When it comes to CRE marketing we have been doing the same things for a long time, but technology is adding a new spin to three principle tasks. Unlike selling widgets, CRE marketing has three major stages, each with its own set of strategies and tactics. First, you need to win business. That means getting hired by a property owner. Then you need to promote the asset to generate leads, and finally you need to convert leads into transactions.
Winning Business – Use Social Media and Digital Marketing to build your brand and reputation
For CRE companies and professionals to win business they need to demonstrate their expertise. While the conventional means of public speaking, community involvement, and print media are still critically important channels to reach limited audiences, social media and digital marketing now provide every real estate company and agent the ability to efficiently communicate their message to the world. Creating meaningful content that demonstrates your expertise, allows you to gain trust and confidence with a broad audience – all pointed towards building a more personal relationship. Whether seeking to recruit new agents to grow your business or find new clients to engage your services, building your brand and reputation is an essential first step. Employ social media to communicate broadly and then deploy digital strategies to send timely, targeted messages to dramatically and cost effectively enhance your success.
Generating Leads – Showcase your properties with video and virtual reality
Now that you have an asset to sell or lease, the pressure is on to perform. Simply putting a sign out and waiting for the phone to ring is not the answer. Start with a carefully maintained comprehensive database of potential buyers or tenants and target your best prospects. Then, formulate a plan to make your property stand out from the crowd. Flyers and brochure mailers are great, and e-marketing with social and digital media support is even better. However, there are better (cost-effective ways) to showcase your properties. Video is now readily accessible through your mobile device. Easy to capture, distribute and consume, new video apps make user-generated content professional in presentation and accessible to the market. For an even greater wow-factor, try virtual reality. This powerful and compelling technology is becoming increasing accessible both in terms of cost and availability. But that is rapidly changing. With VR you can transform current spaces or envision entirely new developments, allowing your prospects to immerse themselves in a space before it even exists.
For examples, click below.
Accelerating Transactions – On-line Deal Rooms/auctions drive transparency and efficiency
The final step is converting your leads into actual money. Often, potential buyers lack the sense of urgency required to drive a deal to a timely completion. By controlling the environment and setting a process with a date-certain sale, your marketing strategy changes the game. Set up a secure Deal Room with all the required due diligence information. Manage access with a tiered level of security. Monitor engagement, encouraging those most active and enticing those that have yet to connect. By hosting all of the documents, you are aware of all activity and can easily measure market response and then identify the best prospects to set up aggressive bidding. Once this is accomplished, set your call for offers in either a closed or open bidding environment, and you are at the finish line!
Unlimited Deal Rooms are available in MarketEdge, RealNex's financial analysis / report generator platform. Want to learn more? Download a MarketEdge info sheet here. Or schedule a demo for a complete walk-through.