Shopping Centre Managers – The way to Market Your Shopping Centre in 3 Ways
Marketing a shopping centre is conducted for one of 3 good reasons. They are:
People’s Park Centre
To attract visitors to the property
To attract new tenants towards the property
To attract existing tenants to stay in the property
Given the different lifecycles with the shopping centre, the standards of marketing will be separate and unique. Let’s look at them a lot more.
First and foremost you have to attract customers to the retail property. Without customers there is little change work and the property will fail. The marketing of the shopping centre only at that level has to be closely aligned towards the needs of the customer and what they see the property as serving. We refer to this as local customer marketing.
To try local customer marketing you will have to know what the customer thinks and just how they shop. Meaning undertaking surveys of the shoppers in different demographics and so on different days of the week. The patterns of shopping and customers will alter weekly and seasonally. Those patterns must be clarified and catered for.
Marketing on the local customer in most cases be via the more common methods such as;
Letter box brochure drops,
Handout in shops,
Competitions in the centre,
Bag drops and inserts during the time of purchase
Seasonal community festivals including Christmas and Easter etc.
This process will need the cooperation from the tenant mix and those people that serve the buyer. Your job as centre manager or property manager is to facilitate that.
The next step of marketing of a shopping centre is usually to prospective tenants. Invariably that is sometimes left for or at the time of vacancy. Not a good move for your property manager or leasing manager as vacant space can drag down a home performance for both tenant and landlord. When customers visit a vacancy they think that this property has a problem.
Ideally the marketing of one’s retail property with other outside tenants ought not stop even if vacancies don’t exist currently. With due regard to the needs of your tenant mix try these:
check the franchise chains because of their premises requirements locally
review all competition properties for potential target tenants
get included in the local business community groups containing small business people
understand if your current tenants know of others that may desire to enter the centre with a new business
With the last a higher level shopping centre marketing, it can be to the existing tenants inside property. They are just as important as the customers that look at the property. When the existing tenants are pleased in occupancy then vacancies are minimised and rent testamonials are easier to finalise.
To advertise a shopping centre to existing tenants, you desperately want to encourage property usage and luxury. That is an entirely different approach compared to the previous marketing strategies. Consider these:
Monthly tenant meetings using the property manager
Quarterly tenant breakfasts or similar casual gathering where you can achieve a friendly and positive atmosphere
Lunches or dinners with tenants on the regular contact program
Protect your anchor tenants with special more frequent contact
Newsletters telling the tenants about changes for the property and the specific geographic area
When you market a shopping centre throughout these ways you can optimise the performance of the property for the landlord, the tenants, and also the financiers. An all-round positive outcome.