When properties have vacancies, the goal is to fill them as fast as possible otherwise cashflow is reduced. To fill vacancies property managers must first attract a pool of good tenants. When you have less options it’s more difficult to find the ideal tenant for your property management company and the lifestyle you provide. In 2015 to 2016, a Venngage study found marketers increased visual content by 130%, integrating strong visual components to vacancy marketing can enhance the effectiveness of advertising and draw in more prospects.
Email marketing is one of the most effective forms of direct engagement, it’s more than twice as effective as social media marketing. With over 246 billion emails being sent every day, 79% of Americans want marketing emails to be more tailored to their interests. By implementing a segmentation strategy, the ROI of email marketing can grow up to 77%.
According to Pew Research, millennials have officially eclipsed Baby Boomers as the largest generation. What this means from a business standpoint is that the audience you are marketing to has changed. And given the fact that the younger generation that now wields the strongest buying power also happens to be a relatively fickle group, this can be a challenge.
Staying relevant in the ever-changing property management industry means staying in tune with all the latest trends. For years now the role of technology in the world has evolved. Technology and innovation are embedded in society and business. Currently mobile technology serves a great advantage for property managers. Beyond offering a mobile friendly website, property managers can leverage mobile applications to streamline business operations.
As a top-tier leader, writing a blog is probably the last thing on your radar. After all, you’ve got a property management company to run. Who has time to write articles? Believe it or not, there are a surprising number of advantages to executive blogging, many of which could help both your career as well as your organization as a whole. Keep an open mind and consider the following:
Ongoing staff education is the lifeblood of any business, particularly in a competitive industry such as property management. The acquisition of new knowledge and skills makes your employees an even more valuable asset and can help position your firm as an industry front-runner. One of the most effective ways to help your team learn and grow is through social engagement. Here are five ways to integrate social into your training strategy.
Technically, you manage properties. In reality, you manage people. In other words, without customers to serve, residents to tend to and contractors to keep track of, there would be no need for you to manage properties at all. The property managers that understand this are the ones who really stand out from the competition. And a great way to capitalize on this is to leverage the tools at your disposal to engage with the people in your network. Let’s take a look at a few highly effective ways you can use social media to do just that.
In case you weren’t aware, in April Google officially shut down the consumer (personal) version of its social network, Google+. While the shutdown doesn’t directly affect Google My Business listings, as they are two separate products, it’s still a big change and with that change comes some degree of uncertainty. To set the record straight and quell any concerns you may have, let’s take a look at what this change entails and, more importantly, how it affects your property management business.
Before the Internet, property managers only had a handful of ways to market their services. For those working with tight budgets, the list of options was even smaller. Thankfully, the web has opened the doors to many opportunities for reaching the masses, regardless of how large (or miniscule) your marketing spend happens to be. Whether you’re just starting out or are looking for a few fresh ideas for getting your brand in front of more prospects, here are five ways to promote your property management business online without spending a single penny in the process.
According to Pew Research, 88% of adults ages 18 to 29 use social media regularly. Among those ages 30 to 49, that number falls slightly to a still-impressive 78%, and then to 64% for those aged 50 to 64. In fact, even 37% of those aged 65 and older are using social media. The numbers don’t lie. Social media has become an integral part of our lives. And regardless of what age group you are trying to connect with as a property manager, it’s clear that social media should be a part of your strategy.