When you’re trying to grow your property management business, there are various factors to consider. Everything from acquiring new clients to streamlining your business processes needs to be analyzed and optimized.
But what, exactly, do you need to focus on?
In this post, we’ll provide you with marketing, business operation, and client satisfaction tips you can use today for business growth.
Property management marketing tips
When you’re trying to grow your business, one of the first places you should focus on is your marketing efforts. Marketing is one of the most efficient ways to get in front of more people who can potentially become leads, and hopefully, clients. So, let’s discuss a few tips that can help you market your business.
1. Target local SEO key phrases with your website
Search engine optimization (SEO) increases your chances of ranking higher on search engines like Google or Bing. To boost your rank and visibility, you need to ensure you’re using relevant, high-volume keywords across your website.
So, by utilizing local SEO tactics, you increase your chances of reaching more of your target audience in your preferred locations.
2. Invest in Google search ads to capture valuable traffic
While SEO is a long-term solution to driving traffic to your site, investing in paid Google ads is not. Not only is Google ads a faster solution than traditional advertising methods, but it also brings in considerably more traffic.
With it, you can run ads that are targeted towards demographics, prospects with similar interests or who’ve interacted with your content previously, and content. How you choose to use Google ads depends on your budget and how targeted you want your ads to bet.
3. Join a property management association
Besides the educational benefits you receive from joining a property management association, it can also help you with your business. It's an excellent way to network with others in your industry to share valuable tips and potential leads with.
4. Create content that can benefit your audience
Content marketing can help you position yourself as an authority and drive more traffic to your website. And in turn, help you get more people in front of your services.
Here are some tips to help you start your content marketing strategy:
- Implement more than one form of content (blog post, ebooks, videos, live stream, infographics) to adhere to your audience’s different ways of consuming content.
- Use SEO best practices to ensure your content is ranking high on the search engines.
- Be consistent; the only thing worse than no content strategy is an inconsistent one.
- Promote your content across your social media channels.
While you won’t see results immediately, you’ll slowly start to see your efforts pay off over time.
Property management business operations tips
The same strategies and processes you used when you first started managing your business aren’t going to help you grow it. We’ve compiled a few tips you can implement to begin enhancing how you operate your business.
5. Outsource fieldwork as needed to increase door capacity of individual PMs
Most property managers can only manage around 100 doors each because they have to help tenants and clients. So, when they have to leave the office to do fieldwork, they’re less likely to increase their door capacity. But Showdigs lets you outsource fieldwork to qualified agents near the listing.
This quote from Mark Cunningham is an accurate depiction of what Showdigs can do for you, “Your leasing person calls in sick for a day. No problem, Showdigs can take care of it for you. You don’t want to show on the weekends, no problem, just have Showdigs do weekend showings. There’s tremendous flexibility.”
By outsourcing your fieldwork, you free up your property managers to focus on optimizing their workload, and you can grow your business.
6. Create processes to stay organized
To grow or even maintain a business, you need processes. Without them, your employers and clients aren’t sure what to do next. But with them, it helps eliminate the unknown.
So, instead of your new employees wasting time trying to figure it out as they go, you can provide them with the information they need to hit the ground running. And it helps clients understand how your business operates from the beginning.
It also gives you time to analyze how you’re running your business and see what you can optimize.
7. Don’t get stuck hiring summer employees you won’t need in the winter
Summer is one of the busiest seasons for property managers. More clients are trying to relocate, move-in, or view properties. With the increase in demand, property management companies need to decide if they will hire more help or meet their clients’ rising needs.
Even the most skilled teams can only handle so many clients before they’re overworked and burned out. New employees can help you manage your growing client base when things get busy. But what about when demand slows down over the winter?
You can either keep your new employees and have unnecessary payroll expenses in the winter or let them go (only to continue the following year). It’s tiresome to your team and unfair to new hires.
But with Showdigs, you can confidently outsource your showings and inspections to one of our licensed professionals. You’ll only pay for work when you need it and avoid excessive hiring.
Property management client satisfaction tips
Satisfied clients can refer others to you, become long-term clients, provide you with valuable information, and more. Below, we’ve covered some property management tips that can increase your client’s satisfaction while helping you scale your business.
8. Create an informative new client welcome packet
Onboarding a new client is essential in understanding how you operate and what they can expect from you. However, doing it yourself or even letting an employee handle it can lead to wasted time.
Helping your clients become familiar with your processes is necessary to form a healthy relationship with them, but you don’t need to dedicate all your time to it. When clients have questions and need clarity, you’ll be there. Until then, you can use welcome packets to save time and streamline your processes.
In addition to saving time, welcome packets also help you create a good first impression and allows you to provide valuable information to your clients that they can use when needed.
9. Make sure each client has one primary contact
When you’re managing multiple clients at once, it’s easy to forget who needs what. Problems start to merge and make it difficult for you to address their needs effectively.
But with a dedicated agent, your clients will have a contact they know and trust to help them with their problems.
10. Listen to what your clients are saying
Clients want to be heard, and by listening, they can express their opinion, and you get valuable feedback.
Sometimes, the feedback they provide can help you better market your business. Maybe there’s something about your business that you thought was insignificant but is what clients actually care about the most. So, based on their feedback, when marketing your business online, you can highlight what makes you stand out.
Their feedback can also help you determine whether certain services or features aren’t providing value to your business. So with their help, you can focus more on what matters in your business and less on what doesn’t.
Business growth isn’t something you’ll see overnight. It requires you to continually optimize how you market and operate your business while ensuring your clients are happy. But by using the property management tips listed above, eventually, you’ll get the results you’ve been aiming for.