The key to any business success is actually lies in the marketing … First let me explain the difference between Prospecting and Marketing … because I get asked this question a lot with my coaching clients.
Prospecting is essentially outbound marketing. The goal when prospecting is to chase people that may or may not be interested in the services you offer and, ultimately, convert them into clients. Traditionally in real estate businesses prospecting has been things like cold calling or door knocking. Others like to look at it in terms of one to one as opposed to one to many. – prospecting is one to one and marketing is one to many.
Running a business myself I know all too well that there are times when you want to be in prospecting mode. Prospecting will be the thing that helps draw clients from prospective to an actual “client.” So how this works inside my own business … when I have a list of leads either through my paid ads, my letter strategy or my website …. I call these leads (prospect to them) and introduce myself and the business to them … some might want to do business immediately others won’t those ones I have to keep in my funnel and nurture them, this might be weekly or monthly follow up calls and or emails.
Whereas marketing involves exposing your business to people who have never heard of you before. Great marketing efforts over the long haul of your business will have impacts on your sales efforts. It will shorten your sales cycles or help to raise your close rates by drawing in more of the right people and helping them to understand your key differentiators, your team will not have to reach as far and wide to close their new management deals. And includes activities like building a strong foundation for your brand through creating assets like logo or graphics that appeal to the right customers, helping them understand what you offer through your business’s messaging on websites and social media, consistently offering value by sharing solutions, advice, or helpful tips via email marketing, sharing your expertise or sharing your knowledge through blogs, demonstrating what it’s like to work with you through case studies, making it easier to discover your website through SEO, and even getting to know you better by hosting events or webinars, etc.
When your marketing and prospecting are combined to successfully generate new business this is where you have a thing called a funnel or pipeline. Your marketing has cast a net and captured all your potential leads, and then through your marketing brand, content and messaging you squeeze them through different stages in the funnel … then you might introduce prospecting and ultimately turn that lead into a paying customer.
Key areas to focus your marketing efforts on right now
There’s a few key things to consider when it comes to your website … 1. optimised for lead capture , 2. Your messaging demonstrating your expertise and value, 3. The front page needs a call to action call me or email me
It’s one thing to have a website but if potential leads can’t find you then it is pointless … Making sure you are putting time and effort (or at least your website developer is) into making sure you are showing up prominently in a Google search. The best way to do this is through your SEO or search engine optimisation.
3. Facebook Ads
I personally experimented with Facebook and Google Ads this year. They have played a major role in brand awareness and lead generation. Facebook ads in particular have led to a string of new business, mainly through the repetition of seeing the brand so consistently.
This is a powerful way businesses should be working with their leads coming into the business. A lead today, might become a client tomorrow, and that tomorrow might be one month from now or one year from now. Developing nurture campaigns is something that in my opinion hasn’t been done well traditionally in property management. Sales, or rather good sales agents do this very well. Property management only businesses can learn a lot from watching how leading sales agents work with their prospects and convert them into a listings. The principles are the same for new landlord’s, ad nurturing the relationship is going to more and more important as competition for new business grows and property market enters a new cycle.
5. Social Media
One of the things we are seeing more and more is businesses with a strong social media presence that will dominate 202, but the good news is people want to see real and authentic people and content … Gone are the days when perfection appeals to those we are serving in our businesses. Customers don’t want smoke screens. They want to see behind the scenes. They need to see that you are real and “just like them”. Importantly they want to know how you will be managing their investment and how you will do it different from others. Changing the way, you connect with your audience to ensure you are coming across as true and down to earth will be vital this coming year.
Storytelling has always been so important in marketing but it’s even more so now. We started testing putting more and more storytelling into our emails, ad copy and social media and it WORKS. Social media is the new TV for many people. And what’s all over TV? Storytelling, reality shows, dramas, etc. If social media (which means paid ads too!) is taking over as the new TV for people then we have to mirror this in our content. This is a skill that would be worth sharpening if you don’t feel like a naturally good storyteller or using more if you are one!
7. Being The Face Of Your Brand & Consistently On Video
Many people won’t like to hear this but your business needs to have a strong face to your brand. If you’re not actively representing your brand as the face of it on video and creating content, you’re being drowned out by competitors who are. This means you must prioritise creating content, specifically video content. We’ve known this for a very long time and it’s only becoming even more important. I know a lot of you out there worry about being perfect and have the fear of putting yourself out there. If you do anything in 2023, push your comfort zone here and force yourself to show up, even (and especially!) when it feels scary.
