Once potential tenant-buyers see one of our advertisements, our goal is to keep them in our sales funnel so that they or someone that they know will eventually rent one of our homes.
From early on, we’ve kept these potential tenants updated through email. I first had an email list through Gmail and eventually moved it to Mailchimp which is where it’s at now.
Our open rates average 15-20%. With a list size that’s grown to around 525 people, only about 100 people even open our emails.
Facebook has played a big role for us, especially in the past year as the page now has over 3,000 likes. We do quite a bit of advertising on it and have had several current tenant-buyers find us through Facebook.
For people who don’t find us through Facebook, I wanted a solution with better open rates than email. Texting was an obvious solution as people almost always check text messages on their phone. They’re tough to ignore as they interrupt whatever you’re doing. The cost of texting services had been obstacle for a while. It’s common to see plans among services between 3 and 5 cents per text message.
We’ve used Eztexting’s free plan for several months to remind current tenants that rent is due but this plan is limited to 500 texts and the paid plans seemed expensive.
I stumbled upon Cheapest Texting a couple months ago and they have a $49 per month plan that gives you 5,000 messages and 2 custom keywords. They also have a $99 plan for 50,000 messages and 4 keywords.
We began to advertise that potential tenants can stay updated with properties through texting in early November and within a month, we had grown the list by 350 numbers. Way faster growth rate than email!
The keywords have had an added unforeseen benefit. We can set a different keyword for each vacant property so that potential tenants can get specific property info and even the lockbox code. We can track how many people have texted which keywords. The keywords have also cut down on the amount of time my assistant spends on the phone as the automated messages answer the large majority of a caller’s questions.
This has been a fantastic tool that I wish we had starting using sooner.
Can you recommend any similar texting services?