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How can you market your commercial property to tenants in a crowded market?

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If you own or manage a commercial property, you know how challenging it can be to attract and retain tenants in a competitive market. You need to showcase your property's features, benefits, and value proposition to potential renters, while also maintaining a positive relationship with your existing tenants. How can you market your commercial property to tenants in a crowded market? Here are some tips to help you stand out and increase your occupancy rate.

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Natasha Guerra

CEO at Runway East
Isaac Ogle

@VTRConnect
Yasir Ali

Digital Marketing Expert, Technical Assistant, | Operations Management | Data Entry and Inventory Management |…

1 Know your target market

Before you start marketing your property, you need to understand who your ideal tenants are, what they are looking for, and how they make their decisions. You can do some market research, analyze your competitors, and survey your current tenants to get insights into their preferences, needs, and pain points. This will help you tailor your marketing message, strategy, and channels to reach and appeal to your target audience.

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Yasir Ali

Digital Marketing Expert, Technical Assistant, | Operations Management | Data Entry and Inventory Management | Versatile Professional
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Understand Your Target Audience: Identify the specific businesses or industries that would benefit most from your commercial property. Tailor your marketing messages to address the unique needs and preferences of your target audience. Online Presence: Leverage online platforms and listing websites where potential tenants search for commercial properties. Optimize your property's online presence with accurate & up-to-date information. Use Social Media: Create social media profiles for your commercial property. Share visually appealing content, updates, & relevant info about the local business community. Highlight Location Benefits: Emphasize the advantages of your property's location, such as proximity to transportation, & major highways.

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Tom Ogrodzki

CEO @ REDD Platform | Unlocking CRE Information
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I agree, yet when it comes to marketing a commercial space for lease, such as an office, your audience is typically somewhat predefined. The real challenge lies in conducting an in-depth analysis of who you’re competing with for tenants. Therefore, it’s crucial not only to know your audience but also to have a deep understanding of the competitive ‘red ocean’ around you.

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2 Highlight your competitive edge

What makes your property unique, attractive, and valuable to your target market? You need to identify and emphasize your competitive edge, whether it is your location, amenities, design, price, or service. You can use photos, videos, testimonials, and case studies to showcase your property's features and benefits, and how they solve your tenants' problems or enhance their experience. You can also use social proof, such as ratings, reviews, and awards, to build trust and credibility.

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Natasha Guerra

CEO at Runway East
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For co-working spaces, making sure that you have made your USP clear is a must. What are you giving your customers beyond simply four walls, desks and chairs? For many small businesses taking office space, they want their life to be made as easy as possible - only paying a fixed amount each month rather than unexpected additional fees, for example. Ensuring that customers know why they should pick YOU over anyone else will help you improve their experience as you'll be able to deliver on the things that you've promised them directly through that USP.

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3 Use multiple channels

To reach and engage your target market, you need to use multiple channels and platforms to market your property. You can leverage online and offline methods, such as your website, social media, email, blogs, podcasts, webinars, flyers, brochures, signs, and events. You can also use referrals, word-of-mouth, and partnerships to expand your network and exposure. The key is to be consistent, relevant, and creative in your marketing efforts, and to measure and optimize your results.

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Isaac Ogle

@VTRConnect
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Two words… VTR Connect! List your space for lease and let the website do all the work for you. Assign team members and permissions in Recon, negotiate LOI with Dealmaker, and did I mention mint your real estate commissions! tokenize them! there is a market for your hard work, if… if you are making sustainable long term deals????

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4 Offer incentives and flexibility

One way to attract and retain tenants in a crowded market is to offer incentives and flexibility that suit their needs and goals. You can offer discounts, freebies, upgrades, or other perks to entice new tenants or reward loyal ones. You can also offer flexible lease terms, such as short-term, month-to-month, or co-working options, to accommodate different scenarios and preferences. You can also negotiate and customize your contracts to meet your tenants' expectations and requirements.

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5 Communicate and follow up

Marketing your property is not a one-time event, but an ongoing process that requires communication and follow-up. You need to keep in touch with your prospects and tenants, and provide them with relevant and timely information, feedback, and support. You can use email, phone, text, or chat to communicate and follow up with your leads and customers, and to answer their questions, address their concerns, or resolve their issues. You can also use newsletters, blogs, or social media to share updates, news, or tips related to your property or industry.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Jason DeLorenzo

Sustainable Energy & Real Estate Development Savant
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With the perilous predicament commercial real estate finds itself in at present, it’s more important now than ever, that adaptation is at the core of any strategy. The fear of change is inherent in society, but knowing when to accept that change is coming and adapt to it quickly and efficiently is what sets those who succeed and those who fail, apart from each other. Commercial real estate must become an experience for businesses and employees who are now adapted to working from the comfort of their own homes or traveling or outdoors. Reimagining commercial interior and exterior spaces, will become what sets those who success and those who fail in commercial real estate moving forward

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How can you market your commercial property to tenants in a crowded market?

1

2

3

4

5

6

1 Know your target market

2 Highlight your competitive edge

3 Use multiple channels

4 Offer incentives and flexibility

5 Communicate and follow up

6 Here’s what else to consider

Commercial Real Estate

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How can you market your commercial property to tenants in a crowded market?

1

2

3

4

5

6

1 Know your target market

2 Highlight your competitive edge

3 Use multiple channels

4 Offer incentives and flexibility

5 Communicate and follow up

6 Here’s what else to consider

Commercial Real Estate

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