Strategy for attracting clients for commercial properties should follow well planned and outlined sequences of operating and managing these properties, like in other business operations.
Estate management organizations and properties owners on a daily basis carry out operational plans which are identified in every of their activities. Mostly, operations plans are made by the organization’s low-level managers and frontline operator staff. In organizations routine functions are embarked on daily basis and low level or middle level managers need to plan on how their departments or units can effectively carry out such routine tasks. According to Hartzell, operational plan can be a single implementable plan or a continuous one. For instance, a manager operating at the frontline, his operational plans would include assigning employees to different particular task each week, evaluating the company’s stock and inventory, planning and drawing out monthly budget to use for his departmental operations, and arranging developing advertisements for promoting the sales of certain product of the company etc.
Strategic planning involve plans designed by management of organizations, with focus on how to enable the organization easily and effectively attain their outlined objectives and long term goals. Thus, strategic planning for attracting customers for commercial estate properties should involve the coordination of the estate’s management resources in such a way that they will be effective in achieving set targets and corporate goals and objectives. This type of planning is usually associated with estate managers whose plans are set on how to chart ways for the future and the goals of the organizations. Strategic planning sets framework for other types of plans in the organization (Ibid). According to Armitage strategic management embraces the continuous process which organizations put in place for it to be able to operate effectively in a changing environment. Hence, strategic planning will include plans to make the organization to grow, increase productivity, gain more market shares, plans to create more innovative products, the plans to increase organization’s profitability and plans to improve quality services to customers etc.
Effective Communication Attracts Clients to Rent Commercial Properties
Estate managers should adequately utilize effective communication with clients in order to win their patronage of commercial properties. From the first communication with tenants, the proper manager should create the impression of clients that the company values communication and is prepared to open its doors for continuous and unobstructed communication with the property manager. Commercial properties attract huge financial involvement, thus, the potential tenant(s) will want to continue to communicate in order to understand the terms of agreement of the tenancy contract. This communication between the property owner/ manager and the potentials tenant will linger on, most times even before and after financial commitments. Kalm suggests that one strategy for attracting tenants for commercial properties is for property managers to ‘create a plan for tenant communication. Tenant satisfaction is increased through proactive communication with tenants (Kingsley Associates Study, qtd. in Kalm).
Another point for building good strategy for gaining the trust of tenants for commercial properties is when estate managers and properties owners listen to their statements, argument and disagreement and help them too address their fears, doubts and needs. Communication is a two way process. The speaker and the listener need to play their role, and shift positions if need be for an effective communication too take place. Managers of commercial properties should know what their potential tenants want in order for them to find solution to these needs. By listening to them, the feedbacks from the clients will be utilized to proffer solutions to their needs. It is thus, recommended that face-to-face meetings with tenants at interval, for instance, once per annum, would give commercial properties managers the insight into priorities that their tenants seek. Also, giving questionnaires to tenants to fill and disclosing areas in which they want the property improved is an effective way of building the relationship that would attract new tenants and keep old ones in renewing their tenancy contracts.
Publicities and advertisements
Effective advertisement and public awareness campaign for existing commercial properties, is one sure way of attracting tenants. Creating handbills, posters, placing advertisements in print media, broadcast media and online property websites and social media are effective medium for advertising and making public awareness of commercial properties.
Event hosting
Managers of commercial properties can market their vacant assets to potential tenants by hosting events and inviting big and medium CEOs of organizations who may be interested in renting their properties. For example, a property company, named Two North Riverside Plaza hosted a ‘rock the plaza’ event and a similarly, the John Buck Company in its annual ‘spring fling’ hosted farmers who were targeted as potential clients to rent their commercial properties (Kalm). Such events usually create forum for interactions and then business transactions with potential tenants.
Building the right relationship with potential clients
The marketing for commercial properties and estates can be marketed by managers’ by building relationships with targeted personalities; who are identified as potential clients. Using the ‘5 C’s’ intimate services relationships, which consist of communication (self-disclosure), caring, commitment, comfort (compatibility), and conflict resolution (trust), managers of properties and estates can effectively build up their relationship marketing. This should be combined with the effective use of online business transacting portals to engage in Customers to Business (C2B) communication, Business to Customer (B2C), and Business to Business (B2B) interactions.
The relationship marketing strategy can be divided into different phases: acquaintance, build, continuation stages. The acquaintance stage s is when clients’ attentions are attracted to the organization. The buildup stage entails the transition from the acquaintance stage to more intense relationship. According to Stern the buildup stage showcases potential clients and managers of businesses coming closer to sample interaction to test the outcome of their relationship. This consists of high level of expectations and with some levels of uncertainties. The continuation stage involves the rise of relationship from the buildup stage to a more deepened commitment where there is the presence of acquaintance, certainty, and the decrease of cognitive and emotional tensions (Perlman & Fehr, 32, qtd. in Stern).
Conclusion
Building trust in potential clients or tenants for commercial properties and buildings is very significant in the marketing strategy to attract and retain their patronages. To further boost this effective communication, publicities and creating awareness via social media networks and event hosting will make any marketing strategy to attract tenants for commercial properties and buildings very successful.
Work Cited
Armitage, Jack L. ‘Strategic management for Public Accounting (The CPA Manager)’, The CPA Journal, 1992. Web. http://www.nysscpa.org/cpajournal/old/12543369.htm ( 10 May,2006)
Harzell, Sherri. ‘Types of Planning: Strategic, Tactical, Operational & Contingency Planning’, Education-portal, 2003. Web. http://education-portal.com/academy/lesson/types-of-planning-strategic-tactical-operational-contingency-planning.html (10 Dec., 2013).
Kalm, Nick. ‘Effective Communications Strategies Are Key to attracting & Retaining Tenants’, 2011. Web. http://bomaelevatorspeech.wordpress.com/2011/07/19/effective-communications-strategies-are-key-to-attracting-retaining-tenants/ (10Dec.,13)
Stern, Barbara, B. ‘Advertising Intimacy: Relationship Marketing and the Services Con summer’, 26: 4, 1997.
