Finding new clients for your property management company is no joke and needs a strong strategy. Here are a few marketing strategies to help you obtain new business.
As a property manager, by now you would know how important it is to have quality clients. While it's important to focus on SEO strategies, email promotions, or building a website, it's equally important to finding new clients for growth. In fact, whether you are an experienced property manager or a novice, acquiring new clients also adds to your income. How? Adding new and quality clients who are consistently reachable and contribute to the growth of your property management business.
You can either choose online or offline methods to acquire new business. However, marketing, brand building, campaigning and building relationships with new and existing clients is rather crucial. At the same time, you must also assure the property owners that their properties are in safe hands. Here are a few marketing strategies to help you obtain new business.
How to Find Clients for Property Management Company
The first and most important step would be to run thorough market research. You can simply run a survey with your current property management clients. You can ask them how and the reason why they relied on you to manage their property. The survey could include a mix of open and closed-ended questions to help you hit the bullseye with prospective clients.
This is one of the most crucial steps for growing your property management business. Before even you get into planning your internet marketing strategies, you must know your spending limit. You would first need to add some value to your management contract. According to a survey, a property management company spends almost $1154 on marketing each month. But the acquisition price may vary for a new contract, like the realtor referral fees or the Google Ads budget.
Now that you have a budget, this is the time to nail a marketing strategy for your online campaigns. There are different ways to market your property management services online. Pay-per-lead, inbound marketing, SEO, and social media marketing are some of the most popular ways.
- Pay-per-lead requires you to invest in Google ads and other sources related to property management.
- Inbound marketing allows you to create a strong online business platform using content and social media marketing, and managing reputation.
- Search engine optimization is a comprehensive strategy that needs special skills. When done in the right manner can get you tons of new clients.
- Social media marketing includes ads on YouTube for instant exposure, using Facebook messenger bots to converse with potential clients. These can be the people visiting your website or Facebook page. Joining Facebook groups of real estate investors and becoming an active member is another great trick. Having a LinkedIn account is a must where you can look up for and join real estate investor communities.
- You can create blog posts for websites or write as a guest blogger about the property management services targeting owners. Creating quality content on real estate websites helps you to strengthen your reputation and thus, attract new clients.
- Email marketing with well-crafted emails is a great way to add new clients to your email lists.
Craigslist has a section of rental properties from where you can collect the name of the owners. You can then call these leads to sell them your services.
While cold calling is one of the ways, you can feature on a podcast for an interview as well. However, it should be related to the property management business. Television commercials, billboard advertisements, and advertisements in real estate magazines or local newspapers are few other ways to promote your property management business.
Word of mouth is indeed one way to get business, but it's not true for all. To get more leads you would need to build a relationship with local realtors and get references. Offering them a referral fee for each client reference can be a great boost to this relationship.
However, for the most effective leads, there could be no better source than your existing clients. You can also incentives to such clients who get you more referrals. Beginners can start off by getting references from friends and family.
Host or attend local real estate meetups using the website - meetup.com. You can look up for local real estate investor gatherings and attend them for networking with the realtors. Here you can approach the host and request for a chance next time to speak about your services.
Alternatively, you can also host such an event by creating an event on the website. The event should be informative with the useful matter related to real estate and eventually talking about your services.
Reach out to property owners by joining the relevant groups such as Chamber of Commerce, or the real estate investor's club. You can get to know some really bright and inspiring renters and property owners at the chamber of commerce. This is one place where you can end up with a long-term client who may belong to your area. The real estate investor's club, on the other hand, allows you to get access to your target market.
Joining online real estate forums and participating in the discussions is another great way to find new clients. However, you have to spend some time finding the right forums. You can also be a part of the business network international and connect with other professionals. In all these cases, networking is the key.
Creating a good relationship with the home owner's association is a crucial step for those dealing with rental properties. Most of these associations have stringent rules set for their communities. You can win their confidence by creating a strict rental agreement with the help of the association. You would need to firstly find such communities where you would like to expand your property management business.
Then ask the association over for lunch or dinner where you can discuss your rental plan. The final step would be to convince them on how you will ensure that the tenants comply with the rules. You can also offer them special pricing for the property owners who would rent their spaces using your services.
Once you have managed to get the new property management clients, it's time you focus on building an exceptional website. The website should not just be appealing but it should also focus on quality content since it represents your brand. The content should be for the target market with effective marketing strategies involved. If needed, get a specialist to create effective landing pages for direct messages in an efficient manner.
More importantly, make sure that your website is search engine optimized for a strong online presence. For this, your content must include property management related SEO keywords. Add high-quality and relevant images for that added impact. Overall, the website should be powerful enough to attract visitors by presenting your services in an attractive manner. Moreover, the directions should be clear enough for them to understand what you have to offer.
Getting leads is not the end of it. There are chances to lose the lead if your property management company does not have a good online reputation. You must focus on getting your online rating up. How? Find a solution that's specific for property managers. Presentation of your property is important, since it brings in referrals. We suggest using outdoor mats to keep your property away from dust.
Growing your property management business requires a lot of work. While you need a good website, you cannot just sit and wait for new clients. You need to build a strong new client base to get the desired results. We have mentioned some of the best approaches above to find new clients for the property management company. When followed properly, these methods can prove to be most effective. So, follow the steps and take your property management company to new heights.
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