Marketers in commercial real estate are tasked with attracting and retaining clients that need CRE properties purchased, sold, and leased. While there are many ways to design a commercial real estate marketing strategy, the most successful companies are implementing the use of VR technology every step of the way. Marketers encouraging their teams to adopt cutting-edge technologies are now seen as saviors—literally. Commercial real estate VR benefits marketers by reducing their financial risk; it provides them with data analytics to track their ROI and defend their decisions; it saves them ample amounts of time; and finally, by reducing the amount of back-and-forth communication across teams as a whole.
The Benefits of Commercial Real Estate VR for Marketers
1) Commercial Real Estate VR to Reduce Risk
With innovation at an all-time high, CRE marketers are now able to lessen the blow of operating costs by replacing traditional marketing methods—which tend to be more expensive—with commercial real estate VR. Using VR as a paperless alternative to antiquated marketing materials like 2D renderings of buildings and brochures will save your company money. Not to mention, it will also eliminate your print signage costs. Every penny saved is a penny earned!
2) Commercial Real Estate VR Enables Data Tracking
Because commercial real estate VR is a paperless resource, it’s easy for marketers to implement it into their pre-existing digital marketing efforts. BlockVue’s commercial real estate VR solution allows companies to track the following important campaign KPIs:
- Click-through rates
- Geo-locational data
- Engagements and reactions
For marketing campaigns to be useful, their success must be trackable and measurable from start to finish.
If you are unable to track your marketing efforts, you won’t know if what you’re doing is working or if you’re wasting time, energy, and money doing it.
3) Commercial Real Estate VR Saves Time
Everyone knows that time is your most valuable asset—and with VR, you could be saving a lot of it. With commercial real estate VR, marketers can distribute shareable walkthrough links of properties that are quick to load and easy to access. The immersive nature of virtual reality will not only help to peak people’s interest, but it also radically accelerates the decision-making process for clients (or tenants) who struggle to visualize properties on paper, or in 2D renderings. VR gives decision makers the kind of flexibility they’ve never had before. A Denver-based commercial real estate developer, Daniel Nichols, weighed in with his experience: “One of the hardest parts about selling or leasing a space to a company is that people have a hard time being able to visualize what either the vacant space will look like or, in our case, the new building will look like when it’s fitted out for them specifically. Even though architects do an incredible job of drawing and 3D modeling a space, it’s nothing like immersing yourself in the real thing. By allowing customers to see the results of their potential investment, VR helps companies to build trust and improve the lives of their buyers by enabling them to make more informed and realistic decisions.
4) Commercial Real Estate VR Improves Communication
Know your audience:
- Landlords with properties want to know how you’ll fill their vacant space.
- Commercial real estate investors want to know how you’ll sell their property quickly.
- Tenants want to know how you’ll find their perfect space and location.
Landlords speak a specific language; investors communicate in another, and tenants in a third. Commercial real estate VR is the tool that takes all of those different languages and translates them into one. You don’t have to be tech-savvy to understand this kind of technology. VR helps to bridge any knowledge gaps that may exist among people with differing expertise. Commercial real estate marketers no longer depend on the creativity levels of their target audiences. Guessing games are a thing of the past. With VR, commercial real estate developers, architects, brokers, marketers, and their clients will be able to visualize properties in their entirety or the dream that has inspired the creation of a future space.
By: Alexa Davis—Content Strategy @ BlockVue