You never get a second chance to make a good first impression. This idiom holds true for every business encounter, particularly in commercial real estate marketing. Whether you are meeting the love of your life or storming the boardroom to pitch the next great real estate deal people tend to remember things that grab their attention. Take video for instance, which is super-effective in other realms of business at garnering attention. Doesn’t it make sense to give it a try with commercial real estate ventures, maybe even with an offering memorandum (OM)?
With a variety of commercial real estate marketing firms all vying for the same customers, it seems natural to gravitate towards marketing methods that keep you on par with the competition. However, techniques that successfully push the boundaries can make your business stand out from the crowd.
Stand out from the crowed with a video OM
The standards that most commercial real estate professionals follow in creating marketing materials is to use the predictable and trustworthy or “must haves” in communicating their message. For offering memorandums, this means using high-quality images, balancing layouts and incorporating indicative writing styles alongside clear financial designs. Video is a seldom used, but an innovative process that can change the way the OM is presented. Video offers an attention-grabbing media, ideal for building your business.
Video offering memorandums are deal closers
Video is a means of breaking through the communication clutter, and that makes all the difference in the world. Remember, you have just moments to make a lasting impression on your intended party. So, your offering memorandum should be developed properly to be a deal closer. A properly developed offering memorandum should state objectives, and point out specific risks, guiding the investor with pertinent information. Even if you execute this approach precisely, you’re likely creating an OM that looks like the one created by the “other guys.” Video moves your offering away from same old rhetoric that investors are accustomed to seeing. Their senses are awaked with the vibrancy video can offer.
Video is better than other mediums for engaging audiences and making them feel as though the production has been assembled specifically for their benefit. With video, you can incorporate nonverbal communication with verbal. Images and other cues help create appeal by layering marketing elements in a way that can’t be done with typical offering memorandums.
Bringing video into your marketing allows you to get to the point quickly, or slowly build up momentum based on how you want to entice the viewer. You can add a touch of drama or create urgency just by changing the pace of video. Reading is an individualistic activity, and each member of your target audience will digest content at their own pace. Video puts you in control, keeps the flow going, and allows the viewer experience to be consistent and focused.
Video can build social media interaction and stimulate search engine optimization (SEO). The stronger the discussion, the more interest builds in your project. It widens the market you’re targeting increasing your potential for closing new business.
With the consistency and control that video is capable of putting in your marketing toolkit, it begs the question, why aren’t more commercial real estate marketers using video to enhance their offering memorandums?