All property managers want to increase the business their company is attracting. To do that, what marketing strategies are you using: inbound or outbound property management marketing? Which is better?
If you’re about to Google “What is inbound marketing?” don’t worry – we’ve got you covered. We know that not everyone understands those terms, so today we’re talking about what they mean and how they help your property management business.
Inbound vs Outbound Property Management Marketing:
Inbound Marketing Tips and Tactics
Inbound marketing embraces methods that bring property owners and investors to you. They find your company by looking for a solution to a problem they might have.
In some cases, you’ll hear from new owners because they understand that they want property management, and they’re actively looking for a company that can provide it. They’ve searched online for property management services in their area, and maybe they’ve found you.
In other cases, they’ll be self-managing landlords or rental owners who have run into a problem. So, they might be searching online for how to handle a tenant’s bond or what the Residential Tenancies Act requires for rental increase notices. They might find that your company has answered that question and they’ll get in touch with you.
Inbound marketing puts you in front of people with your website and your online content. Your social media posts, online advertising and your educational materials all bring people into your company’s doors.
Outbound Marketing Tips and Tactics
Outbound marketing is different. Owners aren’t finding you; instead, you’re introducing yourself and your services to them. You’ll find them through prospecting or leaving flyers in mailboxes. You’re interrupting their daily lives with information about your property management company and how your work might help them.
Not everyone is comfortable with outbound marketing. Some people are uncomfortable selling themselves or contributing to the noise that already exists in the marketplace.
Strategizing with Inbound and Outbound Marketing
A good balance between inbound and outbound marketing can bring in new business and help your property management company grow. Inbound leads will be warmer and more comfortable, because they’re coming to you. Outbound leads are likely to be a bit colder, but they may include people who didn’t know they needed you. If you avoid outbound marketing, you’re depriving your company of opportunities to get your name out and get people familiar with your brand. You want to reach all of these potential property owners who need you and your services, but they just haven’t gone looking for you yet.
At Fourandhalf, we recommend that you adopt a strategy that uses both inbound and outbound marketing. It’s a very good idea to continue doing your content marketing, but you should also have your BDM reach out to new people and get potential customers familiar with your company and what you do. Consider starting some social media ads so you have a good chance of popping up in their news feed.
Use a combination of both marketing practices so you have the most marketing opportunity.
If you have any questions about this or any topic surrounding property management marketing, please contact us at Fourandhalf. We’d be happy to have a discussion that’s a bit more in-depth.