A healthy number of landlords on the books is the backbone of any estate agency. Sales bring cashflow, lettings bring stability and value. When times are tough, it’s the management fees that will see you through, as this is regular monthly income. If you want to grow your business with the option to sell it in the future, or have the stability of a regular income, you need to invest in growing your landlord portfolio and the property management side of the business.
Here is the six-step process we go through to turn a cold prospect into an ongoing client who pays you again and again.
MAKE THEM AWARE YOU EXIST
The first point of any marketing or sales relationship is to build awareness. If landlords don’t know you exist, they aren’t going to buy from you.
Typical routes for driving awareness include social media advertising (Facebook ads are the perfect vehicle), social media posts, SEO, public relations, even word of mouth (though more difficult to control or influence) The important thing is to know your audience and go where they are.
ENGAGE WITH THEM
Now we want a potential landlord to engage with us in some low-level way. Although they are aware of your business, they still don’t really know you or trust you. So, you need to work on building relationships.
Typically, the engagement is done through content marketing, email marketing, or social media marketing. For example, you can launch a blog that helps landlords to expand their portfolios. Your blog posts should offer value and information they can apply in their day to day needs without talking about your services. Yes, we’re advising you to pay to send traffic to a free content piece. Remember, we’re trying to build trust with prospects.
Once the landlord reads your content and engages with your business, they may become a client!
Just taking landlords to a blog post will not generate business; to drive them up the ladder, we make a proposition. We suggest the prospect downloads a piece of content that is related to the first ‘freely available’ (engagement) piece, only with more value. This could be a white paper, a guide, a report – whatever you like. Ideally you should link the engagement piece with the problems you solve. To attract more accidental landlords, provide them with a download on the ‘A to Z of renting your home’. They access the file by filling in a data capture form requesting name, email and something else, with a clear opt-in box to ensure GDPR compliance.
This stage is crucial. It’s the first point where we ask for commitment from the prospect and see how much perceived value they place on our content.
CONVERT THEM TO A HOT PROSPECT
Capturing their email address will allow you to progress your relationship to the next level. Now we know they are interested in solving a specific problem, we can chase a conversion. You might offer a free consultation to discuss their problem, or a face-to-face meeting to give them free portfolio advice?
At this stage we link the service to tackling the same pain-point as our engagement and subscription pieces. To improve conversions, the digital marketing tactics you will need to deploy are: digital advertising, content marketing, email marketing, search marketing.
GET THEM EXCITED
Now is your opportunity to wow them with your knowledge and services. Your job is to make sure the experience from your ‘low-level’ service is a good one. You need to create excitement and turn it into trust.
The reason for this is simple: if the prospect doesn’t get value from this engagement, they won’t move on to the next stage. To achieve this, the tactics you need to deploy include: email marketing and content marketing.
GET THEM TO BUY AGAIN AND AGAIN
Finally! We ask for a sale. By now you’ve invested time, money, and resources into acquiring landlords as leads and making sure they get value from doing business with you.
You have yet to turn a profit. And that’s perfectly acceptable, because you’re investing in future profits – you want this landlord to give you their entire list of properties to manage.
Once the potential landlord has read your content, engaged with your business, and become excited by what you offer, they are likely to become a customer. To achieve this, the tactics you need to deploy include: email marketing, digital advertising, content marketing.
To read more about Art Division’s landlord campaign strategy, visit: https://artdivision.co. uk/landlords-campaign/