Property investors need to always follow some steps that will reap rewards. A big part of this is making sure you handle your property marketing as effectively as possible.
The population of Memphis grew by 9.5% in a 5-year span and is one of the cities that millennials are flocking to. Because of this, there's plenty of competition for renters that you'll need to face when handling your marketing campaigns.
So, which strategies will make the biggest difference? Here are some of the main ways that you can use property marketing to attract tenants even in a tough market.
Get Creative on Social Media
Learning as much as you can about social media marketing will help you bring in followers and prospective tenants.
Social media platforms are where most conversations take place today. Renters in your area congregate on social media apps and sites like Facebook, TikTok, and Instagram.
When you're able to effectively get your message out on social media, you'll always have a pipeline of prospective renters that can keep your revenue going. Use a mixture of photos, videos, well-written messages, and other techniques to help with your social media storytelling. From there, you can leverage this attention and convert it into renters.
Pen a Blog
A blog is still one of the best forms of marketing that you can use. Use the blog to regularly publish evergreen articles related to renting, property ownership, real estate investing, things to do in Memphis, and several other related topics.
Having a regularly updated blog keeps your website from being too static and also grows your follower base. Use convincing calls to action, professional multimedia, and link-building strategies that will help you get the most from your blog.
Hold Open Houses
While digital marketing is the name of the game today, never underestimate how important face-to-face is in marketing. You can really sell your property to the public when you have managers walking people through open houses.
Get your property rent ready and show it off in an open house. Publicize your open house on all of the major platforms to get stellar attendance. Consider handing out wine and refreshments and make sure that you're prepared to answer all of the questions that people have related to the property.
Buy Some Ads
It's also important that you purchase some ad space in places where people in your demographic are likely to see them. These ads can promote renters' specials or can showcase your property as a whole. These targeted ads have high conversion rates and can increase traffic to your website.
Have some money in your marketing budget for these ads so that you can get the biggest return on investment from your marketing strategies.
Invest in Property Marketing
When you're investing in property marketing, it gives you the best chance to grow your tenant base and have quality replacements ready when people move out. Look for the help of a property management company that can assist you with all of these campaigns.
Property Management Inc. (PMI) of Memphis can assist you with your property marketing needs. If you'd like to learn more, contact us on our site or give us a call at 901.350.0500.