[fa icon="calendar"] 09.01.2016 / by Michelle Heatherly
Developing an effective marketing strategy for your commercial properties can be difficult when faced with an abundance of different tactics. Where should you focus your time? What will yield the best results? Being aware of the different key strategies and how they can work together will keep you from spreading yourself too thin.
Today’s marketing strategies can be separated into two main categories: online and offline.
Establishing a highly visible online presence is a must in today’s digital age. These are some of the most reliable (and trackable) techniques for generating leads and referrals:
One of the fasted and easiest ways to makes your listings viewable is to create a listing page online. The idea is to create a centralized place where buyers can browse all of your available properties. It also allows you to track your visitors’ activities through Google Analytics and get lots of useful information.
Online Listing Website
When posting on listing sites such as CoStar, LoopNet, and Xceligent, you want to give just the right amount of information. Highlight what makes the property unique, include the correct address, and attach some high-resolution photos. The key is to tell them just enough to get them interested in calling you.
Lots of commercial real estate listings are found and sold through email blasts. Aside from using your own database, there are third-party services that will mail your listings out too. A well-thought email campaign is a great way to generate interest in your listings quickly.
Social media is an excellent tool for advertising your listings to a wide audience. You can use platforms such as Facebook, Linkedin, Twitter and Instagram to share pictures of your properties and engage with your target market. Be sure to post regular updates and respond to comments as often as possible to show people you are a valuable resource.
Online advertising is one of the newer channels for commercial real estate marketing that is quickly gaining popularity. This allows you to target specific search phrases such as “retail centers for sale in Orlando, FL” and specific geographic areas (geo-targeting) to ensure it is only seen by relevant audiences.
Despite the growth of online marketing, offline advertising is still going strong in the commercial real estate world. These offline approaches are good ways to generate trust among buyers.
Industry companies or associations host periodic networking events that allow brokers to market their properties to potential prospects and other brokers. In addition to marketing your properties, this is also a great way to stay plugged into what is going on in your market and industry.
Brokers with a highly detailed database of contacts have the benefit of being able to segment out smaller, targeted groups that might be interested in a specific listing. Although this takes more effort than emailing or social media, it can be more effective because it is highly targeted. Plus, you get to personally connect with your contacts which can go a long way.
With Call Tracking, real estate companies can build their contact database much quicker and in a more cost-effective way. Services like CallRail and Callfire allow you to track certain campaigns and call activity on a particular medium or a specific property, so you can measure, with accuracy, inbound calls received as a result of your outbound marketing efforts.
Direct mail is still an effective way to get information into the hands of buyers. Although it is more expensive than email, it is another tool available in reaching your contacts. Like cold calling, direct mail lists can be generated to send your property listing(s) to a targeted group that may be interested in the particular size or use of your space.
If your listing is in a highly visible area - such as in a high traffic area - putting up a simple “for lease” sign can do wonders. The standard sizes for property signs are 4’ x 4’ or 4’ x 8.’ Other forms of print advertising are admittedly becoming less and less popular; however, running ads in local, regional, or even national publication can still yield a return in some cases. Just make sure you are evaluating the cost compared to frequency, medium, audience (demographics) and reach beforehand to ensure your advertisement purchase will be fruitful.
The Best of Both Worlds
The best strategy includes a blend of inbound and outbound marketing efforts. Both techniques work together to achieve great results. The key is staying organized and having a plan so you can set yourself apart from the competition.