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Property Management Client Lead Generation

Outbound Direct Marketing to Find New Property Management Clients

Property Management Lead Generation

Goal:

Your goal with using Virtual Assistants for Property Management Lead Generation is obvious:

Attract more Property Management Clients!

Specifically, this approach is to steadily fill your Top of Funnel (ToFu) with new Opportunities.

How It Works:

Using Virtual Assistants to generate Property Management Client Leads is complicated.

The simplest way to break it down is to first of all narrow the concept:

Specifically, we’re talking about Outbound Direct Marketing.

That is NOT Inbound Content Marketing (for contrast), so we can significantly hone in the discussion purely on the available methods of Outbound Lead Generation.

When it comes to Outbound Direct Marketing, there are always going to be 4 main components for the initial Lead Generation:

#1. The List.

#2. The Message.

#3. The Medium.

#4. The Messenger (your Virtual Assistant).

#1. The List.

For the List, you’ll likely want to target either by Property, or by Investor.

In other words:

Do you build a List of Properties you want to manage…

… Or do you build a List of Investor-Owners you’d like to work with?

Both are viable, and both have different Pros and Cons too complicated to dive into here.

#2. The Message.

Once you have your List, you’ll need a good Message. The general gist should be focused on the Client, succinctly explaining how you’ll solve all their Property Management headaches in a way nobody else can.

A simple Direct Marketing Message formula you can use (for reference) would be:

We help ___________ (your Customer Avatar)…

… achieve ___________ (your Unique Sales Proposition)…

… without ____________ (their Nightmare Scenario).

For example:

“We help out-of-state Investors with Single Family Rentals

… achieve guaranteed management peace-of-mind for an 8% flat rate

… without a bunch of hidden add-on fees or confusing contracts.”

You’ll want a punchy value proposition like this to drive all the rest of our Outbound Direct Marketing, because you’ll likely need to go cross-channel using different Mediums.

#3. The Medium.

Here, you’ll have several obvious opportunistic choices… but it will depend what information you originally gathered on your List.

The best Mediums for Property Management Lead Generation are usually:

  • Outbound Cold Call Telemarketing
  • Direct Mail
  • Cold Texting (but check your local rules & regulations)
  • Social Media Direct Messages (LinkedIn, Facebook, and Instagram especially)
  • Outbound Cold Emailing (though this requires some technical know-how to not get sent to the SPAM folder)

If you can combine all of the above in a multi-step Campaign, your odds are as good as you can get them.

Ultimately, you’ll want to choose every Medium you have available, and that makes sense economically for your typical Customer Lifetime Value.

#4. The Messenger (your Virtual Assistant).

Fortunately, if you did a good job on the previous 3 items, your Virtual Assistant doesn’t need to be some type of Marketing or Sales Wizard.

In fact, the main criteria to be successful is just that they are dependable, consistent, and coachable. From there, you can work together, testing different Messages and Mediums, until you find the ideal combination.

The key is careful tracking of Key Performance Indicators (KPIs), so you can track your Return On Investment (ROI), and make continuous improvements to your Campaign over time.

Pros:

By far the largest benefit of utilizing Virtual Assistants for Client Lead Generation in your Property Management Business is revenue growth!

If you can build a Sales Process that successfully & consistently transforms these Leads into Clients, you have an engine that can drive your continued growth for years to come.

Plus, when it comes to generating Client Leads, there are very few “pre-built” options out there…

… meaning if you can trudge through the setup & testing process to arrive at some dependable Campaigns using Virtual Assistants, you’ll have a significant competitive advantage over nearly every other Property Management Business in the game (not just in your local market)!

Cons:

There are several potential downsides & pitfalls when it comes to Client Lead Generation in your Property Management Business.

As mentioned above, there are few alternative options in the marketplace. Some vendors provide managed Pay Per Click (Adwords) Campaigns, and maybe some other types of Paid Ads.

However, since there is not many resources available, chances are you won’t find many Virtual Assistants who have already done this type of work in the past.

Therefore, one of the biggest difficulties to building a successful Campaign is the set up process.

What Tasks should you assign to the Virtual Assistant?

What is the step-by-step process?

Can you build a Standard Operating Procedure?

How will you properly pre-qualify applicants for the role?

Both setting up the Workflows, systems, and processes, as well as hiring & training the Virtual Assistant(s), are difficult and complicated undertakings.

The other biggest difficulty with this type of Lead Generation Campaign is cost.

Running tests & finding the right combination of List, Message, and Medium can get expensive quickly (especially if you include Direct Mail in the mix).

Plus, the average Sales Cycle for the Property Management Business is long:

  • The Leads generated could require 9 – 12+ months of follow up before they’re finally ready to convert & become paying Clients!

Many Prospects will still be under contract with a current Property Manager, meaning they couldn’t even work with you if they wanted to.

If you’re not prepared for that long-term follow up, you can easily burn through your budget filling the Top of Funnel (ToFu) without ever actually bringing Leads across the finish line in the Bottom of Funnel (BoFu).

Work Estimate:

The Work Estimate for a Lead Generation Virtual Assistant in your Property Management Business is relatively straightforward.

There are essentially 2 main components:

#1. The Virtual Assistant’s Daily Work Schedule.

When do you want them around in real-time for making & receiving calls? When are your Prospects most likely to be available?

In most cases, the best way to use a Lead Generation Virtual Assistant is either part-time at 4 Work Hours Per Day (1/2 time) or full-time at 8 Work Hours Per Day.

This ensures they have long blocks of uninterrupted time, when they can focus on outbound messaging, while also fielding responses & capturing Leads.

#2. The Hard Costs of Additional Tools Your VA Will Need.

There are variety of potential hard costs that you’ll need to factor in to your Work Estimate, since these will impact the way your VA works.

For example, if you’re going to be Cold Call Telemarketing, what Phone System will you be using? If it’s a Power Dialer, your VA will be able to get through more records faster, but it’ll also cost more than some simple VoIP line.

If you’re going to be sending Direct Mail, while the Virtual Assistant can handle getting Campaigns ordered, of course you’ll need to budget for the costs of Printing & Postage.

Once you take these factors into consideration, you’ll be able to create a realistic Work Estimate & budget accordingly.

Lastly, keep in mind these Leads will require long-term follow up! So don’t forget to budget for the cost of Inside Sales and Marketing Automation, to make sure you’re not just throwing away money to generate Leads that go nowhere.

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