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