Having a handful of property management clients is fine when your business is just starting. But if you want to take your business to the next level, you need to bring in as many leads, clients, and partners as possible.
Luckily, there are a number of strategies that you can use to grow your property management operation. Implement these tactics to attract new customers and help your business soar to new heights.
Tips and Tricks to Attract More Property Management Leads
1. Use inbound marketing.
Inbound marketing involves creating and posting content to attract new customers. For example, you can build a website and focus on search engine optimization (SEO), launch a blog, create a podcast, or start a social media campaign.
Research shows inbound marketing methods generate 54 percent more leads than traditional paid marketing strategies. It’s a great way to increase brand awareness and showcase what sets your brand apart while also educating and nurturing leads and providing value free of charge.
For example, your business might start an ongoing property management campaign that offers tips and tricks to help property owners save money and increase their bottom line—while also pointing them to your services.
2. Focus on building relationships.
It’s easier and more affordable to sell to existing customers than attract new ones. As it turns out, increasing customer retention rates by just 5 percent increases profits by as much as 95 percent.
The theory is simple: People like doing business with individuals and companies they like. So if you can maintain great relationships with current clients, your company will grow alongside your customers’ businesses.
You may also consider launching a referral program to incentivize customers to spread the word about your property management business.
3. Partner with complementary businesses.
According to one study, 80 percent of property managers coordinate or perform maintenance and repairs or collect rent and fees.
Performing manual tasks and responding to requests may work when you’re just starting out, but this becomes impossible at scale. If you hope to grow your business, then you must form relationships with trusted plumbers, electricians, carpenters, and financial professionals. This frees you to focus on business growth and boosts brand visibility, thereby increasing your chances of generating referrals.
4. Offer discounts and deals to new clients.
Another way to grow your business is to offer special promotions for new clients to encourage them to work with your company. To illustrate, you may provide a free month of service or a 10 percent discount for the first year. This gets clients in the door and allows you to build trusted relationships. It sets both parties up for a long-term and mutually beneficial arrangement.
5. Leverage customer reviews.
New customers want to see plenty of reviews advocating for your business. In fact, 93 percent of customers read online reviews before buying a product. For this reason, it’s worth approaching your happiest customers for quotes or testimonials that you can put on your website, social channels, and advertising materials. To encourage customer participation, you may want to offer small incentives like Starbucks or Amazon gift cards.
Level Up Your Property Management Business Today
In today’s difficult economy, every business faces numerous challenges. But everything is easier when the cash is rolling in and your customer base is growing.
One of the best ways to build a more resilient and profitable business is to expand your client base. Using the above tips, you can optimize your property management company and scale your operations.
At a certain point, it may be time to invest in software that makes managing your business a breeze. This is where NetIntegrity comes into play, offering a complete property management solution that provides critical reporting tools and analytics designed to help you win new business.
To experience NetIntegrity in action, request a demo today.