The term social media is huge. It includes many different platforms, techniques and strategies. However, they all boil down to one primary opportunity …they all help you earn attention online.
I can tell you from experience that social media marketing does work, if you have the right expectations.
Social media MAY work for your property management company too. But, before you dive into the social media deep end, you should make sure you’ll be able to swim (or at least stay afloat…)!
Why Property Managers Should Use Social Media
- You’re a giver.
Social media is about sharing stuff for free. It allows you to spread information you’ve found valuable or that you’ve created yourself. For instance, you might write a blog helping rental home owners understand how the improved housing market may impact market rents in your area. Social media is not about you.
- You’re attentive.
Social media is about conversation. If people comment on something you’ve said or shared, you need to be available to respond. Think of these social channels as another “phone line” into your office. If you don’t answer the phone, you miss opportunities and may lose existing clients. This is also true with social interactions. In fact, conversations that take place through social media channels can be even more demanding since the “office” is open 24 x 7.
- You’re building a “brand.”
Social media is about visibility. It allows you to reach people who may never hear about you otherwise. If you build a loyal network of followers, they will multiply your circle of influence by sharing your comments and content with their own networks. Do you want to be the “go to” expert on property management for your locale? Social media can help you get noticed and establish your expertise.
- Your marketing budget is limited.
Social media is inexpensive, easy to set up, and easy to operate.
Why Property Managers Should NOT Use Social Media[hr_invisible]
- You always expect to get something in return.
Social media ROI (Return on Investment) is very hard to measure. While you may not be investing a lot of money, you are investing time in watching for topics, creating articles, conversing, and more. The people who interact with you through social media are often already a client or other business/personal contact. When you do encounter prospects, they are generally less “qualified” than the ones who call you directly or visit your company website. If you are looking for immediate results, then another tactic may work better for you.
- You don’t like people much or you like them too much.
Either of these extremes can be a problem. If you don’t like interaction, then you may become inattentive and eventually your social pages will look like a vacant property – not very attractive and inviting. If you like people too much you might allow social media to distract you from your core responsibilities.
- Your service reputation is struggling.
Social media conversation is open for the world to see. And…you can’t control the conversation. If you already have trouble providing top-notch service, you may not want to open the door to public criticism…yet. Work on clearing up the problems, and then initiate a social marketing campaign to strengthen your reputation.
- Your available time is maxed out.
Social media marketing takes time. You must schedule it into your daily routine to be consistent and effective. And, the goal of a marketing initiative is business growth. If it’s tough to keep up now, consider the implications of growth might have. It may be a mixed blessing that you’re not quite ready to receive.
If you decide that you or someone else on your staff is a good fit for social media marketing, then you have some additional choices to make. In my next article, I’ll talk about some of the most popular social media platforms and how you can decide which one works best for your property management business.
Disclaimer: LandlordSource does not represent the article content in this website as legal advice. It is shared information only and up to the reader to use this information responsibly, seeking legal advice as necessary to their business.