Lead generation for property management
Introduction
With so many tips online going on about how to best generate property management leads, it’s easier to get overwhelmed and waste time than actually work on managing your real estate services.
Focusing on what works best for you, classic trial-and-error style, isn’t advisable when it comes to generating leads for property management. This is because there’s actual money to be spent. If you want to know how best to save your time (and money), keep reading to find the key basics for your business.
1. Testimonials and reputation
Flip it and reverse it, because what helps you to close business also helps you in getting leads. When a potential client starts searching for a company, even in the case that your name pops up, what are the chances that you will be picked? What will they read that will save them from clicking on a competitor? Your reputation, of course. This is why the first important step to lead generation is organising a reputation management process. This can be done internally, by requesting for feedback and being quick with follow-ups for better results. Outsourced companies are also used. Once this is done, you move on to step two.
2. Marketing budget
First things first, how big or small is your company? What scale are your competitors being measured by? What is your particular market like and how much does a management contract cost to you? There is no free size template on how much money can be spent on marketing, as your target could be different from your competitors. Figure out your own company’s goals and decide on a realistic benchmark. The classic 3:1 rule (for 3 dollars spent, make 1 dollar) is an example on how to budget.
3. Strategy
While spending money on your campaign is a good start, there’s no point of any plan if there’s no direction. There has to be a holistic way in which you organize your budget and this is where strategy comes in. Here we will introduce you to two key aspects of marketing strategy:
- Inbound marketing, i.e. the information that is put out there for people who are interested but not yet ready to sign up for your service. This is the phase where trust can be established with a prospective client, and encourage someone to work with you.
- Outbound marketing, i.e. ads. digital ads. Think of search engine optimization (SEO) and pay-per-click ads. This is the part where you have to use your objective skills and decide whether the cost in bringing the client is less or more than the prospective customer’s lifetime value. Another tip to remember, in cases of outbound marketing, is to not direct the link to your homepage. Instead, make sure they are directed to a landing page which makes it easier to sign up for enquiries about your services.
The most important thing to remember is to find a good balance between this and
inbound. Some people spend weeks looking for the perfect property service. While
inbound marketing is more affordable for the company, balancing it with outbound helps
to average the cost. A clever way to do this is for example, using content marketing i.e.
website blogs and customer targeted media to help generate leads through SEO.
4. Sales
Leaving a tried and tested classic for the last, but not the least, there’s nothing that
works better than an effective sales process. Think back to what we talked about
planning a marketing budget. Now think about how much time equals money and vice
versa. If someone from your company is not sitting with the phone and engaging with
prospects, you have lost time which means money. Engagement with the leads means
utilizing time and thus not wasting money. Our advice? Use a sales CRM to keep track
of your leads and their current status in the process.
Conclusion
With these basic tips in your pocket, you really shouldn’t mess up going into your first try at leads generation. It might seem daunting, but it boils down to a lot of classic sales techniques and fusing them with clever digital hacks.
Author bio
Sam Edwards is a content writer who lives in Tunbridge Wells. He is working for Pearl Lemon Properties. When he is not writing, he can be found grabbing a coffee or playing guitar.
