Tag Archive for: Public Relations

Sustaining Growth During Economic Uncertainty in Commercial Real Estate with Public Relations

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Sustaining Growth During Economic Uncertainty in Commercial Real Estate with Public Relations

In the challenging landscape of economic uncertainty, every sector feels the impact, and commercial real estate is no exception. Yet, with a robust public relations (PR) strategy, commercial real estate firms can navigate these turbulent times. PR is an essential part of preserving trust, demonstrating the continued value of your offerings, and enhancing your reputation in the industry.

This comprehensive guide will delve into the indispensable role of commercial real estate public relations during challenging economic conditions and explore essential strategies for success.

Emphasizing Value Amid Economic Uncertainty

During an economic downturn, investors often become more cautious and selective, scrutinizing their investments carefully. It’s in these critical moments that your commercial real estate public relations strategy needs to take center stage, offering clear and consistent communication that amplifies the inherent and enduring value of your enterprise and assets.

In the complex world of commercial real estate, the concept of value extends beyond the simple metrics of ROI and NOI. Value encompasses the experiential component of the stakeholder’s involvement, how well you align in terms of corporate culture, how you support the industry and community, and the knowledge and insights you provide. Each press release, social media post, or investor communication should reinforce these dimensions of value, offering powerful reassurances about the resilience and potential of your venture.

The channels of communication you employ should resound with the story of your enterprise’s enduring value. Whether it’s newsletters, press releases, investor briefings, or social media posts — every touchpoint should echo this core message. And in an age where storytelling reigns supreme, the narratives you weave can make your value proposition not only digestible but also highly engaging and convincing. It’s about painting a vivid picture of each offering’s potential, its place in the community, anticipated growth trajectory, and unique selling points that set it apart in the market.

Leveraging Media Relations and Thought Leadership

Economic uncertainty triggers a thirst for insights and understanding. Stakeholders, potential investors, and media outlets are constantly seeking expert analysis and interpretations about the commercial real estate market’s state and its future. This scenario presents an opportunity for commercial real estate firms to step up and meet this demand.

By harnessing media relations and establishing your firm as a thought leader in the industry, you can feed this demand for information while simultaneously boosting your brand visibility. Initiate proactive engagements with journalists and offer expert commentary on market trends, property valuations, and the wider economic impact on commercial real estate.

Regularly publishing contributor articles and blog posts that provide insights, predictions, and advice about the market can also reinforce your firm’s status as an industry authority. It’s about creating a dialogue around the challenges and opportunities the current market presents and offering guidance based on your firm’s experience and expertise.

Moreover, don’t hesitate to showcase examples from past economic downturns where your firm successfully navigated the challenges. These real-life narratives can serve as powerful testimonials of your firm’s resilience, strategic prowess, and industry expertise, helping to bolster confidence among your stakeholders.

Building and Nurturing Relationships

Economic uncertainty can often spark apprehension among stakeholders. Their concerns about the market’s stability and their investments’ performance are entirely valid, and addressing these concerns should be a key component of your commercial real estate public relations strategy.

Proactive and transparent communication becomes crucial during these uncertain times. Regular updates on market conditions, changes in enterprise and property value, and strategic adjustments your firm is making can go a long way in keeping stakeholders informed and engaged. These updates can be shared through various channels – newsletters, social media updates, webinars, or even one-on-one calls. The objective is to maintain an open dialogue with your stakeholders and address their concerns in real time.

The importance of nurturing relationships within local communities should not be understated either. Demonstrating that your firm is genuinely invested in the well-being of the community can foster a positive image and public support. This could involve participating in local initiatives, sharing updates on how your projects are contributing to the local economy, or even volunteering in community improvement projects. A firm that is seen as a community partner, rather than just a commercial entity, is likely to earn a better reputation and stronger public support.

Demonstrating Commitment

While economic uncertainty does present significant challenges, it is far from an insurmountable obstacle for commercial real estate firms. A solid, well-executed public relations strategy can help your firm navigate these challenging times, preserving its reputation and ensuring continued relevance in the market. By emphasizing the enduring value of your company, brand, and/or properties, leveraging media relations to establish thought leadership, and nurturing strong relationships with stakeholders and the local community, your firm can demonstrate resilience, adaptability, and a commitment to its stakeholders.

