Real Estate Partnerships- Media Opportunities

One industry that has really taken a toll during these difficult economic times is real estate and not just private homes--commercial real estate has immensely suffered.

Even at Rubik we were looking to move offices and throughout our search for office spaces, we were provided deals left and right to sign now--even 3 months free at one venue. And while we love getting deals, you have to wonder how are they going to be able to be profitable or even just stay afloat over the next 6 months- year.

Just like other industries this is the perfect time to get creative and find new revenues streams. Some buildings are looking to use their assets as media and marketing opportunities namely billboards and pop-up stores.

BILLBOARDS
Billboards seem a little tacky for a building but not these examples. With the right partners and the right strategy your building can become an iconic symbol for marketing opportunities.

If you are thinking about selling the outside of your building here are some things to think about:

• Permits- depending on city laws your building might have certain restrictions as to WHAT can be advertised and how it can be advertised if at all on the sides of your building
• Production Partner- we all have our specialties and most likely you'll have to look to partner with a large format printer or projection specialist (i.e. FireFly LA) in order to fulfill the production needs of a media opportunity
• Advertising Focus- You could use your building as just a running billboard, or more strategically use it to secure exclusives with a certain theme-- this can bring greater PR exposure to the building which in turn can raise awareness and command a premium of the building
• Sales Strategy- Once you set your focus, your building will need to put together its own sales strategy and list of prospects to go after. You may even want to employ an agency like Rubik or a media selling company that specializes in this type of sales process. You still get the majority of the sale and you hire them on retainer plus commission.

POP-UP STORES
Pop-up stores have become a great way for brands to create buzz with an act now, limited time only opportunity for consumers. This temporary marketing tactics for brands and retailers can command a greater per month rate for the venue, but some there are some things to think about:

Reebok Example:

• Term & Rates- while you can command a greater per month rate, it takes a lot more time to try and fill the space month to month, when looking at the per month rate, take this extra time in consideration
• Category Targets- to generate positive PR and ensure that the venue is being used appropriately, the venue should consider what categories it wants to target, or more importantly what categories it wants to restrict
• Event Management Partner- while many brands will come in with their own event management team to execute the event, having a preferred event management team can help you find out where new leads lie (they tend to scout locations and if you are on the preferred list of these event management companies you will be one of the first to be selected) **consider offering them a referral commission deal to sweeten the partnership relationship and ensure more projects will come to your venue
• Sales Strategy- Partnering with event management agencies in and of themselves can be a strong sales strategy, however, also use relationships with brokers, local real estate listings and trade publications (i.e. BizBash) to ensure companies know they can partner with you for their next pop-up store