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April 01 2016


Shopping Centre Managers - How you can Market Your Shopping Centre in 3 Ways

Marketing a shopping centre is done for one of 3 good reasons. They are: People's Park Centre Singapore

 To attract people to the property
 To attract new tenants for the property
 To attract existing tenants to be the property

Given the different lifecycles of the shopping centre, the standards of marketing will be separate and various. Let's look at them some more.

First and foremost you have to attract people to the retail property. Without customers there is little change work and the property will fail. The marketing in the shopping centre as of this level has to be closely aligned on the needs of the customer and what they see the property as serving. We know this as local customer marketing.

To execute local customer marketing you absolutely do have to know what the customer thinks and just how they shop. That means undertaking surveys with the shoppers in different demographics as well as on different days of the week. The patterns of shopping and customers can change weekly and seasonally. Those patterns must be clarified and catered for.

Marketing for the local customer will often be via the more common methods such as;

 Local newspaper,
 Letter box brochure drops,
 Handout to get,
 Competitions in the centre,
 Bag drops and inserts during the time of purchase
 Seasonal community festivals for example Christmas and Easter etc.

This technique will need the cooperation with the tenant mix and those people that serve the customer. Your job as centre manager or property manager is to facilitate that.

The next level of marketing of a shopping centre is usually to prospective tenants. Invariably this is sometimes left for or during the time of vacancy. Not a good move to the property manager or leasing manager as vacant space can drag down a property performance for both tenant and landlord. When customers visit a vacancy they think that the property has a problem.

Ideally the marketing of the retail property with outside tenants ought not stop even if vacancies don't exist currently. With due regard for the needs of your tenant mix try these:

 check your franchise chains because of their premises requirements locally
 review all competition properties for potential target tenants
 get involved with the local business community groups containing small company people
 understand if your current tenants are conscious of others that may need to enter the centre with an all new business

With the last a higher level shopping centre marketing, it is to the existing tenants within the property. They are just as important as the customers that look at the property. When the existing tenants are satisfied in occupancy then vacancies are minimised and rent comments are easier to finalise.

To showcase a shopping centre to existing tenants, you really want to encourage property usage and comfort. That is an entirely different approach compared to previous marketing strategies. To understand:

 Monthly tenant meetings together with the property manager
 Quarterly tenant breakfasts or similar casual gathering to achieve a friendly and positive atmosphere
 Lunches or dinners with tenants more than a regular contact program
 Protect your anchor tenants with special more frequent contact
 Newsletters telling the tenants about changes to the property and the specific geographic area

When you market a shopping centre within these ways you can optimise the performance of the property for the landlord, the tenants, and also the financiers. An all-round positive outcome. People's Park Centre Singapore

Don't be the product, buy the product!