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Golden rules

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The Golden Rules of Social Real Estate Marketing

The Golden Rules of Social Real Estate Marketing

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  • Google uses an algorithm to determine what is relevant to your question. The proprietary algorithm uses a number of different criteria to make its determination, but the majority of it comes down to trust. Google quantifies that trust by doing things like counting the links to a particular page. Each link to a page is a tacit endorsement or recommendation for that site. Do you “trust” google? Why?But it doesn’t always get it right. Can google tell you if one type of sandwich is more delicious than another? Can it tell you if you will like one type of car more than another? Can it tell you what is beautiful? Of fun? Or reliable? No, so people rely on other people to help make that decision. Tools evolved to fill that needBlog posts, discussion and counter point. To bring that value everywhere, the tools have to be everywhere
  • The internet has always been about sharing and communication, but new tools enable us to do it more efficiently. There were BBSs and IRC and forums, but it was all lo-fi compared to what we have now.Social media on the internet is finally fulfilling the ultimate purpose on the web, connecting us in more meaningful ways. Bringing context to our world. Context requires reliable information.People use the internet to communicate, research, learn, share, etcWithout the human context, the web is just computers exchanging 1’s and 0’sEverywhere. The vastness of the web, the multitude of choices available to everyone each and every day is overwhelming. Search engines / computers can only help you filter the available information so well, so tools have been developed to help you make sense of it all. To make it relevant. To make it a shared experience. These tools are social tools.
  • Mashable article on location services such as foursquare
  • Realtor.com page on Facebook
  • Texas-fire.com
  • Amazon ratings for Sharp LED TV
  • Newegg ratings for laptop computer
  • Amazon rating for No! No! Hair Removal
  • CNN video on the Texas wildfires
  • Sharing on Toys R Us
  • Sharing on Acura.com
  • Sharing the weather
  • We all do. Normal people like you and me. Very few people actually comment. Even then, enough to build…
  • When at some stage of the buying cyclePeople only think about those products they need when they are ready to pursue that goal. If you just bought a tube of toothpaste, you’re less likely to pay attention to, or remember, a commercial for toothpaste. At the far, far other end of the spectrum, you’re not going to be looking for a Realtor if you’re not at some stage of the home buying cycle.
  • Think about all the advertising someone sees on a normal day (600-3000 for the average American). That is distraction from their task at hand: groceries, picking up the kids, getting to work, etcThey are not thinking about advertising, they don't care, they don't want it thereAdvertising only works in that world because they keep turning up the volumeThe Senate recently passed a law that TV commercials had to be the same volume as regular TV. Why? Because commercials had to yell to get your attention.
  • They aren't looking for an agent then, they don't care because it's not on their mind.7-9 years between home salesIn this period, people don't want to know about your listings. Maybe if they are investors, but that's not the average homeowner. They maybe want to know about home prices in their area to assuage the cognitive dissonance after making such a large purchase. Maybe send stats during that time, but more on that later.
  • Take one example of failed advertising in the digital age
  • Benefit of answering a question online is that it stays for all to see. It adds to your history of expertise.
  • An example of timely content: think about how long it took for updated listing information to come about when the MLS was still distributed via “the book”. Two weeks?What about printing flyers and sticking them in the tube on the yard sign? When you have a change in the listing, you have to change all the flyers. If you have a change in multiple listings, well, how many flyers do you have to manage and reprint, and take the time to drive by and swap them out. Other services abound to fill this gap. Ex: Call a phone number and hear a recorded message of the houses features and price. The new tech is QR codes!
  • QR codes allow you to change the content on a resource you control, rather than changing the content at the tens, hundreds, or millions of endpointsListing example
  • Facebook 750 M users about 50% visit dailyGoogle+ about 26M users since June 28Linkedin about 120M usersTwitter 175M accounts about 90M have no followers about 56M following 8 or more other accounts
  • Divide people into circles
  • Choose circles when you post
  • A good idea is a good idea. FB now allows people to restrict who sees a post.
  • Alternative to filtering your posts, create a facebook page
  • Over 90% of context is conveyed through body language, eye contact and moreSocial media is not really and end unto itself. It is a means to an end. That end is a real-world interaction.
  • Use the content of social media channels to inform conversations and activitiesPeople put out all sorts of information about themselves when sharing and commenting.Pay attention to what people say online and note it. Likes, dislikes, and more. Did they share a game from toys r us website? Did they share a car? Did they mention going on a trip somewhere? Going to a movie, show, etc? Comment on it and remember it. You save birthdays of people, yes? Why not their likes and dislikes?
  • Tweetups – where people can exchange more than 140 characters at a time.Tweetups are anything from this (beer drinking) to this (Egyptian revolution)
  • Need some connection, something in common. A person is the minimum, but what else? Is it something on their profile? Did they comment in an interesting way to an existing friend’s post? Try writing them a message first and expand on that conversation.
  • More leads will come from a core group of people that you identify as your target You can only manage several hundred friends. Ok to have more, but be reasonableOxford University professor of Evolutionary Anthropology Robin Dunbar has researched this for decades. “Dunbar’s Number”. The human neocortex is capable of managing the relationship with only about 150 people. This has been consistent since Neolithic times and evidence suggests it is not changing in the digital, social-networked realm. Rick Deluca
  • One possibility includes the reach of social networks like Facebook and Twitter. Now that social networks are increasing in popularity, users are maintaining larger groups of "friends" that include more casual acquaintances, possibly dulling the credibility of peer networks. It's no longer a matter of trusting the opinion just because it's the opinion of a peer. Now people are less likely to trust an opinion unless it's from a person they know.Another possibility? Now that marketers are getting a firm grasp on social media, consumers are becoming more skeptical about the influences behind peer referrals. Again, this skepticism increases if it's the opinion of a peer they don't really know.

