If you are not sure how to greatly increase your prospects, you will be, after you uncover the top five commercial real estate marketing strategies presented here. These effective marketing efforts will bring in new prospects, so you can sell. But please note, these efforts must bring in the right prospects – those who are ready to purchase what you are offering. Therefore, your marketing message must be tuned to attract your target audience. Here, you will learn about the strategies and how you can customize them to attract the right clients.
There are two types of prospects: active and inactive. Active prospects are currently looking for specific commercial real estate opportunities. You job is to get them to think of you before they start calling or emailing brokers. Inactive prospects are those who are ready to invest in a good opportunity, but they do not know it yet. You must entice them to become active with your message. The bottom line is that effective real estate marketing strategies will build awareness and confidence. So, read on to learn these strategies for yourself, and discover how to bring in many more quality prospects.
Trying to appeal to a broad market will cause your efforts to be ineffective at best. Unless you are selling general office space or a simple warehouse, there will likely be characteristics that appeal to a specific audience. Thus, narrow down your target audience to those who are seeking an opportunity like yours. Real estate marketing is much easier when you know who to target.
Now, tune your message to resonate with those you have determined to be in your target audience. You will capture less of those who are not in your target market, but many more of those within your bulls-eye will show up to inquire about your real estate opportunity. And when an inactive prospect within your target market sees your advertisement, they will more likely become active and contact you.
Knowing the traits and characteristics of your target market is paramount. What makes them tick? The answer to this will allow you to then direct how you craft materials, the story you tell about the property, and the angle of your press releases. Then, design the sales or leasing experience for that particular person. A successful message will compel them by creating a desire and revealing a nice way to satisfy that desire. Appeal is very important yet very difficult to determine, so put in the time on this one.
Sharks school together when there is food to eat – the feeding frenzy! Your competitors act just like that. To explain, they will take your prospects right out from under you. So prepare yourself before you dive in with your competition – test the waters first. Develop a sustainable competitive advantage ahead of time by building confidence and appeal within your marketing message – be prepared for a shark attack!
Real estate professionals like you are usually the first in the water with a new real estate opportunity. And sometimes, there will be no competition at first. But sharks will notice that you are feeding – gaining prospects. They will attack and devour from every angle, and big sharks will swallow you whole.
Size up your competition and rate their success based on listings and closings – how well are they doing. Then, focus on the most aggressive sharks – the ones who are killing it. If they are doing well, their message is resonating with those in the target market. Study their brand in full. Start with their message and their look, and then dive into their real estate marketing strategies.
Now that you understand what is working for them, mimic some of it. Utilize similar marketing strategies. Then, based on your target market and your message, blindside your competition with surprises. Build on their successful campaigns by adding a well-thought-out twist, showing how you offer a better opportunity.
In simple terms, signage informs prospects about your commercial real estate brokerage and the opportunity you have to offer. Signs catch their attention while outside or on the road. To effectively advertise using signs, you must convey your message quickly. Then, display a concise call-to-action. The most important concept to remember when you advertise using signs – the message must ALWAYS be about them, not you.
Signage is especially effective with people who are new to the community or who are just passing through. Therefore, if your business is new to the community, your signs will have an impact on everyone, in the beginning. Knowing this, if you advertise using signs that are effective, and place them in strategic locations, they will attract your target audience if you have made the opportunity pleasing to them.
Now create an eye-catching banner, monument sign or window graphic, and make sure your commercial real estate company is well branded and consistent.
This is where your real estate opportunity can shine. Take the time to find third-party journalists, industry influencers, market analysts and commercial real estate bloggers. If they show up on the first page of your Google search, they’re probably popular. Now, prepare a list of local commercial real estate professionals that you think can sell your property. Finally, extend an invitation to your property for a special networking event. Make sure you are prepared. You must be ready to deliver good information about the property, its history, and any stories from the property itself. Give them something to write about.
Go all out! This special networking event must be elegant, fun, and memorable in more ways than one. From the food and beverages to the decorations, make sure the quality is top-notch. Now add something unique, like a magician or a comedian. If you can integrate their act with your presentation, it will be more likely to stick.
Create your real estate marketing blueprint in the form of a comprehensive plan. In this plan, you must articulate every marketing effort you will perform in order of priority. Then, put a timeline to it. Take the time to map out a realistic schedule based on the time it takes for each step. And since many of your marketing strategies will be performed by vendors or members of your team, be sure to schedule many of your marketing efforts in parallel.
Prepare a comprehensive overview of your mission, unique selling point, target audience, real estate marketing strategies and metrics to measure the success of each strategy. These details will provide an outline for your real estate marketing plan.
Milestones are an integral part of planning. Therefore, set your marketing goals ahead of time, so you can track your accomplishments effectively and efficiently. Then, determine the timeline for each milestone and identify which ones are critical path. Those have higher priority since then must be in place before other milestones can be met. For example, your marketing message and your value proposition must be determined and articulated prior to creating and publishing your ads.
Once you have your commercial real estate marketing strategies rolled into a well-written plan, you will be ready to execute that plan, so let the work begin.
Take a thoughtful approach and commit the time and resources needed to deliver a tremendous customer experience across all marketing mediums. This is called cross-channel customer experience. Since customers usually deal with multiple points of contact at companies, consistency is very important. If an agent tells a prospect one thing, but an assistant or someone else in the office tells them another, they will certainly feel stressed and confused. This kind of experience causes prospects to look elsewhere, and then migrate to your competitors.
Having a consistent company theme throughout your organization causes your customers to become accustomed to the environment you convey to them from all points of contact at your company. Familiarity can be achieved, which is very powerful! When familiarity is layered onto great customer service, prospects will come back to you as loyal clients.
No matter how hard you work on developing your best possible marketing plan, poor execution is the biggest cause of failure. Even poorly-written plans can be used as a guideline when you implement each of the real estate marketing strategies you have decided to use. Therefore, if you don’t work hard and most importantly, work smart, chances are, your marketing efforts will fail.
Practice careful strategic planning before and during your plan execution, which is paramount. Maintain a marathon mindset as you proceed, and you’ll get over the difficult hurdles one-by-one. Finally, avoid plan-execution spin-out. This simply means losing your focus and being distracted. Don’t fall into the trap of spreading your game plan thin and lose focus on core objectives.
Taking shortcuts and shooting for quick success is the most common approach to marketing plan execution. Failure is the most common outcome. So, learn from this and plan to suffer through the difficulties without giving up. Your real estate marketing strategies can succeed, but you must follow through.