Situation
Hines and Ivanhoe Cambridge partnered on a new development delivering mid 2021 – The Stack Deep Ellum. The asset team realized their marketing efforts were missing an effective tool to keep their building’s messaging top of mind throughout the entire, uniquely long commercial real estate sales cycle. To make sure their asset’s key features were not lost in a broker’s comparison matrix, they sought a marketing tool to keep telling the building’s “why” post-tour, all the way until a lease is executed.
After an introductory demonstration, Hines and Ivanhoe Cambridge decided to present RealtyAds to their 3rd party leasing team. No less than 30 days later, ownership and the brokerage team were educated and began using RealtyAds Pursuit Marketing to start reaching targeted brokers and c-level decision-makers throughout the entire pursuit.
Solution
Hines, Ivanhoe Cambridge, and their representation Alt Schuler, quickly leveraged RealtyAds ability to proactively share The Stack Deep Ellum’s messaging with a hyper-targeted audience of their choosing. Knowing the pursuit in commercial real estate does not end after a tour, the Alt Shuler team gathered and uploaded a list of key stakeholders at all their active pursuits and uploaded them into RealtyAds Targeting Settings.
Once The Stack Deep Ellum built its online presence through RealtyAds, the asset immediately began reaching target audiences more effectively than ever before. When a building is able to reach the right people at the right time, and over the entire life of the transaction, it has a much better chance of turning a tenant pursuit into a tenant.
For example, in Q2 and Q3, the Stack Deep Ellum was chasing a number of key occupiers. Two of these tenants are especially notable for their size – one a 25,000 square foot logistics company and the other a 40,000 square foot life insurance provider. Without RealtyAds, there would be no way to successfully and routinely reach the decision-makers at these companies. With RealtyAds, the brokerage team was able to identify these companies as key pursuits, target them through RealtyAds, and then further influence the customer by routinely reminding them why their building stood above the competition.
Great brokerage with the right technology produced results for Hines and Ivanhoe Cambridge.
From tour to RFP, to LOI, and through lease negotiations the building was never subjected to being buried in a comparison matrix. Instead, it was brought to life on the world’s most advanced marketing channels including Facebook, Google, Instagram, and LinkedIn. Both of the above prospects, who were reached more than 100 times throughout their 6+ month pursuits, executed a lease at the property. These transactions translated into roughly $35,000,000 in transaction value on less than $10,000 of RealtyAds.
Takeaway
Tenant pursuits do not end once a tour is secured – they’re only just beginning. However, most buildings have no way to reach the tenants post tour. It is critical that commercial real estate catches up with other industries in reaching their customers as important buying decisions are being made, not just on a 20-minute tour. There is no other medium more effective than RealtyAds at accomplishing this.
Additional Benefits
RealtyAds led all forms of marketing in broker reach:
RealtyAds increased broker reach by 235%
RealtyAds led all forms of marketing in tenant reach:
RealtyAds reached over 400 companies, specifically reaching targeted decision-makers and top prospects defined by the local brokers over 120 times
