Generate More Property Management Leads Using These Proven Online Strategies
By Landon Murie
December 3rd, 2020 (updated)
Want to grow your property management company?
So you have a property management company and you are looking for ways to generate more leads online?
You have come to the right place for the most comprehensive and up-to-date list of lead generation strategies for property managers with actionable steps you can start implementing right away in order to drive more attention to your business.
We are going to outline what we have found to be some of the most effective digital strategies so that you can find (or rather, be found by) these owners who need your property management services.
Property Owner Leads Fall Into Two Categories
1. Actively Seeking/Interested
These property owners are already actively looking for a property manager. You want to be found by those people the most, because they are the hottest leads who are already looking to sign up with a management company (you of course). You get found by these leads by focusing on the digital strategies we will cover today.
2. Self Managing/Unaware
These property owners are self-managing their property and might not even be aware of what a good property manager is. Either that or they are just not interested in it. These owners are going to be harder to reach, and are not looking for a property manager, so it requires a lot more time and effort through activities like cold calling (uh, who has time for that?) with a lot of sales and follow up skills.
Because of this difference in lead types, the strategies we will talk about today will cover the preferable "Actively Seeking" property owner leads and how you can get them.
What should you even be spending to acquire new clients?
Before choosing what strategies to go utilize, it's pretty important to understand what the value of a new client is to your property management business.
Different ways of getting leads come with different costs, and you want to know what makes the most sense for your situation and budget.
Here is how you calculate the profitability and lifetime value of a new property owner client:
Let's say that your average management fee per client is $100 per month, and on average, clients will have you manage their property for 4.5 years.
Multiply that $100 per month x 54 months (4.5 years).
That total income over 4.5 years comes to $5,400. Meaning on average, a new property owner client is worth $5,400 in revenue to your business.
If your average profit margins on managed properties are 80%, that would mean your pocketed profit for an average property management client is $4,320 ($5,400 x 80%)
Meaning, a new clients lifetime value is $4,320. This leaves you a lot of room in the budget for what you can spend on property management leads, also known as client acquisition costs (CAC).
Using the example figures above, even if you spent $1,000 to get just 1 new property management client, you would still profit massively ($3,320).
What does this mean?
It pretty much boils down to the fact that in most cases, depending on your profit margin, these leads are extremely valuable to growing your business.
Let's move on from the nerdy stuff and get into the actual strategies you will be using to grow your business.
The Best Online Strategies to Attract More Property Owner Leads and Grow:
The strategies you use and the amount you have to spend on lead generation will be different depending on what stage/size your business is in.
Larger established firms might have larger budgets and more resources they can allocate toward this.
Smaller companies that are just getting started might focus on some of the most essential needs and put off others until later when the cash-flow allows.
Because every company is at a different stage/size of their property management growth, we will separate our list of strategies into 2 categories:
Critical strategies for property managers at any growth stage (Managing 0-50 doors)
Advanced strategies for established property managers (Managing 50+ doors)
1. Critical Strategies for Property Managers at Any Growth Stage
No matter what stage your company is in, you can't ignore these first few. If you do, you'll miss out on both short-term growth and long-term growth.
Most prospective property owners consider a few things without fail when they are looking for a property manager to hire, and if you don't have these covered, you will simply lose a lot of opportunities to your competitors.
You Need a Stunning Website That Wows and Converts
What do we all do when we are considering hiring a company and we want to learn more about their services and check if they are legit? We check out their website.
Property owners are no different, and they will without a doubt want to check out your website, whether they originally found you online or not.
Your website is one of the first chances you have to impress potential property management leads and build trust with them. Comparing the first glance on websites below, who would you be more impressed with? Probably the modern design on the right.
Having an up-to-date website that is fully SEO optimized and acting as your salesman 24/7 is important for your company at any stage, because regardless of your size, it's a huge factor that is going to build trust and confidence with potential property management clients, and make sales for you while you sleep (literally).
Evaluate your current website compared to your top competitors, how does it stack up? You might want to ask others for their opinion or even get the opinion of a marketing professional, since your own opinion is likely a little biased. If you need a new website, or you don't have a website yet, start looking at stunning property management website options like ours.
Getting Reviews and Improving Your Reputation Online
Along with checking out your website, prospective clients are also going to check out your online reputation. People want to know that they will be working with a reputable company who takes care of their client's concerns and has mostly satisfied clients.
Which of these companies below would you want to work with based off of the reviews? You likely wouldn't even need to think about it.
Unfortunately for property managers, as you may already know, tenants are often the ones who feel unhappy enough to go online and voice their frustrations and complaints, whether justified or not.
