Tag Archive for: Brand Positioning

Explore the STP marketing model's role in commercial real estate with our comprehensive guide. Learn how segmentation, targeting, and positioning can refine your marketing strategies, attract qualified leads, and drive successful deals in the CRE sector.

In commercial real estate, aligning marketing strategies with business objectives is integral to success. The Segmentation, Targeting, Positioning (STP) marketing model offers a structured approach to identifying the most lucrative segments, focusing efforts on the most promising markets, and crafting messages that resonate with the target audience. This article explores the application of the STP model in the CRE industry, providing a roadmap for professionals looking to launch or refine their marketing strategies.

Understanding the STP Model

The STP marketing model is a strategic approach that breaks down the marketing process into three steps: Segmentation, Targeting, and Positioning. Originating from the broader marketing discipline, STP has evolved to become a cornerstone of strategic marketing, offering a framework for businesses to connect and communicate with their desired audiences more effectively.

Segmenting the CRE Market

Market segmentation involves partitioning a broad market into smaller subsets of consumers with common needs or characteristics. In CRE, effective segmentation can be based on various criteria:

  • Geographic: Location-based segmentation, such as urban vs. rural areas or specific regions.
  • Demographic: Based on company size, type of business, or decision-maker roles.
  • Psychographic: Lifestyle or organizational culture preferences.
  • Behavioral: Past purchasing behavior or property usage patterns.

Tools like market research surveys, industry reports, and analytics platforms are invaluable for identifying and understanding these segments. For instance, a CRE firm can identify a segment of tech startups looking for flexible office spaces in urban centers.

Targeting the Right CRE Segments

After segmenting the market, the next step is targeting, which involves selecting the most valuable segments to focus your marketing efforts on. This decision is based on the segment’s size, growth potential, and the competitive environment. For CRE, targeting can involve focusing on high-growth industries such as technology or healthcare, which typically need office or specialized facilities.

Positioning Your CRE Offerings

Positioning involves defining and influencing how your CRE offerings are perceived by your target audience. This includes developing a unique value proposition highlighting the benefits and differentiators of your properties or services. For a CRE firm specializing in eco-friendly buildings, positioning might emphasize sustainability and energy efficiency as key benefits that align with the values of environmentally conscious businesses.

Implementing the STP Model in CRE Marketing

Applying the STP model in CRE marketing involves several practical steps:

  1. Conduct intensive market research to grasp the needs and preferences of various market segments.
  2. Select target segments based on strategic criteria such as market potential and alignment with your firm’s strengths.
  3. Develop positioning strategies that highlight your unique value in meeting the needs of your target segments.
  4. Craft tailored marketing messages that communicate your positioning effectively to each target segment. This can involve highlighting specific features of your properties, such as location advantages, technological infrastructure, or flexible leasing terms that meet the unique requirements of your target businesses.
  5. Choose the appropriate marketing channels to reach your target segments. Digital marketing tactics, including SEO, content marketing, and social media, are particularly effective in CRE. For example, LinkedIn advertising might target decision-makers in specific industries, while Instagram could showcase properties’ aesthetic and functional aspects to a broader audience.
  6. Implement and monitor your marketing campaigns using analytics tools to measure performance against objectives. This could include tracking website traffic, engagement rates on social media, and conversion rates for inquiries or property viewings. Regular analysis helps refine your approach, ensuring your marketing efforts align with your strategic goals.

 

Case Study: Successful STP Strategies in CRE

Consider the case study of a CRE firm that successfully implemented the STP model by focusing on the burgeoning tech startup market. The firm targeted emerging tech companies needing flexible, innovative workspace solutions by segmenting the market based on industry and growth stage. Positioning its properties as hubs for innovation and collaboration, the firm developed targeted marketing campaigns featuring virtual tours, tenant testimonials, and flexible lease terms. The result was a significant increase in inquiries and leases from tech startups, demonstrating the effectiveness of a well-executed STP strategy.

Challenges and Considerations

While the STP model offers a robust framework for CRE marketing, professionals may encounter challenges such as accurately identifying and reaching target segments or effectively differentiating their offerings in a crowded market. Ethical considerations also play a role, particularly in ensuring marketing messages accurately reflect the features and benefits of properties or services without overselling or misrepresenting.

Opening a Pathway

The STP marketing model provides a strategic approach to refining marketing efforts in the commercial real estate sector. By effectively segmenting the market, targeting the right segments, and positioning offerings to meet the needs of these segments, CRE professionals enhance their marketing effectiveness, attract more qualified leads, and close more deals. As the CRE landscape continues to evolve, embracing the STP model offers a pathway to achieving business objectives and driving the industry forward.

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Value-Add Inbound Content for Brand Positioning in the Real Estate Industry

What does your brand represent?

A brand embodies your values and attitudes toward your product and customers – and your prospects’ perceptions.

