Considering business to consumer public relations for commercial real estate – strategy setting by commercial property type:

Retail

Marketing to consumers has long been thought of as the domain of the retailers themselves – while mall owners set their media relations strategy based on reaching retail real estate brokers.  But in recent years, having a mall-wide program to support individual retailers has

become increasingly important.  Every retail owner should consider: how are we promoting the brand of each shopping center, to its core target consumers?  Digital pr strategy and special events typically play key roles in these strategies.

Office

When brokers market an office building, they need to demonstrate to potential tenants that the location will support their business goals.  Consider: how can you position the building in

the marketplace to support those goals?  For example, professional buildings in which doctors, dentists and other service providers lease space can benefit from a brand marketed

as convenient and accessible to the surrounding community.  Many office buildings also include components that may directly benefit from a consumer public relations campaign – see the example below of Chicago’s John Hancock Center.

Hotel

“Hotels are commercial properties, but they go to 0% occupancy every day at check-out time,” goes the old saying in the industry.  If you’re an owner/investor – check out the consumer marketing campaign that the hotel’s brand is running, or that the management is considering.  While the location and building quality of a hotel is certainly critical to its core value, its ongoing cash flow will be largely determined by how well its marketing program reaches consumers.

Industrial

Consumers rarely need to visit distribution centers; if they do, the buildings are positioned differently, as “factory outlets” or other types of big box retail (see above).   But consumers can become a huge factor if a community opposes the development of an industrial park, or

of a specific facility.  When land use battles begin, industrial developers need to engage in a

consumer public relations campaign – and fast.

Multifamily

Buying, selling or refinancing your multifamily property?   B2B will do fine.  Leasing units?  Now that is a consumer public relations and marketing strategy.  In particular, most

successful multifamily owner are now engaging their potential tenant communities with

creative print advertising campaigns featuring a strong social media component.  Mobile marketing strategies are also being deployed, to reach potential renters, and drive building cash flow.

Integrating B2B and B2C – Example: Chicago’s John Hancock Center

Chicago’s John Hancock Center, the city’s delegate building to the World Federation of Great Towers, is owned by Golub & Company (B2B client).  The building has two

separate public relations strategies – one B2B (for office leasing) and one B2C (attracting consumers to the 94^th Floor Observatory).

The Observatory recently held a private event during which the National Hockey League’s Stanley Cup – won this year by the Chicago Blackhawks – was taken to the roof of the building, the highest point the actual Cup has ever reached, in any city that has had the honor of the Cup for the year.  After its trip to the roof, the Cup was brought to a private reception at the Observatory, where a small group of “friends of the firm” – including a few potential tenants –

were invited to have a

photo opportunity with the Stanley Cup itself.

This winter, when an ice skating rink is temporarily added to the Observatory, the

partnership with the Blackhawks will continue.  As that rolls out, the B2C campaign will continue to drive visibility for the Observatory direction – and indirectly, it will support the

B2B campaign for new tenants in the property.

How are you integrating business-to-consumer marketing strategies into your traditionally business to business commercial real estate marketing?

To contact Margy Sweeney:

Phone:  312-252-7314
Email: margy@blisspr.com
Twitter: @margysweeney
LinkedIn: Margy Sweeney

Last week, I had the opportunity to make a presentation to the St. Louis chapter of PRSA on this topic – which is based on multiple conversations with my fellow BlissPR colleagues about how we help our clients achieve their business goals. 

B2B service companies are great clients because they stretch us to come up with a clear vantage point on technical and often enterprise level matters.   But they can also be tough clients because they are very busy, as well as risk averse and slow to adopt change.   When we are faced with creating a new campaign, here are some of the things we think about to get out of the traditional “lather, rinse, repeat” kind of PR.  Here is what I said in St. Louis – what have I missed?  (Want to make sure you see this, @tressalynne)

