Owner of Rhino Realty Property Management and Rhino Realty B&B, entrepreneur, investor, advisor, author and speaker.
Marketing is essential to growing your property management business, but the ways you can market your company run the gambit from billboards to social media to postcard mailing. It can be overwhelming to get started, but attracting property owners and renters is dependent on a solid marketing plan.
When you’re starting out, make sure you’re intentionally choosing your marketing strategies and that they fit into your overall business plan. Every marketing dollar you spend should be targeted and focused on bringing in more business. You work hard for your money and want to make sure it’s working for you. It can be easy to throw a bunch of money at advertising without seeing a return, and, obviously, not all marketing efforts will work. But in my experience as the owner of a property management company, you can give them the best possible chance through careful planning and data tracking. Here’s how:
A well-thought-out business plan is crucial to effectively invest time and energy into marketing efforts. If your business doesn’t have a clear direction and goals, it is almost impossible to know how to start marketing your property management company. For branding and marketing efforts to be effective, they must be cohesive and directed at helping meet your business goals.
You don’t need to spend weeks developing complex, long-winded formal business plans of the past, but to create a marketing strategy that works, you will want to have your goals, mission statement, financial planning and competition research in writing. This will provide a guide and map that you can use to assure you stay true to your brand as you deploy your marketing efforts.
Develop your online presence.
In 2022, you must have a website for your business to be relevant. Potential clients are going to spend time on your site and will evaluate your company based on your website. As such, your website should be easy to use, focus on what you sell, and work on both phones and computers. Furthermore, because you’re working regularly with both property owners and renters, resources and information targeted at both of these groups should be front and center when they visit your site.
In order to be effective as part of your branding and marketing efforts, your website should also have high-quality imagery, listings of your current properties, interesting and attention-getting staff bios, well-written copy, contact forms on every page, testimonials and your company’s mission statement. Using good search engine optimization practices will allow both potential owners and interested renters to find your website easily, so any web design should be done with this in mind as well.
Create a blog.
It’s relatively easy to set up a blog on your website, and it can help with both your SEO and establishing authority in your space. Posts about real estate investing, how property management companies work, affordable ways to decorate your rental and anything else that you think visitors to your site would be interested in are effective. Blog posts don’t have to be written by professional writers; they just need to be helpful or interesting and give your readers the information for which they are looking.
Establish your social media accounts.
I’ve found social media is a relatively inexpensive way to market your business and, again, is necessary to create a brand-driven, cohesive online presence. Your social media platforms should align with your website and have similar messaging so that your entire online presence is connected and cohesive as people navigate among platforms.
It isn’t necessary to have a profile on every social media platform, but you need to be present somewhere. For your property management company, I recommend Facebook (to reach older customers), Instagram and TikTok (to target younger customers) and LinkedIn (for networking with potential owners). Remember that in all of these spaces, consistent posting is the key to success, and videos are king.
Develop a content strategy.
It cannot be emphasized enough: The best way to brand and market your property management company is with intentional content planning. Content should be targeted at your ideal audience and should be consistent across platforms. Regardless of where someone finds your business, they should recognize your branding and messaging.
Create a newsletter.
Once a property owner hires you, you want to continue to nurture the relationship. One relatively easy and effective method of staying connected to your property owners is to send a monthly newsletter. This can include business updates, real estate investment news, recommendations, facts or jokes.
Creating a newsletter can also help you establish authority in your space and remind owners why they trusted you to manage their investment. A newsletter also provides easily shareable content that can be forwarded to other people to get the word out about your business.
Measure, measure, measure.
Regardless of which of these strategies you employ, you have to measure the results of everything—every campaign, post and mailing. Knowing which strategies perform well will inform future content. Efforts on successful campaigns should be bolstered, while unsuccessful campaigns can be tweaked or abandoned. You want to be able to make data-driven decisions when it comes to spending marketing dollars. Social media platforms, Google and email marketing services provide robust reporting features that help target and track all of your marketing activity.
While branding and marketing might seem overwhelming at first, it’s important to stay strategic and consistent with every single marketing effort. The worst thing you can do is start deploying marketing strategies that are not consistent with your marketing plan and branding or that you can’t keep up with consistently.
So, go slow and make sure you are confident with your strategy and marketing plan. If you are unsure of what to do or don’t feel like you have time or expertise for marketing, there are a lot of resources out there for you. Reach out to your connections for advice, recommendations and feedback, and you’ll start to build the confidence you need to grow your business through marketing.