Your customers are leaving :(

StoryBrand is an excellent resource. They recently discussed this quote. AND it matters to real estate professionals. What can you do to separate from the crowd?

Across all industries, somewhere between 20 and 70 percent of your new customers will decide to stop doing business with you before they reach the 100 day anniversary.
Joey Coleman

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Commercial Real Estate News for Wednesday May 8

In Wednesday’s commercial real estate news – we’ll give you a look at the state of commercial property companies that need to prepare for the EU’s data privacy overhaul, the U.S. banks that loosened commercial real estate lending, the 5 ways technology is shaping CRE property management, and so much more. Read More

Join the myNOI Broker Network!

The myNOI Broker Network?

 

To maximize your Net Operating Income in your investments or business and your client’s investment you need CONNECTIONS. Work networks are common. You may already been involved in other networks for business & knowledge exchange. So why join one more? Three reasons:

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Fix Your Email Templates in 2018

Time to Improve your Email Templates.

Most brokers send some type of regular email newsletter. 2018 is a great time to implement at least a few improvements.

If you don’t have one already, Mailchimp.com is a popular platform for managing email newsletters. Check it out. Thanks to Mailchimp we also have some real data-driven optimization suggestions.

Their primary findings. The most successful emails tend to:

  1. Use simple layouts.
  2. Keep the copy concise.
  3. Repeatedly test what is sent.

It’s easy to get distracted creating a complex email. It takes more time and your audience probably doesn’t value it. And keep in mind people read emails on dozens of different devices. So simple wins. Images also help emails, but only if images are in correct balance with quantity of words.

With any great process, testing is essential. Figure out which email format provides the best customer response.

But, wait, Why do you even have an email newsletter? …if you have read this entire email and don’t know your WHY, stop. We will talk about the WHY next week.

Happy Emailing!

Answering your WHY …

Before you can create an awesome email newsletter you need to choose your WHY. It is the same question we all must ask:

WHY am I a broker?
“He who has a why can endure any how.” – Frederick Nietzsche

Entrepreneur has several articles discussing the “why in business“. Here a few highlights.

  1. Its easy with the daily routine to lose the WHY
  2. Remember, the WHY is what got your started as a broker. What was the original reason?
  3. Money is often mentioned as a motivator, but earning money usually represents a means to something else: freedom, safety, security, family, helping others, etc. The something else is your WHY.
  4. Your WHY will keep you from quitting when things are difficult.
  5. Your WHY can change the world. Don’t let your WHY be too small.
“Not every passion is a potential business — and that’s OK” Renée Warren 

Now what? 
Take some time to think it through. Do some research. Ask your friends. Watch this or any video from Simon Sinek.

How to Use Facebook Ads for CRE Listings

Facebook’s user base consists of over 2 billion users, according to Zephoria. This means that there is a possible 2 billion users encountering your commercial real estate ads everyday. Now keep in mind that while there are over 2 billion users on Facebook, not all 2 billion of those will encounter your ads. You are more likely to gain a better attraction to your commercial listing ad if you optimize and target your ad for your audience; investors, buyers, and sellers.

And Facebook Ads allows you to do just that, refine and target your audience down to their city, age, and even their interests, to ensure that the right people at the right time are seeing your ads.

Creating the right Facebook Ad can be a bit overwhelming and confusing at times and we want to help insure that you’re creating the best ads for your audience to ensure you’re generating those commercial real estate leads.

Here are a few tips we’ve put together with some help from some experts over at Hubspot.

Pick the Right Ad Placement

Facebook offers 3 different ad placements, each is visually appealing but different and serves a different purpose. Chose the placement that will best showcase your listing to your audience, we would recommend the “Desktop News Feed Ad”. This ad is larger than their original “Right Column Ad,” which will allow you to better showcase your listing with rich and appealing visual content, like images and videos. “Desktop News Feed Ads” appear directly on your news feed and rather than appearing like a questionable ad on Facebook’s right column, it is more of a native form of advertisement, appearing right in your feed. Appearing right on their feed makes it difficult to ignore when your audience is already casually scrolling through their feed.

We would also recommend the “Mobile News Feed Ad” much like the “Desktop News Feed Ad,” this ad appears on your feed while on your mobile device. Investing in both will allow you to capture your audience when they’re both in the office on their desktop and while they’re on the go on their phones.

Be Visual

Being visual in your ads is imperative, according to Inc. “posts that include images produce 650 percent higher engagement than text-only posts” and the same can be applied to Facebook Ads. Being visual in your ads can come in the form of high res images of your commercial listings, inside and out or a video tour of your listing, again both inside and outside of your property.

Facebook Ads allows you to present your visual content by offering a number of different Ad Formats; from their Carousel Ad format to their Slide show Ad format, there is a different format for every goal.

Clear Call to Action

Include a clear call to action that entices your audience to act now. May be it’s a sense of urgency that gets them to click or a simple call to action such as, “Schedule a Tour” or “Let’s Chat”.  A clear and concise call to action will allow you to move those potential commercial leads further down the marketing funnel.

