Social Media and Commercial Real Estate
The communication landscape has changed drastically in the last decade; advertising has changed from a “pushing” to a “pulling” of customer’s attention. However, the commercial real estate industry has been slow to catch-on to the social media shift, says Ruth Brajevich in a feature article from the Commercial Real Estate Development Association magazine; social media and commercial real estate will surely syndicate.
Former marketing practices would consist of “pushing” a formulated message upon consumers via television commercials, brochures, billboards, flyers and other various direct-response marketing methods. The audience was told exactly what they should interpret the ad, with very little flexibility in meaning. Social media has changed this dynamic due to its design as a “user oriented” communication channel. The audience now dictates the trending topics, which leaves companies at their mercy. To “pull” an audience, a company must now produce valuable content that is relevant, easily accessible, and top of mind interest to the reader.
Historically, the commercial real estate industry has relied on long-standing marketing methods such as in-person networking and email. However statistics indicate that most other industries have already embraced social media and commercial real estate will surely be forced to follow. The majority of Fortune 500 companies include links to their social media sites on their company website homepages.
There are four major platforms that will contribute to your brand awareness and client relationships, in the social media and commercial real estate realm.
LinkedIn has become the foremost authority in online corporate communications, since its establishment in 2003. Business strategies for LinkedIn are endless, as this social media platform possesses more than 238 million members across 200 countries. Journalist Ruth Brajevich, describes it as a “live Rolodex, brand builder, professional database, personalized marketing platform, and social networking channel.” It is clear that social media and commercial real estate compliment one another on this business-oriented platform. Through engagement in group conversation, and by providing relevant information to readers, you can be positioned as an expert in the real estate field.
Facebook is an open social networking community that possesses 1.15 billion users, of which 819 million have at one time accessed company product pages. An individual can use Facebook to market their commercial real estate company and increase customer communication, brand exposure and traffic to the company website.
Twitter is a micro-blogging site that currently possesses 200 million registered users. For individuals who cannot fathom how to use social media for commercial real estate, Twitter is the easiest place to start due to its simple design. This social media platform allows organizations to connect with individuals that are outside of their network and to further expand their brand’s awareness, 140 characters at a time.
YouTube is a video based search engine that attracts 1 billion visitors per month. Many commercial real estate organizations are under the impression that video marketing is an expensive and time-consuming process. In actuality YouTube and other video based websites thrive on amateur creativity, and realness. By simply posting a small video clip that depicts a corporate event, or commercial office space, you can easily promote your company at an exponential rate.
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