In Commercial Real Estate, the time to close a deal can range from 12, 24, 36 – plus months. In general, this is an extremely long sales cycle, so it is essential to find creative and innovative ways to stay competitive throughout this process. To be successful at leasing space, you need to optimize, expand reach, perfect timing, and get in front of the right audience.
Optimize Your Content
The most accessible way to view and find your asset is through the content you produce. To ensure your asset is competitive, your content must consistently and accurately reflect your property’s advantages. Another way to optimize content is alternating what you’re sharing; stale content does not produce results. However, optimizing and creating content can be time-consuming, primarily when your team is focused on prospecting and leasing activities. Luckily, there are options like Managed Service, where a group of Blueprint-certified designers can take care of your asset’s content.
Expand Your Reach
The typical approach to reaching brokers and end users in CRE is to utilize your book of business or network. To spread the word about an asset, you connect with your network, schedule tours, and rely on email marketing to get in front of your audience. The question becomes, is all that enough to stay competitive? Nope. Digital marketing allows you to reach the largest audience of potential customers than ever before. Almost every person has at least one social media account, so why not place your asset where the most potential customers can see it all the time?
Timing Is Everything
Expanding on the importance of reach, the ability to reach your audience at the right time is even more critical. Pursuit marketing helps put your asset in front of prospects at the right stage of the buyer’s journey. Why waste your marketing budget reaching people who aren’t interested in leasing space? Staying competitive in CRE means utilizing tools that help connect prospects that are ready to buy with your property. Every prospect is at a different stage in their buyer’s journey, so your content must reach them when they are most likely to purchase. Partner Hub helps connect leasing activity tools with targeting features in your marketing efforts, so you can be sure you’re reaching prospects actively interested in leasing property.
Increase Your Exposure
Now, what is the right timing without the right audience? You don’t want to put effort into optimizing content, creating a budget, and developing your strategy just to reach individuals that don’t have the authority to make a buying decision or can’t help leverage the asset. As previously stated, the typical approach is connecting with your network, which isn’t enough in this competitive market. To ensure your asset is competitive, you should use targeting features to attract end-users, brokers, or current prospects touring the property, allowing you to narrow down even to an individual, company, or job title. Getting your asset in front of the right audience can help accelerate leasing and keep your property competitive throughout the entire sales cycle.
In today’s Commercial Real Estate markets, staying competitive is essential. When you adopt strategies like optimizing content, expanding reach, and focusing on timing and audience you can help guarantee your asset remains competitive throughout the industry’s lengthy sales cycle, and in turn, enable more leasing opportunities. To explore more of the specific strategies above schedule a demo today!
RealtyAds is helping commercial real estate find, advance, and close more deals by engaging decision-makers and their representation on the world’s most effective customer acquisition channels. For more information, visit RealtyAds.com and follow RealtyAds on LinkedIn, Facebook, and Instagram.