I’m about to let you in on a strategy for siphoning off property owner leads and accounts from your competition.
And please don’t worry — it’s perfectly ethical!
Now, this strategy will only work if you feel confident your property management company is better than your competition.
I can’t emphasize this enough:
If deep down, you know your company is not better than your competition, or you’re not sure, this strategy won’t ultimately produce results for you. (If you’d like some help creating services or offers to set you apart from your competition, I can help you out with that, too.)
When your competitor’s’ potential clients are searching for them on Google, they’ll usually type in the company’s name, right? Often, they have a specific company name in mind, and they’ll type it out in its entirety…
So, next time you run a Google ad campaign, create a campaign targeting your competitor’s name in searches.
Then, in the ad’s messaging, you’ll compare your services to your competitor’s.
You have the potential client’s attention; now demonstrate how the service and value you provide is far above and beyond your competition’s — the very company they’d originally searched for.
So often your competitors’ communication might not be that great (trust me, I see this all the time). Their services might be lacking. Their tenants aren’t actually that happy.
You probably know your competitors’ weak points — so play on that knowledge within the marketing message!
At the same time, play up your strengths, highlight how your communication is better, zero in on what sets you apart, etc.
With this simple strategy, you’ll have successfully siphoned off accounts and property owner leads from your competitors, all with your ethics perfectly intact.
Try it out and let me know how it goes!
This is just one strategy from my bag of marketing tricks. If you’d like to hear more, I’d love to talk about working together.
My 3M Method to Consistently Grow Your Property Management Business
Are you sure you’re speaking directly to your target audience?
For most property management businesses, there are two audiences: investors and accidental landlords.
Each of those audiences should have a separate message.
You want to identify their problem, the solution, and then position yourself as the bridge that takes them from their problem to their dream solution.
Can we be real for a second?
Most property management companies offer the same services: rent collection, tenant evictions, etc.
You’ll have to think about what separates you from your competitors. Within that messaging, should be your offer.
What are you offering?
What is the value that you’re bringing to the table?
How are you bringing more value than your competitors?
Answer these questions effectively, and you’ll make your offer irresistible.
Let’s talkYes, I want more property owner leads & units! Let’s say you’re speaking to an investor. Maybe some of the value you present within your service is that you have a monthly investment club where you bring in experts (accountants, title companies, etc.) to speak on different topics to educate your clients and help them further their investment knowledge.
Think of value-adding elements you can add to your service and play them up in your marketing, sales pitches, meetings with investors or property owners, and more. Make the value you’re bringing to the table very clear — and let potential clients know they won’t find that with your competitors.
This is the method by which you get in front of your ideal audience: investors and accidental landlords.
You want to break your property management marketing down into two methods: short-term and long-term strategies.
With short term strategies, you can get up running very quickly and see a rapid return on your investment.
Last weekend, for instance, we launched a campaign for California’s Blue Line Property Management. Literally within two hours and five minutes, they got their first lead. That’s how quickly it works!
We started with a short-term marketing method of generating property owner leads quickly, turning accounts right away, and then taking some of that growth (funds) and investing it in long-term marketing strategies like videos, search engine optimization, and more.
When short-term and long-term strategies work together like this, they create a snowball effect — and you can dominate your industry.
To successfully grow your property management business, you have to track your numbers and know exactly where your leads are coming from. For all our clients, we track emails, contact form submissions coming through their website, and anywhere else the leads are coming from.
Then, we break it all down to determine the cost per lead and look at the rate at which you’re converting those leads into accounts. We need to know those numbers so you can scale up profitably.
You should be able to look at your numbers and say, for instance, “Hey, I’m spending $20 to acquire a lead and I convert half of our leads. That means one out of every two leads convert into an account.” This means you’re spending $40 per account. Which, for most companies, would make sense — especially when you look at the lifetime value of a customer.
Final Thoughts on My 3M Method to Property Management Marketing
Focus on the 3Ms of property management marketing and you will consistently get high-quality leads that convert into new accounts.
Want to chat about how the 3M Method can help your property management business grow? You can find me right here.
If you own a property management company and you’re ready to dominate your market, you’ll need both long-term strategies and long-term marketing strategies working on your behalf, 24/7.
In the marketing world, we break down marketing into these two categories:
Short-term. These are the quick wins — the marketing strategies that begin to work right away, sometimes within the first couple of hours.
Long-term. These are the seeds we plant to grow results over time. When you look down the road a few months and see powerful results, you’ll be glad you put these plans into motion.
…And then there’s the snowballing effect, where both strategies start working together, and you truly begin dominating your market.
When I think of how perfectly these strategies complement each other, I often think of the first property management company we ever worked with, Baltimore’s Bay Management Group. When they first came to us, they managed fewer than a hundred units.
