In the ever-evolving landscape of commercial property marketing, staying ahead of the curve is not just a competitive advantage; it’s a necessity. As AI tools continue to improve, property owners should anticipate a shift toward more advanced and innovative marketing strategies.
In this article, we will explore the current state of commercial property marketing, the evolving role of Artificial Intelligence (AI) in our industry, and the next steps you should take to stay ahead of the curve.
The Current State of Commercial Property Marketing
Commercial property marketing has come a long way, thanks to advancements in technology. From virtual tours and 3D models to high-quality photography, these technologies have enabled property owners to showcase their offerings in unique ways.
A typical marketing package usually includes:
- A standard property marketing flyer
- Property listing page on the leasing firm’s website
- Leasing sign on your property
- Listing on CoStar
- A virtual tour
While all the items listed above are the standard marketing materials that should be provided by your property leasing firm, their marketing team should also be available to provide ongoing support and be willing to help you execute new ideas and a number of additional marketing initiatives. Be aware that these additional initiatives will likely require you to come out of pocket with some marketing dollars to cover third-party agency costs, supplies, advertising budgets, etc.
Additional marketing initiatives might include:
- Drone photography/video
- Video production
- Direct mail
- Social campaigns
- Online advertising
- Custom website creation
However, consumer expectations are changing rapidly, and the industry must innovate to keep pace with what is needed and expected from brokers and prospective tenants alike.
AI in Commercial Real Estate Marketing
As we look ahead, AI is poised to play a pivotal role in enhancing marketing strategies. AI can be used to streamline content creation, optimize visual presentations, and revolutionize video marketing.
While many of these tools aren’t fully usable for our purposes right now, we foresee rapid improvements in the future. Having a base knowledge of the possibilities with AI will help keep you ahead of the curve when new technologies are improved and available to the public.
AI Tools to Enhance Property Marketing
AI can be used to create engaging and informative visuals for commercial property marketing, such as 3D tours, floor plans, and infographics. These visuals can help prospective buyers and tenants to better understand and appreciate the features and benefits of commercial properties.
AI can be used to generate high-quality content for commercial property marketing, such as blog posts, articles, social media posts, brochures, and email campaigns. This content can be tailored to the specific needs and interests of target audiences, which can help to increase engagement and conversions.
Can you tell if this article is written by AI or a real person? The answer is a little bit of both. In our experience, we have found that tools like ChatGPT have been incredibly useful in brainstorming, creating outlines, rewording copy, and writing short-form pieces. Even though this is a helpful tool, it is still imperative that human eyes review the information for errors and factual inaccuracies.
AI can be used to create and produce high-quality video marketing content for commercial properties. This content can be used to showcase properties in a more immersive and engaging way and can be shared across various channels, such as YouTube, social media, and websites.
One of the tools our team has been using is the Speech to Text tool in Adobe Premiere Pro (also available in Davinci Resolve). This software can transcribe videos, identify different speakers, and even align the text to the speech. Additionally, we use Enhance Speech from Adobe to clean up the audio in our videos that contain any voiceovers or talking in them.
AI can generate leads for commercial property marketing by analyzing data from various sources, such as website traffic, social media, and email lists. AI can also be used to qualify leads and identify those who are most likely to be interested in a particular property.
While we haven’t personally found any tools that are the right fit for us in this category, I believe this will be something that improves and is more widely available in the future. The closest we have seen to something like this is with HubSpot’s ChatSpot AI. While it does not directly help with lead generation, it can help you prospect and sort through leads that are directly in your HubSpot CRM.
AI can be used to automate many of the tasks involved in commercial property marketing, such as sending email campaigns, scheduling social media posts, and managing lead-generation campaigns. This can free up time for property owners and brokers to focus on other important tasks, such as building relationships with potential buyers and tenants. AI-powered chatbots are also being used to answer questions from potential buyers and tenants and to schedule property tours.
Our team hasn’t seen any tools that do this well yet. But, there are “AI Agents” that you can use to perform these types of tasks as well. I don’t know enough about them to speak to their abilities but you can read more about them on the Zapier website or other places online through research.
AI can simplify the process of building simple websites by offering user-friendly website builders equipped with AI-driven templates and content suggestions. These tools can automate the design and layout, generate basic content, and ensure responsive design for various devices. AI can also assist with SEO recommendations and offer code generation for straightforward websites, making it more accessible for users with limited technical expertise to create and maintain their web presence efficiently.
We have been on the hunt for AI that can do this and do it well. Unfortunately, the tools to use for this are mostly still being developed and are not publicly available. But, we see this being a major game-changer in the future. We may see a market that is oversaturated with property websites if they are quick, easy, and cheap to produce.
Utilizing AI Effectively in Commercial Property Marketing: Risks and Rewards
The overarching theme here is that AI can save you time and time efficiency is crucial in property marketing. AI can automate tasks such as sending email campaigns, scheduling social media posts, and managing lead generation campaigns, freeing up valuable time for property owners and brokers.
But, in order to use these tools, you must be committed to continuous learning and staying updated on AI trends. Utilizing AI tools and platforms can streamline marketing efforts, saving time and resources. Creating engaging content, optimizing visual presentations, and employing video marketing techniques are essential. But, precision and accuracy in technology usage cannot be overstated, as they can significantly impact marketing outcomes.
While the benefits of AI and technology in commercial property marketing are immense, there are potential challenges and risks to consider. Issues related to data privacy, security, and the learning curve associated with adopting new technologies can pose challenges. To mitigate these risks, property owners should invest in robust cybersecurity measures, provide training for staff, and work with experienced AI providers.
Because of this, it is essential to hire a leasing firm with a marketing team that stays up-to-date with the latest marketing trends and technologies.
Educating yourself about AI and technology is not just a recommendation; it’s a strategic imperative. Property owners who stay informed about the latest advancements and commit to utilizing technology effectively will gain a competitive edge in the market.
As we continue to evolve, the potential for AI-driven marketing to transform the commercial real estate industry is immense. It’s time to get started with technology for commercial property marketing and stay ahead in this dynamic field.
Looking to stay up-to-date on AI tools? Check out these resources: