Establishing Your Commercial Real Estate Marketing Goals
“A goal without a plan is just a wish.” That is one of my favorite quotes since it applies to every area of your life. While I’m sure that you have set some deliberate sales goals for your commercial real estate business, don’t forget about establishing your marketing goals. Marketing is the foundation that great sales are rooted in. Let’s discuss how to set your marketing goals and how our commercial real estate software can help:
Determine Your Goals
When is comes to marketing, the sky truly is the limit. There is so much that you can focus on, but I’m sure you want to focus your time and money on what will bring you the biggest return on your investment. Take a few minutes and write down your marketing goals, and once you have established your goals you can put a plan in place to turn those goals into a reality. Think in terms of short-term goals (a year or less) as well as long-term goals (approximately 5 years away).
For example; are you trying to reach a wider audience and get more clients? Maybe you’re trying to go after larger listings or expand your market area. Maybe you want to include monetary goals such as doubling your income over the next two years. These goals will vary based on if you work at a large national firm, a small boutique, or operate your own brokerage firm. Set goals that get you excited and ready to work to achieve them!
When determining your goals remember to use the “SMART” analogy to make them Specific, Measurable, Attainable, Realistic, and Timely.
Create Your Plan
Now that you have established the marketing goals for your commercial real estate business, it’s time to create your game plan. Create a realistic timeline for each of your goals and be specific on how you will measure the outcome. Are you trying to gain 18 new clients within the next 12 months? Is your goal to get 2 new property listings each month? Is your goal to double your income? Be as specific as possible so you can clearly know when you have accomplished your goals.
Now, how exactly do you plan on achieving these goals? Maybe you can:
- Attend at least two networking events per month and speak with at least 5 new people at each event
- Start a blog and commit to writing a post at least once per week to share your market knowledge and expertise (hint: blogging helps potential clients find you in online searches)
- Set aside time to make cold-calls for an hour once per week to stir up new business
- Actively post and engage on social media
- Send emails or letters to property owners to see if they’re interested in selling (or leasing) their space
These are just a few examples, and I’m sure you can come up with several more that are specific to your business. The point is to have the goals, and then make the plans. Remember to be flexible and make changes as needed based on what’s working best.
Establish Your Target Audience
Who is your target audience and how do you plan to reach them? Are you focusing solely on landlord rep, tenant rep, leasing, sales, or a mixture of all of these? Are you specializing in industrial properties or are you in a small market, so you handle all types of commercial properties? Be specific with who your ideal audience is, so your marketing plan is targeted directly to the right people.
Have you heard the statistic that someone needs to see or hear your brand name at least seven times before they take any action? So, don’t expect to send out one postcard and get a huge response right away. People need to hear your name often to become more familiar with your brand and put their trust in your services, so consistency is key. Here are a few marketing tools that you can use to reach your ideal audience:
- Social Media
- Email Marketing (newsletters)
- Brochures and Flyers
- Direct Mail (letters)
- Your Website and Blog
At ClientLook, our commercial real estate CRM integrates seamlessly with Buildout and MailChimp, making it easy for you to stay on top of your marketing efforts. See how our software can help you stick to your marketing plan and win more business by requesting a complimentary demo or signing up for our free 21-day trial to see it in action.