I’m closely acquainted with a commercial real estate executive who’s well known in the industry. He’s a success. He’s been in the business for more than 30 years and generates millions in revenue every year.
Yet, he does little marketing and maintains only a minimal, placeholder-style web presence.
He said that banks were increasingly asking him for the link to his website. Investors were questioning him about his lack of hits from a Google search, and his team was advocating for a social media budget.
“If my business is thriving,” he asked, “why do I need to invest in marketing?”
Marketing generates trust and boosts brand credibility
Whether it’s a feature in a third-party CRE publication or a social post on a feed, marketing builds brand awareness, credibility and, most importantly, trust. Without trust, you can leave potential deals on the table. Winning the trust of the industry lays the foundation for building a reputation for your brand.
Marketing creates trust by showcasing your competitive differentiators, innovative solutions, new offerings, and successful deals.
Marketing elevates your team members into industry leaders
Investing in marketing allows the voices of your team to be heard. A feature in @TradedNY on Instagram, or a quote about the market in an article in NYREJ, positions the members of your teams as active dealmakers and thought leaders. It also builds staff loyalty and employee retention. Remember that showcasing generates new business.
Marketing is an investment in the future
If you wait to commence a marketing program because business has slowed down, you could find yourself in a difficult situation. The process takes time. Don’t wait for the river to dry up before opening the dam. Keep the water flowing so your pipeline stays full and your business will continue to flourish and grow. Your marketing investments aren’t for today. They’re for tomorrow and beyond.
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The good news is that you don’t have to spend huge sums of money to connect and engage with your client base. In today’s social media environment, there are many economical ways to start building an effective marketing platform.
Don’t sell yourself short. Make marketing part of your business strategy.