Anyone use pay per lead marketing, and how much annual spending on marketing?

[Ronnie C.]

I'm not a newbie, just looking for what's best and easiest to get the phone ringing. There are sign bandits targeting bandit signs these days that pull them up on weekends after setting them out. Tired of fighting that battle and tired of mailers, never cared for that strategy anyway. 

I spoke with someone this morning offering pay per lead marketing where they have target ads on meta, and different platforms as well as google searches targeting specific areas, counties. $300-$325 per lead depending on the county in my area. They scrub the lead with questions specifically about their situation, the type of house as I made clear don't charge me for leads on trailers or old houses built before the late 60s. He said if I did get such a lead they'd refund me. 

I'm sitting here using Flipster, curious of your all's thoughts or experience with it. Scrubing leads and sending letters and it takes so much time. I can tell you their comps are crap as I am a licensed Realtor in TN (not practicing just want the MLS) and when I narrow down comps from Flipster the comps all always more than reality or looking at it narrowed down like an appraiser would.

What are y'all spending on marketing and what are your thoughts on pay per lead, along with Flipster which is not the pay per lead I'm referring to but the trial is about to end on it and i'm considering getting it. 

I've thought about dedicating a $50 grand to marketing for the next 12 months. I hate to piss it away to come up with very little. 

Thoughts?

Thanks

[Don Konipol]

Quote from @Melanie Thomas:

When considering marketing strategies for property management companies, the choice of using pay-per-lead marketing depends on various factors. Pay-per-lead marketing can be an effective approach if you have a well-defined target audience and a clear understanding of the cost per lead and the conversion rate from leads to actual customers. It can help you generate qualified leads and potentially increase your customer base.

However, it's important to note that pay-per-lead marketing may not be suitable for all property management companies. If your target market is highly competitive or your services require a more personalized approach, you may benefit from other marketing strategies, such as content marketing, search engine optimization (SEO), social media marketing, or targeted advertising.

Determining the annual spending on marketing for a property management company can vary depending on several factors, including the size of the company, its goals, target market, competition, and available budget. There is no one-size-fits-all answer to this question.

To determine your marketing budget, consider the following factors:

1. Company Goals: Identify your marketing objectives, such as increasing brand awareness, acquiring new clients, or expanding into new markets. Your budget should align with these goals.
2. Industry Standards: Research industry benchmarks to understand what other property management companies typically spend on marketing. This can provide a baseline for your budget allocation.
3. Marketing Channels: Consider the marketing channels you plan to utilize, such as online advertising, print media, social media, content marketing, SEO, or direct mail. Each channel may have different cost structures, and you should allocate your budget accordingly.
4. ROI Analysis: Evaluate the return on investment (ROI) of your marketing efforts. Monitor the effectiveness of different channels and campaigns to determine which ones provide the highest ROI. Adjust your budget based on the performance of each marketing avenue.
5. Testing and Optimization: Set aside a portion of your budget for testing and optimizing your marketing strategies. This will allow you to experiment with new approaches, measure results, and make data-driven decisions to refine your campaigns.

It's recommended to track and measure your marketing efforts to determine the effectiveness of your spending. Regularly assess your marketing budget based on your goals, market conditions, and the performance of different marketing initiatives.

Good luck & happy investing!

It’s getting tiresome reading these Artificial Intelligence reproduced internet articles reposted as original materials, especially when they only marginally apply to the OPs question.  @Melanie Thomas, can you next time identify your post as an internet article reprint (at the top), so we can not waste our time reading it?  Or, at least make sure it’s relevant ( the OP is NOT after “property manager “ leads. Or spend a few minutes to modify it, so it at least looks like you’re really participating rather than doing the minimum to create links for your own website SEO.