When it comes to leasing or selling a commercial property, you can’t afford to take things slow. You must adopt an aggressive and proactive strategy that increases exposure and connects you with as many prospective renters or buyers as possible.
Try These 4 Marketing Tips
In many senses, commercial real estate marketing is unique. But in other ways, it’s largely the same. And when you drill past all of the surface-level details, the core remains the same. In order to win with marketing, you must have a healthy blend of earned, paid, and owned media.
Earned media refers to any marketing activities that you “earn” via relationships and advocates. Examples include SEO, social media, and organic networking.
Paid media refers to performance-based marketing and advertising. This includes PPC ads, influencer marketing, and other forms of paid advertising.
Finally, owned media refers to the assets that your brand is in charge of, such as your website, blog, and email marketing list.
To win with marketing, you need a healthy blend of all three of these categories. A failure to account for anyone’s area could compromise the integrity of your entire campaign. Having said this, here are a few helpful tips:
1. Be Real With Yourself
Nobody wants to spend more than they have to on marketing a listing, but a failure to execute a well-aligned marketing strategy can suppress your results and limit your ROI.
If you have the internal resources to plan and execute an effective property marketing strategy, go for it! But if you’re lacking, you’re better off outsourcing to someone who can handle it with greater skill and efficiency.
Though standalone property marketing firms do exist, it may be worthwhile to hire a commercial property management service that can handle everything from property marketing to profit maximization. This streamlined approach makes things easier on your team.
2. Prioritize Your Visuals
Nobody makes a purchase or leasing decision based on listing photos. However, listing photos do have the power to pique interest or turn a qualified prospect away. Thus the right listing photos can make all the difference.
The difference between good listing photos and great listing photos is often razor-thin. The impact, however, is quite noticeable. Good listing photos will give an interested party an idea of what the property looks like. Great listing photos leave a lasting impression that compels them to schedule a tour or show.
If you don’t have a skilled photographer on your team, this is something you’ll want to outsource. And remember that you typically get what you pay for!
3. Optimize Listings for Search
These days, it’s not enough to write listings with your target buyers or renters in mind. You also have to consider the algorithms for search engines and listing sites.
Optimized listings – which includes optimizing for content, keywords, categories, etc. – ensure your properties show up in the right searches. Focus on drumming up as much perceived value as possible, while also accounting for all of the technical elements that the algorithms demand. (This requires some finesse and experience. But once you learn how to balance these related concepts, you’ll become skilled at generating visibility.)
4. Improve Your Email Strategy
Don’t underestimate the importance of having an effective email marketing strategy. This is one of the best ways to promote your properties to a targeted list, drum up attention, and convert leads into deals.
The key to a successful email strategy is to have a large list of engaged leads. Thus you have to be serious about building your list and nurturing it on an ongoing basis (not just when you have a property to share).
One tip is to create a weekly newsletter that’s non-promotional in nature. This newsletter keeps people abreast of what’s happening in your city or industry while including a couple of listings at the end of each message. It’s a good way to add value without overwhelming your list.
Embrace Better Marketing
Effective commercial real estate marketing requires discipline, patience, and a willingness to embrace both novel methods and innovative approaches to create a seamless experience that connects your property with the right tenant or buyer. If you’re willing to learn this art, you’ll go far in your career.