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How PR Drives Investor Relations

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PR for Investor Relations

Learn how PR supports investor relations. Find the insights of our CEO and Creative Director in this expert panel on the subject.

Click here to read the article

 

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How to Write a PR Pitch that Excites Commercial Real Estate Journalists

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How to write a commercial real estate pr pitch

Successful pitching in commercial real estate public relations is a function of two fundamental things: creating value and telling a story. We all appreciate useful information and get drawn into a compelling storyline. Journalists scan for these two components when they receive your pitch. This only takes a few seconds, and if you haven’t communicated these effectively upfront, it’s game over.

In launching or growing your business, given the substantial cost of paid media (conventional advertising), getting earned media (public relations) is crucial to your ability to scale while keeping your marketing budget manageable.

Let’s go over what’s most valuable to journalists and their audiences and how to communicate your insights and story in a way that drives results.

What journalists and the audience want to know

If you’ve communicated with a CRE journalist, you know they have clear expectations and standards regarding the types of stories they will consider. They’ll mince no words in expressing exactly how they feel about what you’re pitching — or you just won’t hear back.

So, what are journalists looking for?

Stories that create value for their audience, i.e., provide insights, inspiration, and takeaways (actionable advice).

Here are some of the high-value topics of interest in commercial real estate media:

  • Statistics (primary research)
  • Market outlooks/projections
  • New technologies and business models
  • Mergers and acquisitions
  • Hiring announcements
  • Transactional news
  • Product releases
  • Market trends
  • Capital raises

When considering a potential story, ask: “What could a reader do with this information?”

If it can help them identify opportunities in the marketplace, avoid risk, get inspired, or anything else fruitful, you likely have something worth sharing with the media and audience. If you’re unsure if the story idea is viable but have a relationship with a journalist, you can leverage that connection to gather feedback on your idea. The journalist may even appreciate you asking for their thoughts and giving them first access to the story.

Before you send a pitch, know the journalist’s interests and what beat they cover; only pitch stories relevant to their publication and followers. With most publications’ websites, you’ll find a search bar where you can punch in a journalist’s name and browse all the articles they’ve written — Google search also works.

Gathering the facts and how to present them

Once you have a viable angle in mind, you need to present it in a manner that immediately captures the attention of journalists.

Get to the heart of the matter right away by addressing the FACTS. Opinions and feelings have a place in an authentic story, but what’s most critical are the factual details — the subjective is the icing on the cake of truth and reason.

Hook the journalist with a headline and first paragraph that address the 5Ws:

  • Who:
    • is involved (stakeholder organizations and individuals)?
    • is it relevant to or would be interested?
    • does it impact or benefit?
  • What:
    • is being announced?
    • is the past or planned outcome?
    • are the details?
  • When:
    • did or will it start/finish?
    • was the idea conceived?
    • will the impact be felt?
  • Where:
    • is it happening?
    • did it start or originate?
    • will it have an influence?
  • Why:
    • is it important to the audience?
    • will it support the industry/consumers/society?
    • did the company or individual launch this initiative?
    • are the stakeholders excited about it?

Start with a blank document and set up bullets like these. Plan a discovery call with your team and any involved stakeholders and talk through these points until you feel confident you’ve gathered all the facts and context for the story. And to make it easy to prepare executive quotes to include in the release, record the meeting and pull from the conversation.

The result will be a substantive press release covering everything a journalist would want to know to make a quick decision to respond to your pitch and request an interview. This is how CREC starts the discovery process for every release — it works!

When sending out a pitch, you can either present it as a formal press release or write it up like a genuine email directly to the journalist. If your announcement is relevant nationally, you’ll want to prepare a press release and publish it to a leading newswire service (Cision). In addition to putting it on the wire, paste the copy of your press release into the footer of a friendly personal email and send it to the journalists you know who, based on your research, write about the subject.

For releases primarily of interest regionally, a personalized, informal email is ideal. Include all the facts and the story in the body of the email, preceded by a gentle, rapport-building introduction. Follow the details with a low-pressure call-to-action to request more information and schedule a conversation. It’s okay to make the tone softer and less journalistic than a traditional press release but stay objective.

Should you follow up by phone?

If you know you’re sending the pitch to a journalist that would care about the story, it’s acceptable to follow up with a phone call to check if they’ve received your email and can provide any feedback. If you already have a relationship with the journalist, you should certainly give them a ring — it helps build rapport and might save your email from the junk folder.

