If you’ve been in the property management industry for any amount of time, you know how important a fresh lead is – whether it’s a new property that just came up for grabs, a building owner that can’t seem to manage things on his or her own, or an eager tenant that is anxious to move into one of your available rentals. Leads may come in many shapes and sizes, and they may trickle in from various different sources, but one thing remains consistent across the board – they’re only valuable if you capitalize on them. Here are a few tips to help you manage your leads in a way that will consistently net you the best possible results.
Hone Your Marketing
The first step in successful lead management is generating quality leads in the first place. If you’re simply throwing everything at the wall and hoping some of it sticks, chances are your results are less than impressive. Be sure you understand your target market and then focus your efforts on marketing techniques that will attract those people you’re targeting and bring in those valuable leads you’re after.
The Property Manager’s Guide to Extraordinary Marketing has all the inspiration and resources you need to make the right message heard by the right people.
Recognize “Hot” Leads
When it comes to leads, there’s a fine line between interest and intent. It’s important that you understand this difference so that you’re not wasting your time on less valuable leads and missing your chance on those that are hot. A quick way to do this is to analyze the source of the lead. Was it someone that filled out a form asking for more information and requesting to be contacted, or was it simply someone perusing one of your blog posts? Every lead is worth something, but you should try to focus your efforts on those that show more intent than mere interest.
Respond Right Away
This is especially important when it comes to rental property. Chances are if someone is interested in seeing your property, they’re also looking at a bunch of others. If you don’t respond to their inquiry right away, you may miss your opportunity. When a lead comes in, and you are able to categorize it as “hot”, don’t hesitate. If you don’t respond, someone else will.
Stay On Their Minds
Not every lead is going to turn into a sale immediately. You’re going to run into plenty of people who are interested, but just not ready to pull the trigger – especially in terms of hiring someone to manage their property for them. Perhaps they’re shopping around, or they just aren’t quite ready to take that last step. It’s important that for these leads, you stay on their mind without being too pushy. Setting up a drip email campaign that reaches out to nurture the lead in a “friendly reminder” type of way is a great way to do this. That way, when they’re ready to move forward, you’ll be the first phone call they make.
Measure, Measure, Measure
Successful lead generation isn’t cheap, and if you’re spending your marketing dollars in an area that isn’t getting you the results you need, you’re wasting money, month after month. You should be regularly analyzing each campaign, measuring things such as cost per lead and conversion rate, to see what’s working and what areas may need to be tweaked. Lather, rinse and repeat until you achieve a winning formula.
To be successful and remain competitive in property management, you have to keep those valuable leads coming in. More importantly, you have to know how to effectively handle those leads so that you can capitalize on as many of them as possible. By following these five simple steps, you’ll be managing your leads like a pro in no time!
Download The Property Manager’s Guide to Extraordinary Marketing. It has all the inspiration and resources you need to make the right message heard by the right people.