Email marketing is simple, and very cost effective. The reason it is much better than just sending a bulk email out via Outlook is because you know exactly who opened the email – you can then target them specifically. You get much better stats than you would if you went blind just sending an email via Outlook. It’s also very cost effective and you can design very nice newsletters that look professional. If you want to look into email marketing further, check out Mailchimp. They are a great leader in the email marketing industry.
Networking
Networking is not a preferred strategy because the results I generate are directly proportional to the time I put in. Other strategies like SEO and PPC and having a direct response website work for me 24 hours a day, but networking only works if I put the effort in. However, in saying that, networking is a brilliant way for getting your name out there and sourcing new business. I recommend you do a search online looking for networking groups in your area. A great group that you can join is BNI; this is a focused networking event held weekly where you refer business to each other in the room.
With networking, it is important that you follow the ‘Go Giver’ principles (check out The Go Giver by Bob Burg and John Mann). Essentially this means that you give before trying to gain. The reason most people fail at networking is because they always try and get new business before helping anybody else out. Keep this principle in mind when networking, and you will be much more successful than the majority of people who try networking but don’t have much success with it.
Networking needs to be done by the head property manager or the owner. I personally do not recommend sending staff because they often don’t have the same passion you do, since frequently they don’t benefit from new business coming in. If, however, you can reward them for bringing in new business (as discussed in Part 2), sending a responsible staff member to act on your behalf can work very well.
Summary
At the end of the day, no one strategy will bring in massive results; but collectively they will work well, and this is why it is important that you dedicate the time required to marketing and promoting your property management business.
Currently I own and run a property management business as well as doing marketing for other property management companies. I have noticed over the past year that you need to have five to 15 strategies in place at any one time to consistently have positive growth every single month. Rely on one or two marketing methods, and there will be months when you have negative growth.
If you would like to speak with Aaron directly for any property management marketing, contact him at aaron@propertymanagementprofits.com
