The shopping centre marketing process is quite specific and will help the property and the tenants attract more ongoing business. Every successful shopping centre should have an established marketing program for each trading year. That marketing program should be merged into the business plan for the property, together with the necessary costs and campaign commitments.
So the successful marketing campaign will help the tenants within the property succeed from a business point of view. That then helps the landlord minimise the vacancy factor in the property and strengthen the market rentals for each and every lease. The occupancy rates in a successful shopping centre are generally quite strong. Tenants from nearby properties will understand success of the property and seek to occupy when vacancies occur. This then helps the overall leasing strategy in the property business plan. Here are some tips to help you with the marketing process of a successful shopping centre:
- Match the marketing process to the customer demographic and the regular shopper. To achieve this you will need to undertake a number of marketing surveys at different times of the year and on different days of the week. Look for the patterns that help you determine the primary profile of the typical shopper.
- Given that the property is located in a town or a city, you can match the marketing of the property to the seasonal holidays and city celebrations. A further extension of that promotion can occur if your property attracts or is involved with the tourism industry or services tourists as part of the customer profile. This would happen if the property is located in a prime tourism area.
- Look at the competing properties in the area and your proximity to them. Are there any differences between properties that can be strengths or weaknesses to the marketing process? Can you enhance your marketing effort to attract shoppers from competing properties? Can you strengthen your marketing system to encourage people to shop more frequently within your property?
- Split your customers into groups and understand how the tenancy mix provides the necessary services and products that the groups are seeking. From that point you can get particular tenants involved in the marketing process with their typical customer profile.
- Whilst you will have an overall marketing plan for the property, you will have segments of the marketing plan directed to the clusters and zones of tenants. Understand how you can market specific areas such as the food court, the entrance way, malls or common areas, an entertainment or stage area, and particular tenant clusters such as fashion, food, and entertainment.
- Split the calendar year into seasonal festivities and public holidays. Some of your tenants should support and supplement the marketing process at those times. You can also develop a series of competitions or discounts to be distributed through the tenancy mix. Get your tenants to support the process.
The best way to move ahead with a marketing strategy for a shopping centre is summarised in one word; that is involvement. All parties to the process should be consulted and involved. That will involve tenants, the landlord, community, and the visitors to the property. It is a fine balance that requires careful consideration and ongoing strategy. Your marketing plan will need to be incorporated into the business plan for the property, and adjusted throughout the year as required.