7 Property Management Marketing Ideas to Implement in 2020
This is the year that you usher in your new digital marketing strategy. We are living in an increasingly digital age. As a result, some of our old strategies and procedures need updating.
That includes marketing.
The traditional standard practices of marketing are growing increasingly obsolete. So, if you still rely solely on radio, print, TV commercials, cold-calling, or telemarketing as your primary ad strategies, then it’s time to change.
If implementing a digital marketing strategy sounds daunting, that’s okay! The benefits of digital marketing, which include:
- increasing your property’s brand presence,
- penetrating new markets,
- generating leads
- increasing your revenue
...far outweigh the learning curve.
Time to get started. Here are the top eight property management marketing ideas. These will help you get the most eyes possible on your vacancy.
Effective digital marketing starts with a great strategy. It’s important to get your bearings and have a clear direction before diving right in. Here are some tips to help you get started.
1. Analyze Your Competition
The best way to stay one step ahead of the competition is to know exactly what they’re doing to stay competitive. You can generate ideas for your own business by evaluating the things your competitors are doing. Once you get a handle on your competition’s strategy, you can start working on your own.
Here are some questions to ask yourself during your research:
- Are your competitors active on social media? If so, on which sites?
- What does their website and blog content achieve? Is it effective?
- Which customer demographics are they targeting and how?
Pro Tip: If you don’t know where to start or don’t feel that your marketing skills aren’t strong enough for this stage — outsource. Hiring someone who is more experienced in this type of research can help you use your time more effectively.
2. Create Content for Your Website
Website content is arguably one of the most important aspects of your marketing strategy. So, don’t make the mistake of pushing it aside in favor of other tactics.
Creating content for your website has several payoffs. Those include:
- more visits to your website
- increased visibility of your units
- establishing yourself as an authority in the rental industry.
Your website should serve as an important resource for both tenants and prospective tenants. An informative guide acts as free advertising for the company that wrote it. It can also help your property stand out among the competition.
Update your blog regularly with content that addresses the lifestyle of your tenants. That can include neighborhood, nightlife, and restaurant guides.
You should also create content that aims to fill knowledge gaps of prospective tenants of all sorts, from pet owners to single parents.
Pro Tip: Be deliberate with your content strategy. Don’t simply create content for the sake of filling up the website. The focus should be on positioning yourself as an industry leader and fulfilling your tenant’s needs. Then, promoting your property will come naturally.
3. Establish Your Social Media Presence
Social media gets a bad rap. However, it’s one of the most important forms of communication in the digital age.
That said, your company should have an active and established social media presence across the major platforms that your target audience uses. (Your competitor analysis should help with this.)
Social media is a great platform to introduce and engage with tenants and prospects. It’s also a great way to directly promote your website content to your target audience.
Pro Tip: Incorporate community engagement in your social media strategy. Partner with local businesses to sponsor giveaways.
That’s a great way to promote both of your businesses. You may also be able to pick up a few referrals along the way. Start with anything from restaurant date nights to discounted rent.
4. Email Marketing and Nurturing Campaigns
Email marketing is one of the best ways to nurture leads and engage with current tenants on a regular basis. Sending out correspondence featuring:
- open units
- information about upcoming events
...will keep you and your property at the forefront of your prospect’s minds. Consider writing a simple newsletter to engage with your tenants.
It’s also a good way to keep current tenants informed. It demonstrates that you have a vested interest in the management of your property.
However, you’ll want to avoid sending these emails too often. If your subscribers begin to feel bombarded with emails, they’ll soon ignore them completely. They may even send them straight to the virtual trash can.
5. Create a Property Page on Review Websites
You work hard to maintain a great property. If your tenants, past and present, have taken notice and commend you on your management skills, encourage them to shout it from the rooftops.
If they politely decline to take this route, then encourage them to write an online review for your property.
Online review sites such as Google Reviews, Yelp, Facebook, and the Better Business Bureau make it easy for prospective tenants to analyze the pros and cons of your business. That’s why it’s imperative to ensure that they are viewing a positive narrative.
If you have worked hard to address tenant concerns, maintain the property, and have not generally slacked on your duties, tenants should be leaving glowing reviews.
Pro Tip: You can incentivize tenants to leave honest reviews by making it a contest. For example, each review (regardless of whether it’s positive or negative) could translate to a free entry into a raffle for a prize.
6. Partner with Local Businesses and Sponsor Community Events
Social media giveaways are a great way to get started with your community engagement. However, there are still plenty more opportunities to get involved.
Start by thinking about the other services your tenants may need. Those may include:
- Local banking
- Real estate attorneys
- Handyman services
- A house cleaner
- Nanny services
You can partner with these businesses to mutually promote exclusive deals, discounts, and expand the reach of your marketing programs.
Additionally, having recommendations for services outside of your business can position you as a local expert for tenants and leads. They’ll trust your opinion.
7. Create a Referral Program
A referral program is an excellent way to get rewarded for your top-notch property management. These programs incentivize tenants to help you find your next lead when looking to fill a vacant unit.
Current tenants refer their friends or family members to your property. Then, if the referral leads to a tenancy, the tenant who put in the referral receives a prize of sorts.
A referral program allows property managers to scale back their marketing efforts for vacant properties. It also allows them to limit the time they spend sifting through a long list of applicants.
If you’re at a loss for prizes to offer for the program, keep it simple. Gift cards, discounted rent, and household appliances are all great incentives.
Pro Tip: Make sure all tenants are aware of the referral program and that the requirements are clear. It’s important for the program to be uncomplicated. Otherwise, you risk scaring tenants off.
8. Online Advertising
If you have a vacant unit, it’s important to ensure that you create as detailed a listing as possible. Make sure to include details such as:
- High-quality photos
- Square footage
- Important lease terms
- Pet policy
- Rent price.
This will ensure that you’re attracting potential tenants that know exactly what you’re offering.
It’s hard to stand out on the internet. It’s even harder to choose the best platform to list your vacancy, especially considering the vast sea of units that people are advertising.
However, it’s important to remember that the most important thing is to ensure that your vacant unit gets as many eyes on it as possible.
That’s where sites like Apartment List come in.
Apartment List makes it easy to get your unit seen by prospective tenants. We do the work of making sure your listing is optimized for SEO.
We create targeted ads designed to entice your next tenant. Not to mention, we attract and send leads, so you don’t have to.
Make listing your vacancies easy with Apartment List!
Marketing is another difficult skill that landlords and property managers must know to run a successful business. It can be hard to make a splash among all the other vacant units that you have to compete against. However, it’s not impossible!
Utilizing the tips in this guide and making sure you have satisfied tenants can make all the difference. It can also significantly decrease the time you spend advertising your unit.
That said, it can be difficult to get your digital marketing strategy right. SEO and paid advertising can take years to get right.
Not to mention, they take valuable time away from your day. You could be spending that time on other tasks.
Apartment List ensures that all listings are optimized and get in front of the qualified leads who are looking for what you are offering. If you need help getting discovered, we've got you covered.
Cast a wide net with your marketing efforts. You can accomplish this by maintaining a strong digital presence, utilizing a resident referral program, and building a good relationship with your tenants. All of these techniques will help guarantee that your marketing strategy is a great success!