When done well, public relations has an exponentially positive impact on commercial real estate firms. PR is extremely cost effective, and it’s often considered more trustworthy than traditional advertising. Plus, earned media placements can be leveraged in so many ways, from sharing on social media to posting on your blog, long after they’re originally published. By harnessing the third-party credibility of the media, you can help increase the public’s trust in you.
Whether your firm is new to PR or you’re looking to ramp up your existing PR efforts, begin with these four steps to ensure that your strategy is successful.
Step 1: Hire a PR team.
Alright, I may be biased here, but there’s no getting around it: the next three steps are made significantly easier when you have an experienced PR team doing the heavy lifting. Public relations just isn’t something you can keep on the back burner. If you want it done correctly, it requires an investment of time and effort. The right PR firm will take the time to create a strategy that fits your needs and, more importantly, actually works. If you have the budget, spend some time finding a firm that will understand your business goals and set you up for success.
Step 2: Keep your finger on the CRE pulse.
If you want to jump into the CRE conversation, not only do you need to know what’s being said, but also how it’s being said. Learn who the top CRE reporters are, what issues they’ve already covered and which topics and angles they seem to value the most. Most likely, your firm can speak to a number of industry issues and trends, but to secure media coverage, you have to present those perspectives in an enticing way. Understanding what makes a story newsworthy is the foundation of any PR strategy.
Step 3: Be prepared to show off your expertise.
If you keep up with the news, sooner or later a golden PR opportunity will present itself. Maybe there’s been a shift in the market or a new development has been announced, and you have an insightful, unique and authoritative perspective to bring to the conversation. But in the end, it all comes down to this: are you prepared to share your perspective with the world? That golden opportunity can easily slip by if you haven’t written a media pitch, built relationships with reporters and gone through media training ahead of time. If you’re prepared, you can make the most of those breaking news stories.
Step 4: Be patient.
Scoring a major media placement is exciting, but that’s not where the work ends—in fact, it’s more like where it begins. Public relations is an ongoing effort to build and strengthen relationships with reporters and find new ways to demonstrate your value as an expert. There’s always another angle to pitch, a different outlet to be published in and a fresh news cycle to take advantage of. Sit tight—you’re in it for the long haul.
