Offering Memorandum Templates: What you need to know
With more than 1,000 OM designs under our belts, we have learned a thing or two on what makes them successful. So much so, that we have recently decided to create and offer a free offering memorandum template for our network to customize and enjoy.
“One of the most recurring types of feedback we received from our (new and old!) clients is how personalized and strategic our approach to their specific needs is. We understand that not all properties are supposed to be marketed the same way, and that not all firms will benefit from the same type of design,” shared our CEO and Founder, Chelsea Brown.
It may seem basic and obvious, but not all brokers will want the same thing, and our experience has really helped us narrow down the audit process as well as the questions we need to ask a new client to understand their needs.
While we have already written about the ten essentials of an offering memorandum, today we want to discuss what makes a new design template for an offering memorandum, great! Here are our top 3 recommendations for a brand looking to update an existing OM design or even create something brand new.
#1 Identify What Works
Starting a new design process, or even updating an existing one, can be intimidating. It is something we see very often when meeting with any of our clients nationwide. As soon as you are able to leave that behind, the true work begins. Updating your marketing collateral is something YOU NEED TO DO. It is how you keep your brand updated and how you offer your properties the best chance at selling.
That being said, let’s not reinvent the wheel here. The first place we like to start a revamp or a new design is talking about what works: what makes your brokerage firm, or you as a broker, unique? An existing template may have a solid layout, or a company may have a logo that lends itself to an engaging complimentary color palette. A broker may pride themselves on their trajectory and testimonials; so lets make sure that is included in the marketing material.
Identifying any component that works is a great starting point. To that effect, identifying something that can be improved works equally as well. Let’s say you have a working offering memorandum template, but we identify some gaps in the content or layout. We are here to compliment and fix that.
Additionally, let’s say you have not changed your offering memorandum in 12 years, we know exactly what type of resistance and concerns our broker will have to updating that. Understanding these factors are so important when it comes to auditing existing marketing materials and offering an update.
So ask yourself what works? Is it your team? Is it your numbers? Let’s highlight the good and update the elements that can be doing your brand more favors.
#2 Trust the Process
Any of our clients can attest to the fact that our discovery and onboarding process is seamless and painless. After that first initial call, we have very specific questions for you, and all we need is an address and a high-resolution logo to get started. You will receive a working first draft within 48 business hours.
That working first draft is where the heavy lifting takes place. It is so important for us that our clients get a visualization of our concept for them. With this working draft, our client is able to mark up any edits or questions they may have. One of the best parts about this process is allowing the client to view a design or concept they may not have initially considered.
This process becomes as simple or as drawn out as the client prefers and requires. By the end of it, we are able to reuse this finalized template for any work moving forward. Check out our gallery for a portfolio of finished work.
#3 Be Consistent
As we mentioned on the number above, the heavy lifting really comes from the initial design process. Once a design is finished, it is easy (and encouraged) to use the same design template for all your properties moving forward. Additionally, the main benefit of these design revamps is that they can be used for all aspects of the company communication. Most commonly, our clients use these in social media, email or newsletters. We are also diligent about using these templates for proposals, quarterly reviews or BOVS.
The most obvious reason why brand consistency is so important is that it leads to brand recognition. Any brand, no matter the size of your firm, should always prioritize consistency. To be immediately recognizable by your target audience is the goal. You could say brand consistency is marketing at a higher level. By being consistent in your messaging you can set your brand apart from your competitors, which is especially valuable in a highly competitive and saturated market.
Did we miss any key components in templated work? What has been your experience working with a template? Let’s connect with any questions you may have!