As a commercial property manager, staying ahead of industry trends and best practices is crucial to maintaining property value and ensuring tenant satisfaction. This article provides key insights into optimizing operational efficiency, reducing costs, and enhancing tenant retention—critical aspects of your role. With the commercial real estate landscape constantly evolving, understanding these strategies can help you navigate challenges and seize new opportunities for growth. By reading on, you’ll gain actionable tips to elevate your property management approach and stay competitive in the market.
Generating Revenue with Digital Signage Kiosks 4 minute read | Updated November 11, 2024 In today’s competitive commercial real estate market, property management companies are continually seeking innovative ways to enhance revenue streams. One effective strategy is to leverage digital signage kiosks for OOHA (out of home advertising). Generate reveneue for your property, provide valuable exporsure for local businesses and tenants, and accelerate your return on investment. Here’s a step-by-step guide on how to implement this strategy successfully, along with examples of ideal advertisers. Step 1: Assess Your Digital Signage Infrastructure Before launching an advertising program, evaluate your existing digital signage kiosks. Consider factors such as: Location: Are the kiosks in high-traffic areas where they can capture the attention of tenants and visitors? Display Quality: Are the screens high-definition and capable of showcasing vibrant advertisements? Connectivity: Do the kiosks have reliable internet connections for content updates? A thorough assessment will help determine the potential for generating advertising revenue. Step 2: Develop an Advertising Strategy Create a comprehensive advertising strategy that outlines: Target Audience: Identify the demographics of your tenants and visitors. This will guide you in selecting suitable advertisers. Ad Formats: Decide on the types of advertisements you will accept (e.g., static images, videos, promotions). Pricing Structure: Establish a pricing model based on ad duration, frequency, and placement. Consider offering package deals for longer commitments. Step 3: Create Advertising Policies and Guidelines Develop clear policies and guidelines to ensure that all advertisements align with your property’s brand and values. Consider the following: Content Standards: Outline acceptable content, including prohibitions on controversial or inappropriate ads. Approval Process: Set up a process for reviewing and approving advertisements to maintain quality and relevance. Duration and Rotation: Define how long each advertisement will run and how frequently they will rotate. Step 4: Reach Out to Potential Advertisers Identify and approach potential advertisers who would benefit from exposure to your audience. Good candidates include: Local Businesses Restaurants and Cafés: Promote local dining options to tenants and visitors, especially if they offer takeout or catering. Fitness Centers: Gyms and wellness centers can attract individuals looking to maintain a healthy lifestyle. Professional Services Real Estate Agents: Local agents can showcase listings, open houses, or special promotions. Financial Advisors: Financial services can offer workshops or seminars relevant to your tenant demographic. Retail Stores Boutiques and Shops: Local retailers can advertise seasonal sales or new arrivals to attract foot traffic. Furniture, Decor and Office Supply Stores: These businesses can promote DIY workshops or special deals, particularly if your building attracts remote workers and shared office users. Health and Wellness Providers Medical Practices: Doctors, dentists, and wellness providers can promote services or community health events. Spas and Salons: Beauty services can attract tenants looking for relaxation or self-care options. Step 5: Promote the Advertising Opportunity Once you have developed your advertising program, promote it through various channels: Email Marketing: Send targeted emails to local businesses to introduce the advertising opportunity. Networking Events: Attend local business events and present your digital signage as a promotional platform. Social Media: Use your property’s social media channels to highlight the benefits of advertising on your kiosks. Step 6: Manage and Optimize the Program Once your advertising program is up and running, continuously monitor its performance: Track Engagement: Use analytics to assess how well advertisements are performing. Metrics such as impressions and engagement rates can help gauge effectiveness. Solicit Feedback: Regularly check in with advertisers to gather feedback on their experience and effectiveness. Adjust Strategies: Based on data and feedback, adjust pricing, formats, or promotional strategies to enhance revenue and advertiser satisfaction. The Key Takeaway By leveraging digital signage kiosks for advertising, commercial property management companies can create a lucrative revenue stream while supporting local businesses. With a well-structured program that prioritizes quality and relevance, property managers can enhance the value of their properties and foster a vibrant community atmosphere. This strategic approach not only benefits the bottom line but also enriches the experience for tenants and visitors alike. Explore itouchinc.com for more information on our solutions or contact us for needs unique to your property or project.