Telling a story and what not to do

Whatever you pitch and however you put it out there, it needs to be framed in a narrative. While the facts are the priority, the story puts the announcement in context and helps the reader relate. The storyline allows the audience to understand how things got to where they are and how the information fits into the broader framework of industry, society, and life.

Telling a story can sound challenging; however, it’s relatively straightforward in commercial real estate PR. Using the facts and story points you pulled together in the 5Ws exercise, you can assemble a narrative that commences with all the key facts.

Then, in the body of the release, elaborate on how the announcement developed, who was involved, what role they played, what outcome occurred (or will), and why it’s relevant to internal and external stakeholders (including industry and community). Reach out to CREC for examples of what this looks like.

Finally, let’s talk about what not to do in your pitch — these will save you:

  • Don’t be self-serving or promotional.
  • Report the facts and don’t use a persuasive style.
  • Take a journalistic tone.
  • Keep it in 3rd person — No ‘I/You/We.’
  • Avoid adjectives and adverbs, i.e., don’t dress it up.
  • Convey opinions and feelings in quotes from the executives (no more than 2-3).

Stories that give

Thinking like a journalist and anticipating readers’ interests will get your story out there. In commercial real estate, like most industries, what’s most interesting are stories that ‘Give.’ When you provide the audience with something that inspires, informs, or equips them to do something that leads to growth, journalists will quickly respond to your pitches and be happy to write articles that feature your company and executives.

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Building Your CRE Brand with PR | Stacey Cohen

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RE EXEC Tl | Stacey Cohen

In this episode of RE EXEC TL, we’ll chat with Stacey Cohen. She’s the CEO and Founder of CoCommunications, a New York-based PR firm.

In our conversation, we’ll uncover why PR is the most powerful branding tool for CRE firms, how strategic partnerships between competitors — or ‘Co-opetition’ — create value for everyone, and why personal branding and digital citizenship are crucial for young adults as they enter the professional environment.

We’ll also get into why we can’t let Google shape our brands, the value of an integrative approach, the benefits of newswire distribution, and how to create compelling pitches that get the attention of journalists.

Let’s get started!

Listen On Your Favorite Podcast Platform
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Kirky Galt on the Speaking of Wealth Show

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Kirky on Speaking of Wealth, Real estate copywriter interview

Kirky Galt, Founder, CEO, and Creative Director of Creative Real Estate Copy, and Host of Real Estate Thought Leadership Podcast, joins Jason Hartman, discussing marketing tactics in real estate. As well, how will developers reshape commercial real estate for the ever-growing need for real estate? Kirky iterates time and again to generate value in your content.

Key Takeaways:

[2:00] There have been many concerns about commercial space, but many are looking into converting it to residential.

[3:00] More than likely, we will see more infill developments rather than new construction.

[5:40] What kind of alternate uses can we expect to see with shopping malls?

[8:45] Companies should take this downtime in business to focus on marketing techniques such as podcasting.

[10:00] Content length has gotten shorter, but valuable content still has strengths, specifically white-paper.

[12:20] How has the PR world change, and what’s working nowadays?

https://speakingofwealth.com/sow-487-public-relations-kirky-galt-creative-real-estate/

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Why Sustainability is Crucial in Your Thought Leadership Content

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Why Sustainability is Crucial in Your Thought Leadership Content in the Commercial Real Estate IndustryCreative Real Estate Copy

You can attribute it to many things: tightening environmental regulations, social change, and consumer tastes, but one thing is certain – business and consumer prospects want to see environmentally and socially-conscious messages.

But it goes beyond environmental concerns. Sustainability is about human health, social progress, and the physical and financial prosperity of all stakeholders to the industry and community.

Getting to the Heart of Sustainability in Commercial Real Estate

How can we succinctly describe ‘Sustainability?’ Is it about being ‘green?’

Yes. However, it’s a complex topic that merits a lifetime of devotion and study.

The heart of sustainability is the 3Ps or ‘triple bottom line:’

People, Planet, and Prosperity.

Human progress and innovation in these three respects improve our odds of maintaining a green planet and eliminating conflict due to economic and social strife.

Wasteful and negligent business, investment, and construction practices pollute the environment, contribute to disease, repress social progress, and restrict communities economically.

