According to Entrepreneur Magazine, nearly half of the typical company's money allocated toward advertising is wasted. To lessen this waste of valuable money, time and resources for any business – including rental property management firms – the publication offers some recommendations.
A key question companies should ask themselves about a so-so ad campaign they're running is if they're communicating to their target audience in the right ways. If the answer is no, the magazine states a business should research new mediums to reach its demographic better.
One of the best ways to know if a campaign is working, according to the source, is to determine if substantial revenues or leads are being made from it. Again, if sales and lead generation are low, then it may be time to start over with something new in terms of advertising.
Regardless of whether a firm's campaign is strong or not, the magazine suggests companies test new mediums to figure out if they're worth investing more time, effort and money in. Today, this may include new social media outlets.
For rental property management companies in particular, it may be wise to re-evaluate their target demographic and determine which type of advertising they respond to best.