This presentation was developed for the CREW Hampton Roads chapter. It provides tips for using location-based social media platforms and other marketing tactics for the commercial real estate industry.
CREW Hampton Roads - Social Media Tools for Real Estate
Thriving In A Brave New World: Emerging Commercial Real Estate Marketing Tools
Hampton Roads Market Overview Office Retail Industrial Vacancy 13‐15% 5% 8.2% Peninsula: 14%Leasing Activity +26% No change N/A (2010:2011) Absorption Decrease Decrease Flat Overall Peninsula: Decrease Other News • Class A space strong • Consumer • Mixed news • Unemployment a confidence key • Some big leases drag • Decrease in February • Leasing activity doesn’t equate absorption
Hampton Roads Market Overview So what are the takeaways?• Continue to see mixed signals across sectors• 2012 won’t see major improvements• Recovering from ongoing absorption losses are important• Pending defense cuts will add pressure to the market• Competition in commercial real estate remains high• Differentiation is critical
What is location‐based social media?Any platform, website, or application that allows users to “check in” or share their location online and on mobile devices.
• Currently the most widely used location‐ based social media platform, Foursquare boasts more than 10 million users and recently announced a national partnership with American Express.
• With a robust user interface and features, Yelp has a standard website and a popular smartphone application for social networking, user reviews, and local search.
• Google Places leverages Google’s dominant search engine and popular maps function in its standard and mobile websites and smartphone app so users can search, share, and rate their location.
• Gowalla described itself as a “social travel guide” and is popular among travelers. It was recently acquired by Facebook.
• A feature currently on Facebook’s standard and mobile websites and smartphone application, Facebook allows users to share their location as part of status posts on the world’s most popular social network.
• Second only to Facebook in registered users, Twitter allows users to include location in tweets.
Social Media Marketing Engaging and Useful• Do not ignore Facebook, Twitter, and other sites!• Develop a social media plan.• Cultivate loyalty and attract potential clients.• Incorporate social media on website and marketing materials.
Mobile Marketing Mobile‐friendly and Location‐based• Use of mobile devices to access the internet and use applications continues to skyrocket.• Evaluate mobile marketing and identify areas to invest resources.• Mobile marketing can provide information in real time for potential clients touring properties.• Location‐based social media!
Digital Marketing Strategic and Interactive• People and businesses searching for real estate online is now the norm and often the first impression.• You must sell your property and your area.• Conduct research to understand your audience.• Website should be interactive and optimized for search engines.• Develop consistent messaging across website and all marketing materials. Remember: Content is king. • Be a resource.
Thank you! Andrew Ryan and Mark Hickmanfacebook.com/commonwealthpartnerships |@cpCommercial www.commonwealthpartnerships.com www.virginiareblog.com 804.354.0964