We all know why brand matters to consumer giants like Apple, Ford Motors and Coca-Cola. They are the height of brand recognition. And, research shows that companies with strong brands generate much higher sales and profits.
Make no mistake about it: a recognizable and respected brand is one of the most valuable assets a company – property management or otherwise – owns. A smart brand strategy can work just as hard for mid-sized enterprises as it does for these goliaths.
To attract more owners, fill your properties with qualified renters, and gain a competitive advantage, you need to differentiate your organization and implement a solid brand building process of your own.
Here are three solid tactics to help you put effective branding strategies into place for your business.
Do Your Market Research
You’re not the only property management company in town, and chances are you’re going after the same target market (both prospective tenants and owners) as your competition. Evaluate what they are doing, and how they are positioning themselves in the market. Do a SWOT analysis to figure out your own strengths and weaknesses and where there may be threats or opportunities. Identifying ways to differentiate your property business will help you stand out from the competition.
Know Your Story
Branding is the ongoing effort to shape your audiences’ (tenants, owners, employees, etc.) perceptions. Every successful brand has a great story. They are clear about their vision and mission. They know their purpose and how that affects every customer touchpoint. No doubt, your organization has a tagline or vision statement that represents your brand. However, when was the last time it was reviewed? As time goes on, the marketplace and your audience’s expectations shift – the paper-based property management of 10 years ago is a dinosaur today.
Businesses shift over time – sometimes it’s due to a merger or acquisition, or leadership change or a change in technology. What once worked to get you to where you are now, might not get you to where you have to be. Take stock of your branding to see if you need a refresh or rebrand.
Your unique value proposition (or unique selling proposition) tells the customer how you are going to make their life better by choosing your property management company. Take the time you need to get clarity around how you serve your customers and what value you bring to them. Factor in what their customer journey experiences should be and how you’re positioned in the market. These are the pillars to your key messages to your various audiences (owners, tenants + employees). Then communicate that story in every aspect of your external marketing and internal operations.
Create a Cohesive Look
Sure, you have a logo, but a brand goes well beyond a logo and font. Ensure consistency across your property websites. Some marketers grow bored with their brand messaging and identity, and try to “change things up.” However, you need to remember your target audience doesn’t live with your brand every single day and a consistent look is required to build awareness and connection. Using a centralized repository for all marketing materials helps keep control over your brand.
Your social media pages, any advertising (online advertising and offline signage, etc.,) or any other place where you can include your logo, you should include your logo. Be sure to create a brand guideline that covers the voice and tone of your company; this ensures that anyone, from your marketing head to the intern that started yesterday, can create messaging that sounds like your business. Every person in your organization is a brand steward.
How Property Vista Helps
From easy-to-use, professional website templates to customer portals to marketing automation, Property Vista gives you all the tools you need to solidify and grow your brand. See pricing and book a demo here.
