For example: instead of newspaper listings, we use Zillow to attract tenants; instead of sending a letter to our tenants, we use email or text to communicate; and instead of accepting cheques, we use internet banking to process rent payments...
The list goes on and on, and it is constantly evolving.
One up and coming way to improve how we market our rental properties is to use video marketing.
Gone are the days where a listing with a few photos would cut the mustard - the top property management companies know the value of video marketing and are using it to their advantage.
Here are the basics that you need to know about video marketing:
Broken down in the most simple terms, video marketing means using video to promote or market your brand.
These days, video marketing is everywhere online. If you use social media or the web, you are probably exposed to video marketing multiple times a day.
Video marketing is engaging, emotive and effective - it captures our attention without us even realizing... and then somehow we find ourselves watching videos on Facebook for three hours straight...
Video is the easiest and fastest way to get information - no reading required, just listen and watch my friends.
There are many benefits to using video marketing. Studies show that retention rates for information that is both seen and heard is as high as 80 percent.
Compared to traditional text, this is pretty impressive!
Imagine your perfect tenant is scouring the internet looking for a new rental property... there are hundreds to choose from and they are overwhelmed with information.
Suddenly, they see your listing - with a bite-size video that summarizes all your property's fantastic features in less than 30 seconds?
They quickly send you an email to check whether the property is still available (and you can imagine the rest from here...)
Using video marketing in a rental listing is a double win: not only does it help your property stand out from the pack, it drastically increases the chances of your property being remembered.
If you still don't believe us here's a video to outline some of the key stats.
There are heaps of platforms you can use to upload a video. Whether it be YouTube, Facebook, Instagram, Twitter, television, video boards or street marketing, you are spoilt for choice when it comes to picking an outlet.
With the prominence of smartphones and the popularity of apps, your videos can be accessible by prospective customers 24 hours a day, 7 days a week - even after you have called it a day.
Need further good news? YouTube is the second largest search engine and owned by Google so a properly tagged video can do wonders for your SEO. This means a higher search engine ranking and more clicks!
In a time-poor world, video marketing can achieve so much more than information that is just seen or heard. It can also be emotive and help you connect better with your clients.
Landlords can use video marketing to introduce themselves and build an online presence or to create virtual tours of vacant properties.
Short videos that provide tips and tricks or updates about the local rental market in your area can attract tonnes of views and are easily shared across social media.
What are your tips and tricks for using video marketing in property management? We would love to hear from you!
We hope you found this blog interesting! However, do note that it should not be used as a substitute for competent legal and/or other advice from a licensed professional.
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