People are likely to tell everyone they know about a bad experience with a business, and they’re usually thrilled to pass on information about good experiences, too. And that’s what word-of-mouth marketing is all about.
The home buying and selling processes are ones in which you become intimately familiar with your clients, and vice versa. This is a prime opportunity to get these clients to spread the word about your services.
Millennials have become the largest share of homebuyers. According to the National Association of Realtors (NAR) research department, as of 2018, millennials are 36 percent of homebuyers, with 65 percent of those also being first-time home buyers.
The question now becomes: how do you reach this tech-savvy swath of homebuyers?
A majority (59 percent) of Millennials are active Instagram users. While Facebook is still the most used social network among millennials, that figure is declining. Instagram on the other hand, is increasing its market share amongst millennials.
Using Instagram to Reach Millennial Homebuyers:
Remember the famous childhood rhyme, “Sticks and stones may break my bones, but names will never harm me?” Well, think again. In today’s digital age, words matter, and more importantly, what people are saying about you can make an impact on your business’ reputation.
What are people saying about you?
When was the last time you searched your name to see what came up? Take some time today to search your name on different browsers such as Google, Firefox, or Safari if you are a Mac user.
Why is knowing your business footprint important?
According to NAR statistics, 99% of Millennials search online websites compared to 90% of Boomers. Whether you receive a large amount of your business from referrals or friends, rave reviews and testimonials can catapult you to the top. They can also create strength and value as to why clients should choose YOU.
A 2018 survey reveals how consumers search and what is important to them. Here are some key statistics from the survey:
- 86% of consumers read reviews for local businesses (including 95% of people aged 18-34)
- 91% of 18-34-year-old consumers trust online reviews as much as personal recommendations.
- 80% of 18-34-year-olds have written online reviews – compared to just 41% of consumers over 55
3 steps to getting testimonials with ease.
When real estate agents think of social media marketing, the sites that come to mind most often are Facebook, Instagram, and Twitter. However, a recent study shows that, while sites like Instagram and Facebook are great for getting your audience to get to know your business, LinkedIn is the proven king of lead generation.
Coming in at a visitor-to-lead conversion rate of 2.74 percent, LinkedIn has a conversion rate that is three times higher than both Twitter and Facebook.
The reason LinkedIn works is because you are reminding your circle of your professional expertise. You are showcasing to your friends, family and acquaintances your knowledge in a way that is not pushy or overbearing.
This doesn’t mean that you should abandon your Facebook, Instagram and Twitter efforts; it means that you should be actively nurturing your LinkedIn presence in addition to the other social sites in your lead generation mix. Today we’ll be showing you how to make the most of your LinkedIn page, so you can maximize lead generation and get more clients.
Like most real estate professionals, your marketing strategy most likely consists of using Facebook pages to post listings, using Instagram to promote your brokerage, handing out business cards or sending out mailers.
While these tactics are tried and true, here are 5 other techniques you can start incorporating into your strategy to set your marketing efforts apart from the crowd to win more leads and grow your business:
Once an online lead goes cold, it’s a guessing game for realtors to decide if they should put effort into re-engaging with the lead or if they’re better left cold.
The majority of online leads are usually people you haven’t met face-to-face, and because the line of communication between you and the lead has weakened, there’s no way of knowing what stage of the home buying or selling process the potential lead is in anymore.
This makes it harder to market to them, and it also means that when you do try to market to them again, you’ll most likely be just another online realtor headshot to them.
Seems discouraging, right? Still, it is important to follow up with these once-hot leads. Just because the lead has gone cold doesn’t mean it can’t be revived. The question is: how do you best re-engage with someone stuck in this stage?
In the digital age, potential home buyers and sellers no longer turn to newspapers and magazines when looking for real estate services. Social media platforms have become the go-to source for potential clients to find everything from listings to realtors.
If your social media brand isn’t up to par, you run the risk of missing out on tons of potential clients; specifically, younger, social media-savvy clients looking to buy their first home.
Although social media brand management may seem complicated there are plenty of ways for you to take charge of your online brand management on your own.
Follow these simple steps to get started building your social brand today.
Deciding to bring your business into the online marketplace is a big and profound step for any entrepreneur, but it is especially difficult for real estate agents who work solely based on commission and referrals. In a world where social media is a “make or break” medium for many businesses, negative feedback on any platform is a terrifying thought. So how can you effectively bring your business online, build a following of potential leads and respond effectively to feedback? First we begin with, and come back to the basics, content.
The first step to implementing a successful social media and online business plan is coming up with a goal and timeframe for your channels. Setting realistic expectations, with a method of tracking analytics, is how you will be able to measure if your ideas are working efficiently. Along with setting a goal, identify your target audience and where they are most likely to spend time. If you want to target Millennial customers, it would probably be most ideal to utilize Instagram and Facebook versus if you were hoping to target baby boomers, then a blog or newsletter may be better suited.
The most important asset, or weakness, for any medium is content. Content is not only what drives the traffic on your channels, it is what will either bring leads back or push them away. In order to align yourself as a point of interest to potential customers, make sure that your content is interesting and what your consumers are looking for. Gone are the days where pro-business and sales taglines could flood channels of communication, while still achieving leads. Running a channel fueled by too many sales pitches and methods of outreach are sure to repel even the most desperate home buyer. Continue reading