Real estate journalism scrambles get the story before competitors Social provides a way to scoop reporters You control the message Don’t have to wait for someone else to present it for you, through their own lens. The human element that we talked about before: See a company without feeling like you are doing business Audience is already there: 56% of those ages 65 - 69 are now online 45% of those 70 - 74 are using the Internet 44% of YouTube's users are ages 45 - 55+ Social media now used by majority of adult online users between the ages of 18 and 64. Facebook – more than 1 billion users.
That’s 3640 Advised 16 to come 5 actually came
High expectations but…there’s no need to panic.
Real Potential for CRE heyday in social media Real estate has traditionally lagged Some firms are doing it well – you are Video and photo sharing Crowdsourcing Profiles of projects Experts establishing themselves as thought leaders Facilitating p[ublic involvement by urban planners
Surveying The Lanscape - Samuels + Associates
Surveyingthe landscapeMaking the right choices In new media Presented by
Social and New Media: Tools to Seek Find Share information online
Why care about social media? Control Cost-effective Nimble Drives conversation Your audience is already there
New Expectations 93 percent – Should have a social media presence 85 percent – Should interact with consumers via social media 56 percent – Stronger connection/ better served by companies via social media Cone Business in Social Media Study
Why consumers like social media• People trust “someone like me” more than authority figures in business, government, or media People trust “someone like me” more than authority figures in business, government, or media
Word of mouth: Mayo Clinic91 people 40 people85 percent would recommendWord of mouth: 84 percentsource of infoREMEMBER:Social media eliminatesinertia and friction
Social Media andCommercial Real Estate Real estate is about buildings. Buildings are in places. Social media is about communities. It’s a good match.
“Placemaking” in social media • Be more a presence• Be more thanthan a presence – Go beyond Facebook; LinkedIN; Twitter • Potential next stop: social/mobile• Potential next stop: social/mobile • Mobile search up 500 percent in last two years. – Mobile search up 500 percent in last two years. • Mobile means• Mobile means • Placemaking on FourSquare, Yelp, YouTube – Geo-marketing – Placemaking on FourSquare, Yelp, YouTube • Tags users, connects them – Geo-marketing (Foursquare) with people • Tags users, connects themsharepeople • Similar locations or with information • Similar locations or share information • For example, encourage tenants to in; create a hashtag – For example, encourage tenants to checkcheck in; create a hashtag – It’s•making a place place matter – on-line It’s making a matter – on-line• Placemaking means community • Placemaking means community
Case study• Goal: Motivate local citizens to attend public hearings and testify in favor• Strategy: Earn public trust for White Flint, based in Montgomery County, MD• Tactics: Community outreach campaign Synthesis of traditional and new media Facebook Blog posts Interactive web site• Results: 400+ prodevelopment letters sent to the town. Amplify numerous voices of support from communities that had antidevelopment leadership.Typical developers avoid the media,but if you can tell the right story…you can win.
Choose wisely, you mustWho do you want to reach?What will you accomplish?How will you enhance relationships?