How social media technologies can impact the marketing of title insurance and real estate services.

1. THE BRAVE NEW WORLD
104th Annual Conference
California Land Title Association
Napa Valley
May 23, 2011
HOW TECHNOLOGY Can Impact The Marketing of Title Insurance & Real Estate

2. SB 133 'Zero Tolerance'
 Levels the playing field
 Could save you marketing $$ and fines
 But, you need a new way to:
- Tell your story
- Explain your distinction
- Attract knew business
- Compete
- Grow

3. SB 133: It Levels the Playing Field
 No perks
 No meals
 No education credit
 No gifts
 Does it feel like your
hands are tied?

4. Title Insurance Dilemma
Is The Product is a Commodity? How Do You Differentiate?
 Same coverage  Study your „demand
chain‟, then your
 Same premium
„supply chain‟
 Same UW „balance  Process map how you
sheet‟ & reserves provide service
 Great service is  Create a customer
mandatory; it‟s only the experience
table stakes  Build a brand that
conveys the experience

5. Rate Calculators = Consumer Pressure

6. What We‟ll Touch On Today:
 3 CORE TECHNOLOGIES • KNOW YOUR CUSTOMERS
& KNOW YOUR MARKET
– Productivity: Title & Escrow
– CA Realtor Productivity
– Social Media Platforms
– CA Underwriter Market
– CRM Shares
• 6 LESSONS FOR A SOCIAL • MESSAGING & CONTENT
STRATEGY – Welcome to Broadcasting
1. Strategy – Welcome to Publishing
2. Competitive Advantage – Welcome to Listening
3. Market Disciplines of Leaders – Welcome to Being Social
4. The Collapse of Distinction • SOCIAL: THE NEW MEDIA
5. The Service Economy – The Big Hitters
6. Your Moments of Truth – Your New Skill Sets
– How to Begin

7. 3 Core Technologies
Front Office • Website & SEO
Back Office • Title, Escrow & Paperless
Customer Office • Social Media & CRM

8. Utilizing Technology in Your Business
• Select your strategy
• Define your competitive advantage
• Promote your brand, messaging and content
• Choose your (technology) weapons of choice
• Engage in Social Media
• Executive, refine, repeat
• There is no silver bullet

9. Technology Has Come a Long Way

10. Get the Picture?

11. Real Estate…Low Technology in the 70‟s
11

12. Real Estate...High Technology Now
12

13. Have You Heard of These?
Skype | 663 | Microsoft | $8b
Facebook | 500
YouTube 300 | Google | $1.6b
Twitter | 200
LinkedIn | 100 | $7.8b
Yelp | 38
Wordpress | 20
Foursquare |10
Flickr | Yahoo
LotusLive | IBM

14. How About These?

15. The Jury is Out…On Social Media
 But, if you don‟t engage you
will be conspicuous by your
absence
 Social has a learning curve
 Social takes time,
commitment, effort
 Social requires that you
contribute to the dialogue, but
listening is important, too

16. Social Media Skill Sets: Tools of the Trade
1. Author / Blogger on Wordpress
2. Filmmaker on YouTube
3. Photographer on Flickr and blogs
4. News reporter on Facebook, Twitter and Blogs
5. Human Connector on LinkedIn, Facebook, Foursquare

17. Social Media Categories
CATEGORY EXAMPLE EXAMPLE
1. NEWS SITES Digg Reddit
2. SOCIAL NETWORKS Facebook LinkedIn
3. BOOKMARKING Delicious Stumbleupon
4. SHARING YouTube Flickr
5. EVENTS Meetup Eventful
6. LOCATION BASED Foursquare Yelp
7. BLOGS Wordpress Blogger
8. MICRO BLOGS Twitter Instant Messaging
9. VIDEO CONFERENCING Skype FaceTime

18. Keys to Social
 Content, Content, Content
 Frequency
 Be Genuine, Be Authentic (no selling, no
hyping)
 Polish Up Your Listening Skills
 Have Fun, Don't Make It a Chore

19. Before You Begin
 Who is your audience?
 Who are you going to target?
 Know where they're at?
 What are you going to say?
 How do you promote your brand?
 First steps first…..

20. Remember….
You Make Real Estate Transactions Happen
Won‟t Won‟t
Buy TITLE
INSURANCE Lend
• Home
• Lender
Buyer
You have much to say and
can contribute to the dialogue.

21. The Six Lessons to Dominate Your Social Market

22. Porter on Strategy
…
Strategy
“Is the creation of a unique and
valuable position…by choosing
what not to do…and by creating fit
among a company’s activities”
Competitive Advantage
“Is doing similar things differently
than your competition…or by
doing different things”

23. Porter on Competition:
The Five Competitive Forces
Threat of
New
Entrants
Buyer Industry Supplier
Power Rivalry Power
Threat of
Substitute
Products

24. The Disciplines Of Market Leaders
 Operational Excellence
 Product Leadership
 Customer Intimacy

25. Familiarity Breeds Complacency
 “If you cannot impact the
design of your products,
 and if you cannot choose
or control the price,
 Then your primary point of
differentiation has to be in
service”.

