11 Trends in Commercial Real Estate Advertising in 2023

In the past, commercial real estate marketing trends were relatively simply to understand and follow. Professionals got the word out about properties available for sale or for lease by advertising in the physical world. Billboards and on-site signs, direct-mail campaigns and trade-magazine spreads, networking events and word of mouth — all of these efforts have borne fruit in the past. But given how the COVID-19 pandemic and subsequent economic malaise impacted the commercial market, unique real estate marketing ideas have sprung up, and professionals must know about them if they want to succeed. 

This article will discuss 11 commercial real estate advertising trends that will shape the market in 2023 and provide practical real estate advertising examples. 

Social Media Marketing

According to SEO firm Backlinko, more than 93 percent of people who use the internet also use social media, which means that maintaining an interactive presence there should be a priority in your digital marketing efforts for real estate. Unfortunately, the social media market has continued to fragment, and now it’s no longer viable to interact with a sole platform. Real estate professionals need to know how to connect with clients and other businesses via Facebook, Twitter, YouTube, LinkedIn, Instagram, and Google My Business, just to name a few. This may look like running an ad campaign on one platform, answering questions on another, and soliciting job interviews on a third. 

Floor Plans and Virtual Tours

Though commercial real estate buyers and lessees don’t actually live at their properties, they share one thing in common with residential owners: They want to see their real estate before they make a commitment. Physical visits to actual properties still have a very important place in commercial transactions, but freely available floor plans and virtual tours allow clients to pre-screen properties, which makes better use of everyone’s time. 

Single-Listing Websites

Commercial real estate professionals have a choice when it comes to marketing: They can market deeply or widely, either offering communications dense with information or providing easy-to-digest information centered on a single property. In a marketing environment that’s thoroughly saturated, we find that the latter option works better. Single-listing websites have several advantages with real estate marketing. Many agents experience great success by specializing in small areas, and a hyper-focused web presence aids in that approach. Similarly, a narrowly crafted online presence aids with SEO. Sites such as Google Maps often prefer sites dealing with a single property. 

Out-of-Market Referrals

Referrals remain the bread and butter of many commercial realtors’ bottom lines, except that today’s market may require you to think beyond your local context. Businesses change their operations regularly, and the search for space may lead them to work with a professional with whom they have no prior experience. Maintain your connections with other out-of-state agents, either through professional meetings, regular calls, or social media. It could be that a referral may come your way.  

Branding

One of the most prevalent forms of marketing in 2023 will likely also be one of the oldest. No commercial agent can perform every task and specializing (and letting others know about your area of focus) is the secret to successful branding. Focus on doing one thing exceptionally well, let it inform all areas of your marketing, and you will have built a successful professional brand. 

Event Marketing

Showing up sells space, and that’s as true for real estate as any other business. From in-person tours and participation in charitable events to client mixers and community-focused volunteerism, event marketing puts faces with a business’ name. It cements you in potential clients’ memories as an involved entity that cares. And when time comes to consider commercial real estate in some way, shape, or form, they will likely remember you. 

Hyperlocal Marketing

As we alluded to in our “Single-Listing Websites” section above, focusing your commercial real estate efforts will likely provide you with more success than spreading yourself thin. Highly populated cities can offer ample opportunities within a single neighborhood or (in some cases) a single block. Successful agents may prefer to specialize in a particular type of building within a unique geographical area. Whatever your particular sphere of competency, staying hyperlocal will aid your marketing efforts. 

Drone/Aerial Photography

Drone and/or aerial photography functions much like virtual property tours in the commercial agent’s marketing mix. Such footage allows buyers or lessees to see every area of the property, increasing both the knowledge and confidence. In the past, obtaining such content usually proved price prohibitive for anything except the priciest listings. Thanks to inexpensively available video-equipped drones, it can be had for a fraction of the cost. 

Robotic Process Automation (RPA)

Robotic process automation (RPA) is a software-powered system that observes end users performing certain tasks, developing an actionable plan through observation, and then automating the process. RPA is most commonly mentioned in conjunction with banking and laboratory work, but it also has commercial real estate applications. Many landlord-related tasks could be automated or improved through the use of RPA. 

Digital Transaction Management (DTM)

The popularity of online document-signing sites such as HelloSign and DocuSign shows that digital transaction management (DTM) is increasingly becoming mainstream. While not what anyone would strictly call an advertising or marketing measure, DTM does increase efficiency by minimizing the amount of time both agents and clients spend delivering, finalizing, and storing boilerplate documentation. DTM allows commercial real estate professionals to enjoy higher volume and increased time during which they can focus on other advertising efforts.  

Artificial Intelligence (AI)

Computers may not currently — and will probably never — be able to think for us, but artificial intelligence (AI) can perform certain tasks at levels we can never hope to imitate. Some of these include sorting, manipulating, parallel processing, and interpreting data at incredibly high speeds. This means that AI can help with segmenting and targeting certain customer types, particularly when their data is available online.  

With over two decades of commercial real estate experience, Millennium Properties understands how professional real estate marketing works. Contact us today to learn how we can help you!