Similar questions were likely asked when high quality photos & graphics became standard elements of marketing brochures, email blasts and property websites… is the extra cost and time necessary to add these items to marketing efforts really worth it? Do these items really increase exposure for properties and increase sales & leasing activity?At Strategic we implemented video into the marketing of each our properties at the end of January 2010 and through the last seven months we have determined that it is a new marketing tool that must be used to effectively and fully market retail shopping center properties.
Our property videos have been viewed at the rate of about 1,000 views a month with limited advertising & promotion… Some opponents may argue that those 1,000 monthly video views are not equal to 1,000 property showings…but these views of the available suites have increased the exposure for the property and with more exposure comes more offers and deals… most transactions we have executed in 2010 have had video involved at some point in the deal process. Either the tenant prospect found the video and property through search engines or advertisements/ listings or Strategic brokers utilized video early on in the deal process to move a deal to an offer stage by qualifying a user for a space immediately.
The use of video in our marketing efforts has allowed prospective retailers to be more efficient with their decision making and shortened the typical length of the deal cycle. Our brokers are more effective and can expose their client’s properties to a much larger group of prospects and determine in short order if a prospect is a real viable tenant or not… the prospective tenant can make the same determination about a particular space in an equally efficient manner.
Is the time and financial investment of putting video to use in your commercial space marketing worth it? Only if you want to improve your results and make the deal making process more efficient for your clients, your brokers and the potential tenants…
Matt Milinovich | Partner
Strategic Retail Group
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