Company News

Why Your Building Should Tell a Story

by Michelle N. on 4/11/2017 3:59:00 PM

Marketing advice is rarely so singularly unhelpful as when it speaks in aspirational vagaries. In the property management world, “your building has to tell a story” is a common refrain. The thing is, this is actually good advice that is just packaged in an almost deliberately confusing way.

Let’s unpack it.

How can a building tell a story?

We aren’t talking Romeo & Juliette. The story that a building should tell is more like an elevator pitch. It should answer questions like, “what are the key advantages of the space?” or “what businesses is the building tailored to serve?” or even “what sort of employees would be happy working here?”

Having a strong story for your building can help prospective tenants to put the amenities and location of a building in context. This goes a long way toward helping themselves to imagine their business in the space and picture the relationship that they would have with the building. It may also help units in the building to command a higher price if prospective tenants place a premium on the features being highlighted.

For example, a building that is LEED-certified may appeal to tenants who understand the U.S. Green Building Council’s LEED rating system and place a value on it, but many will simply pass it by. However, by giving feature placement in your building’s marketing materials to several of the elements that are involved in LEED-certification and possibly making a few other small changes, a building can be marketed as a “green space.” Most renters have no problem understanding the merits of a green space and those that place a premium on these features may be willing to pay a premium for them.

The story that your building tells should be specific to its advantages and features, and as such, there are almost infinite stories a building could tell. Here are a few common stories that you may want to consider.

Read more here.