Customer Lifetime Insights and Marketing with Marie

Customer Lifetime Insights and Marketing

Let me ask you a question.

When was the last time you made a big purchase?

Imagine you realize that you need a new car. What would you do next? If you’re like most people, you would probably head over to Google or your preferred search engine.

What would you type in that search bar? What results would you get back?

Most of us would get some ads on top and then some search results with star ratings. You’ll probably see some articles with titles like “The 10 Best Cars of the Year.” And, by the way, if you actually read those articles…none of them will actually agree on what the 10 best are. That’s because everyone defines “the best” as something different.

All these results you see are intentionally driven marketing pieces created by people who want to lead you to their sales funnel.

You might click on articles. You might check out some head-to-head comparisons. After a while, you’ll realize that you’ve collected enough information and that you’re more knowledgeable than you were when you started.

You’re actually ready to buy. But, why? What’s actually going on here?

And, most importantly, what does this have to do with property management?

Everything.

And that’s what we’re talking about today, on The Property Management Show.

Buying Decisions and Property Management Content

What happens as we move through our buyer’s journey on the internet?

We spend hours and sometimes days doing research and reading articles and consuming data and content. This is all done to make us feel better about the big decision we’re about to make. All the pieces of content we consume during the journey shape our expectations and nudge us closer to making that decision.

All of us are like this, especially when we’re making big decisions such as hiring a property manager.

So if your customer’s buying decisions and expectations are influenced by the content they’re seeing during the exploration phase, then it’s in your best interests as a property management business to have your educational content out there for prospects to consume before they even give you a call.

This makes sense, yet we encounter a lot of property management business owners who don’t believe in content marketing or don’t think it’s worth the hassle or the investment.

The content you create is here to fill information gaps. It also helps when prospects are trying to make a buying decision or looking for a solution to a problem they’re experiencing.

Content creates a relationship between the prospect and the business, and it helps the prospect make a decision.

You can’t expect leads to pour in the moment you publish a piece of content online. The effects are more delayed, and sometimes it can take a year or more for your content to generate a huge increase in business.

But, here’s what’s interesting: Research has shown there’s a positive correlation between content and customer lifetime.

Customer Lifetime Averages

Fourandhalf actually did an industry study on property management marketing last year, and we found some interesting things about customer lifetime.

Before we nerd out on all the data pieces of this study, let’s do a quick poll:

* How many of you listening right now know how long your owners stay with your company?

* If you have a number in mind, how confident are you of that number?

If you couldn’t come up with the number or you hesitated a bit, you’re not alone.

* In the Midwest,