So who do you sell your virtual tours to: real estate agents and brokers? Who else? No one yet? Well, that’s not a surprise really. Most virtual tour businesses are focused on the residential real estate side of the business. But just think of all the other possibilities…
As BakerB Solutions branched into a totally different market place we discovered that there is a lot more opportunity to make larger dollar (or Euro) deals with other types of tours. Specifically, in Europe, residential real estate is a difficult target market. However, Hospitality, Travel, Shopping and other non-conventional tours are where the money is. The typical 360 virtual tour can range from 500EU to 1000EU (which is around $650 to $1350). But the sales cycle is also much different. In the European market we have had to create “Practice Tours” to “show” our prospective clients what they can expect. The sale is much more of an educational sale on the capability as virtual tours are not as pervasive in that market.
The upside is larger deals that can lead to nice revenue. In fact BakerB Solutions has secured one Q19 shopping mall as a client. We have also secured an Interspar super market. And now we are talking about doing all 14 of the Q19 shopping mall locations and doing all European Interspar grocery stores as the company expands into other countries such as Croatia. The implication is huge! How are we selling this? Well a shopping mall has many stores. And the manager responsible with filling all of the spaces doesn’t always have time to travel to Spain or France to meet with clients. So we can give them the opportunity to present all the spaces available in a virtual tour. We can even change the tour as spaces are consumed or open up, or for Holidays like Christmas, Easter or even Oktoberfest. Each time we redo a spin it only costs 100EU. And that is a lot less expensive than spending hours walking through malls figuring out that a space will not work for a prospective tenant.
Oh…and on a recent trip to Vienna, Austria, I met with a general manager of the Interspar grocery store. We talked about adding their weekly sales flyer to the virtual tour for as little as 35EU per week. This is a simple upload of a PDF to the tour as a “Brochure” link. Although we might need to look into other options there, but the idea is sound. Each mall represents great opportunity for recurring revenue if you think outside the box and how you can help to satisfy a need. And as a side benefit, we recommended that the store put something in their print flyer that directed people to the virtual tour for more information on specials and coupons. After all, it costs money to print and mail, but an online flyer can be as big as you want! So instead of spending $25,000 each week mailing something to 120,000 people, reduce the size of the mailing (not the quantity) and push people to the tour. The side benefit is that everyone will see what we are doing and other businesses start to think about how BakerB Solutions can help them too!
As a result, we have put together an EU site for all of our prospects over seas. If you haven’t been to Europe, you might get a kick out of these tours and maybe even some ideas on how you might be able to bring in some extra deals. Just visit us at www.bakerb.eu and browse our sample tours! And be sure to send us your feedback at firstname.lastname@example.org!
Baker B Solutions