3 Commercial Real Estate Marketing Software Must-Haves
As a general partner at a commercial real estate firm, you know that deals are becoming harder and harder to find.
More than ever, real estate professionals are exploring new ways for sourcing deals and moving them across the finish line faster. But once you have an asset lined up, you’ll need to raise capital to fund the purchase. This is where many professionals struggle — too much is still manual and lacking in insight. This is why a commercial real estate marketing software solution is crucial — not just today, but for the months and years ahead.
The commercial real estate technology space is growing, but not every tool out there allows you to conduct marketing activities while also managing assets and relationships. Sure, you could invest in multiple platforms and CRMs to build the stack that you need, but each tool in your toolkit adds cost, training time, implementation, and disparities. Much of this can be avoided by leveraging commercial real estate marketing software that has the other tools you need built in for investor relations, fundraising, distributions, and other needs.
Whatever route you choose to take, what matters most is that you’re using a tool that gives you the capabilities and insights you need to make the most out of every opportunity — and every click. Let’s explore a few essentials that should be at the top of your list as you explore your options.
1. Investor Database Management
Your investors are your audience. You might also build a strong database of vendor contacts, legal partners, and service providers that you need to communicate with from time to time as part of your ongoing asset management work. Either way, the ideal commercial real estate marketing software will provide a CRM-like solution that enables you to manage these various audiences and the myriad tasks around them:
- Track investors by portfolio position and filter by asset, contact, entity, and referrer
- Link investors from multiple entities to understand their stake in your assets
- Drill down into each investor to view individual contributions, distributions, and contact information for more intelligent segmentation and marketing needs
2. Investor Pitching and Tracking
While your investors are putting their capital behind you just as much as the asset itself, it’s still crucial to put your newest deal opportunities in the best light possible. Creating digital assets that showcase your investment opportunities and provide needed information — while enabling investor-level capabilities — will go a long way in informing investors and allowing them to decide whether to get involved. Here’s what you should look for when evaluating commercial real estate marketing software:
- The ability to quickly generate online assets that can be easily shared with investors detailing everything they need to know about the opportunity
- Track investor activity on those digital assets, with the ability to see how engaged one investor is versus another and prioritize more interested investors
- Share a variety of deal-related information such as offering decks, photos, and more
3. Funding Tracking
While not a marketing activity per se, the ability to track the funding progress of your asset provides you with insights into the best next step. Is an investor not committing yet engaging with the asset opportunity repeatedly? Has an interested investor committed but not yet transferred funds? Which investors or entities have committed the most to your newest deal? Having immediate access to this information in a matter of clicks saves you significant time and gives you a clear path forward on where to focus your energy. Your commercial real estate marketing software should:
- See at any time where the funding progress of your asset stands so you can make an informed decision about what to do next
- Give investors the ability to indicate their preferences on a new deal and track them from soft circled to committed and funded
- Give you the ability to drill down into the investment progress of an asset and work with data to find out the information you need to keep up the momentum
Get Covercy — A Commercial Real Estate Marketing Software Solution That Offers Far More Than Just Marketing
At Covercy, we’ve built the first banking-embedded commercial real estate investment management platform that not only provides the marketing capabilities you need to capture investor interest but also manage assets from funding to post-close and beyond.
With advanced — and growing — sets of features that eliminate the manual, time-consuming tasks that commercial real estate has historically struggled with, general partners and their investors are empowered to have greater oversight and decision-making with each asset.
If you’ve been handling marketing efforts for your new deals manually and without any insight into performance, now is the time to make a change. Get in touch with us today to learn more about our platform’s capabilities and to see it in action.