Actionable Marketing Tips for Commercial Real Estate Firms
Marketing campaigns are an important strategy that commercial real estate companies can leverage to drive firm awareness, attract investors, and advertise new investment opportunities. But the effectiveness of your marketing plan is dependent on having a deliberate plan with specific desired outcomes. Whether the goal is enhancing relationships with current investors or generating new business, there are various marketing channels to choose from based on your objectives.
Read ahead to learn about some of the top digital channels to utilize in 2019 and beyond.
Pay-Per-Click (PPC) Advertising
If you need to quickly attract and acquire interest from new investors, consider pay-per-click (PPC) advertising. Pay-per-click is a type of digital advertising service where businesses pay a fee any time an individual clicks or interacts with their ads. Some of the preeminent services are Google Ads, Facebook and Instagram ads, LinkedIn ads, Bing ads, and Twitter ads. Search engine-based ad platforms such as Google or Bing give advertisers the opportunity to connect with people who are searching for topics, products, or services related to your business. The social media-based ad platforms such as Facebook/Instagram, LinkedIn, and Twitter allow you to target groups of people or audiences based on certain user demographics. While the power of PPC is undeniable, there are two major limitations on this channel. First of all, budgets can be pushed to their limits quickly as you start paying for more and more clicks. Secondly, the learning curve can be steep because all of the advertising platforms work differently. If money isn’t an issue but your advertising platform knowledge is limited then there are plenty of agencies out there that specialize in PPC.
Search Engine Optimization (SEO) and Content Marketing
SEO is a great option for firms that might not be interested in committing large amounts of cash to PPC but that do have the internal resources available to create content and make website updates. However, this strategy takes commitment because the results won’t be immediate and are typically seen weeks or even months in the future, as it takes time to build up authority and trust in the eyes of search engines. The goal is to create content that search engines like Google serve up to users, which in turn generates more website traffic. Your efforts will compound over time, creating what can sometimes seem like an exponential growth effect. Evergreen posts can pay dividends for years as people continue to search those common topics. Further, you will generate interest from potential investors by providing high-quality content and becoming a thought leader in the industry.
Social media marketing is another low-cost strategy that any business can implement, and it is one of the most effective ways to get your name out in the industry. Nurture relationships with existing investors by giving them a behind-the-scenes look at your business, real-time updates on project and properties they may be investing in, or even industry news and trends. Build new relationships by participating in or starting conversations that are relevant to your market. This channel is at its most effective when relationships are the priority. Social media communities don’t want to be sold to; they want thought-provoking conversation, education, and networking. Become an active, trustworthy, and transparent business on social media to stay top of mind with current and potential investors. Worried about the time required to post on numerous platforms? Start small with the social media networks that will be most impactful for your business.
Do you have a large number of people sitting in a CRM with whom you have never (or rarely) engaged? A well-executed email marketing strategy might be the best place for you to start. If you’re questioning the effectiveness of email, recent studies show that 95% of Americans check their email at least once a day, and the average person checks their email about 15 times a day. Email marketing is consistently the top performing marketing channel in every industry, commercial real estate included. And according to HubSpot, 86% of business professionals prefer to use email when communicating for work purposes, and another 80% of business professionals indicate that email marketing drives client acquisition and retention.
More digital marketing opportunities are available than ever before – choose one channel or combine several. More importantly, be willing to test some of the options above to figure out the best marketing recipe for your business. Whether the goal is to increase your brand awareness, engage your current investors, or attract new investors, investing and focusing on your marketing will be a worthwhile strategy for your commercial real estate firm.
To better understand how to leverage email marketing for the benefit of your commercial real estate business, download this new eBook: A Best Practice Guide to Commercial Real Estate Email Marketing.