1. Raise the Altitude.  First, get up above product.  If you are discussing the features and benefits of what the company sells, you won’t get the audience’s full attention.  It’s like looking at photos of someone else’s kids.  Find out what the audience truly cares about, and focus on that.  Here’s a great example of a major financial company surfacing the issues of concern to its customers, who are heads of HR:  MetLife’s 8th Annual Employee Benefits Trends Study.
2. Carve out an Issue to Own.  Second, don’t be afraid to make an idea the hero of the moment.  The idea can be an issue, a trend, a topic area – think “privacy” or “motivation” or “risk” or “capital flows” — but it’s not the product.  Then build a microsite or a blog or a strong point of view around that.  We have seen consulting firms take this tack, and predict that corporations will do so as well.  
3. Be of Service to the Communities you Care About.  What does your client know that can help the communities that they serve?   How can you help them do their own business better?  Often, research, benchmark data, opinion, counsel can be packaged in a way that galvanizes decision-making.  Here’s an example: BDO’s Retail Survey.
4. Enter the Ongoing Conversation. If your client is discussing a topic that matters, and has a point of view or research that extends the conversation, then you better be finding the right dialogues, and the people (bloggers) who are influencing them.  Addict-o-matic is a great way to find them. 
5. Learn to Share.  Once you have created your content, deliver it in many forms and formats.  SMPRs, video, data nuggets, how to advice, predictions.   And don’t be afraid to partner with a media outlet to deliver all that content goodness.  Here’s an example of what we mean:  Bloomberg BusinessWeek.com/Hay Group Study Identifies Best Companies for Leadership.
6. Don’t Hog the Microphone.  When your client is the only one talking –even if he or she is the smartest person in the room, it’s less interesting than if you invite other voices in to the discussion.  Open it up and more people will listen.    That’s what they found at McKinsey’s whatmatters microsite.   
7. Get Local.  If there’s a national trend – movement of some kind, whether it’s a rule change, a regulation, legislation – there will likely be local fallout.  Capture it!  People care about changes and problems happening in their own backyards, and are more likely to pick up the phone and call someone in their own area for help.
8. Build Your own Community.  In the old days, we used trade media to reach niche markets.  Not so much anymore.  Plus niche markets are getting nichier.  Sometimes you find them, sometimes you have to help your clients create them.  So if it’s CFOs of Canadian natural resources companies, or hospital facilities managers in the southwest, or med students who care about TB,  or meeting planners for financial services companies, sometimes it’s easiest to build your own audience.  

That’s what I came up with – what steps would you add? Click here to see the full deck or feel free to email me at abby@blisspr.com.

To reach Abby:

Phone: 212.840.0088
Email: abby@blisspr.com
Twitter: @abbycarr
LinkedIn: Abby Carr

Today, the market is more complex than it ever has been, particularly in the commercial real estate sector and the world of corporate site selection. To make sure the market is ready for your message, consider the following three questions: 

• Who is my audience? Where does their business stand in the economic cycle? Right now, real estate – particularly employment-driven sectors of commercial real estate – are lagging other industries like financial services and professional services in the economic recovery. Be sure you know if your audience is in “growth” or “survival” mode, and tailor your messages accordingly.
• Am I too late to the game to offer a fresh perspective? People don’t have time for ideas that they’ve heard before. For example, if you have a message focused on sustainability, consider how much green washing people hear every day. Make sure you have something new to say – and that your message stands up to any likely challenges.
• Am I too early? Is my audience ready to hear what I have to say? If your audience is not open to what you have to say, you’re wasting your time – and theirs. Be sure to connect your message with their current interests and challenges.

In 2005, I ghost-authored a retail market communications piece that received negative reviews from the audience because our research was good, but our timing was bad. Together with my client, we carefully researched statistics on the spending habits of Generation Y, on Americans’ lack of savings, and presented a case that retail could be in for a rude awakening. Far from being heralded as a prophet of market cycles to come, in the overheated market of 2005, retail professionals were looking for inspiration on how to go faster, close more deals, and beat out their arch-nemeses. Instead, we threw them into a cold shower of ugly statistics. Moral of the story? There’s no value in an “I told you so.” A more productive way to engage your audience is to educate them on how you can help them meet the challenges of today’s economy, while planning for all possible futures. Nobody wants to hear a blunt take on how they are getting it wrong.

