Here's something that might seem surprising about today's housing market: High mortgage rates for buyers could actually mean better property management leads for property management companies. That's right, we said it! Consider this: As high rates cut into the ultimate value a seller can get for their property, many homeowners are renting out their properties rather than selling them. That in turn creates a growing demand for skilled property management.
The situation presents an advantageous landscape for property managers looking to expand their client base and get property management leads.
And that's exactly what we're talking about in today's article: property management lead generation. We're exploring 20 effective strategies to tap into this market potential, from leveraging referrals and business networks to harnessing the power of digital marketing.
Let's dive into how you can capitalize on the current market trends through property management marketing and secure more clients for your property management business.
1. Referrals
This is a great step for new businesses. You can get referrals to new clients from friends and family, local BNI groups, realtors, and other clients. Leverage your existing network and ask for referrals. Satisfied clients and professional contacts can often provide recommendations to potential leads. You can also create ancillary revenue by charging a referral fee for your own referrals.
2. LinkedIn
Another good one for new business, use LinkedIn to connect with potential clients, join industry groups, and share valuable content. It's a powerful platform for B2B lead generation.
3. Event Marketing
New companies can host or attend industry events to network with potential property management clients. These can range from local real estate meetups to larger industry conferences.
4. Cold Calling
While it may seem old-fashioned, cold calling can still be effective, especially if you’re just getting started. Just ensure you're targeting the right property owners and property investors in your local market and offering clear value.
5. Facebook
Facebook, and other social media marketing, is effective for new and growing companies. Use targeted Facebook advertising or post in local groups to reach potential clients. Consider running ads targeting landlords or real estate investors.
For growing companies, use advanced targeting options in Facebook Ads to reach a larger, more specific audience. Consider retargeting ads to website visitors or people who have interacted with your content.
6. Podcasts
Podcasts also work well to launch your first marketing strategies or to help boost a growing company that has plateaued, or just needs a fresh take and new leads.
Start a podcast or guest on existing ones (like our Triple Win Podcast). Discuss industry topics to establish your expertise and reach a larger audience.
7. Local Businesses & Strategic Partnerships
When you’re just getting started, it’s a great idea to partner with local businesses that serve the same market. For example, a local moving company might recommend your services to new residents. You can also join local clubs and the Chamber of Commerce and attend meet-ups to build a network that refers high quality leads and clients.
8. Direct Mailing
New companies should send targeted direct mail campaigns to potential leads. This could include newsletters, postcards, or informational brochures about your services.
9. Niche Forums
Launching a new business requires support and community. Participate in online forums related to property management or real estate. Answering questions and sharing insights can help attract potential clients.
10. Read Local Listing Reviews
Looking for your first few clients? Monitor local listing reviews such as on Google and Yelp to find landlords who may be having trouble with their properties. Reach out to offer your services.
11. Browse Newspaper Ads
Another great way to find those first 10 or 20 clients is to look for rental listings or properties for sale. Reach out to the owners to offer your property management services.
12. Content Marketing
Now we’re getting to a strategy for a growing and established company. Create valuable content on your website and social media channels. This can include blog posts, infographics, or eBooks that provide insights to property owners. A good example of content marketing for lead generation is Realty Medics.
13. Google Ads (PPC)
Established PMCs can run pay-per-click (PPC) campaigns on Google to appear in search results for relevant keywords. This can help attract landlords or property owners searching for management services. This is one of the best online marketing strategies.
14. Search Engine Optimization (SEO)
A great step for companies looking to keep growing is to optimize your website for SEO and content with relevant keywords to rank higher in search results, increasing visibility and attracting organic traffic.
15. Email Marketing
Worried about your company’s growth plateauing? Nurture your existing email list with regular newsletters or updates, providing valuable information and promoting your services to encourage conversions.
16. YouTube (Videos and Ads)
Create educational videos on property management topics or advertise on relevant channels to reach a wider audience on YouTube. This is ideal for a company that already has a network of clients, but could also help you start out.
17. Webinars
Once you have an audience established, host webinars on relevant topics to provide value to your audience. This can help position your company as an industry expert and attract potential leads.
18. TV Ads
Depending on your budget, consider TV advertisements. Although more costly, they can reach a wide audience and increase your brand visibility. These are ideal for large companies. Single-family rental property managers aren't typically going to go this route.
19. Billboard Ads
Like TV ads, SFR property managers likely won't be using TV ads, but it certainly is a strategy in the larger property management world. Outdoor advertising, like billboards, can help increase local visibility for companies that already have an established reputation. However, it’s best suited to companies targeting property owners in specific geographical areas.
20. Pay-per-Lead Services
Use services that sell qualified leads. While this involves upfront costs, it can provide a stream of potential clients who are actively seeking property management services.
Final Thoughts
For more insights about lead generation strategies, check out our Triple Win Podcast for residential property managers. Or, here are a few places to keep reading about growing your PMC:
Topics:
October 18, 2024