Consider a Boosted Post

If you have a previous post for a listing on your Facebook page that could use a little extra attention, we’d recommend boosting that post. It should be noted that boosting a post is different than creating an ad, when you boost a post you to take one of your previous postings and deliver it to an audience of users who may not have had the chance to see it before. Boosting a post allows you to target your audience, customize your budget, schedule the boost, and more.

3 Ways to get more GREAT CRE LEADS

Everyone can promise more great leads for your business. But don’t be fooled. Some options can have a negative impact over time. More than ever the “long tail” approach is the most effective way for your to grow your real estate business. Check out 3 options:
  1. Create Useful Content: Add at least 1 post per week to your website that is truly useful and follows a search long tail search phrase like “high cap rate investment properties in ____“. This page may not be visited hundreds of times, but when someone does search and find this page it will be exactly what they are looking for. Learn more about Long Tail
  2. 3rd Party Lead Gen: Subscribe to a service like RealLaunch Leads at https://leads.reallaunch.com/register and receive local leads via email. You get to review the lead before “claiming it”. RealLaunch does the work on finding qualified real leads for you. You don’t pay for these leads with RealLaunch until you close a deal.

  3. Social Media Interaction: Launch an Instagram account that you can enjoy and naturally engage with your audience. This isn’t a time to sell. Its a time to engage and communicate.

4 Reasons Why CRE Brokers Must Have a YouTube Presence

Your presence online is more important than ever, more and more CRE brokers are seeking out opportunities to establish their online presence. With that in mind many seem to stray far away from the world of video, particularly YouTube and it’s influence on online users. Before you decide to opt out on creating YouTube videos for your commercial real estate listings, check out our 4 reasons why CRE brokers must have a YouTube presence.

1. People engage with short 20-30 second videos way mor4 Reae than with written content.

Let’s face it, we don’t always have time to read up on the latest news and market information, that’s why YouTube videos are amazing for those of us running short on time. Believe it or not, the longer your videos are, the lower your retention rate is. According to Single Grain, on average videos that are 1 minute or less in length garner a retention rate of 80%, 2-3 minute videos retain a bit less at 60%, and videos that are 5-10 minutes in length, retain 50% of viewers.

Just image what the retention rate of your lengthy and wordy, but informative blog posts may be. Creating a YouTube video that is short, informative, and engaging allows you to retain more of your viewers.

2. Investors, buyers, and sellers all want to learn and be educated.

There are 3 types of learners; visual, auditory, and kinesthetic, and sometimes combination of all 3. Creating a presence on YouTube and creating content that is both visual and auditory allows a large amount of your audience the ability to digest your content in a way that whitepapers or wordy reports cannot. This allows you to give your audience a visual representation of the topic being discussed rather than just posting a long and wordy blog or article.

There are a number of different formats of  YouTube videos you can create, there are:

  • Interviews: Use this format to interview others within your field, bring in experts from different realms. Tackle a subject each video, ask and answer one question, something that is impactful but not lengthy in time (remember the longer the video, the lower the retention rate).
  • Tips & Tricks: Keep your viewers up-to-date with the latest tips and tools for commercial real estate. Display these tips and tools and demonstrate your use of them, be visual and verbal in your explanation.
  • Market Updates: Keep your viewers in the know, update them with the latest market news, not only does this keep your viewers informed, but it’ll keep you informed as well.
  • Client Reviews/Engagement: Get your clients involved, create short video reviews from your clients and their experience working with you.

3. YouTube videos help build your credibility.

Creating an impactful form of informative and engaging content establishes your credibility and knowledge as a commercial real estate broker. We all need something that separates us from the rest of the CRE Brokers. Prospective clients are much more likely to seek out your services and expertise if you appear to be an established, experienced, and knowledgeable in your industry. Simple videos that vary in topic and format will build your credibility and eventually establish it.

Demonstrate your knowledge, illustrate, create diagrams and models in your YouTube videos. Showing your viewers that you know what you’re talking about.

4. Youtube is the 2nd most used search engine in the world (2nd only to Google.com). 

According to Placester, “more than 50% of prospective home buyers use Youtube as their primary video research.” And the same applies to commercial investors, buyers, and sellers. This means that your audience is actively using YouTube and they want more than just a slideshow of images, they want a format of content that is much more rich, interactive, and engaging. This can come in the form of property video tours, both inside and outside of the property and even videos that consist of tips and tricks for others within the industry.

 

Need some help getting started? Complete the form below and we can help!

Social Media Doesn’t Work

Okay… we may have lied, social media works and you need to take advantage of it now! After a conversation with our very own, CCIM Troy Muljat about his real life experience using social media within his firm, we are more than convinced that social media isn’t just for the average social butterfly.

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How to find people on social media that are looking for retail space

How to find people on social media that are looking for retail space. From https://www.digsy.ai/

In this video, Andrew Bermudez, Co-Founder and CEO of Digsy AI explains how to best use social media to find people who are actively searching for commercial space. This video is geared toward Commercial Real Estate.

How RealLaunch.com can get you awesome CRE leads

Here is a great overview of what RealLaunch does and how they can get you real CRE leads.

