Marketing Best Practices
The marketing phase for commercial real estate investment sales is critical to ensure you generate enough interest to yield a healthy sales pipeline of prospects. To position yourself at the head of the pack and command attention from your target prospects, you need the right tools and resources in hand.
Success in investment sales requires a process-oriented approach along with a toolkit that helps you differentiate from competitors, increases exposure for your properties, and streamlines the process to maximize for speed and drive more results.
The following tools will help you do just that.
Your website serves as an interactive teaser to pique interest in your properties and get buyers interested in a potential deal. It allows you to differentiate yourself from other commercial property offerings, standing out from static PDF flyers that competitors might send. A company website is important, but so too is a property specific website that highlights the key selling points of a specific investment property
Good content conveys key information and investment highlights for prospective buyers. Your property website should offer a summary of the offering along with the investment highlights – what benefits should catch their eye immediately and how can you provide value to them based on these responses? At the same time, you can engage your users with interactive elements including a local amenities maps, photo gallery of both inside and outside the property, and video coverage of the space. Broker contact information should also be provided in several relevant points on your website.
Digital marketing allows you a much greater degree of visibility into the performance of your marketing efforts. Using tracking tools, you can measure progress in visits, traffic channel performance, executed CA agreements, total downloads from your site and more. Are people leaving too quickly? Are they spending a lot of time on a certain page that you can better highlight? This information is freely available and helps to improve your marketing efforts.
A commercial real estate optimized document portal offers 24/7 access to private real estate documents, making it easier to share all your sales and marketing materials with prospects during the sales process. It can reduce time spent sending emails, allow you to better track prospect activity when they engage with your documents, and improve insight into the deal process.
A document portal not only reduces the number of back and forth emails and speeds up the agreement process but also helps capture new potential leads interested in your property. This can serve as an effective means to build up your own proprietary database of prospects for future deals.
Your contact lists must be carefully structured to target people based on specific segmentations. That means separating out investors and potential tenants, segmenting by location, budget, and property, type, and managing each list of prospects – whether past investors, potential investors, or cold prospects who have been dormant for a long period of time. A good email marketing tool will allow you to easily tag and segment your lists to ensure you are only sending relevant information to the right people.
There are many best practices you need to follow when sending marketing emails to prospective investors. Not only do these ensure higher engagement rates; they can improve deliverability and overall engagement by those prospects with your content. Your emails should be responsive HTML, designed and tested for all browser types on all device sizes. Your emails should contain a single clear call to action that drives readers to click through and engage with your website. Your emails should have a strong headline that encourages users to open and immediately engage with the content inside.
Use your email marketing tools to measure the results you achieve from these campaigns. Specific metrics you should measure and work towards improving include your overall open rate, the click rate percentage, and the number of people who unsubscribe or mark your emails as spam.
As the number of leads and deals increases, so too does the need for organization. A CRM allows you to individually manage each contact record and associated deal, assigning lead owners, attaching emails and documents, and assigning future tasks. You can also accurately measure the volume of your current pipeline by assigning each lead to a different stage in the process, along with associated deal win percentage estimates and deal values.
CRM systems remove much of the risk of human error from the equation by consolidating all followup activity into one system. An administrator can assign followups for key prospects, or they can evaluate lead activity and ensure nothing is falling through the cracks. The followup process can be automated to a certain degree with sales sequences as well as automatically assigned tasks. This ensures all prospects receive the same sequence of followup emails and are nurtured accordingly.
Offering memorandums are a key tool in the commercial real estate sales process. Professional, high-quality offering memorandums, designed specifically to match both your company and individual property branding can make a huge difference in the progression of a sale. Inclusion of key property photos and location highlights, street maps, sale and lease comparables, floor plans, site maps, and demographics, all specific within the memorandum for each property is an important part of the marketing process for each property in your portfolio.
A shorter, easier to share document that highlights the key points of your offering memorandum in 2-4 pages, the consolidated flyer is a valuable tool that you should have available at meetings and online alike.
Preparation and delivery of your confidentiality agreement is an important part of the process. By integrating it into your marketing workflow, alongside a professionally designed offering memorandum, and within an easy to use document portal, you can ensure it is delivered when needed and in a format that fits your branding.
By implementing all the components listed above, you can improve the overall results you see from each of your marketing initiatives. With greater transparency into what works and what doesn’t, a stronger digital presentation of your properties to prospective investors, recurring followup via email and through CRM pipeline management, and user-friendly document portals, you’ll see greater results for each of your properties.
SharpLaunch is an all-in-one CRE marketing platform to help you streamline your marketing efforts and modernize your digital presence.
Marketing Best Practices
Whether you have a property search engine that isn’t delivering the features you need, you’re...