Property Management Marketing Plan
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a property management business plan, your marketing plan should include the following:
Product: in the product section you should reiterate the type of property management that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to commercial property management, will you provide services to the single-family residential market?
Price: Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.
Place: Place refers to the location of your property management. Document your location and mention how the location will impact your success. For example, is your property management located in a location with many vacation property rentals?
Promotions: the final part of your property management marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
- Advertising in local papers and magazines
- Reaching out to local bloggers and websites
- Social media marketing
- Local radio advertising
- Banner ads at local venues
Property Management Marketing Plan FAQs
A marketing plan is one of the components of a business plan outlining a specific marketing strategy, including action items and anticipated results. The marketing plan consists of industry-specific market research, messaging specific to your target audience, selection of platforms where you will promote property management services, and the metrics that you will measure as a result.
Your marketing strategy and plan should include 11 sections as follows:
- Executive Summary
- Target Market Segments
- Unique Selling Proposition (USP)
- Pricing and Positioning Strategy
- Distribution Strategy
- Marketing Materials
- Promotions Strategy
- Online Marketing Strategy
- Conversion, Referral and Retention Strategy
- Financial Projections
If you’re looking to start a property management business or grow your existing property management business, you need a marketing plan to set business goals and actionable items to reach new customers and drive business success. Your property management marketing plan is a living document that should be updated quarterly as you gather data regarding the current marketing efforts to adjust your budgets toward sources that are generating the most qualified leads and eliminating wasted spending.
Growthink's Ultimate Marketing Plan Template allows you to quickly and easily complete your Property Management Marketing Plan.