16 Reasons your Awesome Email could get eliminated by spam filters

Thanks to Boomerang – one of our favorite Gmail plugins – we now also have a list of the most important things to avoid when creating an email. This includes one-to-one emails and email newsletters. Here is the quick summary and then explore their blog post for the details:

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Buyer’s Journey #2 – 5 Signs You’re Ready to Outsource Online CRE Lead Generation

Five Signs You’re Ready to Outsource Online CRE Lead Generation

If you’re a Commercial Real Estate (CRE) broker and you want to make your mark, you need to have the proper tools. Today, the most valuable tool in the set is the internet and if you want to succeed in business, you have to learn how to use it to your advantage.

Let’s take a moment to sketch a quick profile the modern investor. First and foremost, they’re  staunchly independent. Today, a large majority make use of specialized online search tools and other CRE online services to conduct their own research before hiring a broker; as a result, they’re often overly-prepared, hyper-cautious and quick to make decisions.

Did you know that 80 percent of individuals surveyed for a joint report released by Loopnet and Google said they use the internet to access information about CRE? More than half use specialized online search tools and more than three quarters use online CRE services.

Whether you’ve been in the biz for decades or you’re new to the game, it’s important to know how to utilize the internet to your advantage and when to outsource your online CRE needs to experts that specialize in digital lead generation and brand recognition. Successful firms often include a team of web designers, content writers, marketing professionals and technical experts that are capable generating a wealth of quality leads in an effective and timely manner.

If you’re unsure whether or not to pick up the phone and dial the nearest CRE online lead generation business for help, consider the five signs to watch for below — it may be just the time to give the experts a call:

Your methods are outdated.
If your primary outreach tactic is print advertising or word-of-mouth campaigning, you’re headed in the wrong direction. Investors are increasingly looking to their screens for specialized CRE content, whether that be a report on the latest market outlook or a news update on a tech company’s intention to develop property in your area. Positioning yourself as a well-informed source for CRE news and information lands you far ahead of your print or on-foot competitors.

No one knows who you are.
Are your website analytics in the doldrums? If so, you have a problem. These days, online brand recognition is paramount to success. Your online presence, particularly website indexing, surpasses competition if you’re providing inquisitive investors with new, informative and compelling content on a regular basis. You must continuously engage with investors in order to develop a brand.

You muster a sparse number of leads per month.
Ask yourself, what kind of traction am I getting online? Are the actions I’m taking from a digital perspective valuable to me and my business? The time you invest to bolster your public presence online should offer returns in the form of website clicks, social media shares and, ultimately, leads. If you’re raking in just a handful of leads per year, you should feel compelled to change your approach.

You’re not generating high quality leads.
Of course you understand that not every lead is the same. As a broker, you seek quality and you want legitimate leads that answer the phone, are qualified and are looking to buy or sell CRE. If the last five leads you encountered resulted in a headache and waste of time, you’re not looking in the right places.

You’re not making good deals
First and foremost, your goal is to make a deal. If you’re online tactics aren’t working, it’s time to invest in what works.

Next week, tune in to read about the top features and benefits of CRE lead generation companies.

Buyer’s Journey #1 – Here’s what you should know about CRE’s rapid shift to online marketing

Here’s what you should know about CRE’s rapid shift to online marketing

Relying on the internet to generate new business may seem futile to industry vets, but for investors climbing up the ranks today, it’s vital to their survival. Now more than ever, lead generation between Commercial Real Estate (CRE) brokers and investors is happening online.

Just look at the numbers. In a joint report released by Loopnet and Google, a whopping 80 percent of surveyed investors utilize the internet for their CRE information needs. More than half make use of specialized online search tools and over three quarters use online CRE services. To boot, online searches for CRE have increased by 60 percent since 2008.

One thing is true: the buyer’s journey has changed tremendously. Investors are partnering with brokers late in the transaction process with the knowledge and capacity to make independent and quick decisions — just like you’d step into a phone store with a preferred brand in mind, investors don’t have the time or interest in discussing anything aside from what they want.

Unlike a decade ago, these avid real estate researchers are turning away from print advertising, on-the-ground research and personal connections and are instead vying after finds online. A mere 23 percent utilize a broker as their first source of information, while an estimated 59 percent rely on the internet, according to the joint report.

Investors’ use of the internet goes far beyond a quick Google search. Instead, they’re doing their own analysis and are looking for specialized content to gain an edge. According to analytics from KeywordSpy, the phrase “Internal Rate of Return Calculator” was up to 24,000 hits per month in the U.S. And that’s not it, searches for “Cap Rate Calculator” and “NOI Calculator,” for example, are also on the rise. It’s a clear indicator that investors are specializing on their own.

With this in mind, investors are being extra cautious about who they hire on as their broker. According to the joint report released by Loopnet and Google, an estimated 84 percent of investors fact check the work of brokers to make sure they’re correct.

But what does this all mean? In essence, these stats show that investors are researching comprehensively and are making final comparisons online before they hire a broker. In the end, it’s your duty to develop content that attracts an audience, develops trustworthy alliances and compels investors to act.

Next week, tune in to learn how easy it is to outsource CRE lead generation.