Commercial Property Marketing Strategy
Are you looking for a cost-effective commercial marketing strategy? It may be that your leasing team has disappointed you or your property listings are not getting the attention they deserve. Owning a large property or an office development may sound like a big deal, but that’s only true if you also have a strong marketing strategy. So, let’s go through the basics of advertising in real estate and learn where it’s best to invest your budget.
What Are Some Examples of Marketing Strategies in Real Estate?
If you want to promote your commercial properties, by now you must have had some contact with a number of marketing strategies used in this industry. Some of the most popular formats are flyers, brochures, leasing signs, and virtual tours, all of which are considered to be traditional but effective marketing formats.
However, if you feel like you aren’t advertising your properties properly it may be that you are not tapping into the potential of some other techniques that are available to you. Keep on reading as, in the next paragraphs, we’ll discuss why email marketing, social media platforms, and local journals work best in this industry.
Commercial Property Marketing with Email List
Email marketing can be used as an excellent marketing medium because it gives you the chance to get your real estate listings in front of a larger audience. Email marketing can be an effective technique to attract prospects with minimal time and effort but it can also be a waste of resources if you don’t use it properly. Here are some tips you can follow so you can create a better email strategy.
Make sure you don’t hammer your audience with the same email all the time because you’ll notice a decrease in the number of your subscribers in no time. There are just too many generic emails that people receive every day so some prospects may not be interested in your property just because of the unappealing content of your email.
Keep it simple, clear, fun, and, most importantly, don’t send emails that contain only listings. This is a mistake often done by both marketers and agents – sending out a “listing blast” won’t keep your audience engaged for longer than a couple of weeks.
To provide value, add links that lead to educational articles on your website so your prospects find you as a reliable source of information.
Add an “Opt-in” System
When it comes to email marketing, nothing is more important than your database, so make sure to put a subscription button on your website and listings. By collecting emails from your website, you’ll have a database of people who have already shown interest in your business, that is, leads, so you avoid sending emails to a random group of people.
Entice prospects to join your email list by publishing market reports, industry news, and case studies – keep in mind that people will join your email list only if they find the information you offer valuable and interesting.
Also, provide your prospects with the opportunity to “opt-out” of your email list. In some countries there are laws that require businesses to add an “opt-out” of their email system, so be sure to check the laws in your location.
Commercial Property Marketing With Social Media
With 82 percent of the U.S population using social media platforms, agents and property owners who want to advertise their property listings have no choice but to use social media giants such as Facebook and Instagram to reach a larger audience.
The great thing about these platforms is that they allow immediate interactions with your target audience, as well as customer feedback. However, just posting from time to time won’t bring you much success as these platforms are very competitive, particularly when it comes to real estate. That’s precisely why you need to take into account that every social media platform attracts different types of prospects and not every type of content will be a social media success.
It’s important to adapt your strategy to the platform that you’re posting on. For example, attracting customers with written content may not work on Instagram, but this marketing format can be successful on Facebook.
A survey done by The National Association of REALTORS showed that 73% of homeowners are more likely to engage with a realtor who displays a video of the properties, yet just 10% of agents create listing videos. So check stats, follow the formats on each platform, and, most importantly, advertise your properties in a way that allows you to bring them closer to the audience.
Commercial Property Marketing With Local Business Journals
While newspapers and business journals might sound like a traditional form of marketing to you, in the real estate industry, they remain a strong technique for targeting prospects. The thing about local business journals is that they usually have a loyal audience mostly consisting of agents, investors, and business owners, which is a great starting point if you want to get noticed by local decision-makers in your industry.
Plus, these types of journals usually offer packages that include ads which gives you the chance to advertise your listings to a narrow audience that’s likely your target. Different journals offer different advertising packages and the cost depends on the type of ads and the size of the audience.
If you use this marketing technique for your properties, be sure to advertise your property listings on platforms that have a large audience and offer extensive packages with more options such as display ads and sponsored content in their journals.
How Do You Market a Commercial Property?
If you want to generate more leads and close more deals, just remember that consistency is key. There’s an “old marketing rule of 7” which says that you need to have at least 7 interactions with a client to close a deal. So, if there’s only one thing that you would keep from this article, then let that be – consistency is key. Tap into the potential of social media platforms and advertise your properties on a regular basis.
If you want to close a big deal, you will also need to create a big fuss around your asset and put a little more effort into posting eye-appealing images of your properties. People will remember your real estate profile and engage with you only if you create an exciting brand story that goes beyond posting demographic stats and business news.
Storytelling can be a powerful tool in the real estate industry as there’s just so much you can do: tell the stories of the people in your neighborhood, share news and opinion pieces about the best and worst venues in the area or just post a live story of a local artist. Keep it fun and avoid the official tone that most marketers in this industry use – this would set you apart from most agents. This is important as hell because, in a world where we’re flooded with thousands of ads on a daily basis, people have more developed sensitivity for “grab-for-business” posts.
Also, instead of just displaying long property listings, use your email marketing wisely by sprinkling in some free content that gives value to readers and that would nurture the relationship you have with your audience.
Last, but just as important, tap into the relationships you have with local real estate agents and learn from them. Analyze their marketing strategies for ideas, make changes, and always track which marketing technique turned out fruitful for your business and just double down on that.