Earlier, word-of-mouth referrals and networking were the finest ways to find a prospective client for a commercial property. But today, with the change in customer behavior and the increasing demand in online search for commercial properties, real estate agents look for new ways to market their listings. That’s when they bank upon geofencing, an innovative digital marketing technique, helping commercial real estate companies stay competitive.
Are you wondering whether geofencing can assist your real estate business? Dig deep to get better insights into commercial real estate geofencing and its compelling advantages.
How does geofencing work for commercial real estate?
Geofencing helps commercial real estate agencies to stay relevant in this digital era. Whether you deal with office buildings, shopping complexes, or industrial units, you can easily promote your listings and acquire qualified leads. Let’s explore the few easy steps that help meet your marketing goals.
Step 1: Start with building geofences
Geofences play a significant role in this location-based marketing process. These are virtual boundaries created around nearby physical locations, allowing advertisers to target the right people at the right time. The concept remains the same for commercial real estate geofencing as well. Initially, you need to identify your target locations where property buyers often stop by. Some prominent examples of target locations for a real estate business are banks and credit unions, open houses, new commercial communities, competitor realtors, etc. Once you know your target zones, you can easily geofence these nearby areas to start your ad campaign.
Check out this blog to learn more about real estate target zones.
Step 2: Data collection and visualization
An appropriate geofence helps commercial realtors accumulate accurate locational data of potential property buyers. You can use this analytical data to get better insights into clients’ interests, neighborhoods they are looking for, building properties they need, and other demographic information. It helps better understand clients’ behavioral patterns, creating more personalized ads that can easily attract prospects to commercial property listings.
Do you want to know more about the technology used behind geofencing marketing? Probably, this real estate geofencing video may help you. Check it out.
Step 3: Develop creatives and multi-channel distribution
In geofencing marketing, you can serve real estate ads on websites and mobile apps accessed by the targeted audience. Since many prospects search online for commercial properties, you can easily target them through digital ads on their mobile devices. Usually, 3-5 ads per day are enough to entice a person actively looking for a commercial property. However, an added advantage is that you can continue sending ads for 30 days, encouraging ready-to-buy audiences to visit the listings at least once.
In a nutshell:
Geofencing for commercial real estate allows you to –
- Track and understand customer behavior
- Target specific demographics
- Reach prospective clients with timely offers
Above all, you can track and measure real-time reports to gauge the effectiveness of the ongoing ad campaign. From monitoring consumer actions to optimizing the process, geofencing streamlines your marketing efforts and helps elevate your business to the next level.
Benefits of commercial real estate geofencing
The idea of geofencing target locations and sending digital ads to potential clients stepping into those zones is indeed result-driven. However, you should follow proper practices and set up an appropriate commercial real estate geofencing ad campaign to attain the following benefits.
- High brand awareness
- Enhanced brand visibility
- Quality lead generation
- Faster conversions
- Better sales and revenues
The competition in the real estate industry is getting fiercer day by day. Thankfully, the geofencing marketing strategy has made it more convenient for realtors to stand out from the crowd. So, are you ready to witness an improved bottom line in your business? If yes, you can contact Get Geofencing. We provide a one-stop geofencing solution, helping small and large-scale real estate agencies promote their commercial property listings and grow sales. You can consult with our experts and get a free quote today.
Want to know more about geofencing? You can browse our website https://www.getgeofencing.com/ or call us at 866-951-0330.
Owner – GetGeofencing
Christopher Seminatore is the managing partner at Get Geofencing, one of the leading geofencing marketing companies in the USA. He gained a passion for location-targeting technology when he was a Naval Intelligence in 1989. He got convinced by this technology in the military sector and wanted to harness the power in marketing and advertising. It is when he started – Get Geofencing. Besides, Seminatore is a guest lecturer at UC Irvine, California, where he shares knowledge on Hyper-Local Marketing for Masters Business Curriculum.