We knew what we had to do.
We put both short-term and long-term strategies in place, and within 5 years they were managing over 3,000 units. They now have three offices, two in Maryland and one in Philadelphia, PA.
[WATCH THIS VIDEO]
I remember when Bay Management Group opened up their new office in Philadelphia January of 2018. Within just 12 months, these guys were rocking and rolling, completely dominating the Philadelphia market — ranking #1 for property management.
But why? It was because of the plans we’d set in motion five years earlier:
With this kind of foundation in place, it doesn’t really matter what new location Bay Management Group decides to open up! Because of all that work we did in the beginning, they’re ready to rise to the top of any new market.
We always start with the short-term property management marketing strategies to get the phone ringing rightnow, to start signing up or closing out accounts, or acquiring more units. Everyone loves a quick win!
Then, we start transitioning into the long-term strategies, looking 1-2 years down the line.
The property management marketing strategies we’re putting in place today are going to help you down the road. The companies that understand this are the ones who dominate their market. And they’re the ones you’ll be hearing about for years to come.
I want this very same success for you.
Do you have questions about what this might look like for you? I have the answers! Let’s get in touch.
Have you ever wondered why you can’t find more “ideal” property management clients?
As a business owner, you probably have at least one or two clients that you love to work with. If you had it your way, you’d only work with clients just like them.
Unfortunately, it can feel like these clients are few and far between.
But what if I told you that there were dozens — maybe even hundreds — of property management clients out there that fit your “ideal” image? You just have to know where to find them.
The internet makes it easier than ever for you to find and attract your target audience to your business. When you’re not stuck working with clients in your community, you’re able to attract high-quality clients from all over — improving the overall quality of your customer base.
But the internet isn’t opening new doors only for your business. Companies all over the world are taking advantage of online marketing to attract new audience members, meaning you have much more competition than you would if you were only competing with businesses in your area.
If you want to attract your target audience online, you need to start out. You need to create the right content, promote it the right way, and show that you’re capable of solving their problems or pain points.
In other words, you need to create a marketing strategy just right for them.
Creating an online property management marketing campaign tailored directly to your target audience isn’t as difficult as you think. Let’s take a look at the four-step process you can follow to better connect with your target audience online.
1. Identify Your BEST Customers
Too many small business owners make the mistake of trying to be everything to everyone. I should know — I was one of them! When I first started out, I thought the more people I could connect with, the more sales I would have.
While the business was growing, we were taking on many different clients with different goals, needs, and values. This meant our team was extremely stressed, always trying to figure out what a client was looking for. To top it all off, we weren’t making much of a profit.
After many sleepless nights, chaotic mornings, and struggle to find the right team of employees, I realized we were making a mistake. Trying to reach everyone meant that we weren’t being picky enough about the clients we were taking on. We had low-quality clients because we didn’t know who our “best” customer was.
In business, you can’t be everything to everyone — and you don’t want to be. When you don’t have a refined message, it comes off flat, generic, and uninspired. This means you’ll only attract clients who aren’t sure who they are, what they’re looking for, or what they need. In other words, clients you don’t want.
When you focus on attracting your ideal clients, both you and your clients will be happier with the work that your team is doing. They’ll pay you what you worth and will be a pleasure to work with. You’ll be less stressed, more efficient, and your business will grow.
2. Create a BEST Customer Profile
At this point, you probably have a few clients in mind that fall into your “ideal” category. In order to start attracting more clients just like them, you need to figure out what it is about them that you enjoy working with. What qualities or characteristics about these clients are you looking for in future customers?
Creating a customer profile of your ideal client ensures you and your team are on the same page about what kinds of clients you’d like to work with. Your customer profile is an in-depth look at exactly the kind of people who make up your target audience.
To begin creating your customer profile, start with the basics. Think about what age, gender, or race your target audience is. What are their interests? Where are they located? These are all ways to start establishing who your ideal customer is.
Once you know who your audience is, you need to understand the problems that they face. What pain does your target audience deal with each day? What problem are they trying to solve purchasing a new product or service.
Finally, identify what their “dream solution” is. How would they like to solve their problem? How can you — and only you — provide that dream solution to them?
To help get you started with your customer profile, click here to download an example of a customer profile we’ve created.
3. Know Facts — Don’t Make Assumptions
In order to best attract your target audience, you need to know as much about them as possible. While you may think you know how they’re searching online, what social media platforms they use, or what solutions they’re looking for, making assumptions can hurt your business. If you want to attract their attention the right way, you need to know the facts.
