The internet is always changing, and it’s hard to stay a step ahead of those developments. Property managers trying to establish themselves online need to understand social media and how it’s best used for your business.

There’s always some new platform or site that’s driving your mates bonkers, but and it’s tempting to jump onto every new social site. But, you need to be strategic. Before you create a new social media account for your property management business, ask yourself these questions:

  •       Do I know how to use the platform?
  •       Do I know who is on there, and how they’re using it?
  •       Is there a clear way this social site can help my business?
  •       Will it be worth my time to maintain and update this site?

Instagram and Property Management

A good example is Instagram, a photo-based social network where you can post photos and videos. About 59 percent of adults 18-29 use Instagram, while 33 percent of 30-to-49 year olds are on the platform. Many property managers like to upload pictures of their available rentals, and this will help you find tenants.

But, if you’re looking to attract owners and new property management leads, you might be distracted from other opportunities while you’re busy on Instagram. You’ll also need to put in some work. Any vacancy photos of recently rented listings will need to be taken down.  

Principles versus Platforms for Property Managers

At last year’s PM Grow Summit, we heard from Marcus Sheridan, who discussed Principles versus Platforms. He said that over the last 10 years, over 70 social media networks arrived on the scene, but only about 30 of them still remain. Out of those 30, a dozen of them likely won’t be around for much longer. So, there’s a lot of volatility in social media.  

It’s easy to get excited about every new trend, including social media trends. Those are platforms. You cannot let them interfere with your business growth, which is your principle. Don’t jump onto the next social media bandwagon without thinking through your strategy.

Does Your Business Need Facebook “Likes?”

Property managers always ask how many likes they should chase on Facebook. But the real question is how much value are those likes bringing your business?

According to an article in the Harvard Business Review, there are two major misconceptions about Facebook likes:

  •       Facebook likes result in new customers.
  •       Someone who likes your business will bring their friends and family to your business.

But, simply liking a Facebook page doesn’t change consumer habits or increase the likelihood that more money will be spent on our services. Most people who like you on Facebook are going to be existing customers

They already like you.

How to Use These Social Media Takeaways

If someone who likes your business page already likes you in real life and is probably an existing customer, getting a like is not the end game.

So, what do you do?

You ask for a referral on your Facebook page. This will help you get something out of that Facebook like.

With any social media, the objective is to understand what your business needs, and to understand how social media is a tool to help you reach your goals. Social media can be overwhelming, but if you stay focused on how it can help your business, it won’t seem so scary.  

If you have any questions about growing your property management business on the internet or with social media, contact us at Fourandhalf.