As the commercial real estate industry grows and becomes more technologically advanced, your marketing needs to keep pace. However, keeping up without impacting staff and budgets can be difficult. The truth is, without expanding the number of hours you or your team spend in the office or stealing hours from core business activities, keeping marketing on track is next to impossible. If you want to remain productive and focused on what you do best, hire a company that will focus on what they do best—marketing your commercial real estate business. Here are some steps you can take to outsource your marketing while keeping you focused on your business and showing a return on investment.
Finding the right team
The last thing you want to do is hire a team that lacks experience in your industry. While there are piles of companies that claim to have the expertise you need, you’ll want to vet any company thoroughly before making a decision. Some questions to ask your prospective marketing firm may include :
- Do you have experience in marketing commercial real estate companies?
- What do you know about the market in which my business operates
- Do you have experience creating content marketing strategies?
- What is your experience in managing social media campaigns?
- Do you have experience with emails and newsletters?
- Can you provide references?
- Do you have a flexible subscription-based model?
Don’t limit yourself to these questions. Tailor your inquiry to identify the commercial real estate marketing company that will meet your needs.
The goal is to identify a marketing team that will help you build your brand, establish thought leadership, generate leads and ultimately increase your profits. You’ll work with your marketing partner to set goals based on your needs. While needs vary from company to company, the bottom line is—goals should match the needs of your company. Your marketing team should create a strategy to meet those while you focus on your commercial real estate business.
Bearing-out cost effectiveness
Once you’ve found the right team and set your goals, how do you know what you are doing is cost-effective? If your company needs better brand recognition, you may measure success by the number of hits on your website or the number of shares on social media. If you're looking for profits, you may use the traditional formula for calculating return on investment of subtracting marketing costs by your increase in sales.
Cost-effectiveness is not always directly tied to your marketing goals, however. Remember, you also want to ensure that you and your team can remain focused on your core business. According to the “2018 Workplace Distraction Report” conducted by Udemy Research, nearly 3 out of 4 workers (70 percent) say they feel distracted at work. With the deluge of emails, meetings, and other disruptions, it’s more important than ever to do everything you can to keep employees focused on the business of your business.
Patience is Important Too
You also need to consider how much time you will give the marketing team before you start to see ROI. Content marketing expert Neil Patel says in some cases, it can take six to nine months before a company will see results. But the more effort you make whether it is in content marketing, newsletters or a combination of marketing tools, the faster you can see results.
Outsourcing is cost effective but it’s also a time saver. When you are not spending half of your day posting on social media or writing newsletters, you have more time to contact potential clients and property owners. And that means more opportunity for you.