It’s no secret that there is a lot of competition in the property management field. But as they say, a little competition can be healthy. It keeps you striving to perform at your best. However, when it comes to winning over new property management clients, the key is to convince them that you are the best. Here are a few ways that you can do just that.
Demonstrate what sets you apart
In order to be successful in this industry, you should have a point of difference that sets you apart from your competitors. It could be that you are known for increasing the value of most assets that you manage, or it perhaps you provide the personal caring touch of a family-owned business. Whatever your point of difference, find ways to demonstrate it in all of your interactions with prospective customers.
Promote your value
Even in a highly competitive field such as property management, it is not necessary to provide the lowest cost in order to get the business. In fact, this strategy can hurt your chances for profitability and sustainability in the long run. Instead focus on demonstrating the value of the services you provide and convince prospective customers that you are worth every penny.
Reveal your tricks of the trade
We’ve discussed a number of times in previous blog posts, the importance of having the right team and the right technology in place, in order to maximize productivity and better serve your customers. Don’t keep your secret weapons hidden! Be sure to make prospects aware of your team’s credentials, as well as the technology you have in place to support property management functions and maximize profits.
Back up your statements with proof
One of, if not the most effective ways to “seal the deal” and convert a prospect in to a customer is through the endorsement of existing clientele. People need to feel confident that their decision is the right one, and hearing that their colleagues have benefitted from your property management services is a very powerful way to convince them. Effective customer testimonial formats include quotes with quantifiable statements, reference letters, case studies and video testimonials.
Here's a testimonial example from one of our property management clients:
"To stay competitive, it is mission-critical to have a deeper understanding of our rental and condominium portfolios. Using INFO-Tracker™ helps us access a single source of the truth, which is vital to our business as we ensure stronger customer satisfaction and prepare for the future growth of the company."
— Ted Maulucci, CIO, Tridel