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Sarah Cincotta
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19 Jun 2024

New Rent Roll Growth Strategies for the New Financial Year

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Our roles as BDMs are changing so rapidly, and this means that traditional methods of rent roll growth need to be reviewed, while adding in new rent roll growth strategies that are working well for BDMs. For BDMs aiming to hit their KPIs in today’s competitive market, it’s essential to understand why these methods are becoming obsolete and how modern strategies can propel growth more effectively. Here’s a closer look at the changing nature of rent roll growth and what you can do to be able to adapt to these changes.

Changing Consumer Behaviour

Today’s landlords are more digitally discerning than ever before. They prefer to engage with property managers through online platforms rather than face-to-face interactions, at least initially. This shift in behaviour necessitates a strong online presence for BDMs. This means a strong online presence, branding, and digital equity is becoming more valuable in your rent roll growth strategies. Potential landlords are now more likely to search for services on social media, property listing websites, and other digital platforms. It’s important to meet them where they are, providing a quality and convenient digital experience. Ignoring this trend means missing out on a vast pool of prospective landlords who favour online interactions over traditional methods.

The Rise of Data-Driven Marketing

Using data analytics to inform marketing strategies is no longer optional but essential. Data-driven marketing allows BDMs to target specific demographics, tailor your efforts, and maximise your reach. By making an analysis on market trends, landlord preferences, and local market behaviours, BDMs can create more effective and personalised marketing campaigns. We’re living in a time in history where we have precision and insight provided by data analytics. This shift to data-driven strategies improves your  efficiency when it comes to your prospecting, and also significantly improves the return on investment for your  marketing activities.

Building an Online Presence

A significant online presence is a cornerstone of modern rent roll growth. This includes having a professional website (yes, perhaps even a personal brand website), active social media profiles, and positive online reviews. A well-maintained digital presence can attract and retain clients far more effectively than traditional methods. As Ellen Bathgate says, “When you truly engage on social media, amazing things happen. Your influence grows, your engagement rates soar, and you build strong, lasting connections.” Engaging content, regular updates, and genuine interaction on social media can give your brand a massive standing and establish trust with potential clients, and any referral partners who might be following you too.

Innovative Customer Engagement

To stand out in today’s market, BDMs need to adopt innovative approaches to customer engagement. Content marketing, virtual tours, and customer relationship management (CRM) systems are excellent alternatives to traditional methods. Content marketing, through blogs, videos, and newsletters, can educate and inform clients, positioning you as a thought leader in the industry. Virtual tours offer a convenient way for potential tenants to view properties remotely, enhancing the customer experience. CRM systems help manage and nurture client relationships, ensuring that no lead falls through the cracks and that clients feel valued and engaged.

The landscape of rent roll growth is undergoing a significant transformation. By embracing data-driven marketing, building a strong online presence, and adopting innovative customer engagement techniques, you can achieve sustainable rent roll growth and be at the front in a competitive market. It’s time to leave outdated methods behind and step into the new methods of rent roll growth.

Book a chat with me to talk about my mentoring program, and discover more effective ways of growing your rent roll.

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