Case Study
The advent of VTS Market enables brokers and prospects to do the first leg of that search from their desks and then go on the in-person tour with a bit more qualified interest.
Jeff Buslik, Executive Managing Director
Adams & Company
BY ASSET TYPE
Office
PORTFOLIO SIZE
7M SF
REGIONS
NYC
Founded in 1920, Adams & Company is a full-service real estate firm providing property management, brokerage, and consulting services. The century-old firm manages 35 properties and 7 million square feet of space in New York City, specifically the Midtown South submarket. When COVID-19 hit in 2020, Adams & Company pivoted their strategy to include digital marketing efforts to ensure their available spaces would continue to be seen and toured in a remote environment. Adams & Company also looked for a partner who could help drive qualified traffic to their virtual spaces — capturing tenant demand in the down market — and turned to VTS for help.
Since implementing VTS Market, 98% of their available spaces receive high-quality engagement that translates into qualified interest and in-person tours.
CHALLENGES & ROADBLOCKS
Lack of high-quality, virtual marketing content
Before VTS Market, not every space in Adams & Company’s portfolio was represented with high-quality, engaging marketing content, which sometimes prevented tenant reps and tenants from moving forward with an in-person tour. For instance, some spaces had floorplans, a few had photos, and even fewer had virtual tours. And the content that was available lacked a consistent look and feel that was representative of the company brand.
Limited insight into marketing performance
Adams & Company relied on their brokers to share updates on listing performance, with the insights being mostly anecdotal. Without real-time, data-driven insights, Adams & Company couldn’t understand how marketing content was being distributed, who was seeing it, or how it was contributing to in-person tours. This limited insight into marketing performance left them unable to proactively pivot their efforts if a strategy wasn’t working.
No central place to manage marketing content
Without a single place to store marketing collateral, the team spent a lot of time tracking down and compiling content when listing a new availability. And once the content was found, there was no guarantee it was still accurate or provided tenant reps and tenants with the information they needed to make an informed decision. The extra time spent locating and updating content often caused delays when bringing a new space to market, a process that already takes the typical landlord 45 days on average.
SOLUTION
High-quality online marketing content across their entire portfolio
With VTS Market, 100% of Adams & Company’s listings now have premium digital marketing content that shows tenant reps and tenants exactly what they need to know in order to move forward in the process. This includes virtual tours, photos, 3D space renderings, digital floor plans, and landlord-verified information for each space — all produced by the VTS team. As a result, 98% of Adams & Company’s available spaces have been interacted with, helping to drive qualified inquiries and in-person tours in a down market.
Real-time insight into marketing performance
With VTS Market, Adams & Company captures qualified tenant interest daily that converts to in-person tours using interactive online listings. They now have a single source of truth for real-time marketing performance by channel to ensure they’re optimizing activities and course-correcting strategies as needed. From their analytics dashboard, team members can instantly see how many times a space has been shared, a video has been played, or a photo has been viewed. And by using UTM parameters to track where content is being shared, they can tie specific activities to resulting engagement to understand which channels are performing the best.
Go-to-market speed
After just six months on VTS Market, Adams & Company now brings available spaces to market 5 weeks faster than the industry average. This gets their spaces in front of tenant reps and tenants quicker, giving them a competitive advantage in the market. By centralizing all their marketing collateral and space information in a single platform, teams no longer spend time locating what they need and can instead focus on each space’s unique marketing strategy. In addition, the company’s executives can easily access and review new availabilities. Once approved, a new listing can be published to the VTS Marketplace in just a few clicks.
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