As a property manager, finding the right clients is crucial for your success. You need a constant stream of clients and plenty of properties to manage. Property management is a numbers game. Since you’ll likely be working on tight margins to stay competitive, securing just a few additional clients can often be the difference between negative and positive cash flow.
But, how do you find those clients? Sure, you know that you need quality leads, but how do you go about getting them? Marketing your property management company may seem like a headache. But, with the right strategies and the right marketing model, you can grab those clients and focus on what really matters — managing properties.
Today, we’re going to look at the three most common methods of marketing for property managers. Each of these methods can help you acquire leads, increase branding, and remain financially secure. In fact, some property managers choose to combine two or more of these methods to pull in more clients.
One of the most cost-effective ways to market your business is to use a licensor. Instead of paying to market your property directly, you can use a licensor’s brand name to help you drive business. This means that you reap the bulk of the benefits of marketing that the company you purchased a license from has accrued over their lifetime.
Since the brand that you’re purchasing the license from has already built the brand, you’re essentially purchasing all of your marketing in one package. By using the name and recognition of a licensor, you can quickly scale your property management company without additional marketing payouts.
Of course, some property managers will choose to hire a marketing agency to help them grow their brand and marketability. This approach is best for property managers that have an attachment to their brand name or have the cash flow to support a full-time marketing agency.
Each agency will approach your marketing differently, and services can range from out-of-home advertising (e.g., billboards, newspaper ads, etc.) to digital marketing (e.g., SEO, social media, etc.)
Finally, you can always purchase leads directly, which circumvents the need for aggressive marketing. Since the primary goal of marketing is lead capture, simply purchasing your leads can be a simple solution for many property managers. There are multiple benefits to simply purchasing leads outright.
Since marketing often involves vague returns, calculating exactly how many leads your capturing for your money can be tough. By purchasing your leads, you know exactly where your money is going.
Property management is a competitive market. With purchased leads, you don’t have to deal with complex marketing strategies, and you can jump straight to the point.
Purchasing leads is much faster than organic marketing strategies. Ranking on Google can take months (if not years), and advertising on ad platforms can be difficult and expensive without the right agency support strategies.
Buying leads is often combined with the above strategies for maximum efficiency. Since purchasing leads is typically the most stable source of clients, it works well with any other marketing strategy, and it can provide a consistent stream of sales for your property management team.
Finding a way to reach the right clients at the right time is mission-critical for property managers that want to stay profitable and ahead of the competition. By using one or more of these strategies, your property management team can maintain a steady pipeline of clients, which means that you can continue to focus on operation success and management strategies.
Do you want to learn more about any of these strategies?