26. The Experience Economy
“Work is Theatre and
Every Business is a Stage”

27. Every Touch Counts
Sales Reps
The Front Desk
Experience
Policy Voicemail
Office &
Commitment
Parking
Marketing Facebook
Business
Twitter
Card
Content Website

28. Know Your Customer: 2010
500,000 DRE Licensees
169,000
492,000 closings
Realtors
$303,000 5.8 Unit / $5,300 $31,800 $2,700 $1.3
Median Sides per per Unit / per Title Billion in
SP Realtor Side Realtor Premium Premiums
50% of Realtors’ Commission;
Same as Realtor’s Net
After Tax & Expense

29. Have You Tried CRM?

30. Maybe Social Media Can Help
 Don‟t be shy or silent
 Try marketing with a new
„voice‟
 Connect with social media
advocates
 Follow your Realtors and
clients
 Promote your brand and
your value
 Connect, listen, and share

31. The Heavy-Weights for Business
1. Skype
 “A Communications Platform” 663M Users; Microsoft pays $8B
2. Facebook
 “A Social Utility for Communications” 500M Users; 700B minutes per month
3. YouTube
 “A Distribution Platform For Original Content Creators and Advertisers Large and
Small” 300M Users; Two Billion videos each day; 100M unique visitors each month
4. Twitter
 “An Information Network” 200M users; 19B searches/mo; 90M tweets / day
5. LinkedIn
 “The World‟s Largest Professional Network”; 100M Users; 2B people searches in
2010
6. Wordpress Blogs
 “A blog tool and publishing platform” 20M Websites; 385,000 bloggers online each day

32. How‟s Your Brand Messaging?

33. What Does a Brand Say?
 Retail Brands  Title Ins. Brands
 Starbucks  Old Republic
 Apple Computer  Stewart
 Nordstrom  First American
 7-Eleven  Fidelity
 Real Estate Brands  Mortgage Brands
 Prudential  Wells Fargo
 Coldwell Banker  Chase
 Better Homes & Gardens  Bank of America
 Sotheby‟s  Countrywide

34. Underwriter‟s Q3-2010 Market Share
(ALTA)

39. Underwriters on Facebook

40. Starbucks on Facebook

41. A Title Company in Texas
Message
Customers
Call to Action
Find Us

42. Cardinal Rules on Social
 No selling!
 Be authentic
 Be genuine
 Be engaging
 Share useful or interesting content
 Be persistent
 Be 'out there'

43. Then Craft Your Message
 ABC Title Company is...
 What we do really, really well is....
 We are different from others because...
 We believe and practice daily......
 Our people are folks you'll want to know
because....
 When you choose us you can count on our.....,
to do...., and provide you with....

44. Ideas for Blogging

45. Need Content?

46. Blogging Tools

47. Blogging Tools

48. Social Campaigns

49. RSS Feeds

50. Create Your Own Video Channel

51. Web Presence by Realtors

52. Realtors are Social and Hi-Tech

53. Brokerage Website
Transaction Tools
Promotions
Calendar Events
RSS Feeds
Blog Casts
Agent Resources

54. Realtor Website
A Real Person
Search MLS
Blog Site & RSS
Social Media

55. Realtors Are a Social Tribe

56. Be Social: Join Real Estate Communities

57. Social Media Farming
$1,000,000
GOAL: TITLE ORDERS
PREMIUMS
GOAL:
Average Premium $2,700
370 title orders
Sides per Realtor 6
Control Sides for Title 3
Capture Rate: 33% 1
Media Farm 370 Realtors
Realtor Churn: 20% 74 Realtors
Realtors With No Sides: 30% 111 Realtors
Ongoing Media Farm: 555 Realtors
Media Content Strategy, message, discipline
Media Frequency Weekly, if not daily
Media Manager Who‟s job is it?

58. LinkedIn Groups

59. LinkedIn Profiles

60. Twitter

61. Facebook

62. Location Based Technology: Foursquare

63. Location Based Technology: Yelp

64. Title Insurance: Online Pressure

65. Realtors on Facebook
65

66. Realtors‟ on Facebook
66

67. Social Convergence for Title Agents

68. Skype Video Calling

69. Skype Conferencing

70. Skype Business Conferencing

71. Skype for Social Business
Text Messaging Documents on Screen Sharing
Group Video Calling up to Ten Send Files of Any Size

72. Skype and Facebook Mashup
72

73. Skype Calls With
73
Facebook Friends

74. Skype with Facebook News

75. CAR‟s Masters Series of Social Media

76. Become a Social Network Master!
Social Media Summit
Realtors® are Embracing
Social Media… so Should
You!
 Become a Source of Valuable
Information
 Strategies to Integrate
 Facebook & Twitter
 YouTube & Blogging
 Comprehensive
 Step-by-step instruction
 Up to the minute technology
Your Special Price for a Full day is only
$159.00
Call 213-739-8396
Education.car.org

77. Social Network Master Program
 In-depth social media | networking strategies
and resources
 Individual 3-hour courses available in live
lecture or online, including:
 Facebook
 Twitter
 YouTube
 Blogging
Special price $59 ea. Call 213-739-8396
Education.car.org

78. Social Network Master Program Extras!
 Monthly “Power Up” Webinar only $19.95/mo.
 Introduces innovative tools
 Updates and evolving strategies in social networking
For More Information Visit
www.car.org/Education/SocialNetworking
Contact Your Local Association of REALTORS® for Their Current
Schedule
Or call C.A.R. Education
213-739-8396

79. Social Network Tools
 Facebook Real Estate Tab
 Local data specifically for your cities or ZIPs
 Social Marketing Platform
 Social campaigns
 Suggested Content based on industry and interests
 Roost Circle increases reach, leverages social graph
Call 213-739-8396
Education.car.org

80. Thank You, and Good Luck with Social!
Travis Wright
281-217-2789
travis-wright@comcast.net