When I began Tungsten Management Group (TMG) I started the business from scratch and therefore I had to create my brand and the business brand. On reflection I should of spent more time creating a marketing strategy before I took TMG to the public. I would liked to have written down my 'why' and my vision and displayed it in my office so that we could all read and then visualise this common goal.
The next biggest tip is to realistic work out how much time you can devote to your marketing channels. For TMG I try to post 3 times a week on Instagram, Facebook, Twitter and LinkedIn with adhoc story posts. Right now I am unable to post everyday so my realistic and constant posting is 3 times a week, what is your optimum posting volume? A caveat for that is make sure the posts offer quality and value.
Before you start marketing yourself and the business, please consider what makes you stand out from the crowd, it is important to understand what your unique selling proposition is - what is your USP? This statement can be about you, your business or your service/product and will help you to distinguish yourself from others . Our genuine USP is the experience we hold in the HMO and flat property market. Through the process of creating 25 HMO rooms and 7 flats we have gained invaluable knowledge that has allowed us to begin the formation of a strong and stable business. We have learnt a lot whilst carrying out these projects and the learning has given us a real USP.
How can you market yourself and your business?
Social Media
The main focus on Instagram is on photo and video sharing. Since I have been using the platform there has been a shift towards videos over photos, and as a user I know I watch stories more than scroll through feeds. So I have changed the way I post content too so I include more videos and links to content I find interesting (adding helpful content) - remember that a video can help photos to tell a story. You can also be guilt free when liking and sharing on Instagram as the you 'heart' other content or interact on the platform in a positive and value adding way the more the algorithm to make you more visible.
TMG try to post before and after images as the interact with the audience is always very high with this type of content, as your audience follows your progress. Your audience will love to celebrate your success, and it helps people to engage. I alway post a picture of the keys for a new purchase, a letting board being erected or broadcast that a new tenant has moved in. Does your website have testimonials listed? If so can you add those to a post and link back to that webpage? Can you repost a blog article that is suitable? I feel that repurposing content can be a great time saver for you and also get your audience to interact with your other social outlets.
The biggest thing I struggle with is having content that is interesting and adds value. So I sign up for goggle alerts in my investment areas plus for key words, so that I get sent news articles that could be of interest. I can then share these on my platforms.
I am not a social media expert but I feel that I have made progress with our Instagram account and Youtube channel. I have made our content more engaging by adding more videos and I have worked hard to create a Instagram feed that is consistent in look and feel. I achieved this by committing to 2 blog posts a month that are shown on my feeds and then add adhoc news article to my story. I have set myself parameters to work within. As mentioned above I use groups on Facebook to allow me to interact with others posts, ask a question or ask for a recommendation as this causes interaction and makes you more visible. But make sure you add content that is adding value to others and engages with others – making content for content sake will not help your visibility online.
Once you really get the hang of the social platforms you can start to utilise the analytic tools. To be honest I am not the master of these but you can take a lot of information from these tools such as what time people engage with you the most, what types of posts people like and what interest a specific post had.
The key is committing to being constant with your posts so you have regular content, taking time to engage with others posts (this can help your visibility and its called social media for a reason) and share content that is relevant and adds value.
Letters
This method can be overlooked in favour of the modern methods but TMG have used letters and mailing campaigns on many occasions with a great success rate. I have used the HMO database on the Medway Council portal to contact landlords with the aim to contact those in a position to sell their property or portfolio! I have also used a direct marketing mailing company who used their own database to post flyers through the letter box of 2000 homes in Medway. This method was less specific but the aim with this flyer was to reach those who could be selling a home that TMG could potential convert to a single let, flats or HMOs. A note to consider is again consistency. A leaflet for a pizza restaurant is likely to have a higher hit rate as a pizza order is made more often than a house sale so the leaflet can be send less frequently. The initial property leaflet maybe placed in the bin, the second one will trigger a memory of the first and therefore be kept or thrown away and the third you may have the leaflet kept and in the future the receiver could be in a position to sell the property and can contact you.
Agents
Going into an agents office with some cakes and a big smile can seem cheesy but it works. To stand out you need to be different and do you know anyone who does this and what would your reaction be to a tray of doughnuts on a Friday afternoon? If you can build a relationship with the agent that allows them to know you are serious about buying property then they could be placed at the top of the list when sending out a new listing - it's a mutually beneficial relationship.
Conclusion
I hope you have seen from the above that the modern and non-modern methods still have a place but they need to be used consistently and with a constant message and focus. Start with this focus and be honest with the time and resources you have to dedicate to your marketing strategy.