Your approach to marketing positions your brand as a provider of knowledge, value, and solutions – and has a direct bearing on your ability to attract and convert prospects to clients.

Let’s get into the ‘whys’ and ‘hows’ of improving your brand position through compelling inbound content for your marketing channels in the real estate industry.

Why Inbound Content for the Real Estate Industry?

While there are many ways to connect with your target market, inbound marketing is the most effective and does the most to support your credibility – and generate value.

If your brand were real property, inbound marketing and thought leadership would be your value-add strategies to enhance amenities, optimize expenses, and drive NOI.

Traditional outbound methods such as broadcast, print, cold email, and pay-per-click (conventional by current inbound best practices) may get your message to the public; however, they don’t provide your ideal prospects with substance. Outbound marketing provides linear (and often diminishing returns), while inbound strategies are logarithmic in generating increasing returns.

Inbound strategies bring the leads to you and uniquely position you as a credible provider. Outbound strategies convey neediness that doesn’t command the respect of prospects and doesn’t prompt them to contact you in appreciation of your insights.

For lean marketers (I’m not talking about your figure) – which is everyone in the current market – inbound content marketing is far less expensive. Though a sophisticated, credible piece of content, such as a whitepaper or contributor article, may require time and expense, it provides a one-time expenditure with continuous and increasing returns (with consistent promotion to your web and social channels supported by video).

Effective Real Estate Brand Positioning via TL

The essence of effective brand positioning is thought leadership (TL) via the inbound channels your prospects frequent.

‘Thought Leadership’ is an oft bandied about catchword; however, it’s an aptly named strategy that builds brand value and status through the most valuable asset – knowledge. TL also projects authenticity and transparency – 94% of consumers are loyal to companies with transparent practices, and 91% prefer authentic brands.

While many perceive competition as intense in the real estate and related industries, it’s relatively straightforward to differentiate yourself through TL and inbound content marketing. Surprisingly, the majority of firms are not utilizing these tools or implementing them consistently.

Your competitors may have similar products, services, and solutions that are viable substitutes for your offering; however, they don’t have your unique personal and collective knowledge. Besides, competing firms are likely not leveraging their insights as effectively as you are or will.

Knowledge, above innovative features and benefits, is your intrinsic differentiator and driver of value in a competitive marketplace. Incidentally, 75% of decision-makers attribute their final choice to sign with a company based on the substance of the vendor’s TL, while 70% determine your ability to deliver primarily based on your insights.

Inbound Content Opportunities

What are the most effective inbound content strategies for real estate executives and their enterprises?

The key to effective content that appeals to prospects and investors is offering answers and solutions to the questions and dilemmas they are facing.

For instance, if you’re offering a SaaS solution to help commercial property owners and asset managers track and interpret large volumes of contract data across a portfolio, you can provide content that answers questions such as:

  • How does it simplify operations?
  • How will it help me provide enhanced value to my clients?
  • How does it reduce expenses?
  • How is the software implemented?
  • What type of equipment do I need?
  • Does the service run entirely in the cloud?
  • Are there self-hosting options for greater security and control?
  • Is the solution sustainable in economic, operational, and environmental terms?

Knowing that prospects are seeking answers, what are the best opportunities to connect with high-level prospects – decision-makers – in the real estate industry?

The most popular and highest-value content forms include:

  • Podcast
  • Blog posts
  • Contributor articles
  • Whitepapers
  • Informative and inspiring social videos
  • Live streaming video on LinkedIn, FB, and Instagram

 

These inbound content forms yield not only leads directly, but also additional media opportunities, including invites for guest/contributor spots on podcasts, blogs, and high domain authority (DA) industry publications.

What are the best channels to distribute your inbound content?

  • Your corporate website
  • LinkedIn (B2B)
  • Facebook and Instagram (B2C)
  • Podcast platforms
  • YouTube, Vimeo
  • High DA publications (Forbes, VentureBeat, Inc, Entrepreneur, etc.)

 

How do you leverage these channels to generate leads?

  • Supporting your content with video
  • Tagging of people, companies, and groups
  • Sharing to groups and pages
  • Partnering with competitors and affiliated firms
  • Paid or ‘boosted’ posts

 

Putting it into Action

How do you get started?

These strategies can be overwhelming to consider, but taking the first step is simple:

  1. Create an outline of your ideal prospects’ demographic and psychographic profile, needs, desires, and the questions they’re asking.
  2. Research what channels and platforms they’re most active on and engage with them to understand their questions and language.
  3. Create a content map of all the insights you can share and leverage this to create topic ideas – incorporate SEO research for relevance.
  4. Start writing consistent content or enlist the help of content professionals.
  5. Publish your content, support with video and imagery, and engage with your audience to build your following.

Have more questions? Please leave a comment or contact us directly.

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