2010 March | CPE Blog

Real Tech with Peter Boritz: Building an Online Presence for your Business

Business Management, New York City, Technology, Web/Tech No Responses »

Mar 292010

Creating an “Online Presence” for your business means more than simply having a company website. In today’s information-hungry world, your business should have multiple means to get messages to new and prospective clients, as well as industry-related news and articles to show that you are staying on top of the industry.

As the market begins to thaw, now is a great time to review your company’s online strategies and, if necessary, make improvements. Here are five tips to help get you on the way to building an online presence for your business.

(For more on how to Build Your Business Online Presence, see Peter’s video on CPE TV)

Step 1: Define goals and modify your company’s website to support your goals

Create goals that include ways to differentiate your business from your competitors and focus on capturing leads.
Keep in mind that your company website should be concise and to the point with a homepage which answers what your company does and why customers trust your business.
Create a “Contact” page which clearly explains to customers how to get in touch with your business. Remember, your website serves as the hub for your business, be sure to include all of your other web efforts, such as blogs, on your contact page.

Step 2: Create a company blog

Maintaining a company blog shows new and existing clients you are an expert in the industry and as such you are current on topics and issues which may arise.
Use your blog to provide opinions about the market, be a voice of the company and stay in contact with new and existing clients. Blogging serves as a great way to get repeat visitors to your website and can create a sense of trust in your business making new clients more likely to utilize your services.
Check out some of the free blog sites such as Blogger, WordPress or TypePad to start your blog and be sure to provide a link it to your website and let your clients know about your blogging efforts.

Step 3: Email marketing

Email marketing techniques are a simple and fast way to build leads from your website visitors. Provide an email signup on your website to allow visitors to join your company email list.
Create email marketing initiatives such as newsletters, client announcements and upcoming company events which can be sent to those on your list.

Step 4: Use Social Media

Social networks such as Facebook and Twitter are perfect resources for connecting with your clients and other professionals in your industry. With an effective website and blog in place, the addition of a Facebook Fan Page and Twitter campaign will help turn one-time visitors into connected consumers who are able to receive updates, links and other information about your company.
Utilize social networking to improve your company’s SEO.

Step 5: Online Video
Online videos give you the ability to demonstrate your products or services to prospective and existing customers rather than tell them about it. Some things to keep in mind:
•   Keep your video between 30 seconds and 2 minutes long
•   Be sure voiceovers are understandable
•   If you place music in the video, make sure it isn’t overpowering
•   Always remember to keep your message simple and to the point
•   Embed your video on your company website and add a “share this” button for others to easily send to their social networks

Banks, CMBS and Life Companies – Different Regulators = Different Approaches When Addressing Work-outs

Economy, Finance, Uncategorized 1 Response »

Mar 292010

It seems like we enjoy clichés each cycle to try and generalize the norm. For example, if “extend and pretend” applies to banks and “amend to the end” applies to CMBS then “unwilling to bend” may be the next catch phrase to describe life companies when it comes to work-outs and maturity extensions.

Why the lack of flexibility? The lack of flexibility on behalf of some life companies could rest with their MEAF.

MEAF – Mortgage Experience Adjustment Factor
The purpose of MEAF is to help calculate the appropriate amount of capital an insurer should hold (think cash reserves) based on the composition of the insurer’s commercial mortgage portfolio (think portfolio performance).

How MEAF may influence a life company at extension time or at loan modification request: I’ve spoken to some my life company contacts about MEAF. They report that when it comes to MEAF their portfolios are measured against their peers (all other life companies) and even one or two defaults can have a negative impact on their standing against their peers resulting in an increase in their reserves. So consider the state of the commercial mortgage market. CMBS and banks are experiencing massive defaults but insurance companies, who as a whole were markedly less aggressive during the credit boom, have experienced far fewer defaults. However, since their mortgage experience (the insurance companies) is measured against their peers alone, a couple of work-outs/defaults can cause them to have to increase their Risk Based Capital significantly.

One insurer tells me they would rather foreclose and sell the asset versus restructuring it and have it negatively affect their MEAF until the loan pays off in a few years. With foreclosure they get rid of the loan, sell the property and the problem is solved. I’ve witnessed this firsthand with a number of borrowers whose loans matured in the past 12 months. One particular life company asked for a cash infusion and personal guaranty. When the borrower was unable to provide the necessary capital infusion the life company requested that a receiver be put in place and began foreclosure proceedings.