FOUR WAYS TO IMPROVE YOUR MARKETING TO GUARNATEE SUCCESS
STEP 1: CREATE A MARKETING STRATEGY THAT INCORPORATES DIGITAL MARKETING AND SOCIAL MEDIA
Any business owners become so overwhelmed by the jargon, differing ideas, and confusion in the marketing realm that they aren’t even sure where to begin with their own strategy. After years in digital marketing, we’ve discovered that the best way to create your perfect marketing strategy is to separate from all that noise and focus on your ideal customer. Instead of entertaining all the craziness,. Put yourself in the shoes of the ideal customer. How much time do they have? What is going to get their attention? What is going to get their engagement? If you start your journey off with the answers to these questions, y your marketing strategy (a strategy that is guaranteed to convert) will literally come to you!
Head to the link in the show notes to download my freebie on working out your ideal client. Click here
STEP 2: THE SECRET TO ATTRACTING LEADS & CONVERTING BUYERS
Messaging is the second biggest component of marketing success. This is how you talk to your audience, connect with leads, sell your business, and ultimately attract leads that can’t help but say ‘YES!’ to your services. If your lead generation isn’t bringing in and converting quality leads, there’s a good chance your messaging is off. There are crucial components your messaging needs to be successful and turn those leads into customers. First, you must create an emotional connection with your audience. To do this, you have to be clear on their emotions. What frustrates them? What are their dreams? What do they want to achieve? What problem do they need solved, and how are you going to solve that problem? This is how you attract your buyers. People make decisions and take action off of emotion, so everything you do in marketing needs to be driven by this… Next, and a lot of people miss this, you have to incorporate your ideal customer avatar’s language. You might understand what your ideal customer needs, but if you don’t use their language to convey the need and
your solution, they aren’t going to connect. If your audience’s language is simple, your messaging needs to be simple. If you over complicate your messaging, the connection (and need to purchase) just won’t be there. Just because the foundation work in your messaging is complete doesn’t mean you are set for life. Listen to your audience, listen to your leads, pay attention to comments, and use that feedback to make messaging changes that continue to connect with your ideal customer.
STEP 3: GET ATTENTION & STAND OUT FROM THE NOISE
Your voice, your unique points of difference , and your angles should be yours and yours alone. They should be representing you and your brand values, and shouldn’t sound a thing like anyone else’s. If you want to stand out far above the noise and garner the attention of your ideal customers, you must be unique. Here are some important things to remember: Attention is currency. If you can grab the attention of potential customers, you are a few short steps from turning them into a paid customer. Refusing to outsource may be hurting your business. If administration and designing creatives isn’t your forte or if it’s pulling you away from the core of your business, you need to outsource. Create content that is relevant and educational. The most successful businesses and brands I work with ALWAYS have an element of their own voice, values and personality in their brand.
STEP 4: SECRETS TO SUCCESSFUL PAID ADS
Paid ads are at the tip of the iceberg for marketing success. It’s going to amplify all 3 of these previous steps and any agency or marketing support you get MUST be able to address these other components, not just the paid ads. A lot of people jump into paid ads before having their strategy nailed down, before having their messaging, before having projections set up, before knowing how they’re going to stand out with their copy and creative, and that’s why they’re ultimately not successful. So that’s the first secret to successful paid ads… make sure you’ve completely put in place each of the first 4 things before diving into paid ads. The next incredibly important secret to successful paid ads is tracking your numbers. Not just tracking your numbers in the ad account though. Tracking your numbers all the way through your funnel and tracking those numbers against the goals you set. I would be happy to chat with anyone thinking of considering paid ads and share my tips and strategies with you ….
SO if you were still wondering … marketing is the foundation of your business success. In my opinion it is the biggest growth factor in a property management business without the right marketing in place your business won’t be successful because no one will know that you even exist, and don’t forget once your funnel starts filling up, add in the prospecting start emailing and calling those leads. If they are on your database they are a warm lead and if you’ve done your job with your marketing it won’t be hard to convert them into a paying client. Good luck!