Managing commercial properties poses some unique challenges. Unlike their residential counterparts, commercial properties tend to have longer leases but at the same time they can have longer vacancies. Since commercial properties often have more square footage, higher taxes, and a more sizeable mortgage, the costs to carry a vacant commercial property are generally higher.
It can be more difficult to find a suitable tenant for a commercial space but the return can be greater than for a residential property. Taking the time to properly market your commercial property listing is a great way to improve the return on your investment.
Write A Compelling Listing
Your listing should provide all of the concrete facts about your commercial property such as square footage, number of washrooms, and basic facility details but that’s not enough. Beyond hard facts, write a listing that helps tenants visualize their business in the space. Take a good look at your property and consider what type of business could thrive there. Write your listing for them and make sure to point out every feature that your ideal tenant might appreciate.
Take A Lot Of Good Photos
Adding photos of your property to your listing is one of the best ways to get results. Online content with good images gets 94% more views than comparable content with words alone. Not only do photos give prospective tenants a better idea of what the property is like, it gives them the ability to envision their business in that space. That creates an emotional connection with your property and increases the odds of a viewing.
Make Use Of Videos
Adding a video to your listing gives viewers more information about your property but it also opens new marketing opportunities and platforms. You can post videos where photos and words can’t go. Make sure your video is professional and polished for a positive effect. Don’t wing it. Do a thorough walkthrough of the property making note of all the amenities you want to showcase. Make a plan and write a script with your target audience in mind.
Utilize Property Listing Sites
Property listing sites are most often associated with residential properties but they can be effective for commercial listings too. This powerful tool is a great option for targeting tenants directly and catching the eye of brokers and real estate agents. You can generally refine your listing to an area or business sector.
Business Journals and Trade Publications
Business owners and decision makers are more likely to read business journals. Advertising on this platform allows you to target a particular industry in the area. Trade publications are broadly read and are a good option for targeting a certain sector. Do your research and find out which business journals and trade publications are most read by your intended audience.
Make Your Website SEO Friendly
Your website is a way to build credibility, trust, and relationships. It’s a platform to introduce yourself and showcase what you do while establishing yourself as a subject matter expert. It’s also a great place to list vacancies and the best way to get more eyes on your website is to adhere to SEO standards. The process of search engine optimization improves the visibility of your website on search engines and drives more organic traffic.
Use Effective Email Marketing
Your marketing strategy should include growing an email mailing list. Build a relationship with your contacts by sending regular emails full of high value content. Segment your mailing list and send relevant emails that the recipient will be much more likely to open. Use automation to schedule and send emails on a regular basis. When your commercial property becomes vacant, you will already have an audience with which you can share your listing.
Create a Google Business Page
These days most people search the internet whenever they need something and the same holds true in real estate. Having a Google My Business page will allow people to search for you based on keywords and location. When people search for you Google boosts your ranking making your business more visible in searches. Additionally this is also a great place to collect and display testimonials which will ultimately build your credibility as a landlord and make more prospective tenants notice you.
Positive reviews and testimonials are a great way to demonstrate what you can do for a potential tenant. Showcase your testimonials in multiple places such as your website, emails, and across social media platforms. Review the testimonials on your Google My Business page on a regular basis and showcase the best ones. You can also gather testimonials by reaching out to current and past tenants and ask them to leave a review.
Launch Targeted Ad Campaigns With Google
Google prioritizes ads by displaying them above search results. Grow your organic traffic and compete with the big players by launching a targeted ad campaign on Google. You can focus your marketing dollars on people who are searching the web for a property just like yours. Get your listing in front of the exact people who are looking for it.
Run Marketing And Remarketing Campaigns On Social Media
Many social media platforms allow you to launch ad campaigns targeting local individuals who have an interest in commercial properties. Furthermore you can get even more out of your marketing budget by running a remarketing campaign targeting people who have shown an interest in your business or your property. Convert more prospects into leads by focusing on the people who already want to sign your lease.
Put Up Signs
In an online world putting up signs can seem old fashioned but it’s a cost effective method of attracting prospective tenants in the area. Use your commercial property as a billboard and display visually appealing signage with a short, efficient, and effective description of the space. Don’t forget to include a way to contact you or a method to submit an application. Tap into this marketing strategy and take advantage of local opportunities.
Develop a more professional presentation with the right software. Property Matrix can help you streamline your business, create beautiful property listings, build a professional network, and market your listings.