5 Awesome Marketing Trends you can add to your Existing Strategies!
The rental market cannot thrive without tenants in the picture. And as a property manager or a homeowner renting out a property, applying prevalent trends will definitely keep good tenants for a good, long-term stay.
As it continues to change, we’re still battling public health emergencies, leading to a downward point in the economy. The anticipation of low occupancy rates and lesser travel opportunities is higher this year, but surprisingly, the industry makes room for flexibility and is adaptive to these so-called changes.
One survey found that almost two-thirds of property managers, landlords, and investors are optimistic about the rental property sector going into 2021. And while technology is within everybody’s grasp, it’s one of the things that tenants will go for: systematic, convenient, and easy access. So fret not because we’re going to show you marketing trends that you should cling to ensure your property’s success.
Know your Demographics
Demographics is a set of data relative to the population and certain groups within it. Knowing your targeted demographics will help you understand your tenants better and smarter. We are all aware that Millennials take up most of the rental market population but don’t forget Gen Z’s growing number as well. Both generations require internet and technology, and as a landlord or a property manager, you need to be equipped to meet their standards and expectations.
Utilize technology. Always
Short-term rental platforms such as Airbnb and VRBO made it easier for landlords and property managers to communicate with guests/tenants. Traditional ways may still be practiced but adapting new methods gives you better results. Use technology to your advantage; you can start by:
- Installing Wi-Fi and internet in the property
- Initiating online payments
- Acquiring smart locks and keyless door entries
- Allowing self-check-in and check-out for guests
Almost everyone is becoming savvy with technology, so you can start by remolding some of your methods and applying and upgrading new amenities.
Look for new Marketing inspirations
The rental market is never static. What you practice last year might not be effective today, and keeping up with these trends should be kept in mind at all times. It is ever-changing, approaches may differ from person to person, and it’s all about how you plan to execute and tackle these changes.
Don’t confine your marketing strategy with just one idea – there are tons of inspirations, hacks, tips, and tricks online that you can absorb and make use of. With the pandemic that is still affecting the economy, going digital is one of the real-time solutions we can adapt.
You can start producing relevant content to your website to generate organic traffic, answer inquiries from potential clients: the workaround, services you offer, what differentiates you from other similar companies, so on and so forth. Digital marketing helps property managers cut unnecessary expenses, and it’s an economical way of reaching out to homeowners who seek your help in managing their property.
Relative to Millennials and Gen Z’s excessive use of the internet and technology, this opportunity paved the way for property managers to maximize this era of digitalization to understand the needs of these modern tenants better.
Most Airbnb properties now have Wi-Fi and high-speed internet, sometimes a conducive area where tenants can bring home some work, especially for business travelers. You can include an option as one of your digital amenities that will surely grab tenants’ attention.
Short-term rental Demand continues to Escalate
As we’ve mentioned, 2021 will still be a good year for those who want to venture into property management. With proper planning and sheer determination, short-term rental continues to prove itself as a game-changer in the real estate industry.
Be sure to keep yourself in the loop with you’re the latest trends, connect to people who have similar interests as you, read insightful articles online, any material that will keep you updated with the best practices.
We’re hoping that this simple guide will help you shape your marketing techniques and strategies to better engage with your target audience and, of course – to increase your company’s revenue. What are your comments about it? Did we miss anything? Leave us a message, and we’ll gladly help you out in realizing your property’s potential.