23 Apr Why increase your commercial real estate marketing? Ask Netflix!
Netflix may not be in the commercial real estate marketing business. Yet this firm knows about the power of marketing to grow a business.
Netflix has just announced that it is increasing its subscriber rate by $2 per month.
With approximately 150 million subscribers, that will mean that Netflix will increase its income by $300 million – per month!
Yes, that is $3.6 billion per year. For a $2 per month cost to each of its customers.
Might commercial real estate marketing also produce some powerful results for you?
What if you can utilize marketing to increase rent on all of your tenants by 20 cents per month?
If you have a million square feet, and you add 20 cents a month per square foot, you will have an additional $2.4 million at the end of each year.
As a commercial real estate marketing firm, we have often heard “We don’t need to do that.” “We want to fly under the radar.” Or “We make enough money without it.”
Those comments may be true for people who don’t like a lot of additional profit.
For those who wouldn’t mind an extra $2.4 million per year, or a much larger number, we recommend that you get to know what commercial real estate marketing can do for you.
Whether it’s SEO, social media, content creation, publicity, speaking engagements, a brand refresh, events, or all of these tools, the impact of commercial real estate marketing can be stunning.
Increasing the value of your brand will have the precise impact of making your properties more desirable to cities, to tenants, and to residents. Increasing the perception of your property will have the same effect for the long-term.
Would you rather stay in Four Seasons Hotel than a no-name luxury hotel? Would you pay $2 more a night for the comfort of knowing that you’re getting Four Seasons service? Might you pay $75 more per night?
With more than 100 properties, when the hotel industry was in trouble at 9-11, “Four Seasons refused to cut room prices in order to preserve the perceived value of the brand.” A few years later, when the hotel industry recovered, the owner sold 95 percent of the brand for $3.8 billion.
Commercial real estate marketing is worth every penny. Believe us. We’ve seen this movie before!
Posted on April 23, 2019