A Proactive, Actionable Marketing Plan

Group #1 1

A PROACTIVE, ACTIONABLE MARKETING PLAN:

Marketing 6890: Marketing Challenge

Spring 2011

Group #1:

Kimberly Tucker

Deo Sanders

Travis Goldfein

Robert Montalvan

In today’s society, marketing is constantly changing and evolving due to technological and cultural advances. Particularly with the internet, the way people communicate has changed drastically. This has lead to a change in the way businesses market products, people, and ideas.

Our plan utilizes these technological advances, which altered how businesses are marketing:

–Attend conventions

–Use of brochures

–Google advertising

–E-marketing campaign

What we did: we meet every week with our group and with Dr. Festervand; we came up with an action plan that included area research and a SWOT analysis; we compared and contrasted Murfreesboro with its competitors, as well as their needs; and we ultimately found the biggest problem was that we needed to find the medium to reach potential clients.

How we conducted our research: established understanding of current marketing strategies and ways to improve or enhance those practices; conducted personal interviews with Angie, the Marketing Director of MTMC; conducted expansive research on current trends with how commercial real-estate companies market themselves; educated ourselves on how technology has advanced and changed the face of marketing; conducted a conference call with Holly Sears and other members of the Chamber of Commerce in order to educate ourselves on successful strategies to market Murfreesboro; meet with MTSU faculty and local thought leaders to brainstorm best practices.

After analyzing our options, we came up with three concrete, realistic marketing solutions: conventions, Google advertising, e-marketing. We chose these solutions because they are realistic, applicable, have a proven track record, and are inexpensive. We are confident that if you put these solutions into action you will maximize your business potential and be able to proactively gain clients.

TABLE OF CONTENTS:

PART 1: What is the plan? ………………...………………………………………………….. 3

Our Research…………………………………………………………………………… 4

PART 2: How do you put the plan into action? ……………………………………………… 5

The Online Marketing Campaign………………………………………………… 6
Google Advertising………………………………………………………………… 10
Conferences……………………………………………………………………...… 11
The Brochure….…………………………………………………………………… 12
The Job Application……………………………………………………………...... 14
The Email and Mail Campaign Document……….…………………………….... 16

PART 3: Who do you contact? …………………………………………………………….… 20

List of Target Markets………………………………………………………………… 21

APPENDIX A: Nashville and Vanderbilt Prospecting…………………………………...… 22

APPENDIX B: Murfreesboro/Medical Center Parkway Prospecting…………………….. 26

APPENDIX C: Interview with Angie, MTMC Marketing Director……………………..… 30

APPENDIX D: Conference Call with Holly Sears………………………………………...… 31

PART 1: WHAT IS THE PLAN?

Conduct a situational and market analysis:
Research demographics
Complete a SWOT analysis
Identify needs and how you can best meet those needs

Example: Healthcare is the most prominent industry on Medical Center, so we have decided to focus on the Healthcare market in Murfreesboro, TN on Medical Center Parkway. Thus, we conducted a healthcare industry analysis with a focus on the Nashville and Vanderbilt areas (please refer to Appendix A).We also completed a situation and market analysis of Medical Center Parkway (please refer to Appendix B). We also conducted a SWOT analysis of StoneGate Commercial:

Strengths / Weaknesses
Good properties
Excellent locations
Thorough land inspection
Good land planning
Billboards are well-placed
Attends conventions
Developers come to him / Absolutely no marketing practices
Opportunities / Threats
A clean slate to develop good marketing strategies
Changing marketing strategies and technology / The commercial real estate market has turned severe because of the ECONOMY
Changing marketing strategies and technology

After the SWOT analysis, find a way to maximize strengths, turn weaknesses into strengths, convert opportunities into strengths, and combat all threats.

Example:Strengths – Primary care hospital, nice retail stores, premium restaurants, new hotel accommodations. Weaknesses – Lack of premium/specialized healthcare. Opportunities – Improve the hospital, have corporate offices, more healthcare employees could lead to housing developments/apartment complexes. Threats – Nashville and Vanderbilt health centers, Nashville Commercial real estate companies, Smyrna Stone crest medical center.

Compare and contrast which companies would fit into the area’s theme, and would be successful:

Example: Interview/ask medical professionals why people often travel to Vanderbilt and what things are needed in this area (please refer to Appendix C).

Reach potential clients through ???????? MEDIUMS ????????

PART 2: HOW DO YOU PUT THE PLAN INTO ACTION?

Online Marketing Campaign:

Marketing has pretty much been around forever in one form or another. However, the methods of marketing have changed and improved, and we’ve become a lot more efficient at telling our stories and getting our marketing messages out there. E-Marketing is the product of the meeting between modern communication technologies and the age-old marketing principles that humans have always applied.Very simply put, E-Marketing refers to the application of marketing principles and techniques via electronic media, i.e. the internet. Essentially, E-Marketing is the process of marketing a brand using the Internet.

There are 8 types of internet marketing that are most often used and, of course, lead to success:

–SEO- (Search Engine Optimization) A basic and good way to increase traffic. When your site is optimized, the chances are more that Google indexes your site quickly and gives a high ranking to your site.