In today’s competitive commercial real estate market, property management companies are continually seeking innovative ways to enhance revenue streams. One effective strategy is to leverage digital signage kiosks for OOHA (out of home advertising). Generate reveneue for your property, provide valuable exporsure for local businesses and tenants, and accelerate your return on investment. Here’s a step-by-step guide on how to implement this strategy successfully, along with examples of ideal advertisers.
Before launching an advertising program, evaluate your existing digital signage kiosks. Consider factors such as:
Location: Are the kiosks in high-traffic areas where they can capture the attention of tenants and visitors?
Display Quality: Are the screens high-definition and capable of showcasing vibrant advertisements?
Connectivity: Do the kiosks have reliable internet connections for content updates?
A thorough assessment will help determine the potential for generating advertising revenue.
Create a comprehensive advertising strategy that outlines:
Target Audience: Identify the demographics of your tenants and visitors. This will guide you in selecting suitable advertisers.
Ad Formats: Decide on the types of advertisements you will accept (e.g., static images, videos, promotions).
Pricing Structure: Establish a pricing model based on ad duration, frequency, and placement. Consider offering package deals for longer commitments.
Develop clear policies and guidelines to ensure that all advertisements align with your property’s brand and values. Consider the following:
Content Standards: Outline acceptable content, including prohibitions on controversial or inappropriate ads.
Approval Process: Set up a process for reviewing and approving advertisements to maintain quality and relevance.
Duration and Rotation: Define how long each advertisement will run and how frequently they will rotate.
Identify and approach potential advertisers who would benefit from exposure to your audience. Good candidates include:
Restaurants and Cafés: Promote local dining options to tenants and visitors, especially if they offer takeout or catering.
Fitness Centers: Gyms and wellness centers can attract individuals looking to maintain a healthy lifestyle.
Real Estate Agents: Local agents can showcase listings, open houses, or special promotions.
Financial Advisors: Financial services can offer workshops or seminars relevant to your tenant demographic.
Boutiques and Shops: Local retailers can advertise seasonal sales or new arrivals to attract foot traffic.
Furniture, Decor and Office Supply Stores: These businesses can promote DIY workshops or special deals, particularly if your building attracts remote workers and shared office users.
Medical Practices: Doctors, dentists, and wellness providers can promote services or community health events.
Spas and Salons: Beauty services can attract tenants looking for relaxation or self-care options.
Once you have developed your advertising program, promote it through various channels:
Email Marketing: Send targeted emails to local businesses to introduce the advertising opportunity.
Networking Events: Attend local business events and present your digital signage as a promotional platform.
Social Media: Use your property’s social media channels to highlight the benefits of advertising on your kiosks.
Once your advertising program is up and running, continuously monitor its performance:
Track Engagement: Use analytics to assess how well advertisements are performing. Metrics such as impressions and engagement rates can help gauge effectiveness.
Solicit Feedback: Regularly check in with advertisers to gather feedback on their experience and effectiveness.
Adjust Strategies: Based on data and feedback, adjust pricing, formats, or promotional strategies to enhance revenue and advertiser satisfaction.
By leveraging digital signage kiosks for advertising, commercial property management companies can create a lucrative revenue stream while supporting local businesses. With a well-structured program that prioritizes quality and relevance, property managers can enhance the value of their properties and foster a vibrant community atmosphere. This strategic approach not only benefits the bottom line but also enriches the experience for tenants and visitors alike.
Explore itouchinc.com for more information on our solutions or contact us for needs unique to your property or project.
