you are looking to generate organic leads for your property management business without a massive budget backing you, here are a few suggestions:
- Use Google Search Console or Keyword Planning Tool for in-depth keyword research.
- Publish regular, consistent, quality content on your blog and share it on social media.
- Create personalized buyer personas so you know who your content is trying to reach.
- Spend some time drilling into your analytics to create compelling conversion points.
- Leverage video in your content for a 53x chance to rank on Google search results.
- Create engaging content for social media, but don’t just stop there…keep sharing!
Although it may seem like the internet is virtually overpopulated with property management companies and businesses, analysts believe the market has not yet realized its full potential.
As property managers continue to leverage this monumental technology, your best bet is to work with a marketing maven like GoodJuJu, making the whole process a breeze.
Remember, the potential for property management marketing is immense, and growing organically and benefiting from the ever-expanding market space is all yours for the taking.
Final Thought
As the internet continues to make the world smaller and international project management companies muscle their way into the American local real-estate market, there has never been a time when it was absolutely necessary to use marketing to differentiate yourself from your competition.
When it comes to working in the property management industry, you, as a property manager, have many plates to keep spinning. Therefore, a consistent approach to property management marketing is essential, whether you’re dealing with multi-family apartment buildings or single-family homes.
From interactive and user-friendly website design to search engine optimization, reputation improvement, social media presence, and paid advertisement—digital marketing may help property management companies convert online traffic into qualified leads and more leases signed.
Finally, this brings us to the end of this guide. Now it’s time to hear from you. Any questions? Or maybe there’s something we missed? Either way, feel free to leave a comment below.
