#KeepingCRESocial by Sarah Malcolm: Social Media Helps Tenants Stick to You
A recent conversation with an industry professional inspired me to think about how social media and blogging can help property managers and owners get their tenants to stay. “Stickiness” tends to be a retail concept, but the idea applies to multifamily and office properties, too. Keeping the tenants you have is more cost efficient than finding new ones. Loyal tenants build the foundation of a successful commercial property.
What are the fundamentals of getting tenants to stay? For retail centers, that’s easy: foot traffic. The more people passing through the location, more chances a store has to sell product. Property owners or managers assume tenants are doing their part to drive foot traffic.
However, in the retail environment, it’s not just the brand’s role to create foot traffic. Commercial tenants want a landlord active in generating boots in stores. After all, when tenants succeed, the landlord succeeds–and vice versa.
Landlords and retail owners have an obligation to use social media to help drive buyers to their retail center. How can you do this?
Promote your retail tenants’ special events. Your retail tenants use their social media means to reach their targeted audience. Use your accounts to amplify their reach. Share their content or pay-to-promote.
Create large-scale retail events tenants can piggyback socially. Example: you’re hosting a walk-a-thon fundraiser, like a breast cancer awareness event. Your retail tenants can “go pink” along with your marketing efforts and use social to show what they’re supporting your event. Holiday-themed events are another excellent time to use social to build excitement and awareness for your retail center.
Highlight tenant sales. Is your retail tenant having a special sale? Use social to promote and drive that foot traffic! Play into your followers’ innate fear of missing out.
Promote your social app. More retail centers are designing special apps, like an augmented reality navigation app. Encourage its download and use by your shoppers. AR apps can have notes added to them, meaning you have virtual promotional space for your tenants. A shopper using AR can point their phone at a store and see a retailer is running a special sale.
Paid promotions. Boost the reach of your social media efforts using paid promotions and can be specifically targeted to an audience. It’s the best way to build a local following for your retail center. Through these promotions, create a sense your shopping center is a destination and not just a bunch of stores.
View social media as another marketing tool to assist your tenants in luring shoppers to their location. Social media is how people know the exciting things happening at your retail center. Use that strong online following as part of your toolbox luring retail tenants. Offer social media promotion as a perk available for tenant use. Knowing their landlord or property owner is doing everything they can to woo foot traffic helps tenants feel loyal to you and stick to your space.
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