In the December edition of Elite Property Manager magazine, I interviewed a fantastic group of leading property management marketing experts. We discussed the hottest marketing topics, including what marketing tactics have worked this year in their property management businesses:
Video Transcript: Property Management Experts Discuss Marketing: EPM
0:03 Hi! I’m Fiona McEachran, from Console, and I’m here today to talk about marketing and property management. We’ve brought together a diverse group of agents to hear some real stories about what has worked for them in the past with marketing and property management, what challenges they’ve had, and what they plan on doing in terms of marketing into 2016 and into the future to grow their rent roles and grow their businesses.
What’s been the most effective marketing strategy you’ve used in your agency over the past 12 months to bring in new landlords?
Joel Fletcher: R&W Property Management – Umina Beach
0.34 I think to get to that point, you’ve really got to gauge where your new business enquiry is coming from. It’s something you should be measuring on a weekly basis, and what’s critically important is asking that question to every new enquiry, “How did you hear about our agency”?
You need to be making sure that your brand and the agent that they are looking to appoint as their representation, is really relevant to the consumer.
0.56 We looked at our process and how we were sort of perceived in the marketplace by asking those questions.
We found that our online presence was the main attracting factor.
We looked to the major portals such as realestate.com and domain, and that products that can really help us get to the next level and really can compete in isolation from our competitors.
01:14 We also had the launch of the R&W website, which is a beautiful website. It’s been a raging success so, in essence that, the main marketing strategy was really increase that tempo on realestate.com and domain. Within about 3 or 4 months by using that, we were able to completely dominate page 1 of both those websites in 2256 and 2257 postcode. We found that really stepped up our appraisal rate and certainly bring on around a hundred and fifty new managements in 12 months which is a fantastic effort for myself and the team.
01:48 So but it’s not just that, you know. You’ve got to be doing a culmination of things. It’s like casting a giant net out and that you just don’t do two things and hope it works. You got to get your internet exposure correct. Your site, it has to be perfect. Certainly more important is your database. If you’re not prospecting daily, and making immediate calls to prospective landlords, you really not going to grow your rent roll.
Sarah Latham: Latham Cusack – Lower North Shore
02:07 Well to be honest, we’re a fairly new agency. We’ve only been running for just on the three years. So, the first 12 months wasn’t really focusing on marketing so much as getting the business in order, setting up the processes and the systems, preparing ourselves for the new clients that were coming on board. We didn’t do a great deal of marketing. It was very ad hoc. So there were a few advertisements in the local paper. We tried out social media – Facebook, Instagram, a little bit.
02:33 I have to say though,
the most effective thing that we ran was a promotion to our existing clients which is tenants, landlords, and trades people.
We offered a dining voucher to the value of 200 dollars at Café Sydney. And from that, actually generated the most response. We had our tradies putting in a big effort for us because they often came across clients, with the one unhappy with their property managers; landlords, that had multiple properties that we didn’t know about; tenants, that had rental properties as well.
Douglas Driscoll: Starr Partners
03:02 As far as I know about myself and the brand, we’re big advocates of innovation and technology. Having said that, our probably biggest thing for this last 12 months is being about getting back to basics. So things like getting out and meeting landlords and potential landlords, so open homes. And not just that of your agency, but leads sometimes out of your competition.
03:22 The other thing that our offices have done quite well this year is they’ve really gone out and networked.
So they built up network referral groups,
so whether it be for solicitors, accountants, mortgage brokers. And just really build name reputation. And obviously as when they do get the recognition and referral, they reward them.
Tamsin Wilson: LJ Hooker – Parramatta
03:37 So our last 12 months, we’ve got being really big on focusing not only on our database marketing, but also online. Online for us has always been our passion. So we really do believe in making sure that we’re top of mind for everybody looking in either buying, or renting their properties, and of course getting it managed.
03:53 So being on top with our online marketing has been massive. Social media plays a part of that. So when we talk about online, I’m not just talking about the portals and our main ones but we’re also talking about Facebook, which we spend a lot of time Facebooking, Twittering. But actually focusing on giving content out to our people. But honest, I mean people are only ever looking at you from a real estate point of view so it’s trying to be engaging at that point as well. So, trying to understand what our clients actually want and actually be seeing on our Facebook pages is something that we’ve been focusing on over the last 12 months. But then in online, again, focusing on making sure that we’re top of those pages so that many eyeballs are seeing us.
04:31 And then we thought database. Just really making sure that we are getting our database marketing to everybody.
So understanding that our tenants are our future owners as well.
So working with our tenants databasing to them, making sure they’re seeing value in what we’re actually offering them to. And then databasing to our current owners. So people forget they have a gold-mind of current owners in their database. Now we’ve got nearly 18,000 in-house. So, being able to market to them and actually asking the question “How can we help you more? How can we help you reinvest?” So ensuring that our database and the technology offering that we have, is there for them.