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Long tail of real estate presentation
 

Long tail of real estate presentation

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    Long tail of real estate presentation Long tail of real estate presentation Presentation Transcript

    • The Long Tail of Real Estate Bill French, Co-founder and Chief Technologist MyST Technology Partners, Inc.
    • Times Have Changed… All CSI: Television Show Viewers Combined Do Not Equal The Number Of Viewers That Watched I Love Lucy. -- Chris Anderson Editor in Chief, Wired Magazine
    • Times Have Changed…
    • Times Have Changed…
      • WalMart: 4,200 CD’s
      • Blockbuster: 2,800 DVD’s
      • Barnes & Noble: 100,000 books
      • iTunes: 2 Million CD’s
      • NetFlicks: 60,000 DVD’s
      • Amazon: 3.7 Million Books
    • Times Have Changed… What happens when you can market almost anything at almost zero cost? Almost everything you can imagine becomes available.
    • Who Wants This Stuff?
    • Times Have Changed What happens when you can easily find almost anything you can imagine? Markets splinter. People consume less of more .
    • What is the Long Tail? …
    • Statistical Distribution Head Tail The long tail represents a long-understood feature of statistical distributions such as Zipf, Power laws, and Pareto distributions.
    • The Long Tail of English “ the” “ barracks” the – 12% barracks – 1/60,000
    • Long Tail of Music Head Tail WalMart CD’s iTunes Albums & Songs
    • Selling Less of More
      • WalMart: 4,200 CD’s
      • Blockbuster: 2,800 DVD’s
      • Barnes & Noble: 100,000 books
      • iTunes: 2 Million CD’s
      • NetFlicks: 60,000 DVD’s
      • Amazon: 3.7 Million Books
    • Selling Less of More
      • WalMart: 4,200 CD’s
      • Blockbuster: 2,800 DVD’s
      • Barnes & Noble: 100,000 books
      • iTunes: 2 Million CD’s
      • NetFlicks: 60,000 DVD’s
      • Amazon: 3.7 Million Books
    • Regroup
      • We have a general understanding of the long tail
      • Selling real estate is far different from selling DVD’s or books
      • Where’s the intersection of the long tail and my business?
    • The Long Tail of Internet Search PPC & SEO Blogs, Forums, Head Tail 77% of Real Estate Buyers Start Looking On The Internet First
    • 77% Start Looking… For a home to buy? Or a place to live?
    • Long Tail Data
    • Excite Search Engine Data 3% 3 bedroom rental in Sherman Oaks CA view dog door (1,000X) 97% (10,000,000) sex MP3 Brittany Spears
    • Excite Search Engine Data 3% 3 bedroom rental in Sherman Oaks CA with view and dog door (1,000X) 97% (10,000,000) sex MP3 Brittany Spears
    • Google Data 3% “ Google estimates that nearly 50 percent of all searches are one-of-a-kind. That's more than 100 million unique searches per day on Google alone.” – Search Engine Watch (1,000X) 97%
    • Google Data 3% “ It's hard to imagine all the variations people might enter into a search engine, and it's this incredible diversity that offers a significant opportunity for marketers.” – Search Engine Watch (1,000X) 97%
    • The Nature of Long Tails
      • Reflection of Niche Markets
      • They’re Very Long
      • They’re Everywhere
        • Music
        • Mortgage Programs
        • Travel
        • Technology
      • They’re Always Changing
    • Long Tail Business Drivers
      • Definition of a “digital producer” has changed
        • Blogs, podcasts, music, art, photography, …
      • Definition of a “digital consumer” has changed
        • Blogs, podcasts, music, art, photography, …
      • Consumer search behaviors have changed
        • More words in the search query
        • Subscribed search
        • Niche-level search tools
        • Changing search preferences
      • Unlimited Shelf Space
    • Long Tail Business Drivers
      • More words in the search query
      3 bedroom rental in Sherman Oaks CA with view and dog door
    • Long Tail Business Drivers
      • More words in the search query
      2005: Herder Corp.
    • Long Tail Business Drivers
      • More words in the search query
      … in general, keyword queries with longer strings [i.e., more keywords] have higher conversion rates. [email_address]
    • Query Phrase Length Growth Source: OneStat.com
    • Long Tail Examples
      • single family Tiburon wine cellar
      • villa style gated Ross
      • Santa Barbara home staff quarters swiming pool
      • Jelinda Road Montecito
      • Montecito contemporary infinity pool
    • Long Tail Businesses
    • Long Tail Aggregators
      • Physical Goods eBay, Amazon
      • Digital Goods Google Video, iTunes
      • Advertising/Services Google, Yahoo
      • Information Google, Wikipedia, Technorati
      • Communities MySpace, LinkedIn
      The Five Aggregation Categories
    • Long Tail Aggregators What Will Aggregate Real Estate?
    • Long Tail Real Estate Candidates
      • Google
      • Trulia
      • Zillow
      • ActiveRain
      • ?
    • Long Tail Business Tactics …
    • Reaching Out To The Long Tail
      • Paid Placement?
      • PPC Campaigns?
      • Wiki’s?
      • Business Blogs?
      • Website?
      • Direct Mail Campaigns?
      • eMail Campaigns?
    • Search Queries Are Unpredictable
      • Nearly every search referral is unique
      • Examples…
        • living in Santa Barbara
        • listing in Lake Tahoe
        • selling your home in the winter
        • American Idol villa san michelle
        • Sausalito boathouse realtor
        • Benbow ca estate for sale
    • Google’s Quality Score This score is determined by your keyword's clickthrough rate (CTR) on Google, and the relevance of your ad text, keyword, and landing page. http://www.wolf-howl.com
    • Scaffolding of Content
    • Scaffolding of Content
    • Leveraging the Long Tail …
    • Definitive Steps
      • Optimize your publishing capabilities
        • Create lots of meta-content
        • Focus on niche visibility
        • Everything XML and open standards
        • Everything discretely addressable
      • Markets are conversations
        • Read Cluetrain Manifesto (twice)
    • Questions? Kurt Riegger [email_address] Bill French [email_address] http://myst-technology.com