To illustrate further, let’s look at an example of considerations in sustainability specific to commercial real estate, asset management, property management, and workplace development:

 

Aspect of Sustainability
Components
Human Health
  • Quality healthcare
  • Excellent education
  • Indoor air quality (IAQ)
  • Water quality
  • Indoor environmental quality (IEQ)
  • Thermal comfort
  • Natural views
  • Ergonomics
  • Functionality (productivity)
  • Daylighting
  • Walkability
  • Transportation
  • Open space
Environmental Health
  • Reduced material consumption (3Rs)
  • Regionally-sourced materials (limits transportation waste and pollution)
  • Efficient water use
  • Reducing the carbon footprint
  • Native and adaptive vegetation
  • Protection of waterways, lakes, oceans, and aquifers
  • Stormwater runoff mitigation
  • Leveraging emerging green technologies
  • Reducing solar heat gain and island effect
  • Brown and greyfield remediation
Economic Health
  • Durable construction materials and methods
  • Use of local labor
  • Energy efficiency and reduced operating expenses
  • Minimized liability for sick building syndrome (SBS)
  • Quality education for a skilled and adaptable workforce
  • Efficient and ergonomic design for productivity
  • Quality public transportation and infrastructure
  • Designs and operations that appeal to incoming industry and capital – regional growth and prosperity

 

These are all interrelated, and synergies exist in benefits across the components of the 3Ps.

Incidentally, these are pertinent topics and elements to incorporate in your thought leadership messaging strategy. This table is a significantly abridged list – you’ll never run short of content ideas when weaving your sustainable brand position.

Got it. So, how do content marketing and thought leadership mesh with these high-level objectives?

Demonstrating Expertise and Commitment to Innovation

Our primary goal in thought leadership is to advance our brands and build trust. The most practical and effective way to accomplish this is through written content.

Every bit of content you distribute – email to editorial – is an opportunity to show that you know your industry, your prospects’ problems, and how to solve them.

Coincidentally, many of your prospects’ and users’ problems are centered around issues of sustainability, regardless of whether identified as such.

Cash flow issues? Tenant Satisfaction?

Both have causes and remedies involving efficiency, comfort, and long-term functional utility.

Incorporating these topics in your press releases and ghostwritten contributor articles shows that your commitment to values and principles is more profound than to economic profit and social status.

As opposed to formal mission and ethics statements that attempt to convey sustainability consciousness, editorial and informative content provide concrete evidence to the audience of your knowledge and dedication to doing the right thing for people, planet, and prosperity.

Furthermore, talking about sustainability in your thought leadership campaigns positions you and your firm as a conscientious innovator in your field.

Carving Out Your Brand Position and Building Social Goodwill

For pragmatists, this is really about brand positioning. Considering that young and older generations alike are becoming more sustainability-conscious, we need to make it a priority for inclusion in our marketing.

Millennials – now the largest segment of our population – gravitate to sustainable brands and are willing to pay a premium for associated products and services.

But it’s not limited to millennials; 57% of Baby Boomers self-report that they’re more concerned about protecting the environment now than when they were in their 20s, while 68% indicate they’ve changed their practices concerning environmental preservation.

Community support and social goodwill for your venture are paramount. Whether it’s financing, permitting, or leasing, you’ll need the community on your side:

42% of US and UK consumers consider sustainable materials to be the deciding factor in their purchasing decisions, and a third hold brands responsible for environmental health and change. Additionally, two-thirds put more trust in brands that make a public pledge to sustainability.

Become a Sustainable Brand

Commit to pursuing sustainable practices in your commercial real estate projects – and talk about it publicly on a broad spectrum of media.

If you’re not sure exactly where sustainability fits into your business and how to leverage sustainable strategies to grow your practice through efficiency and goodwill, consult with design and content specialists that have an intimate understanding of the topic and how to relate it effectively to your audience in ways they find accessible and appealing.

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How to Write a Compelling Press Release for the Real Estate Industry

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How to Write a Compelling Press Release for the Real Estate Industry

The press release remains a relevant and useful tool in public relations campaigns for real estate industry firms. A well-written press release that appeals to journalists tells your company’s story and establishes credibility.

In this quick article, we’ll share our most salient tips to prepare or proof a top-notch press release for your real estate industry business.

Crafting a Compelling Angle

The core of your release is a captivating story that quickly informs the reader and sets the stage for your announcement.