–PPC – (Pay per Click) Allows you to create ads in Google or yahoo. With more ads created and linked to keywords, viewers who are interested in that topic will visit your site, hence you get the traffic. And since it is paid service, the more you pay for each click, the higher in the search engines your ads will appear.

–Banner ads- Another type of ads which use diagram with pictures and texts, they usually appear on the top or bottom of the web page.

–Google AdSense- Google AdSense is a program that allows you to put ads online, and when the ads are clicked, you will make money. Besides making money, you get traffic also.

–Online Magazines –You buy ad space for promoting, and like the banner ads, when the magazine generates traffic, you will pay according to the traffic.

–E-commerce newsletters- Allow us to develop relationships with our clients and let them know when we invent something they may be interested in.

–Online Directories – Those online directories and city guide yellow pages can be effective places to promote your site.

–Website Lead Generation – It is a program that provides you with qualified leads and then you pay for each lead. Lead generation guarantees a return on investment and is a quite safe way with little risk.

Components of a good E-Marketing campaign:

Search Engine Optimization

Email Marketing Strategy

Online Advertising

Online Newsletters

Proactive E-Marketing solutions:

The following is an example of an E-Marketing solution: Quickspace

The corporate studio allows a commercial real estate company to create a specialized Promo-Pak (website) that includes a flash website, PDF brochure, Windows EXE file as well as the ability to add file attachments.

When creating a Promo-Pak, the user will choose a template, fill it out and launch it live.

The Promo-Pak will deliver a unique URL address which will give your clients a stylish corporate branded website to view and see available land

The Promo-Pak will allow you to track in real time how many people have opened your email to look at your specialized information

The corporate studio allows for an unlimited amount of Promo-Pak’s to be created and distributed. Pricing is based on the number of brokers that can be listed as contacts within any Promo-Pak.

This allows customers to review every detail of your listing via an easy to navigate web marketing package. The web marketing package will allow users to

Interactive plans linking to detailed data
Maps that can easily displays layers of information
Have photo galleries that captivate your audience

How much: Typically property websites start at $1,500. Each project is unique and its project requirements are based on the provided materials, budget and schedule.

A designer will consult with you on your specific needs and provide a story board and detailed proposal for your project.

Investment Sales Deal Flow Management

ALL IN ONE - Listing Center, File Collaboration, & Deal Tracking

Listing Collab is the most efficient way of showcasing your assets and securely sharing your due diligence files between attorneys, owners, brokers, partners, and lenders

Available 24/7 online, Listing Collab allows approved members instant access to all underwriting and due diligence materials relevant to your properties.

Benefits

Use it for ALL your investment sales listings at ONE PRICE for an entire year
Accelerate the distribution of both marketing and due diligence documents
Maintain complete control of your investment deals 24/7
Streamline transaction deal flow to make the process simple for both you and your customer
Intuitive dashboard to manage your listings efficiently
Branded with your corporate identity to maintain consistency throughout the entire deal flow

The ultimate goal is to be proactive about finding clients

Google Advertising

Google Webmaster Tools and Analytics:

When we utilize a search engine, the engine uses three ways to identify the best way to find the most useful information. They are: Crawling - Does Google know about your site?; Indexing – Can Google index your site?; Serving – Does the site have good and useful content that is relevant to the user’s search?

The Benefits:

15 Reasons why you should use Google webmaster tools:

Top 3: XML Sitemap Submission, Key Diagnostic Data about your Site, and Set a Geographic Target area and track progress

How to Begin:

Pricing:

It is FREE

Potential Benefits for Stonegate:

Cost containment; Ease of use; Proven track record; Google’s popularity and high traffic ensures maximum potential clients who perform web-based searches

Conferences at which to be an exhibiter:

*The Booth: visual aids, examples of what has been done, scenic plans, aerial photos, brochures, and an analysis and information about the area/city and the properties

*National Automoblie Dealers Association

*National Restaurant Association:

Restaurant Leadership Conferences

Restaurant Industry Conferences

Restaurant Finance and Development Conferences

*Healthcare Conferences

*Grocery Manufacturers Association

*Hospitality Conferences

*National Apartment Association

The brochure:

The job application:

Project Manager – Marketing Development
Company / Stone Gate Realty.
Department / Land Development
Location / TN - Murfreesboro
JOB DESCRIPTION:
The successful candidate will:
•Have established relationships with local and regional agencies and that support annual general site development engineering and planning sales of $1,000,000 or more
•Participate in client-rich organizations and functions
•Manage projects and clients profitably, producing and delivering a quality product for our clients at a fair price
•Assist in expanding our client base and geographic reach
•Communicate well with clients, staff and management
•Understand public sector and private sector processes, current market forces, environmental conditions / constraints and political processes required to maximize our client’s needs
JOB REQUIREMENTS:
Knowledge of:

History on Murfreesboro’s economic development
Civil Engineering
Landscape Architecture
Urban Design

