It’s pretty simple: the faster you can turn around an empty unit so that there are as few days of lost income as possible, the more profitable you (and your clients!) will be. When you are trying to rent out multi-family properties, it’s vital to have a few key property management marketing tools to make sure your rental unit is filled quickly with a high-quality tenant.
5 Essential Marketing Tools
Across Canada, there are thousands and thousands of property management companies. And when you’re up against that kind of competition, you need a targeted marketing strategy and the tools to execute on it. That’s why multi-family property management companies rely on property management marketing tools to maintain listings, generate leads and stay top-of-mind with prospects. (If you are putting together your growth strategy for 2024, dive into this guide to setting profit goals.)
Let’s look at five of the must-have property management marketing tools that help to turn leads into leases.
1. Automation
The more you can automate, the more scalable and efficient your marketing process will be. Automation, like the ability to automate responses to potential renter inquiries, saves hours per week. The other huge advantage of automation means that you can calm the chaos of multiple ILS channels. For instance, Property Vista’s internet listing syndication feature allows you to update multiple listings on multiple ILS platforms with new photos, new floor plans, and rental rates all in one place, right within the platform, so you can fill vacancies faster while freeing yourself from manual work.
2. Prospect Communication Tools
When it comes to prospects, the rule of thumb is to communicate early and often, and on whatever channel is most convenient for your lead. From the ability to communicate to leads via email, SMS, phone, and intercom (and track them all the way through the prospect funnel) to automated call routing and lead distribution, you need an arsenal of powerful communication tools at your fingertips to ensure that prospects get the decision-making info they need and no one slips through the cracks.
Pro Tip: Shorten lead-to-lease cycle and qualify leads automatically with a 24/7 chatbot. Our code-free AI chatbot can be set up in minutes with a few simple steps. It is always available on your website to respond to inquiries, qualify leads, and book tours.
3. Omni-Channel Attribution
Data-driven insights help you refine and optimize your marketing initiatives. How are potential renters finding your available units? Are you getting referrals from organic search, a specific listing service or old-fashioned print media? Don’t waste precious marketing dollars. Invest in the channels that work and cut out the ones that don’t. Insights into which channels drive the best leads helps you to optimize your investments to lower cost-per-lead, improve lead-to-lease conversions, and boost rental occupancy. Ideally, you should have a lead management tool built specifically for multifamily property management to help to attribute your leads
Pro Tip: Take a look at our complete guide to multi-family lead management.
4. A Conversion-Driving Website
Did you know over 90% of the people who visit your website aren’t ready to commit? And, quite frankly, that’s okay. Because your website’s job is to move them further along the funnel – to fill out a form to get more information, see a virtual tour, or book a visit. This means that your website has to give potential renters the self-service they want: the ability to get more info about an available unit by text message or email, receive alerts about upcoming vacancies or book an appointment to see the property. Of course, it goes without saying that any website today must be responsive and look good on both desktop and mobile.
Build websites for your listings quickly with our intuitive website builder, Vista Websites. We provide the templates so you can simply plug and play. No technical experience required!
Pro Tip: Savvy marketers also use Google Analytics to examine their most popular pages, engagement rates, and website traffic over time. Get tips on how to increase conversions here.
5. Real-Time Insights
Without a cloud-based property management solution with real-time data, decision-making marketing information is isolated between departments and even “siloed” in spreadsheets on someone’s desktop. When property management professionals have access to real-time data about all their properties through a cloud-based solution it means that all information that is current, comprehensive and consolidated.
When you can monitor your business with real-time marketing data it becomes easier to lower costs, generate more revenue, attract new tenants, and ensure your company's success. With a consolidated dashboard, property management can dig deep into follow-ups, conversions, engagement and call logs, no matter whether it’s from an individual, building, or portfolio level.
How Property Vista Helps
Property management marketing software gives you transparency into your digital marketing efforts so you can better spot where your ads are bringing in the most amount of quality leads. To learn more about how Property Vista can help give your marketing efforts a boost, including mobile-friendly websites, ILS automation, and much more, be sure to check out our pricing and book a demo at propertyVista.com/pricing.
