If you want to find the right leads, you need to maximize your marketing dollars with some guidance. If there's one rule to property management marketing, it's this: go where your customers are. In the year 2020, that means you'd better get savvy about social media marketing.
At this point, no one has to explain to you what social media is or why it's important, but you might still be surprised by a few facts and figures. For example, 73% of American adults use social media, according to a recent report from the Pew Research Center.
Those numbers skew even higher when you focus in on millennials, who are increasingly starting to get into real estate investing as a vehicle to grow their wealth. Out of all age groups surveyed by Bankrate, millennials scored the highest for their interest in real estate at 36%. These are your future clients.
Looking at the Numbers
You can approach marketing your services to investors in a number of ways. There are still opportunities to find clients through tried-and-true methods like print advertising (mailers) and an online presence aside from social media (your website). However, potentially reaching almost two-thirds of the American population in one fell swoop is no small feat!
Here are a few other social media stats that show how powerful it can be for property management marketing:
- YouTube remains the most-used social media site, with 73% of American adults saying they use the platform. Facebook (69%) is not far behind, followed by Instagram (37%), Pinterest (28%), and Linkedin (27%).
- Instagram is especially popular among younger generations. About 75% of those ages 18 to 24, and 57% of those ages 25 to 29, say they use the site.
- Facebook use varies little among age groups, with 68% of those ages 50 to 64, and almost half of those 65 and older, saying they use the site.
- The majority of social media users say they visit these sites every day. Among Facebook users, 74% say they visit the site daily—and 51% say they visit the site multiple times a day.
Tips for Marketing With Social Media
With all the ways social media can potentially put your property in front of a wide audience, its power as a property management marketing tool is clear. Using social media for property marketing in 2020 is no longer just one option among many; it's essential. Still, the question remains, how best to use social media to your advantage?
Make a Plan
You can't start a social media marketing campaign without knowing what you're aiming at! Imagine renovating a property without knowing what the final product will look like! You warn your clients about launching headfirst into projects without actionable plans; now the shoe is on the other foot. Your first job is to identify your goals.
Social media, as a component of property management marketing, has the power to accomplish several things:
- Increase awareness
- Gain followers
- Grow engagement with your posts
- Start conversions.
Create Great Content
When it comes to social media, throwing everything at the wall to see what sticks isn't a great strategy; neither are random acts of marketing. It's important to create content that is relevant, useful, and engaging; don't post just for the sake of posting! Focus on how each post helps you achieve your goals.
Use the Power of Imagery
A picture really is worth a thousand words! On social media, it might be worth even more, especially on photo-centric platforms like Instagram. Photos have the power to visually showcase your services and properties, so use this power to your advantage. Hire a professional photographer if you have to, but make sure every picture you post is a great one.
Engage With Users
The true power of social media is that it's a two-way street. It's not just about putting ads for your properties in front of potential tenants or interrupting potential clients with "LOOK AT ME!!" marketing tactics; it's about starting conversations, engaging with users, and making them feel engaged. There are a few ways to do this:
- Make your contact information easily accessible across all platforms
- Answer any questions that are sent to you through social media
- Use features like polling on Instagram to get users to actively participate in your social media
- Don't ignore comments—even negative ones—but always respond with positivity.
Be Careful About Cross-Posting
While it's a great idea to use multiple platforms, keep in mind that they're all different. Sure, there's software available that allows you to post the same content to all your social media platforms with one click, but this kind of cross-posting can harm more than help if it's done haphazardly.
What looks great on Twitter might not translate to Instagram; it makes you look lazy. Plus, users could be turned off by seeing the same posts multiple times.
Connect With the Community
Most people love the feeling of being part of a community, and social media has the power to do this. Social media offers an opportunity to present yourself as part of a larger community, especially if you have multiple rental properties in the same area. Tag other local businesses, emphasize neighborhood features, and focus on your role in the neighborhood when using your social media presence to target renters.
When it comes to your clients, offering great content that connects them to information they can actually use is a great way to make yourself stand out.
No Marketing Campaign Is an Island
The importance of social media in marketing your rental property cannot be overstated, and our team at RentBridge understands this. We also understand that managing your business is a full-time job—and targeted property management marketing might not be one you have time for.
However, when it comes to growing your leads organically through inbound marketing, social media is a juggernaut that should not be ignored. When it works in conjunction with a beautiful, well-polished, and functional website, the impact is even greater!
Speaking of your website, has it been effectively helping you convert your leads? Even if you have an incredible social media presence, a poor website can cause your converts to lose interest! Before you craft a successful social media campaign, you should always ensure that your property management website will be ready to meet demand.
Why not start with a free, fast, and easy website audit from RentBridge? Crafting exceptional websites for property management is just one of the things we do to serve the needs of our clients.