Leasing retail center space in today’s competitive market requires innovative approaches that break through the clutter of traditional and mediocre marketing efforts. The following four key strategies have proved effective in targeting and securing new tenants in premium centers and new developments.
You’ve selected your target list of tenants; now use your property’s customers to attract these tenants.
Tenants want to know their store is right for you property. Why not have their prospective customers tell them for you? Execute online surveys, social media campaigns, or mail-in contests demonstrating to a prospective tenant that your customers want their store in your development. Another great marketing tool, Popularise, allows retail centers to ask for customer submissions of stores customers would like to see at the property and functions like a social media platform by giving customers the ability to like or comment on submissions.
Vacant spaces require cutting-edge, branded signage to help attract customers and prospective tenants.
Consider dynamic graphics with exciting visuals that draw attention to your property while staying true to your established brand. Buckhead Atlanta in Atlanta, GA utilized attractive window displays that accurately reflected their brand and the upscale expectations of their luxury retail customers as well as prospective tenants.
Newer technologies, such as 3D video mapping from Dutch company, NuFormer, can transform an empty storefront into an interactive window display by creating dynamic and engaging videos that captivate passing customers while concealing empty storefronts in an innovative way.
Customization is key to reaching leasing prospects.
Multiply your effectiveness through messaging that speaks directly to the individual prospective tenant. Besides providing just an overview of the market, specific location statistics and demographics of the surrounding area, be sure to include a personalized note based on previous communication with the prospect that follows the established brand. Reiterate the most up-to-date and relevant points that directly influence the prospect’s decision to consider your property. Madison Marquette’s leasing brokers at The Shops at Waldorf Center in Waldorf, Maryland and The Wharf in Washington D.C. utilize standardized e-blasts that allow for customized messaging that they use to speak specifically to each prospect while maintaining brand consistency with the established leasing brochure and collateral.
Strategic touchpoint direct mailers, customized towards the prospective tenant’s brand, make your property stand out among the competition.
For important puller retailers and anchors, it can be well worth the investment to create a highly targeted, customized mailer that demonstrates your knowledge of their brand and why your property should be considered among the many options they have for new stores. For these particular prospects, custom touchpoint campaigns including unique, one-of-a-kind 3D direct mailers can elevate your property to the top of their list for consideration. Printed 3-dimensional touchpoints are memorable and will cause prospects to spend more time truly understanding the featured information.
A new development in Gainesville, FL, Celebration Pointe created a touchpoint mailer for Whole Foods and Nordstrom Rack to entice them to visit their new mixed-use center. For Whole Foods, a customized, hand-made wooden food crate together with collateral messaging, featuring earth tone colors and words like “Fresh” and “Green,” was developed including “recipe cards” that served as the feature and benefits list for the property. The Nordstrom Rack touchpoint piece was focused on fashion, featuring collateral messaging with words like “Fit” and “Style” and presented in a “lookbook” format frequently utilized in the fashion industry.
It’s cliche to use the phrase “break through the clutter” but in today’s competitive leasing landscape, can you really afford not to try something different? Successful leasing strategies are built on relationships but with fewer stores opening less locations each year, relationships can use an extra “wow” factor by making sure that your message is heard above everyone else who is knocking on the same prospective tenant’s door. For more innovative ideas on how to lease your property quickly, contact the retail real estate experts at infinitee today.