Putting together an engaging commercial real estate marketing strategy can be difficult. I’ve put together some commercial real estate marketing techniques that can be used together to create a winning marketing strategy.
Local Advertising. Claiming your business and enhancing your listing on Google, Yelp, Bing and Yahoo can be a great (and free) way to capture more local leads. Adding content to your listings with business address, website, hours of operation and social media links can bring in additional Internet leads that you’ve been missing. (Learn more about Local Advertising.)
Researching. Gather a list of property owners or leases in your area with Reonomy. You can pull a spreadsheet of commercial property contact information, filter by building type, and use a radius around your office address. Everything you need to get started with a full list of prospects can be found with LoopNet Property Records. (Learn more about Reonomy.)
Goals. It’s very important to have clear goals in both personal and professional life. These goals can be simple like “earn X amount in profit each year” or “close 1 deal a month” or “get 10 new clients this year”. Sit down and think of a realistic goal and a preferred one. Earning 25% more than last year is preferred, but 18% is more likely. Having a “super star goal” and a “reality goal” will help you from getting discouraged from consistently shooting for the stars. (Learn more about Goals.)
Social Media. A lot of people don’t get social media. It’s not about advertising all your closed deals or announcing your newest press release, it’s about connecting. If you’re the type of person that likes to take photos of your food, go ahead and post them. Love funny memes about boring meetings? Post those too. Social media has become a way for people to get to know you without doing the work of building a relationship. Which means the same techniques for making friends go hand-and-hand with social media – YOU BE YOU.
Press Releases. Clippings of your published press releases are great to show potential clients that you’re “for real”. It also may attract leads if someone sees that you’ve closed a deal that’s similar to a building in their portfolio. Getting started with press releases may like a lot of work, but once you have a list of PR contacts, emailing them your closed listing info is easy. (Learn more about getting started with Press Releases.)
Networking. Industry conventions are one of the best places to network. NAIOP, CCIM and ICSC has some great events. There also may be some great, local conventions in your area to join. Also, consider what your target market may attend. Attending World of Concrete may sound horrible, but if you specialize in developers, consider going.
Mailers. Gather a list of commercial real estate property owners from Reonomy. Once you have your list, mail a series of sales letters and postcards to your potential clients.
Short-term vs. Long-term. Trying marketing techniques can be daunting. The content, design, printing, mailing / emailing, all of this takes time and money. I always recommend trying something at least once to measure your results. Wondering if you advertised on X, would bring in new leads? TRY IT! If you can’t afford it, give your preferred medium a call and see if they will cut you a deal. If it brings in leads, add it to your long-term marketing strategy.
Review and Adjust. Not all ideas are amazing. Sometimes you’ll enact a “test” of marketing strategies. For instance, attending all trade shows, or Google AdWords, or hiring SEO consultants – and sometimes the tests will fail. Whether they were too much work for lower than expected profit or they cost you money with no results, you tried and learned something valuable. Don’t be afraid to test, review and adjust your marketing strategies as you go along. Nothing is set it stone!
Keeping it Real. I once spent over a grand trying new email systems (here’s the blog about it) and I ended up about -$15. Not including the time and effort spent creating ads and sending on all the systems. Not everything is going to work out right-away. You must test different strategies to see what works with your prospects in your area. Keep trying new things, you’ll find the best mix for you!