The commercial real estate business has been making some huge changes and is flexing some market muscle when it comes to end-user innovation. There are so many different office space configurations and ways to lease those spaces it can be hard to keep up.
Really, it's almost crazy. There are more options than ever for business owners to get into real estate space and each seems to be uniquely oriented toward each a specific niche.
There are traditional long-term and short-term office leases, service agreements, coworking, flex office spaces, and the list just keeps growing.
For portfolio managers and building owners, however, the shift to so many options has created a bit of a puzzle in marketing their properties.
Dare to Stand Out
The idea behind a flex office space is it's easily adaptable to a business's changing or growing needs. Customization and expanding don't have to come with as big of a price tag with flex spaces. This means one of your biggest characteristics as a flex space is it works as a blank canvas built around the tenant's needs.
Even if your flex space isn't set up to be build-to-suit, you're still offering more flexibility than any traditional setting.
However, you still need to show what makes your flex office space unique compared to other flex offices. You need to stand out in what makes it better than the next.
How to do this often has a lot more to do with who you're marketing to and how versus what you've to offer.
Narrow Your Niche
It can be tempting to market to anybody and everybody when your flex office space offers flexibility to conform to any business need.
However, if you're marketing to a general audience your efforts are going to be less effective. In fact, blanket marketing is more likely to frustrate potential tenants and cause you to lose credibility.
Thus, just like any other product or service, you need to know and understand your ideal customer.
Break it Down Now
Start by reviewing the different configurations and functions your flex office listing can fill and the business sizes you're able to accommodate. Then, match what you're able to offer to the industries and businesses that'll more likely need it.
This is even better if you're able to create a list from your CRM and narrow down specific leads to market too.
Work What Your Location Gave You
It doesn't matter if you're listing a traditional setup or a flex office space, the cliche still stands. Location is everything.
Your flex office space's location will help narrow down the who to your marketing efforts. Think:
- What businesses already operate in your area and why? What's attracting them?
- What businesses make sense for your location?
For example, if your flex office space is near a medical park it'll make sense for businesses dealing in medical supplies to be interested. You'd be marketing your space's ability to combine warehouse, offices and a small storefront. This being ideal for the business to be able to work every aspect of their business in a prime location.
As you market, feature the advantages of your location. This will attract your ideal tenant before you've even gotten into how your flex office space will work better than traditional commercial space.
Emphasize the Benefits and How They Work
You're working hard to keep up with how to best marketing your flex commercial real estate. As you do this, keep in mind potential tenants are trying to keep up with the variety of options for their business.
You might be researching how best to market your flex office space, but your potential tenant is researching the benefits of flex space.
This means your best tactic will be to show tenants how the flex office space benefits work. Focus on marketing campaigns demonstrating the customization capabilities of your flex space. Help your target customer see their business existing in your space.
Build a Digital Space
This is where a branded website that is highly immersive and engaging will come into play. Feature content like beautiful images, video tours, testimonials and simulated rooms. You can even have your own blog breaking down and highlighting the benefits of flex spaces over traditional setups. All of which will help your potential tenant come to you ready to sign a lease.
If you want a leg up, StellaPop specializes in creative consulting and implementing integrated marketing strategies. We can help you make your flex space stand out the way you need it!