Today, I was thinking about a subject that I am passionate about for the company I work for in commercial real estate. I am marketing a new development to open in 2021.
So, when should you start marketing a new development? Before groundbreaking, right after, or wait until they have the ground cleared, and the first piece of construction materials show up to start the job. Right when you have begun the process. Why wait? From the architectural renderings underway, city approvals you’ve completed, etc., is the best time to start the marketing process.
With any new development, there can be hurdles. Not everything goes as planned; there could always be delays, etc. However, getting your progress in front of the people you know first, business colleagues and your social media channels is essential right from the get-go. They are your best audience. Word-of-Mouth!
Marketing is a must, and works simultaneity with Advertising and PR as everyone already knows, although it can be a little tricky–but you should be up for the task. It’s like any business. If you are thinking about opening a new store, there is a great deal of time beforehand that needs to go into the project first. Your first thought is a website and business name. You have to think about the licenses, taxes, insurance, purchasing, building the space out, maybe an employee or two and of course advertising. Sure, this will all have to take place in an orderly fashion to get the business off the ground. And, marketing starts the ball rolling.
There are a lot of small business folks that don’t give this area too much thought at first. Businesses buy ads and use their social media, but, there is a lot more to do in bringing buyers and sellers together with short and straightforward messages.
So, what makes Marketing so different from advertising? Advertising is essential and part of the visual component of your business. But, purchasing a big splashy ad in a magazine on a one or two-time deal is wasting your money. Buying a small ad for 12 months is your best bet with your advertising dollars. Marketing, on the other hand, is preparing your product and services to get out there to the marketplace. Compelling messages that describe your message, interaction with customers before, during, and after you open. All marketing choices should work towards the larger goal with “your message.” It’s the gateway to telling your story, getting the conversation started between the consumer and your company or development.
There are so many ways to get the word out, so what’s stopping you?