Once you’ve connected with a few members of your target audience, ask them if they’d be willing to answer a few questions for you. Here are some question ideas to help get your started:
What was the biggest problem you faced before you made a purchase?
How did our product or service help you solve or reduce that problem?
Are there any other benefits, features, or products we could add to make your experience better?
Continuously ask your target audience questions about themselves, what they’re looking for, and what they expect out of you and your business. The more you learn about them, the better your sales will be.
If you’re looking for additional questions to ask your target audience, you can download them here.
4. Use Your Best Customer Profile to Find More
Once you’ve identified who your ideal customer is and gathered the necessary research about them, you’re ready to start looking for them online. In order to attract as many members of your target audience as possible, you’ll want to tackle this topic in a few different ways.
Because many social media platforms allow you to target users based on their demographics and interests, you can use your Twitter and Facebook accounts to get ads in front of the right audience. Check out this example of how you can find exactly the right audience on Facebook.
You can also use your ideal client’s pain or dream solution to do keyword research. Understanding what kinds of problems they’re trying to solve or what kinds of solutions they’re looking for can give you a better understanding of how they’re searching online. You can use this information to develop a stronger SEO strategy.
Finally, use your audience’s interests to discover what websites they visit, what magazines or blogs they read, and what influencers they may follow. When you understand where your audience naturally “hangs out,” you can ensure your advertisements are getting noticed by the right crowd.
Finding your audience online comes from truly understanding who you’re trying to reach. When you know who your ideal client is, where they spend their time, and what they’re looking for online, you can create a marketing strategy that fits right into their needs and desires.
Don’t waste your time trying to be everything for everyone. Instead, refine your message, target your ideal customer, and grow the property management business you’ve always wanted to have.
“That’s exactly what I was looking for! It’s like you read my mind!”
If a customer has ever said these words to you, you know how satisfying it can be. As a small business owner, it’s always reassuring to know you’re offering the perfect solution to solve your customer’s problems.
I got this response from one of my favorite clients, Laura.
Our team at PDR Web Solutions was already maintaining Laura’s website when she asked what else we could help her with.
She was frustrated with the vendors she had been working with and fearful that miscommunication between the parties could be hurting her business. She was looking to put all her marketing efforts in one place to streamline the process.
She wanted us to help.
We listened to Laura’s challenges, pain points, and fears. Then, we worked with her under our Strategic Partnership Program, allowing us to provide the exact solutions she was looking for to improve her marketing strategy.
Working with Laura was a dream.
But it got me wondering, how could I attract more dream clients like Laura?
We tried increasing our marketing efforts through Search Engine Optimization and online ads, but nothing seemed to work. We were getting more leads, but they weren’t necessarily qualified leads.
They definitely weren’t the next “Laura.”
We were stuck. We weren’t sure what we were doing wrong, why we weren’t attracting the right audience, and why we couldn’t convince any high-quality leads to make a purchase.
Then I remembered a quote from one of my mentors. “Your target audience is willing to pay you if they believe the value you provide is greater than the money in their pocket.”
Finally, it clicked.
We were struggling to connect with our target audience because we weren’t showing them the true value in the services we could provide. We were getting our content in front of the right people, but they weren’t understanding how we could help.
We needed a messaging change.
I thought back to problems Laura had been facing before she hired us. What if all my ideal clients were experiencing similar challenges?
We were able to help Laura because we understood her marketing struggles and used our Strategic Partnership Program to provide solutions. Was this the key to attracting high-quality clients?
I decided to apply this idea to everything I did. From our marketing and website to meetings with clients, I approached each topic with a will to solve the customer’s problem. And that’s when I began to hear it more and more.
“That’s exactly what I’ve been looking for! It’s like you’ve read my mind!”
Why Your Audience Isn’t Buying from You
It can be incredibly frustrating to feel a disconnect between you and your target audience. You’ve marketed your services and put out ad after ad, but you’re still not attracting the right leads. You know you can help them, but they just won’t give you the chance to do so.
If your audience is still choosing a competitor over you, it’s probably because you’re not considering the needs, challenges, or fears of your ideal customer.
Let’s consider what happens when a customer wants to make a purchase.
Your customer recognizes that they have a problem, but they’re not quite sure how to fix it. So, they begin browsing the web to see what solutions are out there.
They run into a few different advertisements from companies offering the products or services that may provide a solution.
One company’s advertisement focuses on themselves. It talks about the business’s accomplishments, brags about who the owner is, and only briefly addresses what kind of benefit they can bring to the customer. It’s clear they’re only looking to make a sale.
But the second company’s advertisement plays off the needs of the customer. It addresses the problem the customer is facing and provides a detailed explanation of why their products or services can solve it. The company’s message is hopeful and inviting — they’re here to help.
