Magazine article Journal of Property Management

Property Management: Marketing a Career of Choice

Magazine article Journal of Property Management

Property Management: Marketing a Career of Choice

Article excerpt

When I tell people that my goal is to be a commercial property manager, the next question is usually, "What made you want to get into that?" At first, my answer was a not-so-brief history of my career path. Now I just say that it's something I fell into, and apparently, I'm not alone. Property management is not high on the list of desired career paths-but why is that?

This field is so multifaceted. In a given day, a property manager may step into roles in accounting, construction, marketing, human resources, finance, risk management or other fields. Here you may have the opportunity to interact with businesses ranging from mom-and-pop operations to the world's largest corporations. You might get to "add your fingerprint" to the most prominent real estate sites in the country or help families find the homes they've been looking for.

The U.S. Bureau of Labor Statistics expects our field to experience double-digit job growth through 2026. The bulk of this growth is anticipated to be driven by the increase in the number of buildings that are required to be professionally managed. So, with property management being so dynamic and rewarding, and the number of jobs expected to grow faster than average, how can we better market our profession to make it a career of choice?

FRAMEWORK

In 2009, McKinsey & Company developed a marketing model that better captures the circular journey people take in their decision-making process. They named the loop the Consumer Decision Journey (CDJ), and it has since replaced the traditional marketing funnel model. While the CDJ was initially aimed at business-to-consumer marketing, it has been found to be applicable to other efforts and certainly can be used to build a brand around the property management career. For this, attention will be focused on two stages: (1) active evaluation and (2) post-decision (post-purchase) experience. These two stages offer the most opportunity to connect with career explorers and build influence throughout the rest of the CDJ. During active evaluation, people gather information that will be the basis for their next career decisions. The post-decision experience provides insights into our profession that career seekers use to make decisions about it.

APPROACH

The target market for our efforts can be stratified into two general categories: new and experienced career explorers. Each has unique perspectives, motives and goals that must be touched upon in order to effectively reach them.

New explorers will be looking for opportunities where they can gain experience, develop skills and build personal brands. This group will typically be younger and includes recent graduates with little experience. Here we'll need to emphasize the benefits of a career in property management and clarify the journey from zero experience to mastery. We will want to reach these explorers while they are still in school, and partnerships with schools will be instrumental to that end.

Experienced explorers are either in transition or about to be. Their professional experience may range from just a few years to a few decades. Regardless, people in this group will be interested in applying the skillsets they've gained to new challenges, something property management is never short on. Our message to this group will be tailored toward our field's multifaceted nature and highlight the varied paths that can lead to success.

TOOLSET

Skill Building > Supplementing academic education with professional seminars is an effective way to build relationships with schools while reaching new explorers. …

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