Here are ideas to help you market a shopping centre to customers locally to attract sales and lower vacancy rates. Build your promotional campaign for your shopping centre around these advertising and publicity strategies.
So where do you start? The shopping centre marketing process is quite specific and will help the property and the tenants attract more ongoing business. That formula is critical to boosting customer visits and sales. That then underpins rental and lowers vacancy rates.
Importantly, every successful shopping centre should have an established marketing program for each trading year. That marketing program would be merged into the business plan for the property, together with the necessary costs and campaign commitments. The campaign would be tracked through the year for results with customer numbers and sales across merchandise groups.
So the successful marketing campaign will help the tenants within the retail property succeed from a business point of view.
The promotional process helps the landlord minimise the vacancy factor in the property and strengthen the market rentals for each and every lease. The occupancy rates in a successful shopping centre are generally quite strong and marketing will be part of that. Tenants from nearby properties will watch competing properties, and understand the success of your property and potentially seek to occupy when vacancies occur. This then helps the overall leasing strategy for the asset. Improvement then occurs.