Did you know that 2019 was the first year that social media ad spend exceeded print to become the 3rd highest channel for how marketers spent their advertising dollars? Although the benefits of digital marketing have been known for years, companies continue to migrate more of their marketing dollars online in an effort to capture the business of the 4 billion+ active internet users.
Working in the commercial real estate space in both construction and marketing, we have seen surprisingly few numbers of companies utilize digital marketing and brand building to its full potential – leaving thousands or sometimes even millions of dollars on the table. With digital ad spend forecasted to grow over the next 5 years, now is the time to make your digital mark. Check out these three marketing strategies, which you can implement today, and consider the ways they may help you grow your commercial development:
Meet Your Audience Where They Are
There is a general one size fits all misconception that when a marketing company and/or team has success with one client, they can simply replicate those same results for any industry and/or business.
The truth is, the success of your online marketing campaigns is heavily dependent on:
- How well you know your audience.
- How effective you are in reaching that audience.
- Your ability to capture their attention with the limited time and space you have available with your online real estate.
As you know through the vast planning you’ve done for your Commercial Real Estate project, identifying your audience heavily relies on understanding the type of person that will buy into your finished project. Are you building an apartment complex primarily consisting of one and two-bedroom apartments, a retail space for businesses with over 100 employees, or a senior living residence? Looking at similar projects and the demographics of their occupants will give you a general idea of what to expect in terms of your own target audience.
Once you have nailed down your target audience, it’s important to understand that every demographic frequents different platforms, and if you aren’t marketing to the right channels, you will be wasting time, effort, and funding. This, is why we recommend balancing your strategy with statistics. For example, if you are targeting business owners, it would be important to know that while Facebook has an estimated 65 million small businesses using its platform, LinkedIn, which is specifically geared towards businesses, has 90 million senior-level influencers as registered users. Which, is why a whopping 95% of content marketers use LinkedIn for organic content marketing.
On the flip side, if your Commercial Real Estate project is targeting customers directly, it’d be in your best interest to know that 90% of Instagram users follow a business. Meaning, they choose to see your content, updates, announcements, etcetera on a daily basis — making Instagram a great platform for establishing your brand while connecting with users directly. So, based on your project, what platform would you choose? Once you understand your target audience and the platforms they use, you are one step closer to converting them into loyal customers.
Connecting Users with Your Commercial Development Via Video
When creating marketing campaigns for your commercial development, you need to create an experience for your audience that makes them feel a part of your project. To do so, there are few methods more effective than video. By inviting users into your project’s progress, you’re allowing them the opportunity to share in the joy of reaching major milestones.
Additionally, video opens the door to generating more traffic through the channels you are already utilizing and those that you may not have access to with image or text-based strategies alone. With platforms like Facebook giving priority to video-based content due to increased engagement, ignoring video gives your competitor the upper-hand.
Facebook has reported that users spend 3x the amount of time watching live videos, compared to prerecorded videos, with two-thirds of views coming after the live video has concluded.
Plus, creating video has never been easier! With high-quality cameras being carried in our pockets everyday, you and your team have the opportunity to invite consumers into your project with the click of a button. As Instagram strives to compete with sites like YouTube, this platform has made it easier to reach your audience through features like one-minute previews, IGTV, stories, post to feed and more; all increasing visibility, accessibility and ease of use! And, if you really want to talk video, we can dive into YouTube, which has over 2 billion active users per month.
So, our question to you: Where is your audience and how do you best communicate with them? Usually, at least one part of that answer includes video. By utilizing long-form video, you can create a deeper connection with your audience while establishing your brand and a new level of trust. Which, may make your target audience more comfortable when it comes time to buy.
Establish Your Brand
Marketing for commercial developments are unique from other active businesses due to the impact Commercial Real Estate has on the community. Whether it’s developing Senior Housing or Retail Spaces for businesses, you are developing a project that will be viewed and used by many members of the community. Which, is why building trust in your brand is essential to any Commercial Development.
Think of your brand as your voice. How do you want your tone, message and dialogue to be conducted with consumers, neighbors and community leaders? Clarity on this will allow you to positively convey your goals to the community in a way that becomes an integral part of your commercial development, giving members of your community confidence in the benefits your project will bring.
All of that said, there is no better way to connect with your community than through face-to-face interactions. If you’re looking to better understand the perception your community has on your brand or are looking to further establish it within the space of your real estate development, consider stepping into the community through volunteer efforts. This will not only allow you to connect with potential consumers, but gives your audience something to connect with on a personal level. Which, isn’t a step most businesses can afford to skip as 89% of consumers stay loyal to brands that share their values.
So, what is your brand and what does it stand for? If you don’t have this established, take a few hours to make that clear. Then, convey that to your audience using the methods shared above!
In this modern internet age, having a strong online presence can be the difference between success and failure. With many commercial developments under utilizing online marketing, due to a lack of understanding of how it works and the advantages it can present, there is an untapped market to be explored.
To make the most out your marketing efforts and budget, try implementing these three steps:
- Identify your target audience and understand where they frequent in the online space.
- Utilize video to build a deeper connection, opening the door for user dialogue which fosters a strong online community.
- Establish your brand and use it as a launching point into your community, creating connections with customers who share in your brand’s values.
By successfully leveraging these concepts while marketing for your commercial development, you will have an excited audience who is ready to buy before you even cut the ribbon on your finished project.
Need additional help on how to best use online marketing for your commercial developments?
Contact our marketing team today!