Remember that clichés are born for a reason. How are you using market timing to make sure your communications are resonating with the market?

To contact Margy Sweeney:

Phone:  312-252-7314 
Email: margy@blisspr.com
Twitter: @margysweeney
LinkedIn: Margy Sweeney

What competitors can’t copy is a company’s Perspective.  Perspective (or issues ownership) becomes important in a commoditized industry where it may be difficult to differentiate your company from competitors. Perspective is the sixth marketing P.  It is one part intelligence (ideas, trends, insights), one part emotion (values, ideals).  It’s the discussion that happens alongside the product.  If you want to create a lasting marketing edge, the first step is to define your company’s Perspective.  Then, communicate that Perspective to the people that matter.

So, how do you get your Perspective heard by the people you want to listen?  Communication is critical. New online channels – like blogs, YouTube, Facebook and Twitter – have emerged that are more conducive to constant, direct engagement with customers and prospects. You need to “SELL” yourself:

Start by listening: Establish who you want your targets to be. Who are your customers, prospects and competitors? Listen to what your targets have to say and look for idea “gaps” that need to be plugged?  This could be opportunities for tips and other “do it yourself” advice for the consumers of your service.

Establish common interests: Create several composite friends that “flesh out” who you’ll be interacting with. If you are a hip new hair salon whose primary target audience is Gen X and Y females, find out where they are engaging online and what are they talking about. You may decide the “mommy blogger” community is a sensible place for you to engage. Get acquainted with what they care — and don’t care — about, particularly look for triggers for commentary and sharing.  

Look for favors after you’ve earned credibility: Decide what you want your friends to do. If you are a restaurant, do you want your friend to subscribe to your restaurant’s blog? Recommend your online promotion to a friend?  Typical beginner’s mistake = thinking that “we want them to buy stuff.”  Continue to converse about ideas, stories and links that have nothing to do with your business.

Love your audience, especially when they are not in sync with you: If you receive a nasty tweet or blog comment, similar to what you would do if you got an angry customer phone call, stop and think, “Why did I get this reaction?” And then ask, “Can I improve my value proposition so this doesn’t happen again?” If can’t answer these questions yourself – ASK. More often than not, the disgruntled contact will be willing to share constructive feedback; they feel listened to, cared about and appreciated.  Build on your “lessons learned” to create even better thought leadership in your industry that deepens your new relationships.

Engagement represents a sort of business marketing nirvana: the ability to develop an ongoing, mutually beneficial dialogue with your clients, customers and prospects.  It’s just a matter of recognizing how to leverage that opportunity.

To reach Nicole:

Phone: 212.584.5473
Email: nicole@blisspr.com
Twitter: @nicolejleblanc
LinkedIn: Nicole Leblanc

Real Estate: The world’s largest shopping-mall operator, Simon Property, announced today an offer to acquire one of its top rivals, General Growth Properties Inc., for $10 billion. If successful, the deal would potentially create the largest U.S. owner of high-end malls. According to reports, General Growth Properties is also in negotiations with Brookfield Asset Management about the possibility of funding to support an emergence from bankruptcy-court protection. The decision will be left up to General Growth’s board, with final say coming from the company’s creditors and the bankruptcy judge. To read more, click here.

Retail: The Container Store sent its employees a “hug” on Valentine’s Day with the launch of its inaugural “National We Love Our Employees Day.” Kip Tindell, Chairman and CEO, noted that the initiative was started to recognize employees and thank them for all their hard work, especially during the recession. According to the press release, “employees will be treated to special celebrations and recognition at the retailer’s stores, home office and distribution center” throughout the week. Read more at Retail’s Big Blog.

Markets: All eyes are looking internationally this week, specifically towards Greece, as the U.S. markets wait to see if the meeting of Europe’s finance ministers will produce a package that will ultimately bail out Greece and its fiscal crisis. The debt problems of Greece have shaken the confidence in the 16-country currency union, pushing the euro to a nine-month low against the dollar. While a bailout deal is still uncertain and no one knows exactly what it might look like, what, if any, role will the major European banks be asked to play? To learn more about Greece’s debt problems and what it means globally, click here.