In another instance, a borrower had a Class-A multifamily loan maturing. The borrower was unable to secure a new loan to take out the life company and was reluctant to sell in the soft market. The life company sighted MEAF as a motivating factor to foreclose and resell the property versus modifying it and living with a negative mark against their portfolio performance during the duration the loan continued to be on their books. They made it clear that it affects their entire portfolio rating to have a problem loan. Once they rework the loan it hangs over them until it eventually pays off. Understand that a below normal MEAF can lead to increased reserves against an insurance company’s entire mortgage portfolio. Considering this, one can see the reluctance on behalf of the insurers to offer any extensions or modifications without right sizing the loan.

James DuMars

Managing Director

NorthMarq Capital Phoenix Office

(602) 508-2206 Direct

(602) 714-4202 Cell

jdumars@northmarq.com

www.northmarq.com

Miami’s Growth in the Face of Adversity

Miami No Responses »

Mar 232010

Despite widespread volatility in retail markets across the United State, Downtown Miami is experiencing continued growth in the commercial and residential sectors, which is serving to drive new retail business openings throughout the area. In fact, recent research conducted by the Miami Downtown Development Authority (DDA) found that 42 new net retail businesses opened in Downtown Miami in 2009, marking the third straight year that the district has seen 40 or more new net retail outlets open. In total, 152 new retailers have established a Downtown Miami presence since 2005. Added to that, we are already tracking over 20 businesses slated to open during the first part of 2010.

The news of Downtown Miami’s retail growth comes as other markets across America continue to struggle. A recent Integra Realty Resources survey of the 50-largest markets in the U.S. found that Downtown Miami’s retail vacancy rate of 5.06% is among the five lowest in the nation. These numbers mark a dramatic spike in retail demand over the past 18 months; Downtown Miami’s overall vacancy rate climbed as high as 12.5% in mid-2008, according to CoStar Group.

It’s clear that retail activity in Downtown Miami is bucking the national trend, but according to real estate professionals familiar with this market, this growth comes as no surprise. The DDA’s recently published Residential & Demographic Profile estimates that close to 70,000 people are currently living in Downtown Miami, up from the 2000 Census figure of 39,176, marking an 80% increase in less than a decade. Projections indicate the population will increase to 85,000 by 2014. This influx of new residents are drawn to our waterfront location, entertainment and cultural offerings, affordable sales and rental options, and strong commercial base – and are populating our City streets and fueling the local economy. As a result, retail business owners are capitalizing on this trend by offering new goods, services and entertainment options.

In one of the most challenging economic conditions in recent history, Downtown Miami still managed to attract a record-breaking number of key businesses that are enhancing the quality of life for residents and visitors and transforming the district into a 24-7 urban center. And to ensure that Downtown Miami continues to solidify its standing as a destination for residents and visitors, the Miami DDA has a number of economic development and quality of life initiatives underway. Through its Retail Advisory Group, the DDA works closely with brokers, tenant representatives, and property owners to encourage retailers to relocate and/or expand within the district. For example, its façade improvement and shutter removal incentives, and tenant improvement grant program, assists businesses in targeted areas of Downtown to help improve the retail environment.

As a public agency, it is our role to help foster a climate that encourages continued investment in our region. The more we can do to make our City’s streets cleaner, safer, and easier to navigate, the better positioned we will be to cultivate private enterprise – leading to more job creation and economic growth.

Alyce Robertson is executive director of the Miami Downtown Development Authority.

Retailers re-energize in 2010

Global Green Design, Uncategorized No Responses »

Mar 032010

For those strong national and international brands that leaned out their operations, shifted merchandising to address new consumer attitudes (demanding both value and luxury), and for those who held back expansion and renovation plans during the steep slide of the past 18 months, 2010 is looking brighter.

In working with leaders of brands across fashion, food, and service retail, I hear some common themes. Survivors feel stronger and fitter than they did going into the recession, and more confident about their ability to change and move into the future. They are more in tune and focused on the behavior and psyche of their customers. They have adopted new technologies for more streamlined operations, and are focusing investment on enhanced customer experience and competitive advantage.

15th Avenue Coffee & Tea - Starbucks local coffee shop concept

Store numbers and size are down – and look for this to be a long term trend. Retailers are expecting higher productivity for every store, and will move quickly to close an underperforming location. Larger stores are looking at smaller formats, small stores are looking at densifying offerings. All retailers are integrating online shopping with in-store experience – it’s not one or the other, it’s both, and they are seeking the best integration strategies in providing all options, seamlessly, in responding to new customer expectations.

Anthropologie - localized design, multilayered merchandising concepts

The bar has lowered on barriers to sale – if a customer doesn’t believe in the value of offering, if they are inconvenienced, if the offering doesn’t fit their requirements precisely, they are willing to wait – or find it elsewhere. Loyalty is down, and customer loyalty programs are being enriched to compensate.

The challenges over the past year have strengthened those that are willing to respond without hesitation, for those that understand that today and the future require continual adaptation, for those that take on these challenges as opportunities to grow stronger.