Now, which company do you think your client is going to purchase from?
If your marketing messaging is more like the first company than the second company, you may have found your problem. If you’re not convincing your audience that you’re able to solve their problems or eliminate their fears, you’re going to continue to struggle to attract high-quality clients.
Take a moment to consider who your target audience is. What do they do each day? What careers do they have? What personal or professional challenges do they deal with?
How can you help?
Once you better understand who your target audience really is, you can craft a better marketing message. If you haven’t identified who is in your target audience is just yet, this template can help.
How to Prove YOU Are the “Dream Solution”
Just as you’re looking for your company’s “dream clients,” customers are searching for their “dream solution.” When you’re able to provide that solution to a member of your target audience, they’re driven to buy from you.
Easier said than done, right?
Well, it may actually be easier than you think.
When creating your marketing messaging, you want to consider what you can do for the client — but you need to go deeper than just what products or services you can provide. If you truly want to convince them to make a purchase, you need to give them a reason.
There are many companies out there that do what you do. While you may provide a unique spin to a certain service or have a different approach to a product, you have competitors going after the same audience members. Flashy advertisements may be enough to catch their attention, but it probably isn’t enough to get a sale.
If you want a customer to purchase from you, you need to establish trust. When your target audience trusts that you can provide the best solution to eliminate their pain, you will get their business.
Let’s look at some of the ways you can use your marketing messaging to improve trust with your target audience.
Put it in Writing
When you’re trying to define what you bring to the table, the best way to do so is to put it in writing. Get as specific as possible in describing who your company helps, what problems they’re facing, and how you solve it.
To get started, fill in the blanks to this sentence:
We help [Target Audience] solve [Pain Point or Problem] by providing [Dream Solution].
If you’re unable to properly fill in the blanks, your message isn’t targeted enough. Keep revising until it is clear.
Make Sure It’s Clear and Consistent
While you don’t want to repeat the same sentence over and over, make sure all your marketing messaging reflects back to the sentence you’ve created. Each piece of marketing you create — from your website to your print materials — should address the same target audience, pain point, and solution.
Think about what your audience is looking for and use your space to be as efficiently as possible. Don’t waste your time with overextended and unnecessary introductions. Just get straight to the point.
For example, instead of featuring an entire display to only welcome visitors to your site, immediately tell them what you do. Don’t make them browse around your entire page just to figure out how you can help them.
Let’s take a look at the health insurance provider Oscar and how they’ve structured their homepage.
Immediately after getting to the site, they provide you with a straight-to-the point description of what they offer. Their readers immediately understand the company’s goal and can determine whether or not it suits their needs.
Your audience shouldn’t have to question what you do or what you can provide. Make sure your messaging is clear, accurate, and descriptive.
Keep Your Marketing Messaging Simple
You want to be creative with your marketing messaging, but sometimes too much creativity can make you lose your audience. Having some unique approaches or different spins can help attract and keep their attention, but if you get too “cute” with your language, it may seem like you’re not taking the matter serious enough.
While you don’t need to be overly dramatic about the problems your audience is facing, you also don’t want to downplay them. If you seem to make too many jokes about the issue or you don’t fully understand the stress of the matter, you may be pushing your target audience away. Instead, keep it simple — like Mailchimp.
MailChimp appeals to a variety of businesses across different industries, but they all have the same problem — they want to get more sales. MailChimp offers a simple solution to help them achieve that goal. Through sending better emails, they can sell more stuff.
MailChimp doesn’t try to spruce up their language or make jokes about lagging sales. Instead, they make it easy for their audience to connect with, improving trust and increasing their chance of getting a new customer.
Stay Away from Industry Jargon
No matter the industry you serve, you want to avoid industry jargon in your messaging. Your audience may be familiar about the industry you’re in, but using jargon they’re unfamiliar with can make them feel like an outsider. If you put up a wall between you and your customer, it makes it harder and harder for them to trust you.
Instead, talk your audience’s language. Use your target audience’s lingo, terms, sentence structure and more. The more you sound like your audience, the easier it will be for them to trust you can help them.
Hubspot does an awesome job at appealing to their target audience without using a lot of jargon.
While someone unfamiliar with growing a small business may not know what some of the terms mean, the Hubspot target audience surely will. Hubspot appropriately used the language of their target audience to build authority without making the audience feel like they’re out of the loop.
The secret to getting your audience to buy from you isn’t some sales pitch — it’s listening for their pain points, establishing trust, and proving that you have the right solution.
But in order to get there, you need to understand who your target audience really is.
To start attracting more high-quality customers, check out how to identify who it is you’re really trying to reach. Through identifying your target audience, you’ll be able to create the perfect message to secure their business.