Los Angeles Recent research by Borrell Associates has found that the retail real estate industry is committing an increasing number of dollars to online marketing.
Online commitments reached an all-time high in 2008, according to the research findings, both in dollar terms and as a share of overall marketing budgets. More specifically, Borrell found that 48% of commercial property marketing spending last year was allocated online, including to e-mail marketing and property-related Web sites.
Borrell also found that online spending is expected to rise 17% in 2009, as the industry continues to move its marketing online.
Mike Manning, VP marketing for Los Angeles-based LoopNet, said online property marketing is growing for three reasons: It’s cost-effective, it delivers national and international reach, it’s environmentally friendly and more practical.