Marketing Distribution Systems in Commercial Real Estate Brokerage
Every commercial real estate broker or agent should use a direct approach to marketing so they build dominant market share and listing opportunity. To do this you will require marketing distribution plans and systems.
Think about how you want to get your message and services to the right people locally. In most cases you should be using a mixture of the following marketing tools:
- Direct letters
- Success letters
- Email Newsletters
- Email blasts of listings
- Brochures
- Direct calls to existing prospects and clients
- Direct calls to new prospects
- Cold calls and warm calls
- Referrals through existing contacts
- Newspaper advertising
- Website listings and profiles
- Inbound enquiries from buyers and tenants
- Industry portals
- Social media systems
- Blogs integrating your social media
- Prospects identified in existing campaigns
- Press releases and market updates
- Editorials
- Existing client relationships
How many of these things do you use now? There are lots to do here when it comes to promoting your professional property services. In saying that, you can see the need for a plan to establish momentum. There is plenty of work to do here.
To create a plan for marketing and promotion, consider how much time you have and the costs of the processes. Prospecting letters will for example be expensive if not followed up with a telephone call. Every letter sent should be followed up in a diligent way. Track the comments that you get back through a database.
To make your promotional processes work in a meaningful way, choose the ‘channels’ that can work for you in the local area. Initially, simplify a few key channels that you can focus on given the time available. If you are a single agent or broker with limited resources, it is important to make the right choices in marketing based on time and money available. Here are some rules to help:
- Set aside 3 hours per day for direct marketing. Devote that time to contact cold calls.
- From the calls out you should be getting meetings. Aim for 2 meetings per day with new people.
- Send direct letters to prospects each week. Those groups will normally be property owners, investors, and local businesses. Given that each letter will be a cost to bear, make sure that all letters are followed up with a telephone call.
- Social media will be important to helping you build your online brand as a property specialist. Integrate a blog (or a few blogs) with your social media efforts.
As you get results from your direct marketing, you can employ others to help you with the system or parts of it. Importantly, every day you should talk to new people in your area. Understand the groups that you serve and why they could need your services. Make all your marketing messages real and relevant to the prevailing property market.
