“Marketing” is one of the hot buzzwords of the decade. Brokers do it, property owners expect it, and yet no one has uncovered the “magic marketing formula.” While I can’t profess to know the magic marketing formula (or maybe it’s a future article!), I do know what not to do. I know what a deadly marketing mistake is and how to fix it. So, the following are my tips for you.

1. Deadly Mistake # 1 – Not Marketing at All: Approximately 60 % of commercial real estate professionals do no marketing whatsoever. They rely solely on the sign out in front of the property secretly praying for the right prospects to drive by and call. And while this isn’t a bad strategy, it won’t lease up the property.

Fix-it Strategy: Implement an easy-to-follow marketing system that includes things known to be effective; mailings, personal calls, newspaper ads or whatever you as the professional feel will best serve the property. The point is do something!

2. Deadly Mistake # 2 – No System to Follow: Do you re-invent the wheel every time you get a new listing? Wasting time trying to figure out “what’s next” is foolish as well as time consuming.

Fix-it Strategy: Think of how much easier it would be if you knew exactly, and I mean EXACTLY what needs to happen each day, week, and month in order to get your listing in front of every possible prospect. In other words, what does your typical marketing program look like? For example, monthly emails the first Monday of each month promoting the property, quarterly mailings, weekly requests for referrals, daily phone calls to 5 people on the prospect list and so on. The point is to have a system that works, and to use it on a consistent basis.

3. Deadly Mistake # 3 – Poor Marketing Pieces/Message: How many times have you received a property flyer advertising space for lease or sale and you tossed it directly into the garbage without even looking at it? It probably looked just like every other piece you get and the benefits of the property were nowhere on it.

Fix-it Strategy: To start, make sure you have a professional, timely, and attractive piece. This only means the prospect will at least look at it once. In order for them to really pay attention – you must include the BENEFITS they will experience. For example, is the location better then the competition? Is it tops in technology (cyberspace and so on)? Is it priced below competition? List the benefits in an easy-to-digest style and it WILL get the attention of a prospect.

4. Deadly Mistake # 4 – Giving Up Too Soon: OK, here comes that famous 80/20 rule again. 80% of your prospects will finally pay attention to your marketing piece after seeing it for the 5th time. So if you have a marketing campaign designed specifically for a client who has signed a six month listing agreement and the plan is for a quarterly mailing – guess what? You have just wasted your time and effort.

Fix-it Strategy: Be certain that your marketing campaign (or system) matches the length of your listing agreement and has enough diversity in that you are hitting the prospect from several angles. So if a quarterly mailing is part of your typical “system”, the prospect has already seen your name enough times and is in the position to react. Be certain your marketing programs include enough strategies to get your “product” in front of the “buyer” at least 5 times during the listing period.

5. Deadly Mistake # 5 – Deciding in Advance a Prospect’s Interest: How many times have you deleted a prospective client from the “list” because you just knew they could not possibly be interested? A classic example is when a broker is marketing a new shopping center development and just because Office Max is across the street, they are not included in any marketing campaign because after all, they are already in the marketplace.

Fix-it Strategy: Never presume to know what’s going on with a potential prospect. You do not know if they would have any interest unless you personally speak to them. After all, who could have known that Office Max needed to move because their lease was up and the landlord needed the space back to expand Home Depot? Certainly not you, so include all possibilities when marketing.

6. Deadly Mistake # 6 – Poor Timing: Do you know the best time to call a prospect, the best day to send an email, a brochure or do you just attack without thinking?

Fix-it Strategy: Be mindful of the prospect’s schedule. Call between 9:00 a.m. and 10:00 a.m. or between 4:00 p.m. and 5:00 p.m. Never send an email on a Monday – too many from the weekend are sitting in the inbox, and never, never do a mailing in December (holidays) or August (vacations). Basically, just think about what you are doing before you do and pay close attention to the timing for maximum results.

7. Deadly Mistake # 7 – No Call To Action: This one’s easy and it’s why it’s last. Most brokers have no call to action in their marketing program. How is a prospect supposed to know what to do next unless you tell them?

Fix-it Strategy: Decide what you want the prospect to do first and then tell them. Should they drive by the property first, call you first, email you or set up a meeting? The instructions may be something like, “Please drive by the location and call me with any questions you may have. I will set up a time to meet you at the site in order to determine if the property can fill your needs.” You have given your prospect 3 instructions with these 2 sentences. Drive by, call, and meet. Now the prospect knows exactly what is expected. This may seem silly or elementary to you but you would be surprised at the difference it can make. So remember, don’t forget a specific call to action.

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