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Are you ready to take your commercial real estate marketing to the next level and boost your business’s growth?
In the current competitive landscape, crafting an effective marketing strategy is essential for differentiation and attracting the attention of potential tenants and investors. These clients now expect rapid and seamless experiences when searching for new properties and investment opportunities.
With over 80% of buyers and tenants initiating their property search online, it’s imperative to develop a commercial real estate marketing plan that goes beyond traditional methods like flyers, brochures, and Facebook marketplace listings.
What is Commercial Real Estate Marketing?
Online marketing is a crucial tool for showcasing your properties and distinguishing yourself among other real estate professionals.
For many in the commercial real estate sector, creating an effective marketing plan can be a daunting task. However, embracing a range of digital marketing strategies can significantly enhance your online presence. These include accurate branding and targeting, enhancing your website, engaging in content marketing, utilizing Pay Per Click advertising, leveraging social media marketing, implementing email marketing, optimizing for search engines (SEO), utilizing business listings and directories, managing your online reputation, and listing properties on dedicated commercial real estate portals. Each of these elements plays a vital role in making your listings more visible and appealing to your target audience.
Top 20 Commercial Real Estate Marketing Strategies for 2024
1. Set Goals and Identify Your Ideal Audience
A successful commercial real estate marketing strategy begins with a clear understanding of your goals and audience. Without this foundation, it’s challenging to craft a plan that effectively resonates with potential clients and drives growth.
Consider these essential questions:
- What criteria do your ideal clients use in decision-making?
- Where does your audience predominantly engage online?
- What strategies will you employ to reach them?
- What creative assets are necessary?
- What tools and resources are required?
- What is your budget?
- How will success be measured?
Conduct a brief analysis of your competitors’ marketing methods to gain insights. Understanding how you can differentiate and excel in comparison is crucial. Taking the time to clearly define your unique selling points will solidify the basis for your future marketing communications and materials.
2. Consider the CRE Marketing Tools and Software You Need
Effective execution of your marketing strategy requires the right commercial real estate tools. Your “marketing stack” should cover diverse needs like contact management, email marketing, and listing presentations.
Carefully select your technology to avoid frequent platform switches, which can hinder productivity and effectiveness. Companies that streamline and optimize their marketing processes tend to achieve sustained growth and success.
3. Develop a Commercial Real Estate Marketing Plan
A real estate marketing plan offers a detailed overview of your mission, unique selling proposition, target audience, strategies, and success metrics.
Your plan should include:
- Business Summary
- Target market and audience
- Budget
- Marketing channels
- Marketing materials
- Metrics
A robust marketing strategy should utilize a balanced mix of Earned, Paid, and Owned media. Earned Media encompasses SEO and Social Media, which are typically free. Paid Media covers performance-based channels like pay-per-click and paid advertising. Owned Media includes your websites, blogs, social media profiles, and email marketing lists. Distribute this mix across various channels to mitigate risk if a particular marketing area underperforms.
Consider the content needed for different property types and audiences, as the marketing approach and budget for an industrial property might differ from that of a multifamily property.
4. Create Feature-Rich Property Websites
In today’s day and age, a strong digital presence is crucial. Without it, competitors may surpass you.
Interactive property websites are excellent for showcasing commercial properties. They should include:
- Professional photography
- Property videos
- 3D virtual tours
- Availability information
- Floor plan PDFs
- Interactive maps
5. Segment and Build Targeted Email Campaigns
A well-executed email marketing strategy is among the most cost-effective methods to engage prospects and convert them into deals in commercial real estate. Building and segmenting a database for targeted email communications is a crucial marketing activity to fuel your sales or leasing efforts.
You can start building your database through your website, blogs, and lead capture pages. Whether using a commercial real estate CRM, email marketing software, or manual contact storage, have a strategy to grow and nurture your user base.
6. Add Your Listings on Commercial Real Estate Portals
Listing on commercial real estate services and portals is an effective way to advertise property for lease or sale. These platforms offer exposure to a relevant audience.
In addition to Costar and LoopNet, there are other notable commercial real estate listing sites to consider for promoting your properties and generating leads.
7. Upgrade Your Company Website
Your company website often makes the first impression on potential clients and is vital for building trust and confidence.
It can also be a significant marketing tool, showcasing company news, thought leadership through blogs and research studies, and promoting properties with a commercial property search engine.
Before partnering with a commercial real estate marketing agency, prepare questions to assess their experience and professionalism.
8. Create a Google My Business Profile
Google My Business, a free service, enhances local business visibility online. It allows users to find relevant results based on their location and search queries.
Creating a listing for your property on Google My Business increases visibility, ensuring it appears in Google search results and on Google Maps. This feature allows potential clients to explore the property’s neighborhood before inquiring for more details.
A business profile on Google My Business also allows you to post photos, offers, respond to reviews, and keep your business information current.
9. Optimize Your Website for SEO
Developing a real estate SEO plan early is crucial. Visibility from search engines can significantly impact your business, drawing tenants, brokers, and investors to your website.
However, remember that SEO is a long-term strategy and may take months to show results.
10. Create a Paid Social Media Advertising Strategy
In addition to organic strategies, performance-based advertising campaigns on LinkedIn, Twitter, and Facebook can significantly boost awareness and website visits. These platforms offer targeted advertising options, allowing you to specify the audience, timing, and location of your ads. For instance, if leasing a life science property, you could target C-level executives in the bioscience industry within a specific region.
11. Nurture Your Contacts with Useful Content
Nurturing contacts with content keeps your business top of mind and engages prospects until they’re ready to interact with your services.