What will YOU be looking out for in business news this week?

To reach Gretchen:

Phone:  212.840.1460
Email: Gretchen@blisspr.com
Twitter: @gsteinmiller
LinkedIn: Gretchen Steinmiller

Obama’s Budget:  President Obama released today the annual budget. Overall spending is expected to climb to $3.83 trillion and the national deficit is expected to shoot up to $1.26 trillion. Read more here.

Commercial Real Estate: REITs are still facing difficulties with decreasing rents and occupancies, but they have rebounded from March ’09 lows. The nature of investing in REITS, according to this article in the Wall Street Journal, has changed: formerly a stable and steady source of cash flow, REITs may now track the broader market, and many investors are now looking for growth opportunities. We are at or near the bottom of the CRE market, but it may be a long time before buildings begin to show increased value. If you’re looking for undervalued REITs, be aware that prices may already reflect an anticipated CRE recovery.

Retail: The Wall Street Journal provides an in-depth look at the e-book battle between Amazon and Apple, which came as a result of Apple’s launch of the iPad. On Sunday, Amazon halted all sales of books published by Macmillan in efforts to face the challenge of potentially raising prices to match Apple’s pricing terms for the iPad.

What are YOU reading?

To reach Nicole:

Phone: 212.584.5473
Email: nicole@blisspr.com
Twitter: @nicolejleblanc
LinkedIn: Nicole Leblanc

Bankruptcy: Since being bought out 2 years ago by a private equity firm, the troubles of the Reader’s Digest Association have been fairly well documented. For a number of years it has been trying to overhaul the magazine’s image both externally and internally, only to file Chapter 11 in August of this year. The weekend NY Times ran an in depth piece on Sunday detailing the demise of Reader’s Digest and how the company plans to reshape for the future.

Banking: Following the UK Government’s announcement earlier this month that they would be imposing a 50% tax on the portion of discretionary banking bonuses above £25,000 ($40,355), banks across the globe are debating whether to “spread the pain” of this new bonus tax among their global workforce by reducing bonus pools across the board. An article in today’s Wall Street Journal states that banks have two options. The first is that banks may choose to pay out the planned amount of bonuses to U.K. employees in order to keep their top people and simply shoulder the 50% tax. Or, they could offset the tax by lowering bonus pools across the firm as a whole.

Healthcare: The Senate on Sunday evening, voting 60-40, approved the first of three motions needed to close off debate on the health bill. The action made clear the White House has enough votes to ensure passage – potentially on Christmas Eve – of the broadest health legislation in a generation.

Retail: Cadbury PLC’s chief executive said Friday his company’s shareholders do not embrace Kraft Food Inc.’s $16.2 billion offer to acquire the British confectionery company. Since Kraft made its initial approach to Cadbury, no additional bidders have entered the fray. Hershey Co. and Italian chocolate maker Ferrero Spa have acknowledged that they are considering a rival bid for Cadbury. Hershey has lined up billions of dollars in financing for a potential bid but has yet to decide whether to go forward. Read more: here

An update from last week’s retail news: Urban Outfitters said Thursday its CFO John E. Kyees will retire and will be replaced by Eric Artz, CFO of VF Contemporary Brands, who will join the company effective Feb. 1, 2010.Kyees will take the title of chief investor relations officer on Feb. 1 through his scheduled retirement date of June 30. Read more: here

What news has captured your attention as YOUR week gets started?

To reach Sally:

Phone: 212.584.5482
Email: sally@blisspr.com
Twitter: @sallymartin
LinkedIn: Sally Martin

Markets: According to The Wall Street Journal,U.S. stocks were slightly higher this morning as acquisition activity lifted the energy sector and Abu Dhabi’s $10 billion rescue of Dubai provided some relief, though concerns over the financial sector limited the gains.

