NARPM Radio
Strategies for Growth and Effective Marketing in Property Management
Nov 6, 2024
Stephen Fox, co-founder of Upkeep Media, shares his expertise in marketing strategies for property management. He emphasizes the importance of client retention and personalized communication. Stephen discusses how to leverage SEO and content creation to boost visibility and attract clients. He also highlights the value of analytics in tracking lead sources and conversion metrics. With practical tips on utilizing remote teams and enhancing client relationships, this conversation is packed with actionable insights for property management success.
54:21
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Quick takeaways
- Effective client retention strategies, like personalized handwritten cards, can significantly reduce churn rates in property management firms.
- Transforming property managers into asset managers enhances client relationships by aligning management services with clients' investment goals and visions.
Deep dives
The Importance of Client Retention
Retaining clients plays a critical role in the growth of property management firms. It has been observed that the average churn rate for these firms is around 20%, meaning that companies often lose about one-fifth of their clients annually. A strategy emphasized for improving retention involves sending personalized handwritten cards for various milestones, such as property leases and anniversaries with the firm. By showing genuine appreciation through these small gestures, property management companies can foster stronger relationships, leading to increased client loyalty.
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