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Importance of Social Media for Real Estate Professionals
- 1. The Importance of Social Media for Real Estate Professionals By Alex Huynh Inzopa.com alex@inzopa.com
- 2. Why do people do business with you?
- 3. TRUST! Character & Competence Trust is a function of…
- 4. What is Social Media? • Social media: refers to the interaction among people in which they create, share and/or exchange information and ideas (in virtual communities and networks) • People can FIND you through social media • ENGAGE and INTERACT with future clients The first documented form of social media was a cave painting.
- 5. Social Media Misconceptions 1. People on social media are young – 18-29yo 90% use social media – 30-49 yo 78% use social media – 50-64 y.o. 65% use social media – 65+ y.o. 46% use social media 4 2. People don’t want to talk biz on social media – “80% of social media users prefer to connect with brands through Facebook” 3 3. You need 1000’s of followers to be effective – Quality > Quantity
- 6. Social Proof is the New Currency • 85% of consumers say that they refer to online reviews before making a purchase at a local business • SproutSocial recently reported that 74% of consumers rely on social networks to guide purchase decisions • The average shopper reads 5 reviews before making a purchase • 92% percent of consumers around the world say they trust earned media, such as word-of-mouth and recommendations 8
- 7. What do people see when they search for YOU?
- 8. Shift in Marketing: PULL not PUSH
- 9. Inbound Marketing Inbound marketing costs 62% less than traditional outbound marketing per lead.
- 10. Build Profiles & Get Reviews
- 11. Setting up Profiles will Exude Confidence • Low risk, minimal time, high reward! • If you can’t manage your online presence, how can you manage your business?
- 12. Get a Personal Website
- 13. What to Put on Your Website • 1. LISTINGS!!! • 2. Area Market Trends and Statistics • 3. Local Government Resources • 4. Maps, Maps and More Maps • 5. Local Utilities and New Resident Information
- 14. Technophobe?
- 15. Some Tools 1. Buffer: social media publishing + analytics 2. Feedly: Content discovery 3. Zapier: Link favorite social services + tools
- 16. Bibliography 1. Haden, Jeff. "8 Powerful Social Media Marketing Tools for Savvy Businesses BY Jeff Haden." Inc.com. Mansuento Ventures, 2 Jan. 2014. Web. 20 Feb. 2014. 2. "The Importance of Social Media for Real Estate Professionals." Social Media For Real Estate Professionals: Facebook and Twitter Real Estate. NAR, n.d. Web. 20 Feb. 2014. 3. White, Meg. "Busting Your Social Media Misconceptions." The Weekly Book Scan. NAR, n.d. Web.20 Feb. 2014. 4. "Social Networking Fact Sheet." Pew Research Centers Internet American Life Project RSS. N.p., n.d. Web. 18 Feb. 2014. 5. Anderson, Myles. "Column: Local Search Column." Search Engine Land. N.p., 26 June 2013. Web. 21 Feb. 2014. 6. "Inbound Methodology." What Is Inbound Marketing? N.p., n.d. Web. 22 Feb. 2014. 7. "Real-World Education for Modern Marketers." MarketingProfs. N.p., n.d. Web. 23 Feb. 2014. 8. "Social Proof: The New Currency of Credibility." RSS. N.p., 15 Nov. 2013. Web. 23 Feb. 2014.
Editor's Notes
- My name is Alex Huynh. I was born and raised in the Bay Area. I am one of the founding members of a startup called Inzopa and today’s topic is ….I want to preface my presentation by saying that I am by no means a social media expert. I do understand it pretty well, and I did leverage it to get several paying clients when I was in financial services. My goal today is to hopefully convince you to start putting energy into your social media and other online efforts, because I think we all know things are changing. And do not worry. The presentation is not as boring as the title page. That’s the only promise I can make.So let’s begin.
- TRUST. No trust = no business.Trust is the common denominator in every business transaction out there.
- When I was in financial services I did a lot of research on TRUST because I wanted people to trust me and I was worried people wouldn’t because I was so young. I came to discover that trust is a function of character and competence.You must have both to win people’s business.So, I’m sure you all know Rob right? He’s a great guy, lots of integrity, high in character but would you trust him to do fix your cavity?If you are highly competent in your industry, and know everything about your area but there are questions about your character or integrity. Then nobody is going to do business with you, because there’s simply too many other people they can go with. Even before getting into the industry, I knew about 20 realtors and I knew about 6 of them really well.Social media can add credibility to both your character and competence.You can demonstrate competence.So were going to talk today about how social media can help gain people’s trust.
