The vast majority of readers of this publication are obviously property managers, but we have a decent number of industry vendors who are also regular readers, and one of those readers recently suggested that I write about what PMs want when it comes to sales tactics from them. I thought this was an interesting topic, and is actually something that is beneficial to both the vendors and the PMs who are tired of annoying and intrusive sales tactics, so here we go!
What Makes Second Nature Stand Out
The first thing I think we can do is look at an example of what works. I think it’s hard to argue with the idea that Second Nature is the leading vendor in the PM industry. Everyone knows who they are, and over 1,000 companies use their services. While not everyone has the budget to throw a massive Second Nature style party, I don’t think for one second that the parties are why they are so successful at converting PMs to doing business with them. The parties are more of a “thank you” to the industry, and their sales methodology is more to credit for their success. So what does that methodology look like? We’ll take a look at a few things that I think have been so instrumental to their success, as well as some other guidance on how to sell to PMs.
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Relationships Over Sales
The first thing I’ll point out is that while there are a huge number of some of the best salespeople you’ll ever encounter working at SN, not a single one of them (at least that I know of) are high pressure salespeople. Instead, they just build relationships, even with people who tell them that they will never buy their product. I’ve lost count of the number of times I’ve been at a dinner with SN and they’ve invited other PMs who have flat-out told them that they are managing their own RBP and will never sign up with SN. Not many companies would do such a thing. Once they’ve gotten that firm “no,” they’re moving on. But not SN. They’re still building relationships.
People want to do business with people they know and like. More than anything else, I think that should be the guiding light for other vendors. It’s not as much about your demo call or your email drip campaign as it is about how you interact with the PM community. Are you a part of it, building relationships, or are you running back to your hotel room after the trade show is over and working on sales emails? Because I promise you, SN is taking people out to dinner, hanging out at the bar with the PMs, meeting other vendors who they can refer people to for other products and services, etc. Because it’s all about relationships.
Earn Trust By Providing Value First
One of the boldest and most effective things I’ve seen done in sales in this industry is SN’s offer to help people out with their RBP even if they don’t sign up with SN. I’m not sure if they’re still doing this, but I remember when they first launched RBP by Second Nature, they would literally help you put together your RBP and create a marketing flyer for you even if you weren’t using them. This is basically the equivalent of an owner calling you for PM information and you give them your lease template for free. How many PMs reading this are that brave? I’m wagering not many.
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But they go further than that. They also host free webinars, free online mini-conferences, they have a podcast, a Facebook group, etc. The whole idea is to be a free resource for people. And for the most part, they follow one of my primary rules for vendors: don’t try to teach PMs how to manage property. Instead, provide a platform for PMs to help teach fellow PMs. So instead of SN’s Andrew Smallwood going on a podcast and telling you how to manage your PM company (something I see far too many vendors doing who have never managed a property in their lives), he invites PMs on to talk about managing property. Instead of posting things on social media telling you how to do your job, they post questions, inviting PMs to provide information to each other. They are simply the free conduit for information.
For years I had people ask me “why do you give out so much free advice on social media?” I always answered “why not, what do I have to lose?” Is it really going to hurt my business by telling everyone else how I do things? Not at all. I’m not competing with you, I’m competing with the idea of self-management. And if I help you with your business, then the industry overall is just getting better and our reputation is improving. That’s good for all of us. As an industry vendor, take the same approach. Provide free information to people. That builds relationships and trust. Will a small group of people take advantage and use your free information and choose not to do business with you? Yes. But a whole lot more will be grateful for your contributions to the industry, will see you as good people trying to do the right thing, and will be encouraged to do business with you.
But be careful about what I mentioned above: don’t try to tell PMs how to manage property if you’ve never done it yourself and been successful at it. This is one of the biggest mistakes that I see vendors make. Be a conduit for information from other PMs, and provide information about your area of expertise, but do not tell us how to do our job. That just looks egotistical and presumptuous.
Do Not Disrespect My Time
I get it, cold calls are a necessity in any sales role. You have to call around to PM companies. But you know what you don’t have to do? Lie to my receptionist to get through to me. If you play that game, I will never do business with you. When I talk to fellow PMs about vendors, this is the number one complaint I hear. You should not be playing any sort of games trying to reach someone who has put barriers in place to prevent it. If a PM broker/owner has put a receptionist between you and them in order to screen calls, then you need to respect that. Tell the receptionist who you are and what you want, and then let the chips fall where they may. Move on to the next cold call if you can’t get through to that PM and then try to find other ways to reach them, such as email, snail mail, finding them at a conference, etc. If I’ve put barriers up, it’s because my time is valuable and limited, and you need to respect that.
One Call, That’s All
If I have to schedule multiple calls with you to get a full demo of your product, then either your product is so convoluted that I don’t want to use it, or you’re so bad at your job that it says something to me about the quality of your company. You should be able to give me a solid enough idea of your product or service from a single 30-minute Zoom call. If you can’t, then you need to refine your demo (or your product). Again, time is valuable. Don’t waste mine.
