Regardless of the size of your commercial property, you shouldn’t rely solely on a street corner “For Rent” sign as your best marketing strategy. Such signs count on the physical presence of people to deliver messages. But with the right commercial real estate marketing strategy, you can reach thousands of people across Phoenix, Arizona.
Here are five effective commercial real estate marketing strategies you can use easily, and they won’t put a hole in your pocket:
1. Use social media
Social media is one of the easiest methods of reaching and connecting with thousands of people. Regardless of where your commercial property is located, you can easily take advantage of social media for marketing your property.
Start by creating an account on social networks that focus on visual content like Instagram, Pinterest, and Facebook. Once your account is up, share photos of your property and the neighborhood. Share several posts per week consistently to sustain an active online presence, as well as sharing valuable blog posts and news content related to the real estate market and posting advertisements of your commercial property.
2. Target a precise audience
Don’t post random advertisements about your commercial property on social media. Rather, target a precise audience (the type of people you want as tenants). Start with basic research of the neighborhood where your commercial property is located.
What’s so special about the neighborhood? Why are people moving in and moving out? What do residents value about the neighborhood? All these will give you a clear picture of the type of people who love the neighborhood and why they do. Once you have a precise picture of who your audience are, attracting them becomes easier.
3. Build relationship with the community
If you have several commercial properties in the same neighborhood, consider building a relationship with the local community in a deeper way. You should consider sponsoring an activity at the local school, hand out information at community events, or have a booth at a community festival.
By showcasing your commercial real estate brand to the public, you’ll become a trusted source of commercial properties that locals will look out for whenever they need a rental property. Also, locals will gladly recommend you to their friends and loved ones looking to move into the neighborhood.
4. Ask for recommendations
If you have a website and a social media account like a Facebook Page for your commercial property, ask your current and previous tenants to write reviews and recommendations. Even consider giving them incentives for sending potential tenants your way. The better you can inspire them to give a positive buzz online and offline, the easier your commercial real estate marketing will be.
5. Market the community to potential renters
While renters are always interested in different property features, they all value a good community. A good neighborhood means different things to several families and businesses. For a young family, a good neighborhood should have great schools, lovely daycares, inexpensive spots for family activities, and a low crime rate. For a business, a good neighborhood should have access to freeways, potential clients, and offer potential to grow.
For older citizens, community could mean accessible walking trails for dog walking, recreation centers, libraries and good hospitals. When you start marketing your commercial real estate, don’t limit your efforts to your rental property. Rather, market the whole community to make your property more appealing to tenants.