- The first documented form of social media was a cave painting.
- http://www.pewinternet.org/fact-sheets/social-networking-fact-sheet/How many of you use social media? How many of you use social media for your business? How many of you use social media but don’t use it for your business? Being that you are your business, anytime you use social media it is directly reflects your business.You want people that trust you.Social media is being widely used. It helps people understand who you are, how you help people and what you stand for.
- People care about what other people think. Ninety-two percent of consumers around the world say they trust earned media, such as word-of-mouth and recommendations from friends and family.http://searchengineland.com/2013-study-79-of-consumers-trust-online-reviews-as-much-as-personal-recommendations-164565
- So, the questions is… what do people see when they search for you on the interweb? What do people find when they google your name? Hopefully they can at least verify that you are a real estate agent or a loan officer or a developer.Part of my job is to call Realtors and ask them if they want to try out our service.And when I don’t find anything about them, I wonder who they are… are they hiding something? Are they just so amazing at their job that they don’t need a web presence? I have no idea, but I worry about bringing them to my website because they’re not open to sharing about themselves.One of the best ways to inspire trust is to be open. It’s just human nature. Oxytocin is the chemical in your brain that helps you determine if you trust somebody or not. And if you think about the people you trust most, its usually the people that are open.
- There’s been a huge shift in marketing the past few years. Companies have gone from Outbound marketing to Inbound marketingPeople are in control of what information they receive and how they receive it.200 million americans have registered for DNC List84% of 25-34 year olds have left a favorite website because of intrusive/irrelevant advertising86% of people skip television ads44% of direct mail is never openedCONTENT is KING. Big companies are finally realizing that they need to educate people and deliver value before they start selling.
- Inbound marketing is a marketing strategy that focuses on getting found by customers.Inbound marketers earn their way in, in contrast to outbound marketers who “buy, beg or bug their way in.”Inbound marketing costs 62% less than traditional outbound marketing.
- Low commitment; high effectiveness. That to me is time well spent. A 2012 Nielsen survey indicated that 92% of people globally trust word-of-mouth recommendations from friends and family.What’s not on the last slide to attract strangers is setting up profiles like Yelp, Linkedin, Trulia, etc.
- It’s just a questions – I’m not saying its true.
- Get a personal website. Start posting articles that link to your website. Deliver value. Write blog posts. Sync your social media.If you’re a realtor or a lender, you should be reading up on the industry any ways. I would also hope that you enjoy what you do, so it can’t be too hard to let people know that and show them you’re on top of things.Localize the information so people can find you.
- After people find you via social media, they’ll want to find out who you are and go to your website. This is where you can engage them and demonstrate your local expertise. http://realestate.about.com/od/realestatewebsites/tp/topsitecontent.htm2. Area Market Trends and StatisticsIndividual MLS rules will dictate what you can display on a real estate web site as far as sold statistics. You may only be able to place gross annual stats. However, most will allow you to provide these statistics to potential clients who make a request for them.This is also a great way to capture prospect email addresses. Do some surface and long-term statistical graph representations on the site, and then offer a form for them to request more detailed reports. You'll find this quite popular with both buyers and sellers, and you'll expand your prospect list quickly.3. Local Government ResourcesProvide pages with brief descriptions and links to city, county, state and federal government offices in the area. The descriptions help the visitor to determine which link they need to visit and help the search engines to rank your page properly.4. Maps, Maps and More MapsDon't assume that your site visitors are from the area or have even been there. Provide maps that help them to figure out where property listings are located, especially when your MLS uses neighborhood or subdivision names as area field identifiers. There are now many free interactive mapping services on the web that you can integrate into your site. In vacation or resort areas, this is one of the most popular site features, as almost none of the buyers are local.5. Local Utilities and New Resident InformationDon't think that this information is not helpful because they're already moving and not a potential client. Many buyers move into rental units while they search for a home to purchase. If your site helped them to get their utilities set up in the move, you're a leg up with the competition to help them with their home search. Another less obvious value to this page is in saving you time with clients. It's really easy in your closing process with buyers to send them a link to the page on your site with who to contact for electricity, phone, gas, etc.
- Technology gets easier the more you use it and we all know the world is shifting that way, so you might as well start learning it.
- Buffer: Social media publishing plus powerful analytics. Buffer is a powerful social media tool (here are some tips for getting more out of your tweets) that sends your updates to Twitter, Facebook, LinkedIn, Google+ and App.net. It also has built-in analytics to help you understand why certain posts are working well, and the best times to publish updates based on your audience. Plus you can collaborate with your team to keep your accounts topped up with fresh content.