LinkedIn Is For Content, Not DM Spam
If you connect with someone on LinkedIn and then immediately start spamming their DMs with sales message, you are really bad at your job. Instead, post content that talks about your area of expertise. If you’re in maintenance coordination, for example, start posting about things you come across assisting PMs with maintenance coordination. If you’ve connected with people, they’re going to see that content in their LinkedIn feed. You don’t need to spam their DMs. If they’re interested, they’ll reach out. This is obviously playing the longer game, but referring back to SN, they always played the longer game. That’s what relationship building is all about. So you can play the short game now and become nothing, or you can play the long game and be the next SN a few years down the road. What makes more sense?
Promote Yourself, Don’t Trash Others
I won’t name the vendor, but I remember last year just being absolutely appalled at a marketing email I received from a new vendor to the industry offering RTM placement services. Here are some quotes from that email:
“This model we’ve developed…is likely going to put a bunch of global talent providers in the property management space out of business.”
“I love the smell of napalm in the morning.”
“Release the Kraken.”
I was so repelled by this email that I immediately unsubscribed and went and told some people I knew were doing business with him that they needed to get him under control.
You’re obviously in business because you think that you have something new or improved to offer in your space. That’s fine, that’s what capitalism is all about. But nobody likes a mean capitalist. Your meaning for existing shouldn’t be to crush your competition. If you get aroused at the thought of putting your competitors out of business, then you’re a bad person, and I don’t want to do business with you. Talk about the value of YOUR product, don’t attack your competitor. It’s just tacky and mean-spirited.
Don’t Hide Your Pricing
If I can’t see your pricing on your website, then I already think that you’re trying to hide something. And if I ask you your pricing, and you go off on this 10 minute tangent that doesn’t include your actual pricing, then you’re dead to me. ATFQ: answer the f***ing question!
I don’t care what some sales guru told you. I don’t even care what your sales director told you. If you want to be successful in this industry, you need to be transparent and you need to answer the question. If you don’t, I’m moving on to your competitor who will.
Just Be a Human
In conclusion, the best advice I can give you is to just be a normal person. Have a drink at the bar (a Diet Coke is okay if you don’t drink). Go out to dinner. Hang out after the trade show is over. Don’t lie. Don’t deceive. Don’t be a douchebag. Don’t waste people’s time. This all sound so simple, but I can tell you, a whole lot of vendors aren’t following this advice. These simple things will yield big results while a lot of the “tricks” you learn from sales gurus will leave you wondering why you’re not connecting with people. Nobody likes a used car salesman. Remember that.
Overall, just be a part of the community, not a disruption to it. If you’re doing things right, this is a very small industry, and we’ll notice it quickly and be a lot more likely to do business with you. This is all a lot easier than you think it is, I promise you.
We’re Hiring!
My property management company is looking for another BDM! If you have PM experience, and you either live in Atlanta or are willing to move here, please send me a resume. The position offers a combination of salary and per-door commission (with a heavy emphasis on commission), so we’re looking for go-getters who will put in the work to close leads. You would start off with 40+ leads from day one, so plenty of opportunity. Georgia real estate license required, or must be willing to get it prior to starting. If interested, email me a copy of your resume to toddo@revolutionrm.com
Open to Work
Are you an experienced PM industry employee looking for work? Or are you a PM company or vendor seeking the best talent? Send me your info and I’ll feature it here! And look forward to future editions where we’ll be featuring some of the best RTMs available!
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Debate Me
Disagree with my take here? Have a different perspective? There’s nothing I love more than a good debate or even just an intelligent conversation. If you’d like to jump on a podcast recording with me to discuss this topic, please let me know!
PMAssist Industry Insights is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Amen! I've long been an advocate of allowing vendors into PM groups, but it needs to come with guardrails. You're not there to spam people, you're there to be a part of a conversation and to learn from your potential customers. Too many people don't get that.
I'm glad you said it! A big pet peeve of mine is when someone posts a scenario or question or experience in a Facebook PM group and then the SAME vendors start putting their cringy comments/sales pitch on EVERY SINGLE POST. Stop it. We know who you are, what you offer and we don't need to be spammed by your posts constantly. All you are doing is creating an image of yourself that is unprofessional. I won't name names here, but Todd can ping me and I'll tell him who. Not every social media interaction needs to be or should be a sales pitch. It comes across as desperate and unprofessional.
Amen! I've long been an advocate of allowing vendors into PM groups, but it needs to come with guardrails. You're not there to spam people, you're there to be a part of a conversation and to learn from your potential customers. Too many people don't get that.
I'm glad you said it! A big pet peeve of mine is when someone posts a scenario or question or experience in a Facebook PM group and then the SAME vendors start putting their cringy comments/sales pitch on EVERY SINGLE POST. Stop it. We know who you are, what you offer and we don't need to be spammed by your posts constantly. All you are doing is creating an image of yourself that is unprofessional. I won't name names here, but Todd can ping me and I'll tell him who. Not every social media interaction needs to be or should be a sales pitch. It comes across as desperate and unprofessional.