The importance of a properly managed marketing campaign cannot be underestimated. As a new investor, sometimes a well-organized marketing strategy is all that stands between you and reaching the masses. Essentially, it is, oftentimes, the only way inventors can establish their business in a subsequent market. However, what does it take to run a successful marketing campaign? How do you go about maximizing your return on investment (ROI)?
While valid, these are not the only questions that need answers. Sometimes, instead of knowing what to do, it is equally important to know what not to do. Here are the four most common mistakes real estate professionals make on social media:
1. Focusing On The Product More Than The People
Those familiar with the “four P’s” (product, placement, price and promotion) understand the principle of emphasizing the fifth “P”: properties. After all, the purpose of marketing is to let the masses know what you have to offer. In the case of real estate investors, it is integral to let people know what you do and how you can help them. Of particular importance, however, is the idea of not selling your product, but yourself. Yes, real estate professionals are selling property. But online, they should be building relationships.
Now, more than ever, real estate investors are aware of the importance of building lasting relationships. After all, the real estate business is a people business. Believe it or not, networking is as equally as important as the services you are providing. Therefore, networking should be a vital component of your social media marketing campaign. Constantly posting property pictures on Facebook will annoy your audience. There is a line that shouldn’t be crossed. On the other hand, showing how you helped a family find a home is something that will foster actual engagement. Perhaps even more importantly, you are making your intentions known.
As a general rule of thumb, investors should focus 90 percent of their content on their community. The other 10 percent of posts should focus on the properties themselves.
Social media, for all intents and purposes, is a very social interaction. It is something that needs to be cared for and permitted to grow. Having said that, social media is a marathon, not a sprint. Seeing what it can do for your real estate business will take time. Subsequently, if you are going to establish yourself on the major social media platforms, you need to commit to it. There is no reason to have a social media account that you are not constantly using. It is perhaps more detrimental to have an inactive account than none at all.
If someone Googles your name, chances are that your Facebook, Twitter and other profiles will show relatively high in search results. If a prospective client clicks these links, it is important that they see someone who is actively engaging with their audience. The slightest sign of inactivity is an immediate turnoff.
More often than not, those who have neglected the social media landscape do so because of the amount of time it takes. Too many people think that keeping up to date with social media posts can be time-consuming. While this can be true, it does not mean the time is wasted. In fact, a proper social media strategy can set your business up for success with little invested. Even more people may not know that there are tools that can help you save time and reach more people. Social media scheduling tools, such as Hootsuite and Buffer, allow you to schedule posts in advance so you can spend more time on the management of your business. Essentially, you can write a week of posts and schedule them for the foreseeable future.
4. Neglecting To Implement A Plan
As is common with most tasks ahead, neglecting to formulate a plan can doom a social media campaign before it even starts. Therefore, before you even commit to posting on social media sites, you should know exactly what you are going to do and when you are going to do it. Your plan should be centered on two things: building credibility and connecting with prospective clients.
In coordinating social media efforts, investors are advised to use an editorial calendar. If used correctly, a simple editorial calendar can save you time and headaches. It will also help to organize your posts, as to make sure you are delivering the best content to your readers.
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