Many commercial real estate companies struggle with content marketing. The key is to produce high-quality content that is useful, relevant, or entertaining, rather than just adding to the noise. This can be achieved through various formats like blog posts, market studies, infographics, and videos.
12. Share Your Content on Social Media
Using social media for commercial real estate marketing is a free and effective way to increase brand awareness and direct traffic to your website. Utilizing platforms like LinkedIn, Twitter, and Facebook for promoting listings and engaging in conversations can be highly effective. These networks are particularly relevant for commercial real estate, making them prime channels for active participation.
13. Regularly Publish Press Releases
Press releases are a valuable tool for connecting with journalists and influencers in the commercial real estate sector. Research the appropriate contacts within your target publications to ensure your press releases reach the right people. Over time, you can build your own network of influencers, saving significant costs on PR agency fees. While initial press releases might not garner much attention, consistent outreach can lead to valuable press mentions, boosting brand awareness.
14. Set Up a Google Ads Campaign
With millions of searches happening on Google daily, many are likely related to your commercial property or business. Google Ads is a powerful tool for setting up commercial real estate advertisements. While real estate keywords can be costly, the platform allows you to control your ad spend and pause campaigns at any time.
15. Target Your Visitors through Remarketing
Remarketing transcends traditional display advertising. When visitors come to your website, a cookie tracks them, allowing you to target them with relevant ads as they browse other websites. This technique is highly effective for keeping your properties and company top of mind, and for drawing previously engaged visitors back to your listings or website.
16. Set Up Paid Commercial Real Estate Ads Through Display Campaigns
Display advertising, available in various formats, can quickly elevate brand awareness. Platforms like Adwords offer granular targeting options and the ability to choose specific websites for your ad placements. This method can effectively advertise your commercial real estate to a broad or highly targeted audience.
17. Attend Industry Events and Conferences
Attending commercial real estate conferences offers invaluable opportunities for networking, relationship building, lead generation, and gaining insights into industry and market trends. The ability to forge numerous relationships and engage in face-to-face interactions in a short time is a unique advantage of these events. However, a strategic approach is crucial, given the significant cost of attendance and participation.
18. Advertise on Trade Journals
Commercial real estate trade journals and online publications are frequently read by potential investors, brokers, and industry peers. Most of these journals provide advertising opportunities to reach either a large, national audience or a more specific regional segment. Advertising in these journals can enhance visibility, credibility, and lead generation, making it a vital part of your marketing strategy.
19. Leverage Video for Your Properties
Video is an incredibly effective marketing tool in commercial real estate. It allows potential buyers or tenants to get a feel for the property before an in-person visit. Video tours highlight unique features and give a sense of size and layout, aiding in generating interest and speeding up the decision-making process. Additionally, videos and 3D virtual tours are easily shareable on social media and other online platforms, increasing visibility.
20. Measure Your Success
Remember the fundamental principle: “If you can’t measure it, don’t mess with it.” The most crucial aspect of a successful commercial real estate marketing strategy is to measure the effectiveness of your activities. Define key metrics for each marketing channel, establish a real estate marketing report, and make data-driven decisions to refine your efforts continually.
Avoid letting your strategy become stagnant. Always test new ideas and tactics to see what works and what doesn’t. Most importantly, keep track of how your marketing strategies are impacting your business goals. If you can’t quantify their effect on lease-ups, sales, or tenant retention, it’s time to revisit and revise your approach.
Navigating the dynamic landscape of commercial real estate marketing requires a multifaceted approach. By integrating a mix of traditional and digital marketing strategies, from targeted email campaigns and social media presence to remarketing and attending industry events, you can significantly enhance the visibility and appeal of your properties. Remember, the key to successful marketing in this sector is not just about showcasing properties but also about building relationships, understanding market trends, and leveraging technology to reach and engage your target audience effectively. Stay adaptable, measure your results, and continuously refine your strategies to remain competitive and achieve your business goals in the ever-evolving world of commercial real estate.
FAQs about Commercial Real Estate Marketing Strategies
What are the most effective digital marketing strategies for commercial real estate?
Digital marketing strategies like SEO, targeted email campaigns, social media advertising, and content marketing are highly effective. Using platforms like Google Ads and commercial real estate portals can also significantly boost visibility.
How important is social media in commercial real estate marketing?
Social media is crucial for building brand awareness, engaging with potential clients, and driving traffic to your website. Platforms like LinkedIn, Twitter, and Facebook are particularly beneficial in the commercial real estate sector.
Can video marketing impact commercial real estate sales?
Absolutely. Video marketing, including virtual tours and property showcases, can significantly enhance a property’s appeal, provide a realistic view, and speed up the decision-making process for potential buyers or tenants.
What role does SEO play in commercial real estate marketing?
SEO is vital for increasing the online visibility of your properties. It helps your website rank higher in search engine results, making it easier for potential clients to find your listings.
Is attending industry events still relevant in the digital age?
Yes, industry events and conferences remain important for networking, learning about market trends, and building face-to-face relationships, which are hard to replicate through digital channels alone.
How can remarketing boost commercial real estate marketing efforts?
Remarketing allows you to target visitors who have previously engaged with your website, keeping your properties top of mind and encouraging return visits to your listings or company website.
What is the importance of measuring marketing success in commercial real estate?
Measuring the success of your marketing strategies is crucial for understanding their effectiveness, making data-driven decisions, and ensuring that your marketing efforts align with your business objectives.
Should commercial real estate businesses use paid advertising?
Paid advertising, including Google Ads and social media ads, can be an effective way to reach a targeted audience, increase brand awareness, and drive traffic to your listings or website.