You likely already have a topic or announcement in mind, so let’s consider how to evaluate and approach the subject for the most interest to editors, journalists, and readers.

Aspects/angles centered on your subject:

  • Social relevance-Impact on community
  • Environmental relevance
  • Economic impact
  • Inspirational startup story or case study
  • Innovation in process, operations, technology, design, recruiting, etc.

If you already have a topic in mind, consider what your announcement will mean for the community or industry and gear your subject matter to their interests.

Formatting Best Practices

Following best formatting practices helps your release get read and considered. For the real estate industry, in particular, it’s essential to customize any content we distribute to the tastes and preferences of our market and associated media outlets – it’s a sophisticated crowd.

Depending on how and whom you submit the release to, there may be specific formatting guidelines and specifications:

  • Cover all material angles, benefits, 5Ws, etc.
  • Single space between sentences and justify body text.
  • Times New Roman in 11 or 12-point font.
  • Use Oxford (serial) comma.
  • Journalistic and objective tone.
  • Avoid self-serving biases.
  • Limit promotional language.
  • Utilize third-person voice (no personal pronouns, e.g., ‘I’ or ‘you.’)
  • Small and concise paragraphs logically arranged.
  • Avoid clichés, slang, and colloquialisms.
  • Only include ‘about’ at end if details are not included in body of the press release.
  • Hire a professional public relations writer for efficient and reliable results.

Please click here for the CREC real estate press release template.

Writing an Attention-Grabbing Title and Subtitle

The press release title is an opportunity to capture attention and inform the potential reader of the purpose and relevance of your release. Your title also provides the basis for a click-worthy email pitch subject line.

Title/headline and subheading example:

San Diego-Based VC Firm Negotiates $175M Acquisition of Vacant Downtown Retail Development

Renovation Project to Promote Local Small Business Revenue and Employment Growth

If we break down our example here based on the 5Ws, we’ll see why it’s a compelling title and subheading combination:

  • Who: San Diego-based VC Firm
  • What: Negotiates High-Value Acquisition, Retail Development
  • When: Recency implied. Include month when material.
  • Where: San Diego Downtown
  • Why: Renovation to promote small business and job growth.

The title immediately conveys the contents and angle of the story and allows the reader to decide if it’s worth clicking on and reading. If you’re stumped on what to do for a title, create bullets as we did above for each of the 5Ws and use them as building blocks for your heading.

Capture Attention and Address the 5Ws Upfront

Once your prospect opens your email, takes in your title, and starts reading, they’ll want to get to the point right away.

Unlike a traditional article or essay, your introduction must provide the basic facts and why the matter is relevant for stakeholders. Don’t start with quotes or witty story-based introductions; these will annoy journalists focused on fact.

To draw in the reader most effectively, respect their intelligence and write for a professional and educated audience (this includes residential prospects). As you proof your press release, diligently eliminate all content that is not relevant to your topic.

Use a critical eye and analyze every statement to ensure that it is extremely concise, pertinent, and the meaning is clear. Keep your content bounce rate low by avoiding using culturally-specific language – sports references for instance – that will confuse and derail diverse readers.

Effectively Incorporate Quotes

Quotes are essential elements of demonstrating the personal nature of the release and telling the story through the eyes of stakeholders.

To craft insightful and relevant quotes for your release, take in all the content gathered from the teams involved, and look for statements that express the character of the firm’s or project’s leadership. Quotes are the only appropriate place in the press release to allow slang or vernacular language, though it should be edited to reflect best on your sources.

You have some leeway to copyedit quotes – provided the intent and substance remains the same – to make them more specific, purposeful, and connected to the narrative of your piece.

If you don’t have direct quotes, look for opportunities to rewrite or create new quotes that express the sentiments behind the project and support the premise in a novel and memorable way.

Alternatively, you can request quotes directly from the parties involved, including corporate staff, investors, public officials, consumers, and relevant industry experts that will lend substantial depth to the thread.

If needed, seek assistance with preparing an accompanying pitch for your press release that will impress journalists and acquire media opportunities.

Get it Out There

For the best results, work with professional writers and publicists that know your industry media and consumers.

Expert PR writing and distribution teams ensure the quality and efficacy of your public relations campaigns. Leverage the advice here to proof your press release, whether you write it in-house, or partner with marketing professionals.

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