Because of this, property management companies often have poor online ratings, and need to be working proactively to improve their reputation. You should see this as an opportunity to stand out by having a better reputation and rating than a lot of your competitors who are ignoring this critical blind-spot.
Your prospective clients who find you online are going to look at your reputation and maybe even read some specific client reviews, so make sure you are doing what you can to improve this and get your happy clients to share their experiences online!
If you are a new company and don't have a reputation, you are in luck
Start off right by utilizing a system to ask happy owners and tenants to share their experience with an online review posted on your Google business listing, Yelp, or Facebook.
If you are an existing company and already suffer from a bad reputation
Get help with your reputation management and start piling up more 5 star reviews from happy clients to increase your rating and drown out the negatives. Respond to negative reviews genuinely, and try to be reasonable.
2. Advanced Strategies for Established Property Managers Who Want To Scale Their Business (Managing 50+ Doors)
Create a content marketing plan for your website
Creating helpful, unique, in-depth website content and blogs that answer property owner questions is a great way to generate inbound Landlord leads for months and years to come.
In order to do this, you are going to want to create informative content that is based on your local keywords or "search phrases" that local property owners are searching for online.
Creating the right content and doing it the right way is absolutely critical. This is a major foundation or your marketing campaign and you can't afford to do it wrong.
Create "SEO friendly" content by following these guidelines below
Answer real questions property owners have with helpful info
Focus on your target audience and your keywords
Provide real value, give people helpful info they can actually use (like in this article)
Go long - Longer, descriptive content is loved by search engines
If you need help, work with a company like Goodjuju (us) that specializes in doing this the right way for property managers.
In-Depth Search Engine Optimization (this ain't your momma's SEO)
Remember when we talked about being found online by the property owners who are actually ready to hire a property manager, and "actively seeking"? That's where doing the important SEO strategies the RIGHT way comes in.
Being found on Google by property owners who are actively looking to hire a property manager is the ideal type of inbound lead. All you have to do is sit and wait. People come to you. No chasing down Landlords at meetings, no begging for referrals, no cold calling.
SEO gets you found by property owners online in two ways: Local results and organic results
Local "map pack" result
Each of these requires a lot of different in-depth SEO strategies and knowledge regarding:
Keyword research and content mapping
Analyzing your competitors strategies
Content Outreach and link building (the hardest part and holy grail)
Monitoring and reporting
SEO is a long term strategy that pays off with organic traffic, clicks, and leads for months and years to come, but it's not an overnight ordeal. This is an investment into your business.
If you are a company who wants to scale in the coming months and years, you should consider working with a company who specializes in SEO for property managers.
Run Paid Ads on Google (PPC)
Another way to be found by property owners who are looking for property management is to run Google Ads that will show up in the search results when someone types in something related to local property management.
Google text ad example
You can choose what specific Google searches your ad will be shown for, like:
"property management in (city or county)"
"property management company in (city or county)"
"property managers in (city or county)"
You only pay when someone clicks on your ad. When they click on your ad, they will go to a landing page on your website.
Running ads on Google is great lead generation strategy for property managers, but you need to make sure you know what you are doing with keyword types, negative keywords lists, ad copy, and optimization. If you don't, you will waste a lot of money on unwanted ad clicks that come from searches you are not even targeting or areas you don't want to target.
You can try to create a Google ads account, campaign, ad set, and ad to send traffic to your landing pages yourself, or you can hire a professional marketing agency to set it up and manage it for you as part of your marketing campaign.
Email Marketing to Your List of Property Owners
If you have a list of property owners that you have compiled from website forms or other lead magnet strategies, you can develop a sequence of automated emails that go out periodically with updates and local property management related info. This will help you stay on these owners minds so that you can be the first person they think of when they have a question or need help managing their rental property.
Create Helpful and Informative Videos for YouTube and Your Website
People tend to hire companies they feel stronger connections with. Rental property owners are no different.
To create a more personalized experience and build more trust with your prospective leads, having videos on your website to introduce your company, your people, and your services is a great hack that you can use to maximize your brand confidence and trust. There are also SEO related benefits because people will be spending more time on your website pages on average and this is a metric search engines like Google care about.
Your videos don't necessarily have to be expensive, you can film them and put something together yourself if you don't have much of a budget (but the more professional the better). The most important thing is being genuine and building a connection.
Now you are ready to take over the world (or just get some leads)
These property management lead generation strategies really do work if you put in the time and effort or hire a professional to take care of them for you. Contact us at Goodjuju if you have any questions or need help getting started with these in your business.
Choose which tactics and strategies make the most sense for you and your business and dive right in, head first.
Seriously, what are you waiting for?
We Help Property Managers Get More Leads
Hear from some of our clients
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