The events of recent years were a testing time for property management businesses and property managers alike. So, a big congratulations for making it through to the other side.
More than ever, resilience is a crucial attribute of a successful management company. Those willing to rebound, reinforce, and grow will be the ones that become the most successful property management companies—as Benjamin Franklin once said, "out of adversity comes opportunity."
However, knowing where to start can sometimes be half the battle. Luckily, you're in the right place if you're ready to take your property management business to the next level in 2022. In this blog, we will dive into four efficient and cost-effective methods to help you get ahead in the property management game and smash it in 2022.
1. Create or Update Your Google Business Account
Whether you like it or not, Google is your best friend regarding marketing and the general visibility of your business. In 2021 the utility and importance of the Google My Business (GMB) feature came to light as users frantically searched for updated open times of local spots and other Covid-related information. This trend shows no signs of stopping, and because of this, an accurate and inviting GMB account is more critical than ever.
A GMB account is not only a valuable way to share pertinent information about your business with customers and potential leads, but it's also your first impression.
Follow the five key steps below to maximize your GMB and get your name out there!
1. Hit All the Fundamentals on Your Profile
It may seem self-evident, but publishing relevant information will make those searching (and Google) very happy. This information includes:
- Business name (same as on your website, building, and anywhere else mentioned)
- Phone number (with accurate dialing codes)
- Link to website (double-check that the link is not broken)
- Business hours (accurate and up to date)
- Enable reviews
- Enable question and answer (be sure to answer questions quickly)
Please note that when establishing your profile, SEO will not have any bearing on the outcomes of the page as it is a local service. Instead, focus on clarity and honesty.
2. Add Quality Photos
Add inviting high-resolution photos to your page to make it more aesthetically attractive and inviting. Remember: photos can often say more than a few words!
3. Create Engaging Posts
Think of GMB posts as a kind of like micro-blogging. You can use them to share information about events, updates, and other vital details. Keep in mind that consistency is the key. As with all of the details on the GMB, these should be concise and eye-catching.
4. Engage and Update
Once you've set up these categories, keep an eye on Google, constantly updating and making changes to what it allows on the GMB page. Once they permit more information to be added to the profile, add it as quickly as possible.
As a final tip, don't forget to engage with questions on the page. According to Google, a great way to stay on top of the account and questions is to allow access to several team members to ensure quick and appropriate responses and updates when required.
2. Leverage Education-Based Marketing to Grow Property Management Businesses
Education-based marketing is a way to build confidence in your business and connect with prospective clients in a mutually beneficial way.
Successful property managers start by considering what unique insights your property management business has and how this could best be transformed into educational content. This is one of the key ways to grow property management businesses and establish them as authorities in the field. By doing so, you lay the foundation for a trust-based relationship.
An easy way to get started is a simple once-a-month seven-sentence email that focuses on a recent trend in the industry, such as property management company best practices, rental rates, new laws, collection rates, and so on. These monthly emails are like micro-lessons and a non-invasive way to enter and stay in the inbox of leads without being overly pushy.
Some additional ways to leverage education-based marketing include:
- Creating informative blogs on your company page
- Producing quality video content which is also great for SEO
- Host free online classes or seminars
- Create educational content in the form of e-books or whitepapers
- Build user-friendly "how-to" guides
What's excellent about educational content is that it may only require the occasional update once it's created. It's also an effective way to start compiling an email list and build a trust connection with clients.
3. Share Your Education
Although closely related to the step above, sharing your education and insights as a property manager is a slightly different approach to help you grow your property management business. By sharing your education and wisdom, you connect directly with those most closely related to your business being:
- Prospective Clients
- Current clients
- Outside connections (or potential connections)
These are clients and people who already know or have some idea of your business. In that case, the outreach will be more personalized to keep them updated and maintain contact.
A simple once-a-month email to these three different groups will help you nurture these precious relationships. This is where clear organization and communication will become the forefront of your strategy.
One of the easiest ways is to establish a monthly newsletter sharing your content, insights, and any interesting tidbits you've learned over the month. When creating the content, ensure that the call to action matches the email or newsletter recipient group appropriately.
4. Improve Your Services
Although easier said than done, the last step is arguably the most important.
Of course, marketing and outreach are vital, but growing your business for more property management success also involves investing time and resources back into the company to deliver the best services in the market.
Improving your services starts with one fundamental pillar, feedback. Although feedback may fill you with dread, listening to client needs about rental property management can help you tailor your services and offer a better all-around client experience. Encourage clients to review your property management services and provide various avenues to do this.
Being a quality property manager means more referrals and will help you retain clients long term. For a thorough overview of your property management firm, consider employing the services of a professional real estate management consulting business that can provide an objective bird's eye view of your company.
The Time Is Now to Grow Property Management Businesses!
After a rocky couple of years, it's never been a more exciting time to dig in and grow. If you'd like to learn more, feel free to reach out to the team at Real-Time Consulting Services today to discover how we can help you set clear goals and metrics and to become one of the most successful property management companies in your market!
What's your profit per door? Find out when using our free Profit Calculator!
We will review your business plan and make sure you are on track.