From design-build firms to developers, and property managers to investment brokerage firms, real estate public relations programs help organizations to showcase accomplishments and accolades, highlight key transactions, and cement their positioning in the marketplace. While a real estate PR program that is both creative and strategic can rank among a firm’s most valuable marketing assets, a poorly structured program can become a marketing liability. To maximize your returns, avoid these five real estate PR mistakes.
Telling the same story
While maintaining a consistent brand voice is key to PR success, it is critical to avoid fatiguing media by consistently feeding them the same information. If you look at the news opportunities that lay ahead for your firm and have a mix of transactions, accolades, contract wins and new hires to announce, identify ways to both bundle announcements together to pitch feature-level stories and diversify the mix of topics you are covering during a given month or quarter.
Being overly self-promotional
When you win an award or achieve a major milestone, you want to shout it from the rooftops. And, in nearly all instances you should seize these ready-made opportunities to secure real estate PR coverage. That said, you always want to maintain a laser focus on identifying why a story is relevant to both the media outlet and its audience. For example, if you are awarded a green-building honor, is there a way to frame the news in the context of a larger story that discusses reducing the community’s carbon footprint or shares an interesting case study about a local company who is embracing alternative energy?
Missing the beat
Just as being overly self-promotional can result in overlooking the value and relevance of your news to reporters and readers, missing the beat can yield similar results. If a reporter only covers a specific geographic area – or specific subset of your industry – do not pitch them stories that are irrelevant. Not only will you frustrate them by barraging them with irrelevant information, you can unintentionally tarnish your firm’s reputation with that media outlet, which can lead to less coverage down the line.
Timeliness is a core component of newsworthiness. And, as the rapid-fire world of social media continues to shorten the news cycle, getting news out in a timely manner remains key. If you know there are three key transactions closing this month that need to make their way into the real estate trades, plan ahead as much as possible. You don’t want to get to the end of the month or quarter only to realize you haven’t maximized your firm’s news value during the prior months.
Chasing the competition
Real estate PR programs can help companies to maintain an edge over the competition. Unfortunately, some firms employ only reactive PR strategies, which can hinder their success. Avoid pitching your news to media only when you see they recently covered a similar story about your competition. Instead, focus on disseminating a steady stream of news stories that showcase the depth, breadth and expertise of your firm.
A well-executed real estate PR program can increase a firm’s share-of-voice, increase brand awareness, build trust and enhance expert positioning. When evaluating how to improve the effectiveness of your real estate public relations, be sure to avoid these five damaging mistakes.