According to a recent report, 80% of CFO’s believed that global commercial real estate market revenues will increase in 2022. It’s no wonder that the competition to sell or lease commercial property is fierce. That’s where digital marketing comes in.
Marketing commercial real estate has always been an essential part of the industry, but with the advent of digital tools and techniques, the marketing landscape has changed drastically. Digital marketing allows for a more targeted and personalized approach to reaching potential buyers or tenants, making it an indispensable tool for commercial real estate professionals.
Today, digital marketing is more important than ever, as people increasingly rely on online resources to research and shop for real estate. In fact, according to the National Association of Realtors, 97% of consumers use the internet to search for homes or commercial properties.
In this article, we’ll explore how digital tools and techniques have changed the way we market commercial real estate and why it’s crucial for success in today’s market. Whether you’re a commercial real estate broker, agent, or property owner, understanding digital marketing is essential to staying ahead of the competition.
Why Digital Marketing is Crucial for Commercial Real Estate?
While many realtors stick to traditional marketing tactics (usually heavily reliant on networking) when selling commercial real estate, more are shifting towards digital marketing opportunities. Digital marketing involves much more than selling and can be used to attract potential buyers or tenants to a property, create brand awareness, and generate leads.
One of the main benefits of digital marketing is that it allows for a more targeted approach to reaching potential clients. With digital marketing, you can use data and analytics to identify your target audience, create customized messages, and deliver them through the right channels. This can lead to higher conversion rates and a more effective use of marketing resources.
There are several digital marketing channels available for commercial real estate, including social media, email marketing, search engine optimization (SEO), and pay-per-click (PPC) advertising.
Each channel has its strengths and weaknesses, and choosing the right mix of channels is essential to a successful digital marketing campaign.
Creating a Digital Marketing Strategy for Commercial Real Estate
While the basics of digital marketing are the same for residential and commercial real estate marketing, each avenue requires a completely different strategy.
The first step in creating a digital marketing strategy for commercial real estate is to define your target audience. Who are your ideal buyers or tenants? What are their needs, pain points, and preferences? Once you have a clear understanding of your target audience, you can develop messaging and content that resonates with them.
Other important components of a digital marketing strategy for commercial real estate include creating a content marketing plan, identifying the right channels for promotion, and defining key performance indicators (KPIs) to measure success.
Leveraging Digital Tools and Techniques
There are many digital tools and techniques available for marketing commercial real estate, each with its unique benefits and drawbacks. Some popular tools and techniques include:
- Virtual tours and 3D renderings: These allow potential buyers or tenants to view a property remotely, which can be especially useful for out-of-town or international clients. Nowadays, there are a range of augmented reality real estate apps that can be used for this.
- Email marketing: This involves sending targeted, personalized emails to potential clients, and can be an effective way to build relationships and nurture leads.
- Social media advertising: Platforms like Facebook, Instagram, and LinkedIn offer targeted advertising options that can be used to reach specific audiences.
- SEO: This involves optimizing your website and content to rank higher in search engine results, which can increase visibility and attract more traffic to your site.
- PPC advertising: This involves paying for ads to appear at the top of search engine results or on social media platforms, and can be an effective way to generate leads and conversions.
If you’re a real estate broker or hold another high paying job in real estate, it’s crucial that you use a combination of these tools when marketing your brand.
How to Optimize a Digital Marketing Strategy for Commercial Real Estate
Once you have a basic marketing strategy and have access to the necessary tools for a successful campaign, you’ll need to optimize your digital strategy.
Here are 4 key metrics to keep in mind when optimizing a digital strategy for commercial properties:
- Consistency: Ensure that your messaging and branding are consistent across all channels.
- Quality content: Create high-quality content that provides value to your audience and showcases your expertise.
- Mobile optimization: Make sure that your website and content are optimized for mobile devices, as many people use their phones to search for real estate.
- Measurement: Monitor and measure your digital marketing results regularly to identify areas for improvement and adjust your strategy accordingly.
As with any other marketing strategy, you’ll need time to achieve results, even though more than 50% of all marketers believe that digital marketing will give you better results.
If you’re a realtor or real estate broker and haven’t yet implemented a digital marketing strategy for commercial properties, it’s high time you do so! While the residential property market has almost exclusively shifted online, there is still a gap for commercial properties.
With the right strategy, tools and knowledge of customer search patterns, you can implement a successful digital marketing strategy for your commercial properties.
Finally, remember that digital marketing is only one avenue, and you’ll need a range of strategies to grow your commercial real estate business fast.