Three Ways to Invest in Quality Marketing that Attracts New Tenants
An earlier version of this article appeared on Forbes.
The hope is that your commercial development has a great collection of loyal tenants, who in turn have a robust customer base with dynamic foot traffic. Sounds nice, right? Even if that’s the case, it’s essential to stay in tune with market trends that will enhance the property value.
When you need to reposition your commercial real estate to attract new audiences, we recommend implementing these three tactics.
1) Connect with Exceptional Influencers
While influencer marketing has become a proven method for driving eyeballs and engagement, you should team up with influencers who can be active co-creators in your marketing efforts. Truly inventive influencers can tailor strategies that speak directly to the niche intersection of their followers and your target audience, while also achieving the messaging goals you are hoping for. The goal isn’t to use the most popular influencers to create content that benefits them, but to utilize partners who are most likely to both lease space and/or drive traffic to your tenants in the commercial development and who will show off the parts of your space that you need to fill.
When Midway’s GreenStreet wanted to attract a new group of shoppers and diners to its development, better position GreenStreet to a diverse group of new tenants and help with general brand awareness, Integrate Agency connected them with Ashley Rose of Sugar & Cloth who was looking for a new spot for their next Color Wall. This match-made-in-heaven partnership resulted in over 4,000 hashtag uses, over 25,000 likes on the location, five live-streamed influencer events and a 1,173% increase in engagement on Instagram on specific location check-ins in the 6-month timeframe. The location drove hundreds of people each day to Houston’s most popular “selfie destination” such that GreenStreet had to install a changing room on site to prevent people from changing clothes in the street and in their cars.
2) Create Engaging Events
While your current tenants and loyal shoppers (hopefully!) know how great you are, it’s essential you constantly introduce your commercial development to new groups of people on a regular basis. Hosting original and innovative events is a great way to keep new faces coming in, regularly.
When Caldwell Company’s Boardwalk at Towne Lake in Cypress, TX wanted to increase awareness of their amazing amenities, Integrate teamed up with Yelp to develop an invitation-only shindig for the Greater Houston Elites. Billed as the “Passport to Boardwalk at Towne Lake,” the 35 influential Houston foodies had their personalized “passports” stamped at six different restaurants, while enjoying light bites, drinks, meet-and-greet opportunities with owners, and the chance to win an immersive spa experience. The overall goal was to introduce a targeted list of elite influencers to the development, which could result in future events with additional networking and influencer groups.
3) Leverage Social Media with Strategic Intent
Even if your commercial property regularly posts on social media, you can always find ways to improve your activity. To achieve authentic engagement with your audience and the community around your commercial development, you should use your social media channels to connect about things that matter. Getting the input of your neighbors is essential toward strengthening those local relationships and displaying your commitment to the area.
When McCord Development’s Generation Park wanted to connect with its neighbors in a meaningful fashion, Integrate created a Facebook survey that asked residents of Lake Houston what they hoped to see in the property. The survey garnered over 2,500 entries and the post received 151 shares, 101 comments, and 206 likes. The Facebook dialogue was so popular that it garnered five different pieces of traditional media coverage, including the Houston Chronicle and City Book, and Generation Park’s fanbase grew by 526%.
Repositioning your commercial development could mean reshaping the identity of your property, introducing it to previously untapped audiences, or even replacing tenants with ones who better reflect your new identity. A commitment to an innovative and strategic marketing program during a repositioning can help you to maximize your efforts and showcase what it is that makes your development the place to be.