The concise social media guide for property management
All you need to know about maximizing social media for your property management business in 2018.
Property management companies are increasingly using social media as a tool for continuous growth, with outstanding results. In 2018, the trend is clear. Businesses strive to develop an online presence by being as personable as possible and what industry is more suited to this trend than property management, an industry rooted in its strong relationships with landlords, tenants, and suppliers. Social media, when implemented correctly, can be transformative for your property management business, but maximizing its potential in 2018 can be tricky.
Why does your business need to be using social media?
In case you had any doubt about the relevance of social media for your business, here are a few quick statistics.
A little about the platforms ...
It is imperative to choose the correct social media platforms for your company as this will save you ample time in establishing a prominent digital presence. If you are uncertain about your potential success on any given platform, then trial it for a fortnight or so.
The most used social media platform in New Zealand with 3+ million Kiwis actively using it. Advertising on Facebook permits targetting based on age, interest, location, and interest. With over 23,000 Kiwi Facebook pages currently active, this is the most important platform for your business to be active on so if you haven't already, create a page now.
LinkedIn is increasingly functioning as a platform beyond recruitment as professionals now use it to network and communicate about their respective industry. Property is no exception and we believe this platform becoming increasingly relevant for property managers. The targeting on LinkedIn is hyper-specific, permitting the targetting of a company, job title, experience etc
Don't sleep on Instagram as this may well become the most popular social media platform in the next few years. The photo-sharing mobile platform has grown dramatically in the last three years and it is becoming increasingly common for property management companies to use it. Last year there were over 1.2 million NZ Instagram users. However, it is important to note that 85% of users are below 45. The same advertising console used by Facebook is employed by Instagram.
YouTube ranked 4th last year for the most visited website in New Zealand and can be implemented very effectively for advertising or even to create your own property management channel.
Not a particularly active channel for property management but nonetheless can be a good place to test content and keep up to date with the latest news in the industry.
How property management companies benefit from social media?
By becoming 1st choice
With the vast amount of property management companies in New Zealand, creating a distinct online presence can be of high value when attracting prospective landlords and tenants. You need to show legitimacy right off the bat and make a memorable first impression. The more familiar people are with your company, the more likely you will be considered first.
Use the 'About' section on whatever platform you are using to highlight your companies achievements and accolades. Highlight individuals in your business who represent your company well and exemplify the outstanding customer service you provide.
It may sound obvious but make sure your pages have been designed to a high standard. It really pays dividends to make sure your imagery is up to scratch and is consistent with your branding. Be sure to get multiple opinions from a range of people and even compare your page/feed with the competition. Ensure your images are not pixelated and all text is easily readable on mobile. Tenancy Services showcase an amazing house style that is consistent, warm and aesthetically pleasing.
Treat your Facebook banner as your digital billboard on which you can dynamically convey the message you want to your audience (upload a video for increased dynamism!)
Show your feedback
Facebook features a review section for business pages where your customers can rate you from 1-5 stars. What better way to encourage prospective customers by showing them what your existing customers say. Property management companies also post testimonials on their social media accounts to show validation. This shows customers that you are transparent and trustworthy.
Encourage your customers to review you on Facebook. Facebook pages such as Wendell Property Management shine by showing their 24 5* ratings, instantly putting them top of the list for prospective owners.
Utilizing paid advertising, you can put your property management business in the shop window and be hyper-specific with you are targeting. Adverts seamlessly blend into the viewers' feed so ensure they are captivating and succinct. As aforementioned, LinkedIn permits the targeting of specific companies and people, though we recommend doing this with caution.
