The property management industry has grown tremendously over the last few decades. In 2018, the industry generated approximately $76 billion in revenue. However, one of the critical challenges affecting the sector is inefficiency.
Property management is a complex process that involves bringing together multiple moving parts and parties. Managers have numerous administrative, financial, and HR duties. Also, they have to market their companies to increase brand awareness, drive new leases, and generate revenue.
Luckily, technology is not just for renters residing in rental properties. Property managers can use technology to reduce inefficiency in the sector by automating numerous previously labor-intensive functions, including their marketing strategies. Marketing automation allows managers to streamline, optimize, and measure their marketing efforts to increase operational efficiency, grow revenue, and boost profitability.
Marketing functions property managers can automate include:
Marketing tasks take loads of time, money, and effort unless you automate them. Below are the benefits of automating marketing strategies for property managers.
Every property manager desires to manage as many rentals as possible. Nevertheless, the more rentals you have under your portfolio, the less time you have to look after each property.
Fortunately, marketing automation handles repetitive time-sucking tasks such as email and social media marketing so you can focus on your portfolios. Also, with automated reminders, you can manage your time efficiently and avoid forgetting important tasks.
Marketing automation allows for automated lead generation. According to Annuitas Group Research, marketing automation increases qualified leads by 451%.
With automation, you can attract, nurture, and convert prospective renters into tenants in no time, which increases your occupancy rates.
Marketing automation increases the productivity of your team. Rather than spending hundreds of hours on repetitive marketing functions, you can concentrate on vital tasks such as increasing customer satisfaction and driving revenue. Research shows that marketing automation boosts sales productivity by 14.5%.
Automating your marketing tasks gives you more time to manage many properties. Subsequently, you increase your bottom line and profitability and attain competitiveness. Also, marketing automation cuts marketing spend by 12.2%, which translates to an increase in your profits.
As a property manager, you cannot afford to miss appointments because you forgot them. Whether you have an appointment with a property owner, partner, prospective renter, or service provider, showing up — and on time — is crucial.
Missed appointments are missed opportunities that cost you time and money. That's why you need an automated appointment reminder to organize your availability, schedule appointments, and remind you and your clients of upcoming reservations.
An automated appointment reminder allows you to:
Examples of appointment reminder software include Appointy, AutoReminder, and Appointment Reminder.
Follow-ups are essential because they ensure leads don't fall from your sales funnel. Also, they give you a chance to understand clients' needs and preferences. However, follow-ups can be strenuous for property managers. They not only take up much time but also cause headaches, especially when dealing with multiple clients.
Fortunately, thanks to automation, you don't have to bear the pain of follow-ups anymore. Smart assistants such as Top Producer, Boomerang for Gmail, and FollowUp CRM software make follow-ups on your behalf to keep you on the same page with your clients and prospects. You can follow up on prospective renters and convert them to tenants.
When a prospective renter inquires about a listing on your site, he expects a fast and seamless response. Unfortunately, you can't answer all questions that customers and prospects ask on your website manually.
Luckily, with automated chatbots on your site, you can respond to customer queries 24/7. Here are the benefits an automated chatbot offers your property management business.
Imagine replying to the same question countless times in a day. For instance, having to answer “how much will it cost to manage my property” multiple times a day. As a property manager, it can be overwhelming, especially when you have loads of work waiting to be done.
Auto-responder texts to FAQs come in handy to save time, energy, and money. When a prospect asks a common question, the auto-responder generates a response, rather than your team answering it.
Auto-responder texts are desirable as they offer instant replies, and you can be certain the message has been received. This way, you can establish relationships and ensure constant communication with prospects.
Every business, including property management enterprises, requires a lead generation strategy. It needs a way to attract new customers to ensure its success and survival. There are numerous software programs that can automate and streamline the process of capturing and nurturing leads.
By automating lead generation, your company drives new leases, saves time, generates revenue, and keeps your business operating smoothly. It also injects a dose of efficiency into your company while increasing your productivity.
As mentioned earlier, effective communication is a crucial part of property management. Notifii Connect makes communication with specific individuals, groups, or residents easier via text or email.
With Notifii, you can automate reminders on lease renewals, birthdays, reviews, and more. The platform also has an auto-responder tool so that frequently-asked questions can be answered quickly without the need for an employee’s response.
Notifii Connect enables you to save time and money, ensure deliverability, and stay connected with residents. It is suitable for multifamily properties, student housing communities, or HOAs.
Managing property can be grueling, especially if you’re handling multiple properties. You have an endless chain of tasks to handle. There are rent payments to collect, maintenance works to organize, tenants to attract, inspections to conduct, and taxes to file at the end of the year.
Automation tools and software can transform your property management business by streamlining the most repetitive, time-consuming, and labor-intensive marketing functions. Thus, you can concentrate on revenue-generating activities like promoting your business and adding more properties to your portfolio.
Don’t be left behind. Invest in the quality automation tools outlined above and position your property management business for success. Learn more about Notifii Connect here.