Delivering the right marketing campaign for each individual vendor is an important skill for any commercial property agent.
After all, no two are the same, so your final marketing recommendation should be coloured by a host of different factors, all of which you’ll need to tease out during the consultation process.
How do you arrive at your recommendation? Here are some key steps.
Question the client
As with many of Spencer’s strategies, an agent’s initial moves should be dictated by establishing the client’s previous experiences with marketing, and where their current position is.
That means asking some pointed questions.
“You ask questions like, ‘Have you inquired on a property before? When you actually leased this, how did you come across it? What do you know about marketing? Are you aware of all the various different marketing channels?’” Spencer says.
“Then what you want to do is listen to the answers because if they have a prone way of how they've been looking for marketing, then you can actually guide your marketing conversation in that direction.”
“The strategy always is: question, listen for the answers, reframe what you've heard, and then advise accordingly.”
Show them the trends
There are few things more powerful in an agent’s toolkit than a telling image or visual representation of key facts.
Spencer says there’s no better way to demonstrate where buyers or tenants are coming from in the current commercial property climate.
“What I'm really encouraging you to do … is to show on a map, or show in a visual, over the last 100, 200, 300 sales or 200 to 300 tenancies you've signed up in that marketplace, where the market is coming from,” he says.
“The ‘where are they’ and then the ‘who are they’ piece, I think forms a really, really nice transition. So, after the ‘who are they’, it's how do we find them? Where are they? They're in this location. Who are they? They're international businesses. How do we find them? We find them via digital, we find them via email, we find them via telemarketing. So once again, the where, the who, the how.”
Pick a package
Once you’ve retrieved the information you need from the property owner, it’s time to recommend a package for them.
Spencer says the simpler the better, show the options but with just one price on the recommendation, rather than an itemized list of every different marketing component that you’ll be providing, as that approach will see you caught up in endless questions and trackbacks about each item.
“Make sure that the marketing schedule is visual and has a mixture of online, has a mixture of all your other marketing strategies, it has a mixture of all your other proactive prospecting strategies like your database, all in that same schedule,” he says.
Spencer also recommends starting with a package at a particular price point and then selling up or down from that, based on what the client wants and needs and where you think their budget sits.
Outline the Products
Does your client know about what they stand to gain as a return on investment from the various different marketing products or listing levels? Ask them and find out.
In many cases, Spencer says, the property owner won’t know the differences – large and small – between marketing packages, so querying them about it is a logical next step.
Questioning them on their knowledge of what each product will do for them is a great way of helping the client to see the value in what they’re paying for.
The right agent with the right tools
Spencer says at the end of the day it’s about encouraging the client to help you give them the best chance of delivering a glowing sales or leasing result.
Explain to them that the best way for them to help you achieve that result is through the right marketing package with the right features.
“You put a good agent with the tools, with the right marketing package, they'll get an extra three to five offers or they'll get an extra two to three tenants vying for that lease or vying to buy that property,” Spencer says.