With so many opportunities to showcase your rental property to potential tenants, social media can be a great option when putting together a marketing plan. Many companies primarily use social media as their top platform.
However, with algorithms changing what almost feels like daily and the cost per impression rising, it is important to come at social media marketing with a decent idea of what you are doing. Boosting random posts no longer gets you the attention that you need (but may get some weirdos in your dm’s).
To help, we have put together a quick guide to help you market your rental property on social media.
The Social Network
There is a social media company for just about anyone these days. From Facebook and Twitter to smaller niche communities such as Goodreads and Letterboxd, social media has truly taken the world by storm. Over the years, social media has developed and improved, but one thing remains the same; and that is social media is simply an extension of our natural social networks.
Think of social networks as webs. Each strand is a person, and each level outward is another network. As you connect with new strands, it is as if a new layer of the web unlocks, connecting you with a new group of people. Rinse and repeat, and you have your online social network.
Social Media Marketing Stats
Social media marketing has become an integral part of any business lifecycle. If you are looking to rent out your rental property, then you, too, are a marketer.
As marketers, understanding the impact and potential of social media is crucial for crafting an effective marketing strategy, even if it is just for one rental unit. Let's dive deep into some statistics that highlight the significance of social media.
1. Global Social Media Penetration:
Social media has truly gone global. As of 2021, there were over 4.9 billion social media users worldwide, accounting for approximately 63% of the global population. This immense reach presents an unparalleled opportunity for marketers to connect with their target audiences and expand their brand presence.
2. Time Spent on Social Media:
People are spending a significant amount of time on social media platforms. On average, individuals spend about 2 hours and 25 minutes per day on social media, indicating that these platforms have become a primary source of entertainment, information, and social interaction. This extensive engagement provides marketers with ample opportunities to capture the attention of their target audience.
3. Influence of Social Media on Purchase Decisions:
Social media has a powerful impact on consumers' purchasing decisions. Research shows that 54% of social media users use these platforms to research products before making a purchase. Additionally, 71% of consumers are more likely to make a purchase based on social media referrals.
These statistics emphasize the importance of maintaining a strong social media presence and engaging with customers to build trust and drive conversions.
4. Mobile Dominance:
Mobile devices play a pivotal role in social media usage. Around 98% of social media users access these platforms via mobile devices, highlighting the importance of mobile optimization for marketers. Ensuring that your social media content and ads are mobile-friendly is essential to reaching and engaging with your audience effectively.
5. Visual Content Reigns Supreme:
Visual content continues to dominate social media platforms. Posts with images or videos receive significantly more engagement compared to text-only posts. Tweets with visuals receive 150% more retweets, and Facebook posts with images generate 2.3 times more engagement than those without. Marketers should leverage the power of visual storytelling to captivate their audience and convey their brand message effectively.
Marketing Your Rental Property
Now that you have an idea of how important social media truly is to marketing, let's distill this down into some ways that you can use social media as an effective tool to promote your rental properties.
- Make a Plan: Before you begin marketing your unit, gather data about your target demographic and begin putting together a social sharing plan. Find out as much about your preferred social media outlets algorithm, and set a schedule and content outline to suit it.
- Choose a Campaign Style: There are a variety of ways to focus your campaign. Do you want more followers? Increased awareness? More engagement? These goals will determine exactly how to create and share content.
- Polish Up Your Social Profile: Even if you have a well-built social media profile, take some time to go over it and ensure that everything is correct. Additionally, making small updates shows viewers that your page is active.
- Utilize Facebook Marketplace: If you haven't already, list your rental property on Facebook marketplace. You can essentially copy and paste your listings from elsewhere here. However, this should be treated as a supplement, as only 2% of renters use Facebook to find new rentals.
- Gain Trust: One common sales strategy is to give away free information or help to gain the trust of potential tenants. One way to do this is to share helpful or valuable content.
Social Media Ads
So far, most of what we have offered costs nothing but time. However, social media platforms also offer some form of paid advertisement that can be used to get content in front of more eyes. These pay-per-impression/click campaigns are useful depending on your goals, but should be well-researched before digging in.
Work With a Social Media Savvy Property Management Company
If you do not quite have enough time to build an active social media page for a few simple rental listings, have no fear! Many professional property management companies will utilize social media to market your property so that you don’t have to.
Asheville Phoenix Properties will not only help you get your property listed on all traditional platforms, but can help assist with social media marketing to ensure that your rental property is not on the market for long. We know what it takes to keep good renters in the pipeline in Asheville, NC, and can handle just about anything associated with renting out properties.
With more than 25 years of real estate management experience, we can help owners and tenants by managing every aspect of a rental property. Contact us today!