Professional registration required: Professional Engineer, Registered Architect or Registered Planner in the State of Tennessee or the ability to obtain registration within six (6) months of hire.
5 Years Project Management Experience, including: Established Client Relationships; Marketing and Business Development Skills; Ability to Manage Project Schedules and Budgets
Established relationships with local/regional agencies required; Overview knowledge of AutoCad and Microstation programs desirable; Working knowledge of Excel, Word and Outlook required

Commercial real estate is research and analysis driven

Since millions of dollars is at stake with each client, the competition is fierce between agencies

A typical commercial real estate agent has a college degree, a sales background, extensive knowledge of finance and a real estate license (typically the same one as a residential real estate agent). There are two types of commercial real estate associates: those who represent tenants and those who represent landlords

The emailand mail campaign document:(With a Cover Letter)

Murfreesboro: Quality Commercial Land Development

The City of Murfreesboro has always promoted their location of being in the geographic center of Tennessee and the quality of its workforce which is supplemented by graduates in the 24,000 students Middle Tennessee State University. Through the efforts of the City, The Gateway of Murfreesboro, a mixed-use complex of 396 acres was started. Stonegate Commercial is developing an additional 400 acres that is strategically located adjacent to the I-24 interchange and Medical Center Parkway. The Gateway development is located in the City of Murfreesboro and only 30 miles from Nashville, 25 miles to Nashville International Airport.

Development in The Gateway area includes Class A office, medical offices, retail and corporate headquarters. Additional developments that are planned and under construction include medical offices, financial institutions, insurance company offices and the new 286 bed 10 story hospital.

Half a million square feet of existing Class A office space

Plentiful dining and shopping options at the nearby retail center, The Avenue Murfreesboro

100,000 residents and a mobile workforce of 35,000

Embassy Suites and Conference Center, a 10 story, 283 room Embassy Suites Hotel and adjoining 80,000 square foot conference center

One of the top scoring school systems in the state

One of the fastest growing counties in the region

Largest undergraduate university in the state, Middle Tennessee State University

Murfreesboro was named by Money Magazine as on the "Top 100 Places to Live" in 2006 and one of the Best Places to Raise Kids by Business Week in 2008

The Gateway

In 1988 the City of Murfreesboro, needing a new entrance into the City, saw a unique opportunity to form a large overall master plan. This plan, known as The Gateway, addresses a number of public issues and proved for special private development.

The new Middle Tennessee Medical Center will open late in 2010 and there has already been numerous office buildings and medical offices opened in The Gateway.

Stonegate Commercial is involved in opening three phases of development in The Gateway. In Phase I there is The Avenue of Murfreesboro, an 805,000 square foot lifestyle mall offering shopping, dining and entertainment. Also in Phase I there is The Embassy Suites Hotel and Conference Center, along with parcels available for hotels, restaurants and other retail development. Phase II offers parcels for Class A office space and upscale apartment complexes. Phase III offers commercial locations for hospitality and retail.

The Gateway has firmly established Murfreesboro as a regional destination for shopping, dining, entertainment and medical services.

Middle Tennessee Medical Center at the Gateway Murfreesboro

Middle Tennessee Medical Center will complete construction in 2010 on the new state-of-the-art hospital at an approximately cost of $278 million. The 286-bed facility is located on 68 acres in the Gateway along Medical Center Parkway. It will be owned and opperated by Saint Thomas Health Services and Ascension Health.

The Embassy Suites and Conference Center at Murfreesboro, TN

The Embassy Suites Hotel and Conference Center opened in fall of 2008.The facility is one of the largest of its kind in all of Middle Tennessee and features 10 stories with 283 suites and a conference center of 80,000 square feet which is third largest in the market behind only Gaylord Opryland. The property is owned and managed by John Q. Hammons Hotels & Resorts the nation’s leading independent builder, developer, owner and manager of upscale, full-service hotels, resorts and suites.

Embassy Suites Offers Many Ammenities:

EmbassyDirect® kiosks
High-speed internet
Fully-equipped Business Centers
Mp3 clock radio
The Embassy's Business Balance Program keeping you healthy with complimentary cooked-to-order breakfast, state-of-the-art gym, and Serta's new luxurious Suite Dreams mattresses.

The Embassy Suites can plan any event for you whether it's a business conference, a wedding or reception:

Suite accommodations
Meeting Rooms
Food and Beverage
Audio/visual
The Avenue Murfreesboro

Cousins Properties and Faison Enterprises opened the Avenue Murfreesboro, an 810,000 square-foot open-air life style retail center on Medical Center Parkway in the fall of 2007. The Avenue Murfreesboro is the centerpiece of 400 acres of new commercial development envisioned by landowner C. M. Gatton and developed by Stonegate Commercial along Medical Center Parkway. The Avenue contains 110 quality stores including Chico's, Coldwater Creek, Hollister, Best Buy, Dick's Sporting Goods and many others.

Stores at the Avenue or Upcoming Stores

Ann Taylor Loft
Barnes & Noble
Belk
Best Buy
Chico's
Coldwater Creek
Cost Plus World Market
David’s Bridal
Dick's Sporting Goods
Haverty’s
Jos. A. Bank
NY & Company
Off Broadway
Old Navy
Petco
Talbots
White House/Black Market
Ulta

Available Commercial Properties