CRE firms could glean some valuable online marketing lessons from the Apple in-store playbook.

If you’ve ever walked into an Apple store you know the moment that you do, you’re in for a totally different retail experience.?The Apple in-store experience offers everything (and more) of what consumers want when looking for products. ??

Ironically, CRE firms could take a page out of Apple’s “brick-and-mortar” playbook and glean some valuable lessons in human psychology to market their listings and firm “online”. ?Following are some insights I found.

Apple embraced a direct sales & marketing approach

Prior to opening their own stores, Apple sold its products through Sears and CompUSA.?Buried among its competitor’s products and practically invisible, Apple’s share of the PC market plummeted.?To regain market share, Apple made the bold move toward vertical integration (creating a direct channel to consumers). ?

Along with a few other strategic moves, creating a dazzling in-store retail experience was the catalyst that catapulted Apple into one of the greatest stretches of consumer electronic sales ever. ?

CRE firms similarly have heavily relied on 3rd party partners (marketplace & listing sites) to promote their properties.?And, like Apple, their products (or listings) are often lost in a sea of competitor listings with little to no control of providing an excellent search or user experience that would differentiate their firm. ?However, unlike Apple, CRE doesn’t have reshape their consumer experience the way Apple had to reshape the retail consumer experience.?To the contrary, CRE consumer expectations have shifted (or evolved) and they now demand a more virtual experience with more content and greater context online.?

Consider the following:

98% expect more digital content & context

70% feel uncomfortable doing an in-person tour due to safety concerns

80% prefer to take a virtual tour before touring a space in person

100% expect to see to see a virtual tour and digital floor plan before committing to an in-person tour

48% of CRE firms cite social media as delivering the highest quality leads versus other lead sources

Using a multi-channel online marketing approach that incorporates non industry specific digital and social platforms, not only drives additional traffic and leads, but enables CRE firms the best opportunity to respond to the shifting expectation and demand. ?As a result, next generation firms are rethinking their strategy for engaging and attracting the attention of potential clients. ????

?Apple reduces any friction while taking ownership of their customer’s journey

Retail locations represented a huge gamble for Apple at the time they opened their first stores in 2001, particularly because they were on the verge of financial ruin only a couple of years before transitioning to brick-and-mortar. ?Apple was keenly aware they had given away exclusive attention and control of the consumer experience by relying solely on 3rd party partners.???

Additionally, consumers had been “accustomed” to interacting with Apple over the phone for sales and service requests.?So, the company did something unheard of at that time by creating an IRL (in-real-life) Apple experience that would dazzle its customers.?They focused on the customer experience and not the sale.?When you walk into an Apple store, there is nothing that is effortful, arduous, or awkward. ?And there isn’t a whiff of salesmanship. ?They encourage in-store customers to look around and explore what its products can do for them, rather than simply having product in stock available for browsing.?Employees are eager and quick to help, and always answer questions with directness and a refreshing transparency. ?The gamble apparently paid off, and Apple now operates over 500 stores in 25 countries and delivers a higher sales PSF than Tiffany & Co.

In this new social and digital landscape, CRE has an opportunity (unlike any time before) to offer an online UX (user experience) that delivers content, presents listings and drives brand in a way that creates value, builds intrigue and creates loyalty much like Apple does with its stores. ?

People looking to buy or lease commercial real estate want a similar experience online that Apple provides offline. ?They want to be able to look around “virtually” and explore listings without any salesmanship.?They want an easy, transparent, and painless search experience.?They want exhaustive and detailed information, pictures, videos and graphics that give them a contextual idea of the space, property, and area.?They want helpful material to navigate the complexities of CRE buying, leasing and selling.?And they want a broker who is responsive to their needs and information requests.??If CRE is going to align itself with the current consumer expectations, and create a dazzling UX, there needs to be a greater focus on the client decision journey.?From finding your listings, to learning about your firm, to obtaining property details their online search experience should be seamless, straightforward and comprehensive. ?So, that by the time they do pick up the phone to call the only question left is, “when are you available to show me the property or space?” ?

Apple established a sense of trust and authenticity

Psychological research shows that there is a strong link between perceived authenticity and persuasive appeal. ?The good news is, that unlike the Apple in the early 2000’s, CRE firms can establish brand value, to millions of potential clients virtually. With social media, online reviews and direct marketing, it has never been easier to establish a sense of trust and authenticity. ?

Rather than just posting their newest listing, a deal they just closed or some innocuous industry news article or inconsequential market report, ?brokers would serve themselves well by providing valuable content that establishes their authority in the market. ?

Apple executes this better than anyone creating and leveraging information not for marketing purposes, but to arouse curiosity, empower creativity and draw customers in.?Creating engaging and authentic content (in addition to posting listings) not only works better than traditional CRE marketing but allows brokers the ability to garner the consideration of prospects they’d like to work with, binds clients to their brand and helps them stay top-of-mind. ?

Apple will once again “Begin Again”

Flash forward to 2021 and Apple is at it again. ?It’s strategy of investing in brick-and-mortar flies in the faces of conventional wisdom during a time of booming eCommerce. ?While many retailers are figuring out what the future will look like post COVID, Apple is keeping what helped them through the pandemic, and is doubling down on its pre-pandemic strategy of providing in-store events and experiences beyond shopping.

With all the marketplace uncertainty CRE firms will need to adapt and innovate their marketing in ways not seen before.?In general, our industry is slow to adapt very quickly.?But next generation brokers who understand the changing CRE consumer expectations, have their pulse on recognizing the importance of engaging directly with CRE consumers and providing a unique search and user experience.?Brokers that meet transitioning demands in the CRE search environment, will give themselves a competitive advantage and differentiate themselves to stay top-of-mind in a crowded market.?