The past few years have been difficult for commercial real estate owners across North America, but especially office owners and, more recently, industrial developers and property owners.
The U.S. office vacancy rate was 18.3% in December, and the sector continues to struggle as more companies adopt hybrid work-from-home policies. Meanwhile, the industrial market, which was hot during the pandemic-induced e-commerce boom, has cooled significantly and vacancy rates are rising.
As owners struggle to attract tenants in this difficult climate, the role of CRE digital marketing has become more important than ever.
“We're seeing a huge push from customers for marketing videos, digital ads and virtual tours,” said Andre Godin, co-founder of WalkthroughIt. “In today's competitive environment, listing teams and landlords need to leverage every tool possible to help their properties stand out and stand out from the competition.”
Godin, a former broker himself, calls WalkthroughIt a CRE marketing “one-stop shop” that creates a complete set of digital marketing content for all industrial, office, retail and life sciences projects, both existing buildings and new developments. ” he explained.
He said WalkThruit is among the largest landowners, developers and brokerages in North America, including Prologis, Brookfield, Link Logistics, JLL and Cushman & Wakefield. He said he sees a lot of demand for this approach.
Godin spoke with Andrew Sarazin, Head of Media Strategy at Walkthruit. Bisnow And we analyzed the top three digital marketing tools of 2024.
Digital advertising is a cost-effective way to keep a building top of mind for agents and tenants throughout the leasing process, Godin said. Walkthruit creates and distributes targeted digital advertising campaigns through LinkedIn, Google, Facebook, Instagram, and X.
“Let’s say you recently toured a tenant in your building,” Godin says. “Our advertising platform allows us to send targeted digital ads to keep our buildings in the spotlight as tenants make real estate decisions.”
Targeted digital advertising can draw attention to your building when tenants are making decisions.
Sarrazin previously worked at Meta, the company behind Facebook and Instagram, where he managed digital advertising campaigns for Fortune 500 companies including Budweiser, Porsche and Disney. He was responsible for advertising costs of $30 million a year. Godin said having someone with his experience and track record is a “huge win” for WalkThruIt and its customers.
“We want to build true partnerships with our clients where we can discuss strategy and provide recommendations, rather than relying solely on technology to set and forget advertising campaigns,” Sarrazin says. Told.
According to Godin, marketing videos are quickly becoming the new lease brochure and the top tool used by WalkThroughIt clients to market new developments.
He said that people today prefer to watch a two-minute video to understand a project rather than read a standard brochure, and that walk-through 3D videos are a great way to understand how a development is being developed before construction begins. He added that it is possible to show exactly what will happen.
Potential buyers have expectations of what the building will look like.
“Two years ago, the market was so hot that you could rent industrial buildings even before they were built,” Godin said. “Today, people want to see a building in person before committing to a rental agreement. So if you don't have a physical building to show your customers, you need a product like this to move the transaction forward. Become.”
In addition to engaging marketing videos and extensive digital advertising, Godin said 3D walkthroughs are a must-have in any 2024 CRE marketing package.
This product allows tenants to virtually tour a space before construction, much like a first-person video game. This allows you to visualize the true potential of your space and what it will look like once construction is complete.
Tenants can virtually tour the unfinished space, much like a first-person video game.
“Before I started Walk Through It, I was a broker and saw firsthand how tenants had a very difficult time visualizing their spaces before construction,” Godin said. . “Our 3D Walkthru product allows tenants and agents to tour future office specification suites six months before they are actually constructed, without leaving their desks.”
No matter what tools a CRE team chooses, working with a full-service firm with a proven track record can save time and money while providing assurance that the project is being executed by a market leader, says Godin. he said.
This article was created in collaboration with Walkthruit and Studio B. Bisnow News staff was not involved in the creation of this content.
Studio B is Bisnow's in-house content and design studio. If you would like to learn more about how Studio B can help your team, please contact us at studio@bisnow.com.