Transcript

  • 1.
  • 2. Mike CutlipDirector of Product Development, RAMCOMike@ramcoams.com
  • 3. Download this: http://is.gd/yBzQ2e
  • 4. How do you find something….
    On the Internet?
  • 5. Rule #1: Social Media is Ubiquitous
  • 6. Commenting to Drive Conversation
  • 7.
  • 8.
  • 9.
  • 10. Rating the Good… and Bad
  • 11.
  • 12.
  • 13.
  • 14. Sharing is Caring
  • 15.
  • 16.
  • 17.
  • 18.
  • 19. Who Makes the Content?
  • 20.
  • 21. Who Uses the Tools?
  • 22.
  • 23. Source: Pew Internet 2011
  • 24. Is Social Media Everywhere?
  • 25.
  • 26.
  • 27. Rule #2: Social Media is Not Advertising
  • 28. When is Advertising Most Effective?
  • 29. Advertising Overload
    Average American exposed to roughly 3,000 ads per day
    Signal to noise ratio is unbalanced: Distraction
    Untargeted
    HEY!!! Crank uptheVOLUME!!!
    Where do you fit in?
  • 30. When is Someone Looking for a REALTOR?
  • 31. The Social Escape
    Escape from daily reality
    Sharing and looking for connection
    Private vs public exhibition
    Construction of the “Super Me”
    Advertising = Disruption of the personal space
  • 32.
  • 33.
  • 34. Who “Likes” Advertising?
  • 35.
  • 36. Rule #3: Be A Timely Resource
  • 37. Being a Timely Resource
    Be yourself
    Share things you like
    Encourage others to enjoy the things you enjoy
    Respond punctually
    Share your expertise
  • 38. Ever answered a question?Ever answered a question… ONLINE?
  • 39.
  • 40.
  • 41. Current - Correct - Content
  • 42.
  • 43. QR Code Generators
    www.qrstuff.com – Generate multiple type of QR codes
    www.likify.net – Use QR code to generate Likes on a Facebook page
    www.pingtags.com – Use a QR Code to connect on LinkedIn
    www.servletsuite.com/meshare - Store all your contact information in a QR code
  • 44. QR Code Readers
    Android: Barcode Scanner, QR Droid
    iPhone: Scan, QR Reader
    Blackberry: QR Code Scanner Pro, Scanlife
    Windows: NeoReader, Quickmark
  • 45. Rule #4: Speak to Different Audiences
  • 46. Divide and Conquer
  • 47. Which Platform?
    Facebook
    The vast general-purpose network
    Google+
    The up and coming powerhouse. Still invite-only
    LinkedIn
    The business networking mainstay
    Twitter
    The casual and quick social network
  • 48. Google+
  • 49.
  • 50.
  • 51. Facebook
  • 52.
  • 53.
  • 54.
  • 55.
  • 56.
  • 57.
  • 58.
  • 59.
  • 60. Rule #5: Nothing Replaces Face to Face
  • 61. Inform Yourself
    People are sharing valuable information, but you have to pay attention
    What do they like? Dislike?
    Interests? Events? Foods? Hobbies?
    What do you ask in future conversations?
    What do you provide as a closing gift?
    Who is engaging others?
  • 62. Location Awareness
    Foursquare
    Facebook location tagging
    Google Latitude
    Loopt
    Brightkite
  • 63. What’s a “Tweetup”?
  • 64. Tweetup
  • 65.
  • 66. Rule #6: Respect the Etiquette
  • 67. Etiquette Basics
    No "friending" complete strangers, unless…
    A person in common
    Similar interests
    Comment mingling
  • 68. Go The Extra Mile
    Personalize stock content where possible
    Don’t only “like”. Try to add something to the conversation.
    Quality over quantity
  • 69. Don't “Overfriend"
    Quality, not always quantity
    Basic evolutionary science
    Dunbar’s Number
    Unchanged since Neolithic times
    Identify and focus on the core for referrals
  • 70. Rule #7: It’s All About Trust
  • 71. Who Trusts Who?
    Meeting others of “like mind” and interests
    Online survey: Trust in "a person like me" tripled from 20% to 68% from 2004 to 2006. (Edelman Trust Barometer).
    At 48% in 2008, “person like me” more trusted than any company spokesperson (Edelman)
  • 72.
  • 73. Social networking used to be innocent, peer to peer conversation and now it’s turned into a marketing playground in which almost everything — blog space, tweets and, in some cases, opinion — is for sale.
    - Jennifer Leggio, ZDNet
  • 74. Decline in Peer to Peer Trust
    Possible reasons
    Expanding of social groups
    Diluting of social web; acquaintance vs friend
    Marketing influence in media
    Skepticism among average social network users
    Still trust among “known” friends
  • 75. Where Is The Trust Now?
  • 76. Source:
    Edelman 2010
  • 77. So What To Do?
    Remember that YOU are the expert
    Promotion is fine… if it’s relevant and targeted
    LinkedIn Answers
    LinkedIn Groups
    Discussions on industry websites
    Relevant discussions on general social sites
    Build your reputation as the expert you are!
  • 78. Remember The Rules
    #1 - Social Media is Ubiquitous
    #2 - Social Media is Not Advertising
    #3 - Be A Timely Resource
    #4 - Speak to Different Audiences
    #5 - Nothing Replaces Face to Face
    #6 - Respect the Etiquette
    #7 - It’s All About Trust
  • 79. Download this: http://is.gd/yBzQ2e