In a recent roundtable discussion hosted by VidTech, industry leaders came together to delve into the evolving role of technology and data in commercial real estate (CRE). Moderated by Evan Brandt, CEO and co-founder of VidTech, the panel featured insights from experts across various sectors within the CRE industry. The conversation highlighted innovative strategies for enhancing marketing and operations in today’s digital landscape.
Participants
- Lawson Dees: Director of Operations at CREXi, a leading commercial real estate marketplace.
- Jeremy Felt: Real Estate Manager at Dollar Tree, handling site selection and lease negotiations in the Northeast.
- Ashlyn Booth: Executive VP of Strategy and Marketing for JLL’s Property Management division, with a focus on retail assets.
- Jason Schwetz: Landlord, real estate broker, and co-founder of VidTech, with extensive experience in managing shopping centers and single-tenant properties.
Key Insights from the Discussion
Enhanced Data Utilization
- Geofencing and Mobile Tracking: Panelists discussed the power of geofencing to gather critical data on consumer behavior around properties and competitors, enhancing marketing and leasing strategies.
- Credit Card Data Integration: By combining geofencing with credit card transaction data, marketers can obtain a deeper understanding of consumer spending patterns, tailoring their strategies to match customer preferences.
- Real-Time Data Access: The use of real-time data tools was emphasized for its role in enabling quick analysis of market conditions and property performance, which is crucial for making informed decisions rapidly.
Leveraging Technology and Video
- Drone Footage and Aerial Property Management: Drone technology is transforming property management by providing comprehensive aerial views that help potential clients understand the layout and context of a property.
- Virtual Tours and Video Calls: With ongoing travel restrictions, virtual tours and video calls have become essential tools, allowing properties to be showcased remotely and speeding up the decision-making process.
Creative Event Marketing
- Community Engagement: The panel highlighted examples such as hosting local events to draw crowds and foster community engagement around properties.
- Tenant-Centric Marketing: Collaborating with tenants to organize events can significantly enhance foot traffic and tenant satisfaction.
Transparent and Targeted Marketing
- Detailed Property Listings: Utilizing AI and platforms like CREXi can improve the accuracy and detail of property listings, making them more attractive to the right tenants and buyers.
- Tailored Marketing Campaigns: Data-driven marketing campaigns can effectively target potential tenants, customized to meet specific needs and market segments.
Collaborative Marketing Efforts
- Partnerships Between Landlords and Tenants: Encouraging cooperative marketing strategies between landlords and tenants can lead to mutual benefits.
- Broker and Technology Partnerships: Collaborations with technology providers are crucial for leveraging advanced data tools and enhancing property promotions.
Flexible and Adaptive Strategies
- Market Adaptability: The necessity of remaining flexible and responsive to market changes was a key theme, ensuring that marketing strategies stay relevant and impactful.
- Innovative Approaches: Experimenting with new marketing techniques and tools can help companies stay competitive and attract new business.
Conclusion
The roundtable underscored the critical importance of integrating technology and data in modernizing CRE marketing efforts. As the industry continues to navigate the challenges and opportunities posed by a post-COVID world, embracing these tools is no longer just an option but a necessity.
For more insights and to view the full roundtable video, visit VidTech.com.
