Reaching a Market in Flux.
The commercial real estate environment has been shaken up since 2020. We see increased inventory in some areas, and very competitive demand in others, like investment properties. In order to capitalize on the growth, and get ahead of the competition, the marketing and media experts at Brkthru recommend that commercial real estate brands deploy a full-funnel approach to their marketing mix.
There are opportunities that exist today for developers and investors to acquire properties that are vacant from urban flight or the shift to remote work. Property management and investment properties have been able to stay successful during the pandemic. Even though the market has varied depending on the commercial listing, the overall data shows that U.S. commercial real estate investment volume increased by 45% year-over-year in Q1 2022.
Since more than 90% of all real estate buyers (both commercial and residential) search online for listings, there are numerous opportunities to reach in-market commercial buyers. When working with a digital partner, it’s important to make sure they understand the opportunities to capitalize on keyword and contextual targeting to expose potential buyers to the brand. These upper- and mid-funnel tactics will bring new users to the website, reaching them while they research and consider their options.
As with most B2B industries, the vast majority of decision makers, champions, and influencers in the building/construction and engineering industries can be found on Facebook and Instagram one or more times per day. Relative to all U.S. internet users, this audience is also 2.5x more likely to spend time with LinkedIn on a daily basis. It is important, if budget allows, to incorporate a paid social media plan into the marketing mix, to capture audience attention where they spend significant amounts of time.
The long-term nature of real estate conversions requires not only patience from the advertiser, but also successful low funnel tactics such as paid search and retargeting efforts. The commercial real estate audience favors Google, with 85% having used this search tool within the last month. We advise our B2B real estate clients to heavy-up their budget with paid search, focusing on relevant keywords that are likely to drive conversions. While nearly all conversions come from paid search or retargeting, it is important to realize that a full-funnel approach will always bring the most success.
We realize one size doesn’t fit all when it comes to real estate marketing, and that is especially true with commercial real estate. Reach out to discuss a customized approach to fit your brand and business goals.