Magazine article Journal of Property Management

Stay on Message

Magazine article Journal of Property Management

Stay on Message

Article excerpt

Focus marketing efforts by knowing your target audience

ONE KEY ASPECT OF YOUR JOB AS A REAL ESTATE MANAGER IS TO ATTRACT TENANTS TO YOUR COMMERCIAL BUILDING, RETAIL CENTER OR APARTMENT SITE. TO DO THAT, YOU MUST FOCUS YOUR MESSAGE FOR YOUR TARGET MARKET. But first, make sure you already have a clear understanding of where your property sits in its marketplace relative to the competition, and who your customers (and prospective tenants) are. Here are a few tips I've learned along the way:

Brand your building: Your brand says it all, and so does repetition of your message. Branding is the key ingrethent to positioning your property in the consumer's mind. Do you have a new trophy building in the central building district (CBD), or is your property an older building on the edge of town? Decide what unique aspects of your property will appeal to your target market, and then reinforce it throughout your marketing effort.

Hire a professional: Find a professional who can help you step outside your own perspective and provide you with advice on maintaining the branding message you have created. Paying for this advice will surely be worth it.

Create the experience: Ever been to Disneyland or a Four Seasons Hotel? Before you even set foot on their properties, these organizations ensure you know what your experience will be and they work hard to carry it out. Know what experience you need to create to attract the best tenants or residents to your properties.

Consider offbeat advertising: Instead of putting your entire advertising budget in one place, be creative - try a new avenue like Craigslist. …

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