Marketing Strategy Example for New Development

343 70th St front elevationHere is an example of a Marketing Strategy we might use for a new commercial development.  Each project is unique and therefore our strategy can change significantly depending on the form and timing of the assignment contract.

INITIAL MARKETING – Completed within 30 days of execution of Listing Agreement

Information and pre-due diligence review completed – including discussion with architect and review of specifications

Design and install site signage (paid by ICR, approved by client)

Establish project name for use in marketing materials (approved by client)

Establish estimate for occupancy costs, gross-ups factors and property taxes (approved by client)

Complete Teaser and Marketing brochures (approved by client)

 

ACTIVE MARKETING PART I – Completed within 75 days of execution of Initial Marketing

Prepare formal site specific sale/lease development agreement (approved by client)

Launch project website

Release listing details to both ICR homepage and Loopnet website marketing

Distribute marketing brochure to Potential Purchaser/Tenants and agents within the province

Contact Potential Purchaser/Tenants and keep Developer apprised of activity throughout the process

Create urgency and solicit offers from Potential Purchaser/Tenants

 

ACTIVE MARKETING PART II – Ongoing

Review offers as received

Develop prospect list for cold calls and initiate cold call campaign

Promote property in NSBA circulated e-blast

Feature property in Stuart Commercial newsletter

Include property in Western Investor advertising

Promote development with social media, re: Twitter, LinkedIn, Google+, Facebook, etc.

Create highlight ad of property for Star Phoenix

Liaise with lawyers, due diligence consultants and principals

Continue interest with other applicants

Change site signage and brochure to illustrate transactions complete and create urgency

Work to ensure condition removal is received in a timely manner without incident

 

CLOSING PERIOD – Ongoing

Maintain information flow with all involved parties

Assist with possible issues to ensure a smooth closing process

 

Posted by Barry Stuart

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One Comment

  1. Whilst there are similarities between the first two strategies, market development involves a greater degree of uncertainty, risk, and financial commitment.

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