Exxon announced today their acquisition of XTO Energy Inc., in a $31 billion all-stock deal. The deal ends speculation about when Exxon would exploit the lower gas prices pressuring smaller, debt-laden companies in the oil patch, as they haven’t had a major acquisition since the merger a decade ago with Mobil. Consequently, energy stocks moved higher and crude-oil futures edged higher after lower earlier in the session. Gold futures also climbed, lifting metal stocks. Read more: here

Banking:  Citigroup Inc. will repay $20 billion in government assistance and exit a program under which the U.S. would cover losses on billions of dollars in loans, bringing an end to months of wrestling with its regulators and the Treasury Department. Citigroup will raise $20.5 billion mainly by issuing common stock to repay the Treasury. The bank has also decided to replace some of the cash it had agreed to pay employees with $1.7 billion in stock. Read more: here

Bankruptcy: Fairfield Residential, one of the nation’s largest apartment owners and developers, filed for bankruptcy on Sunday – the latest casualty of the turmoil engulfing the U.S. real-estate market. Fairfield Residential listed assets of $958 million and liabilities of $834.9 million as of the end of September. In addition, many of its properties are worth less than their loan balances. Read more: here

What are YOU reading this week?

To reach Rachel:

Phone: 212.840.5476
Email: rachel@blisspr.com
Twitter: @RachelBethG
LinkedIn: Rachel Gerber

Here are some headlines to look for this week:

Retail: The big retail buzz this week is Black Friday and November same-store sales. More Shoppers Hit Stores, but Spend Less Each this Black Friday, and the media is covering the weekend shopping at a rapid pace. Today, Cyber Monday will be watched closely and we expect stories to follow leading up to Thursday’s release of November retail sales. According to Barron’s, the big winners for November are expected to be Costco and TJX. Read more: Click here.

Management:  Microsoft is the latest company to face a management transition with the announcement that CFO Chris Liddell will leave the company by the end of the year to look for a new job. Read more here.

Real Estate:  A Dubai-based state-owned investment conglomerate Dubai World, with $59 billion of liabilities, set off a global stock market selloff this week after it said it wants to restructure its debt, including at its property subsidiary Nakheel. Read the Reuters coverage here. The announcement is rattling the U.S. real estate market as well. According to analysts, Dubai may have to unload properties at distressed prices which could drive down the price of all commercial real estate.  While it looks like the debt may be covered by UAE government interests, the question is: what will happen to the individual property sales? What impact will those prices have beyond the Middle East?

What are YOU reading this week?

To reach Nicole:

Phone: 212.584.5473
Email: nicole@blisspr.com
Twitter: @nicolejleblanc
LinkedIn: Nicole Leblanc

This Monday our weekly Top Line News Summary highlights three different sectors: banking, healthcare, and the markets.  Last week we covered bankruptcy, real estate and retail – more to come next week from our primary sectors.  To sign up to receive these posts regularly, click here.  

Without further ado, look for these topics to make the news this week:

Banking: With the Fed issuing a new rule that will require banks to get customer consent before they charge overdraft fees and Congress looking to draft legislation in the coming months on just this topic, it’s opportune timing that U.S. banks are easing how much they charge their customers in overdraft fees.  A new study from Moebs Services Inc. found that during the last 5 months, U.S. banks raised their standard overdraft fees at the slowest rate in 17 years, which is good news for those customers struggling in the wake of the recession.

Healthcare:  President Obama’s healthcare reform bill finally landed on the Senate floor.  Expect more news in the coming weeks as Democratic and Republican leaders debate major issues – the public option being one of them.  To read more: please click here.

Markets: There’s a lot of action in the markets today with home sales numbers released and soaring commodities and gold prices.  October home sales were up 10.1%, beating expectations.  The Dow gained more than 100 points and other stock indexes leapt as commodities prices soared amid dollar weakness.  Gold jumped to fresh record highs as metals prices rallied, defying underlying fundamentals as the unprecedented weight of investment money helped lift the markets to fresh 2009 highs.

What will YOU be looking out for in business news this week?

(Photo by JWorld)

To reach Karlsson:

Phone: 212.584.5485
Email: karlsson@blisspr.com
Twitter: @kbanks
LinkedIn: Karlsson Banks