Advertising Quick Tips
- Always include an image or video
- Address your audience directly
- Include a strong value proposition
- Use a powerful call-to-action button
Make sure your pages have the relevant links and contact details and push the appropriate call-to-action on the right medium. For example, Instagram business pages encourage phone calls as it is predominantly a mobile application. (It will be interesting to see if this platform will be commonly used to advertise lettings in the future)
By being closer to landlords, tenant, and suppliers
This is where you can take your social media game to the next level. Social media feels much more immediate than the traditional back-and-forth email dialogue and because of this, there is a real opportunity to turn the formal into the personable. Your company is instantly more approachable and as a result, the 'bond' is stronger. Practically speaking, it is interesting to note the amount of lettings organized on social media has gone up significantly. You are also much more in tune with what is going on in the industry.
So what actions should you take to be closer to your network?
Join digital communities
There is a plethora of digital communities to join including a host of Facebook and LinkedIn groups. LinkedIn groups are commonly credited for unveiling industry thought leadership. Facebook groups host a lot of conversation surrounding property with one Kiwi group amassing over 15,000 members (Property Investors Chat Group NZ). Also, join regional groups that your landlords and tenants are active on and be a part of your local digital community.
Share personable video content
In the YouTube age, everyone has access to share their original content and this is a brilliant way of building a bridge with current and prospective customers. Why not post videos about aspects of the industry or even pose questions to landlords and tenants. Glasshouse Property Management and Watson Property Management do this exceptionally well and make outstanding video content that instantly gives a feel of what working with them would be like.
Interacting with those who click on your page or comment on your post. It presents your company as responsive, quick and professional. The Facebook algorithm change also prioritizes posts with higher engagement. Thank people for their feedback and be proactive in response. Why not wish your audience happy holidays and celebrate with them your anniversary.
By helping you with your day-to-day
Lettings is a key way in which social media is helping property managers with their day-to-day across New Zealand. Many businesses do this already and there is typically a lot of post engagement. Royal is a property management company who have enjoyed some success by doing this.
Many property management companies use social media for HR purposes and why not. Someone who has already interacted with your social media will be more aware of your company and how it operates.
But what should my content be about?
To build online momentum for your business you need to focus on 2 key areas; content & interaction. Interaction we touched on earlier, but knowing what to write or post about can often leave you scratching your head. Creating original content can be highly time-consuming so it is crucial that you carefully select what to write about. Always keep in mind the key purpose for creating content and carefully consider who you hope to engage and how you can add value to their lives. Address their pain points head on and provide guidance. Be sure to be consistent in tone as this gives your property management business a character. Stuck for content ideas?
Come up with a series idea that won't take too much time to make
- Monthly rental market updates
- Landlord or tenants of the month
- Weekly winter maintenance tips
- 5 benefits of selling via auction
- 10 big investor questions answered
- 10 tricks to make your house warmer
Ask the poignant questions
- Different ways to buy real estate?
- Costs of selling real estate?
- What you need to know about?
- What not to do when investing in property?
Comment on the latest news stories
- Asbestos policy
- Meth testing
You don't have to create all of the content that you share on social media. By keeping up to date with key New Zealand publications you can access a surplus of relevant information you can share that affects landlords, tenants, and tradies. Be on top of the latest industry news and re-post to show your company is attentive and astute.
Did you know?
79% of Kiwis over 45 can be reached on Facebook
How much time will it take?
At the end of the day, you don't want to be wasting time on social media especially given how stretched you will likely be with the day-to-day property management tasks. Results won't happen overnight and success only comes with consistency. We believe you can have transformative results by spending just a few hours a week if the execution is right. We also recommend using a social media calendar so you can schedule posts in advance for when your audience is most likely to be active.
How often do I post?
It can be somewhat of a tightrope. No one wants to be saturated with seemingly meaningless information but you must also remain consistent. We recommend no more than three times a day and no less than 5 times a week.
We hope you enjoyed our guide on how best to utilize social media for your property management company. Ultimately, no one likes to be hard-sold but it's important to keep the link strong with current and prospective customers. As aforementioned, businesses in every sector are moving towards a more human and personalized approach so don't be late to the party and miss out on the opportunity to strengthen your ties. Add value to the lives of landlords, tenants, and tradies and harness the strong relationships your company has built and will build in the future.