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.
If you want to grow your property management business and get property owner leads, you’ll need to invest in a fancy-looking premium website with all the bells and whistles…right?
Not so fast.
Did you know an expensive property management website could actually be hurting your business, rather than helping it?
A property management website full of bells and whistles:
Usually costs between $5,000 and $20,000. Especially when you’re first starting out, this will quickly drain your pockets.
Doesn’t leave you with much money for actual marketing. An unfortunate result of shelling out too much money on your website is having none left over to invest in driving high-quality leads to your site and converting them.
Just doesn’t impress people anymore. 10 years ago, a website was very important and still pretty novel. Now, we’ve all seen millions of websites, logos, and fancy graphics. These days, your prospective clients are only wondering one thing: “Can this person or company solve the problem I have?” Answering that all-important question is about your messaging, not a fancy website.
Loads far too slowly. Our attention spans are shorter than ever, and very few people have the patience to wait around while your website’s many photos load. Even worse: Google and other search engines will penalize your website for loading too slowly, making you difficult to find at all.
So, what should your property management website include?
After 10+ years in the marketing game, I’ve drilled it down to these website must-haves.
Your website MUST:
Have a steady stream of traffic coming to your site.
Okay, so this one might not be about your actual website — but I’m including it here because any website is pointless without the right people visiting regularly.
An effective strategy for driving traffic is essential for your website’s success.
Include a landing page with powerful messaging.
It must instantly let your website visitors know what’s in it for them.
How are you going to solve the problem they have?
They’ll need to know the answer within seconds of landing on your website.
Make the most of mobile.
You really should be designing your property management website with mobile in mind. After all, most visits to your website will be people visiting from their phones or other mobile devices.
This renders all those fancy graphics on your website irrelevant. They could even be negatively affecting the mobile user’s experience — it’s not worth the risk.
The Property Management Website Essentials in Action: A Case Study
When Mike, owner of California’s Blue Line Property Management, first saw the simple one-page website I’d created for his big launch, he was skeptical.
“Don’t we need more?” he asked me. “Don’t we need a full-blown website with nice, fancy logos, colors, pictures, and things like that?”
“Nope, we don’t,” I assured him. “We just need this landing page here. Believe me, it’s going to work. It’s designed to convert. Right?”
He agreed, and we launched the campaign on a Saturday. Exactly two hours and five minutes later, he had his first lead — a property owner who wanted to set up a time to meet with him right away.
Now more than ever, a simple, clear, and concise website with powerful messaging and a steady stream of traffic will serve your business far better than an expensive website that doesn’t convert. When you’re planning your next launch, I’d suggest going back to the basics.
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.