One of the things real estate investors struggle with is how to use Facebook and other social media effectively.Almost all of us use social media to some extent, but how do we actually get business from these sites?
I am really happy to have some great information to share with you on the best way for real estate investors to use Facebook. This guest post is by Joy Gendusa from PostcardMania who is true expert in “all things marketing”. She has so much information to share on this subject, that I will be posting her article in three parts. I don't want you to miss any of it, so be sure to check back for part 2 on Wednesday, and part 3 on Friday.
What it CAN and CAN’T do for you
Social media has become a polarizing issue in the marketing community. Some favor the more traditional marketing methods such as direct mail, television, radio, and print advertising. They see social media as a passing fad, not a stable quantifiable avenue for marketing. The other side sees social media as the new frontier of marketing, and they believe it is here to stay. Sometimes they even abandon tried and true marketing ideas and fully invest in this fun new medium.
Both have a valid argument, and both fail to see the full picture. Social media is flawed in the way of quantifiable metrics. How much money is a “Like” making your company? Can you call a business a success if it has a million followers, or Facebook friends, but brings in no revenue? This ambiguity makes Social Media Marketing (SMM) hard to analyze from a bottom-line standpoint. However, social media as a communication form is clearly not a passing phase. The world is becoming more and more connected through the impact of the internet. In order to continue to succeed in marketing, you must continue to evolve your techniques. There are things that Facebook CAN do and there are things that Facebook CANNOT do for your real estate business.
We need to approach social media from a balanced outlook. We need to be open to progressive marketing ideas; however, you can’t fully invest in something and be unaware of how it is going to pay off for you. You should never embark on a marketing strategy without knowing how you are going to evaluate its success. That’s like throwing money out the window and hoping it buys you something nice. Not a great plan.
What does it mean….
So what does it mean to be a success in Facebook marketing? I actually find it easier to start with what it CANNOT do. What Facebook CANNOT do is generate tons of leads for your company. The traditional outlets (Direct Mail, TV, Radio, Print, etc.) are still far and away the best lead generation tools. They have proven they can get the job done, and so far Facebook has proven it does not hold up as a suitable replacement to traditional methods when it comes to lead generation. You will be able to generate some leads through your social media connections, but social media marketing simply cannot match the scale of lead generation that those traditional avenues can deliver.
Okay, so it’s not going to be generating leads for me. What CAN it do?
One of the biggest reasons a business does not convert a prospect into a customer is lack of trust. In order to feel confident in your company, a prospect needs to get to know you and thus build trust in you. The same is true for real estate investing companies. You need to make solid connections and build trust with those who can lead you to investment opportunities, or may be a potential buyer for your property. THIS is where Facebook, Blogs, and other forms of social media marketing shine, and begin to payoff big time for your business.
Next… Part 2. How do I know if I am using Facebook successfully?
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About Joy Gendusa:
Joy Gendusa is the owner and CEO of direct mail marketing firm, PostcardMania. Joy began PostcardMania in 1998, with nothing but a phone and a computer, never taking a dime of investment capital. Joy originally started PostcardMania as a full-service postcard marketing company helping clients create turn-key marketing campaigns with graphic design, printing, mailing list acquisition and mailing services. Since then, PostcardMania has expanded to offer its clients more services including website and landing page design and development, email marketing and full marketing evaluations — all while continuing to educate clients with free marketing advice.
In 2011, PostcardMania reached almost $45 million in annual revenue and the company now employs more than 195 people, prints 4 million and mails 2 million postcards each week, and has more than 53,000 customers in over 350 industries. Please visit http://www.postcardmania.com/?fid=381838 for more information. Find Joy on Google+.
I just discovered you a few weeks ago and I’m already a raving fan. Thank you! Much has changed in FB-land since you ran this series in 2012.
1. I was wondering if you could run it again, I wonder if your analysis that it’s a “trust builder” and not a “lead generator” would be different.
2. With the advent of FB business pages, as a new marketer, how do I start w 0 followers, and build a following? What is an acceptable number of followers to then begin target marketing with FB ads?
3. 2012 we were still recovering and there were thirsty homeowners, now not so much, do you still promote direct mail?
4. In your opinion, for real estate, is Craigslist dead?
I’m working from my small smartphone screen- sorry if there are typos.
Hi Katie – Yes. A lot has changed. I think you can generate leads, but I would caution you to send them to YOUR website. Facebook can shut your account down at any time. With you page, initially you have to try to get your personal contacts to like your page. I don’t do a lot of FB ads so I’m not the one to as about that.
I don’t get a lot from Craig’s List – certainly not like I used to. I would set it up for the app IFTTT (if this then that) to send you leads. You can find a video on YouTube that will walk you thorough that. Thanks for stopping by. I will do an update on FB sometime in the future. Thanks for that tip.
A timely article for me Sharon. A “I buy houses”, web site is my next marketing venture, and Facebook will be a part of that effort. As Joy’s article suggests it is hard to measure success using FB pages, advertising etc. FB for me will be a tool to help with awareness and SEO for my web site. Rather than use direct mail to market to a category I am currently not marketing to, I have chosen to commit time and money to a web site as my next step in building my business. Again, FB will be part of the overall strategy. I dont expect to get a lot of leads from the web site; however, I expect to add credibility to my current marketing and perhaps even gain leads down the road. I look forward to parts 2 & 3, and thanks for posting Joy’s work!
Great post! Thanks Joy for writing this. I think so many people struggle with finding a place for Facebook in a business – but you’ve got great points. Thanks! (And thanks Sharon for posting!)
Hello Sharon,
I just discovered you a few weeks ago and I’m already a raving fan. Thank you! Much has changed in FB-land since you ran this series in 2012.
1. I was wondering if you could run it again, I wonder if your analysis that it’s a “trust builder” and not a “lead generator” would be different.
2. With the advent of FB business pages, as a new marketer, how do I start w 0 followers, and build a following? What is an acceptable number of followers to then begin target marketing with FB ads?
3. 2012 we were still recovering and there were thirsty homeowners, now not so much, do you still promote direct mail?
4. In your opinion, for real estate, is Craigslist dead?
I’m working from my small smartphone screen- sorry if there are typos.
You’re awesome,
Katie
Hi Katie – Yes. A lot has changed. I think you can generate leads, but I would caution you to send them to YOUR website. Facebook can shut your account down at any time. With you page, initially you have to try to get your personal contacts to like your page. I don’t do a lot of FB ads so I’m not the one to as about that.
I don’t get a lot from Craig’s List – certainly not like I used to. I would set it up for the app IFTTT (if this then that) to send you leads. You can find a video on YouTube that will walk you thorough that. Thanks for stopping by. I will do an update on FB sometime in the future. Thanks for that tip.
A timely article for me Sharon. A “I buy houses”, web site is my next marketing venture, and Facebook will be a part of that effort. As Joy’s article suggests it is hard to measure success using FB pages, advertising etc. FB for me will be a tool to help with awareness and SEO for my web site. Rather than use direct mail to market to a category I am currently not marketing to, I have chosen to commit time and money to a web site as my next step in building my business. Again, FB will be part of the overall strategy. I dont expect to get a lot of leads from the web site; however, I expect to add credibility to my current marketing and perhaps even gain leads down the road. I look forward to parts 2 & 3, and thanks for posting Joy’s work!
Joy is kind enough to write guest posts from time to time for me. Thanks for stopping by Gary.
Great post! Thanks Joy for writing this. I think so many people struggle with finding a place for Facebook in a business – but you’ve got great points. Thanks! (And thanks Sharon for posting!)
Look for the next two parts Brandon. She has some great tips.