by Carrie Bobb
The retail game is a much different game than it was not that long ago. Landlords must learn the rules of social media and how to play the game. Retailers are consumers too. And they are looking for the same experiences they provide their customers.
B2B SOCIAL MEDIA MARKETING
Market leaders in the business to business space who are using mobile marketing to engage their audience are seeing it drive or influence an average of 40% of their revenue.[1]
Most retail landlords are not engaging with their audiences the way retailers engage with theirs. Many of the largest retail landlords in the US are either silent on social media or have not engaged in years.
The same strategy retailers are using to grow their businesses works for commercial real estate too. Social media is simply another avenue for landlords to consistently stay in front of brands, potential tenants and engage with the community.
It is more likely than not the first place a prospective tenant, especially digitally native brands, will go to research a landlord.[2]
The risk of slow moving or slow adapting landlords is they are being eliminated from consideration by retailers before they are even aware a brand is contemplating a lease.
HOW TO BUILD A SOCIAL MEDIA BRAND AS A RETAIL LANDLORD
- There is a difference between a property handle and a company handle. It is not enough for a company to just have a property account. It doesn’t answer the questions: Who are you? Why do you do what you do? Those two questions are extremely important. Property accounts serve a completely different purpose and while the target audiences likely crossover, they are still different.
- Leverage different platforms differently. Instagram, LinkedIn, Facebook and Pinterest are different tools that target different audiences. And it is not ok to use the same posts across all platforms. (That is a dead give away to younger generations you are closer in age to their parents.) You can use the same content, but use different visuals and different text.
- Authentic content. Authentic content applies to what is happening in culture, not just real estate. Celebrities and public figures are using social media as a way to share their real lives and connect with their audience. Companies can do that too. It absolutely CANNOT be a sales pitch. It loses people every time. It must be real and genuine.
- It must matter to you to matter to your audience. It is not enough for a consumer to be satisfied with the end product or service. They want to know their money is being used in a way that aligns with their own lifestyle and values.[3] If a consumer is discovering a company for the first time on social media, knowing the values and what matters to that company impacts their decision to follow, engage or learn more about the company.
- Have a social media strategy. There is so much potential in social media that a retail landlord must have a clear strategy. It is more than just pretty pictures and cute phrases. There is a way to use these tools to generate revenue, find tenants and make the opportunities discoverable.
The retail world is changing on a daily basis. It is our job to understand consumers and deliver what they are asking for – because retailers are looking.
If you would like to learn how we could assist with leasing through social media, creating an online influencer program and building a social media strategy, we would love to share more with you. Please email us at carrie@carriebobbandco.com or emily@carriebobbandco.com.
Carrie is the founder and CEO of Carrie Bobb & Co. She is a student of social media and a consumer behavior analytics nerd.
She has closed over $2 billion in total consideration throughout her career. Carrie has completed transactions with brands such as Sephora, SoulCycle, Drybar, Fox Restaurant Concepts, Restoration Hardware and many others. She has implemented leasing strategies through social media and online influencer programming on several projects. She was named one of San Diego’s Power Women in Real Estate and received her MBA from the University of San Diego. Carrie lives in San Diego with her husband, Matt, their three inquisitively adventurous kids and one joyful golden doodle.
[1] Boston Consulting Group. Mobile Marketing and the New B2B Buyer. https://www.bcg.com/publications/2017/marketing-sales-digital-go-to-market-transformation-mobile-marketing-new-b2b-buyer.aspx
[2] BrightEdge. Mobile
Research Round Up.
https://www.brightedge.com/resources/research-reports/brightedge-2018-mid-year-mobile-research-roundup
[3]
Brandwatch. (2019). The State of Moral Marketing. www.brandwatch.com/reports/state-of-moral-marketing/view/