If there’s one basic rule for marketing and advertising, it’s “go where your people are.” Your people (a.k.a prospective tenants or real estate investors)? Yep, they’re on social media.
Whether your goal is to invest in more rental properties or to fill your existing units with high-quality tenants, the better your network is and the more targeted your marketing reach is, the more likely you are to achieve whatever your goals might be.
Where Should You Be Social?
The social media landscape has rapidly changed over the years, but some tried-and-true platforms, especially for business owners, include sites like LinkedIn, Twitter and Facebook.
The choice to join one of these platforms does not have to be all or nothing, but the more consistently you share content, the more quickly you will gain a following.
As you decide where to start first, consider your goals. If it’s to build a network of other like-minded property owners and investors, you can start by sharing helpful content and experiences on LinkedIn or Twitter.
If you’re trying to source new tenants, advertising on places like Instagram, Facebook or Twitter could help you drive applications. These other marketing tactics will also help.
Benefits of Using Social Media for Your Business
Social media can be beneficial for growing your own professional network as well as achieving your business goals. Here are a few specific ways it can help:
- It allows you to connect with like-minded people.
- It’s a platform for learning from each other.
- It’s a place where you can add value and teach others.
- It enables you to develop new partnerships.
Then, there’s always the benefit of solidarity – knowing you’re not the only one dealing with difficult challenges and pain points in your business.
Social media can be a useful business tool when used effectively. To learn more about how we leverage social media at RL Property Management, listen to episode 11 of our podcast Owner Occupied.