The most common question we get from customers – both new and old – is “how can I get more leads?” Whether a client has a monthly marketing budget of $300 or $3,000, every property manager who is trying to grow to the next level wants as many new customers in the pipeline as possible.
Below are three best practices All Property Management Account Managers Jennifer West and Jack Hoffman recommend to clients seeking more leads. Over the years, West and Hoffman have helped hundreds of customers optimize their presence on AllPropertyManagement.com and significantly grow their portfolios of units under management.
Widen Your Reach
When most property managers start working with All Property Management, they’ll normally seek property investors within a 25-mile radius of their office. But if you’re finding that leads are declining in your immediate area, it’s time to consider expanding to a larger geography of, say, 40-miles. You might even add selected zip codes in areas where you think other property managers have avoided. Maybe you can develop an efficient way to address that business by contracting with others or, once you land enough new accounts, you can possibly cover the cost of additional staff.
For the property manager expanding outside his or her immediate area, programs can be customized to meet unique growth strategies. Some of All Property Management's largest customers have expanded their business by adding neighboring states or even leap-frogging into promising markets across the country. And when they were developing their market entry plans, they consulted All Property Management. Working with an account manager, they explore areas where there is property investor demand, but little competition. Or, they learn about areas that might be highly competitive that they may want to avoid.
Consider Managing More Categories of Properties
If your current inventory consists primarily of single-family homes with values, say, $300,000 and below, you might consider looking for leads from property owners with home values greater than $500,000. Or, you might try going after leads from single-family homeowners’ associations, condominium associations or even multi-family communities.
While entering a new category may be a bit outside of your comfort zone, the demand among property owners in categories new to you might be high, providing additional leads. And this new business might also lead to new client referrals that fall within your current core business.
Fund Your Account Through the End of Each Month
It’s important to budget properly so that you are getting exposure to potential clients throughout the entire month. You may want to bid up your lead prices to ensure a key placement in search results at the beginning of the month, and then lower your pricing during the later weeks. Customers who allow their marketing budgets to run out in the first two weeks of the month lose a significant amount of exposure and end up losing out on potential leads.
All accounts are set up to provide All Property Management customers with an automated email when their account balance is getting low. Call your account manager and discuss ways to potentially stretch your marketing dollars and be sure to replenish your account in a timely fashion to ensure your marketing lasts through the final day of the month. Better yet, your account can be set up to automatically replenish when it falls to a certain level. Again, your account manager is the best resource to help you figure out how to efficiently run your marketing campaign as well as make sure you’re in position to benefit should unanticipated demand arise during the latter weeks of the month.