Social Media: Mortgage Bankers Association


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Social Media: Mortgage Bankers Association

  1. 1. Social Media Revolution<br />Presented by:<br />Jonathan Arehart<br />Twitter @jarehart & @cavendo<br /><br /><br />
  2. 2. Agenda<br />Overview Video (5 minutes)<br />Discussion on social media (90 minutes)<br />Q&A (20 minutes)<br />
  3. 3. Agenda<br />Introduction & Principles<br />Major Platforms (Facebook, LinkedIn, Twitter)<br />Bringing It Together (Planning, Measurement, Privacy, & the Future)<br />
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  5. 5. What is “Social Media?”<br />Wikipedia says it’s the: <br />“type of media…based on conversation and interaction between people online.”<br />
  6. 6. What is “Social Media?”<br />It’s not one thing<br />It’s not just Facebook or Twitter<br />It’s about how we communicate<br />
  7. 7. What is “Social Media?”<br />Types of applications include:<br />Communication<br />Collaboration<br />Multimedia<br />Reviews & opinions<br />Entertainment<br />Brand monitoring<br />Aggregators<br />
  8. 8. Examples<br />
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  10. 10. Gary Vaynerchuk<br />Grew wine store from $4 million to $50 million<br />Best Selling Book (CRUSH IT!)<br />64,000 fans on Facebook<br />880,000 followers on Twitter<br />Weekly SIRIUS XM Radio Show<br />
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  12. 12. Ian Watt<br />The “condo king” of Vancouver<br />Video blogs almost daily<br />Volume, name recognition, and results<br />Just a regular guy like you and me!<br />He’s having fun<br />
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  18. 18. What does this mean?<br />Finding the right channels<br />People want to interact, but…<br />The way they want to interact<br />Listen to your audience and engage<br />
  19. 19. What’s the impact?<br />Faster communication<br />Much more targeted communication<br />Interaction<br />Your audiences are evolving<br />
  20. 20. Think of the uses<br />Customer service<br />Emergency response and communication<br />Media relations<br />Audience identification<br />Event planning<br />
  21. 21. More uses<br />An extension of your current efforts<br />Information moves so much faster<br />STOP using just email and get more targeted<br />The key is integration<br />
  22. 22. 600+ million<br />users worldwide<br />100+ millionusers worldwide<br />You<br />100+ million<br />users worldwide<br />Billions<br />of Blogs<br />Billions<br />of Emails<br />
  23. 23. Plant Your Seed<br />Get started on the networks that make sense<br />Start finding your audience<br />Connect<br />Promote<br />
  24. 24. Blogging<br />Easy to get started<br />Write about what you know<br />Keep it short, simple and informative<br />Stick with it<br />
  25. 25. Facebook<br />Started as a college-only network<br />35+ represents almost 1/3rd of all users<br />55+ is the fastest growing user base<br />Business Pages separate personal from business<br />Setup a business page<br />
  26. 26. Facebook<br />Promote your page<br />Advertise (where appropriate)<br />Encourage participation<br />Don’t just broadcast…interact<br />
  27. 27. LinkedIn<br />Very much a business tool<br />Setup a company page<br />Load your rolodex and contacts<br />Reach out and stay active<br />
  28. 28. LinkedIn<br />Groups, Discussions, and “People You May Know”<br />Great ways to build your network<br />Great for hiring<br />In this context: finding partners, etc.<br />
  29. 29. Twitter<br />Think of it as “micro” blogging<br />Easy to post updates<br />Follow brands and people at all levels<br />Extremely fast-paced and interactive<br />Setup an account and be real<br />
  30. 30. Twitter<br />Define the “how” and the “why” you’ll use Twitter<br />Big commitment but can payoff for certain relationships<br />Great with niches like media relations<br />
  31. 31. Other Networks<br />Plenty of niche networks<br />You can start your own with services like Ning<br />Consider sites like Flickr (photos) and YouTube (videos)<br />Don’t just do them all – focus on the ones that matter to you<br />
  32. 32. Bringing It Together<br />
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  34. 34. Planning<br />Incorporate social media w/marketing planning<br />Consider a content plan<br />Consider where your audience is and how they want to hear from you<br />What will you say & when/where will it go?<br />
  35. 35. Planning<br />Two aspects to consider:<br />ConsumptionHow do you receive information & process it?<br />ParticipationHow do you engage & be an active user on social media networks?<br />
  36. 36. Planning<br />Find the right tools<br />Most incorporate the major social networks like Facebook, Twitter & LinkedIn<br />Consider where & how often you’ll access (e.g., at home, the office, or via your phone)<br />Some examples:<br />
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  39. 39. What to Say?<br />Keep it conversational, not promotional<br />Focus on relationship building<br />Think of it like a giant cocktail party or networking event<br />Write for the platform<br />
  40. 40. Examples<br />Facebook: Photo with a note, link to an article<br />Twitter: 140 character limit, so keep the message simple – think of a text message<br />LinkedIn: Provide links to articles or just general updates<br />
  41. 41. Set Boundaries<br />How many turn off your cell phone at home?<br />Be accessible but don’t let it overwhelm you<br />Understand your commitment level & translate to time per day or week<br />Could start as simple as 15 minutes/day<br />
  42. 42. Concerns & Risks<br />Information overload<br />Privacy (public vs. non-public disclosure)<br />Access to information<br />Time vs. value<br />
  43. 43. Safety & Privacy<br />As an employer, don’t block it<br />Have very clear guidelines and boundaries<br />Monitor what’s happening<br />Consider a social media policy<br />
  44. 44. How to Measure?<br />Tangible:<br /># of Followers<br /># of Fans<br />Comments<br />Visits to Website<br />Intangibles:<br />Influence<br />Reach<br />Google Alerts<br /><br />Facebook Insights<br /><br /><br />
  45. 45. Measurement<br />Ultimately it’s about conversions & the bottom line<br />May not be a direct correlation between tangible measurements & results for a while<br />Some activities are ‘community building’ or ‘branding’<br />
  46. 46. Measurement<br />Remember the platforms may change<br />Therefore, the metrics will change as well<br />Correlate to real measurements you already use (e.g., network size, # of subscribers)<br />
  47. 47. What to be aware of<br />Barriers are breaking down<br />Disclosure is changing – who, how, and when<br />It will happen with or without you – your stakeholders will run the show<br />
  48. 48. The Future<br />Location & mobile<br />Contextual networks<br />Speed & intelligent information flow<br />Faster & more relevant<br />
  49. 49. Final Thoughts<br />Doing the ‘right’ activities<br />Being an active participant<br />Know your identity – and your limits<br />Set goals and measure often – but give it time<br />Have fun but have your goals in mind<br />
  50. 50. Questions?<br />
  51. 51. Interact with Me<br /> (@jarehart)<br /> (@cavendo)<br /><br /><br /><br />Email:<br />Phone: 703-530-6555<br />