The marketing process in commercial real estate should be special and specific to the property. In essence you must make the marketing campaign stand out as a critical requirement in solving the client’s property challenge.
Help your clients change the way they see the value of the campaign and show them how important it is to getting a timely result in a sale or lease. If you do this correctly you can win a greater share of advertising dollars for a dedicated and direct campaign, ultimately allowing you to find more buyers or tenants as the case may be.
It is a fact that a property promotion is not the only part of getting to a required sale or lease; however the promotion itself is a big part of the equation. A good property campaign supported by marketing money will generate more inquiries, and some of those can be converted to inspections and finally the negotiations and offers that are needed.
Unique Marketing Processes
So how can you make your marketing recommendations stand out as real and relevant? Try some of these:
- Build on Your Successes – Start the process by showing the client some local properties that were featured in successful campaigns. Use photos and testimonials to support that information. Where possible use properties of the same type or quality. Include the number of enquiries, inspections, and time on market for each successful listing.
- Online Differences – Many clients really don’t understand the specific strategies behind advertising properties online. You can drill down into the facts of the process. Include details of the integration behind social media, blogs, articles, case studies, and email database dispatch.
- Telephone Integration – With any exclusive listing you should be doing a good degree of telephone contact into your database. There will be people in your database that will have an interest in particular property listings. You can run a short list of people from the database and selectively refer to the telephone contact that you will make to them as part of taking the property to the market.
- Database – The size of your database and the email newsletters used in marketing will have real value in listing promotion. Show the client a few samples of how you format your listings for database email marketing. Depending on your email software, you should be able to show the client the number of hits per listing and relevance to the property type or days of the week.
- Marketing Choices – Always give the client a few marketing choices. On average the client should have 3 marketing choices to work through and choose from in promoting their property. Each package will be separately priced and estimated. Make recommendations for each package based on the target audience and market coverage. Let the client make a choice.
So there are some good things that you can do here in working with commercial real estate clients and converting vendor paid marketing dollars. Make your marketing strategies real and relevant to the property challenge; change the way the client thinks about the property marketing process. Help them see it as a successful step to resolving the property challenge in a timely way.