Reaching new property owners and landlords looking for help managing their properties usually means purchasing some advertisements. But buying a social media ad or two and selecting a region or demographic to target is unlikely to net you more than a couple of leads—and of those, even fewer will be solid.
If you want to optimize your property management marketing, it's time to rethink your paid media strategy. The more relevant your strategy is to buyers, the more effective it will be, and the greater return on your investment in advertising you'll see.
Smart Ad Placement is Key
Smart ad placement is key in property management marketing. Before you invest in placing an advertisement, you will want to identify where your target demographic goes for their information. Placing both physical and online ads can help if you know that they will be seen by the people who are looking for help managing their properties.
Think of your target demographic of property owners and landlords. This may include both new investment property owners looking to rent out a single unit or larger companies managing a portfolio with multiple apartment buildings or houses all over their city. Now, think about where these people would go, in person or online, for information and support for their business. Are they searching for landlord support groups on social media? Or perhaps searching for keywords like "property management in Southern California?" Do they attend conferences or meetings for property investors? Knowing where they are looking for information or support for their business can help you choose smarter placements for your ads.
Get the Hang of Social Media
Social media is quickly becoming an important tool in property management marketing. Research shows that the number of people on social media has been increasing steadily, with 3.8 billion people reporting a social media presence in 2020. While social media was once for teens and young adults, it is now common to find people of all ages and all types of companies on major social media platforms such as Facebook, Instagram, and LinkedIn.
Note only will social media help expand your potential reach, but it will also allow you a new way to advertise. Note that before advertising on social media, you will want to have an established presence- which means creating a profile and establishing a modest following.
Holding Advertising to Content Standards
While advertisements are simply a type of content, you still want to hold your ads to a high standard. This means creating advertisements that are relevant, high quality, and helpful for your target audience. Before you run an advertisement make sure that:
- The imagery is enticing and captivating
- The information is relevant and interesting
- The ad as a whole is unique and eye-catching
- That there are no spelling errors or typos
Before you approve an ad, ask yourself; "Will my target demographic find this appealing?" If the answer is no, it's time to go back to the drawing board.
New property owners go through a similar process as they begin navigating becoming a landlord. When they choose to purchase another property, they enter another process. Property owners or companies with a large portfolio follow yet another process.
Understanding the stages of these processes, and the journey that your target audiences are on, will help you to better tailor your advertisements.
For instance, when a property owner decides to buy their second property, they're suddenly faced with double the work. Some of this work may overlap, which can make managing both properties possible a challenge. At this stage, landlords might be looking for help performing maintenance on their properties or answer 3 a.m. emergency calls. They may also be looking for helping to choose another property to purchase.
Property owners with a whole portfolio will likely already have help with maintenance or will have a system in place that at least allows them to get the work done. Instead, at this stage in their journey, they might be looking for help with marketing many different properties to potential renters to reduce vacancies.
Targeting your buyers wherever they are in their own unique journey will make your paid media strategy more effective.
Advertisements as Inbound Marketing
The goal of inbound marketing is to draw consumers by providing valuable or entertaining content with the goal of getting your customers engaged with your brand. The ideal inbound marketing strategy will attract consumers to your brand, encourage them to engage with your existing brand content, and delight them by providing help and support.
While learning the details of advertising may seem tedious, it will certainly save you money, and money, in the long run. After all, you do not want to spend money on an advertisement and come up with zero leads.
If you're ready to optimize your paid marketing strategy to start boosting traffic and increasing quality leads, sign up for our free PM Paid Media Strategy Course today!