Coordinating your marketing efforts every time you have a new listing can super charge your commercial real estate business. Strategize to make a formal plan for your business, so there’s consistency in your marketing efforts. Establish goals that are implemented on timelines with measurable success. This can help provide a better picture of your business. Let’s start your journey to success with our step-by-step process.
Before you can plan for the future, you need to look at your past to evaluate how effective your previous marketing efforts were. Start by going through every announcement, flyer, or ad and determine the success rate by comparing the influx of clients after each activity.
Conduct market research to develop a baseline about what your competitors are doing and understand your current position in the industry. By conducting this research, you can have a better idea about your target market, and it can help you identify some areas of improvement that you can focus on through your marketing efforts. This is a time-consuming step, but it yields rich data that can provide insights for years to come and help you accurately project your future growth in the business. LoopNet Solutions.
Define Marketing Goals
Start by answering some basic questions such as where I see my business in the future and who I need to target to grow my business? It’s better to establish a timeline for 1-2 years to plan activities around different events. You should divide your timeline according to short-term and long-term goals, so it’s easier to measure your performance with different metrics and have an idea about what you need to do next. 5 Goals for Commercial Real Estate Agents.
Create your Campaigns
After conducting your due diligence and research, you need to develop possible campaigns that can generate visibility and organize them in a timeline. Commercial real estate marketing campaigns can be both on-ground and online, but they both feature different types of assets.
Online marketing involves using custom websites, social media, email, and other digital assets to develop your online presence and image. On-ground activities are designed specifically to market your services the traditional way. They include flyers, brochures, signage, and conducting events to create awareness of your business. Strategies for a Successful Commercial Real Estate Marketing Campaign.
Measure Your Success
It is important to track your results through relevant metrics to develop successful campaigns in the future. An effective evaluation process considers different key performance indicators that correspond to the type of campaign you are running. For online campaigns, you can focus on impressions and engagement levels for social media posts, while for websites, you can consider website conversion rates. The overall success of the commercial real estate business is determined through lead generation. Once you have all the data, be sure to compare previous and current campaigns to understand the effect of the changes made to create better campaigns in the future.