Heather Park
Property Management Marketing | Marketing Goals

5 Ways to Out-Market Your Competition

Written by Heather Park
Jun 14, 2018   |   7:40:00 PM

If you don’t already have a marketing plan for your company, you need one. Successful property management marketing will help you bring in new business, continue nurturing the trust of your current customers, and set you ahead of your competition. How do you get ahead of your competition in an age of marketing saturation?

Know Your Brand

You should have a clearly defined unique value proposition, brand voice, visuals and theme that remain constant throughout all of your marketing efforts. These unified elements help your potential customers to remember you and build familiarity with your brand. The unknown can be a little scary, so your priority is to begin building trust with a consistent message.

 

Brand

Plus, the more familiar and comfortable potential customers are with your brand, the more likely they are to remember you when they need a property manager or are looking for a new rental.

Know Your Competition

Keep your friends close and your enemies closer. While the competition isn’t your enemy, that same concept applies here. To set yourself ahead of the competition, you need a benchmark of what that competition is doing. Research your competition thoroughly, learn what is and is not working for them, and then take the parts that are working and improve upon them - if those elements that are working also apply to your business.

This “if” is pretty important. If your competition is ruling the market because they are vastly undercharging for services or aren’t billing reasonable fees that they should be, you don’t want to lower yourself to that level. Instead, use your unique value proposition to communicate to your customers why your service is the better value, fees and all.

Embrace Inbound

Inbound marketing is a crucial tool in your toolbox which is why every time we talk about property management marketing we mention it. Inbound marketing for property management helps owners find you, instead of you having to hunt them down. If all of your competition is still marketing the old way, you will take a huge leap ahead of them by launching an inbound marketing campaign for your property management business.

Create Winning Content

 

online marketing

 

Winning content goes hand-in-hand with inbound marketing. In fact, you cannot have inbound without content, but if you’re still not running a full inbound campaign, you can still create great content for your audience.

Establish yourself as a thought leader in the field. Through creating worthy content, you will attract owners and tenants who are online asking a question. Be the one to provide the answer for them, and you will earn instant points.

Provide Better Service

Finally, property management is a customer service centric business. If you delight your customers regularly, their reviews and feedback will add credibility to your marketing efforts.

Further, find ways to provide services that your competition is not offering that will continue to delight your customers and set you apart. These services don’t have to be elaborate or break the bank. A filter replacement program that owners can add for a fee or a lawn care package that you can offer to your tenants as part of their rent can both be a way for you to earn a little bit more while also providing exceptional service that others in your area are not delivering.

Finally, always track your marketing budget. You need to know your customer acquisition cost so you can learn over time which of your marketing efforts are the most successful.

Marketing Budget Calculator

How do you set yourself apart from the competition? Comment below and subscribe to our blog for more property management solutions delivered to your inbox weekly.