Whether you’re just starting out as a property manager or have a strong, well-established portfolio of clients, you need to be continuously thinking about how you can further increase your monthly rent roll and income.
Fortunately, there are a number of ways you can do this yourself, and it involves being proactive with your brand building, marketing and forging strong relationships with current and potential new clients.
Some ideas will suit certain property managers better than others, depending on how much time, budget and whether you work alone or as part of a real estate agency. Regardless, it’s well worth taking a look at them and deciding on which ones work for you. Read on to find out more.
1) Continuously Research Your Target Market
Markets change, so it’s important you stay on the ball. Research the market by looking at your existing clients and conducting basic surveys including questions such as:
- Why did you go with us?
- How long did it take you to make a decision?
- How many other agents did you consider?
- What are the main points you consider when choosing an agent?
- Was there anything that worried you when making your choice?
2) Listen to Conversations on Social Media
LinkedIn, Facebook groups and online forums are all great places to give you information on the landlord community. On top of this, you’ll also be presented with an excellent platform from which to share your industry knowledge and get your name out there as a subject authority.
3) Know Your Different Client Types
There are different types of landlords and the same marketing approach isn’t going to work on all of them. For example, professional investors with large portfolios will require different services from you than amateur investors will. As a result, it’s important to understand the different types of clients you’re currently working with or are trying to target, as it will help you to drive inbound enquiries.
4) Actively Market Your Services to the Right People
Once you understand your target market, employ strategies to attract both tenants and new investor/landlord clients.
Have a meeting with your team and produce a detailed strategy involving which channels you’ll use to target which client types, as well as where you’ll spend your budget.
5) Publish Case Studies to Attract New Clients
Social proof is a powerful concept in marketing. By publishing case studies of success stories you’ve had with previous clients, you’ll be able to display value to future clients and boost your lead generation and conversion rates.
6) Design Infographics Around Your Market Statistics
Instead of handing new clients a flat case study document, convert it into a more engaging format and supply them with an infographic containing detailed statistics instead.
Hire a talented graphic designer and share your infographics on your social media channels in order to show potential clients how you’ll be able to help them in the future.
7) Build a YouTube Following
If you’re not afraid of getting your face on camera, why not invest some time into YouTube? Make it a place where you share property market updates and build a following of local landlords and investors.
Once you’ve produced your videos, share the YouTube links on your various social media channels to encourage those audiences to subscribe.