“Social media is people having conversations online.” What is Social Media?
Social Media vs Social Networking? Key Social Platforms Blogging Photo sharing Micro blogging RSSWidgets Social Networking Chat Rooms Message Boards Podcasts Video Sharing
Shift in the Way We Think About Marketing Watch Socialnomics: www.youtube.com/watch?v=ypmfs3z8esI www.youtube.com/watch?v=ypmfs3z8esI
Social Media & Commercial Real Estate Why should I care?
Social Networking Misconceptions 1.It’s only meant for teenagers 2.Only for women 3.It is just a fad 4.You can’t use if for business 5.My Clients aren’t using Social Media 6.You have to be a tech wiz http://blog.facebook.com/blog.php?post=136782277130 http://www.facebook.com/press/info.php?statistics
Let The Numbers Speak for Themselves 50 million Users 350 million Users 3,00,000 million post per day 2.5 billion content shared weekly
LinkedIn Over 50 million professionals with an account Growing roughly one new member per half second When LinkedIn launched in 2003, it took over a year to reach the first million members. The last million took only 12 days.
Facebook Facebook serves 350 million people The website grew from 200 million users to 300 million in just over 5 months More than 2.5 billion pieces of content are shared on Facebook… weekly
Twitter The actual number of live Twitter accounts - just above 50 million 3,000,000 – average number of “Tweets” per day
#2 You Need to Form Relationships Interact with potential clients Establish relationships with other brokers Keep an eye on the competition Build your cross-selling platform
#4 Generates Business A corporate user contacted the CBC ® Corporate Twitter account because they needed assistance on the West coast. Information was pushed down to a CBC professional and the transaction began.
#4 Generates Business “I have put several transactions on LinkedIn. Once I learned to be more specific about what type of buyer I was looking for, I have gotten emails on every deal I’ve posted.” Rob Boehning, Coldwell Banker Commercial Pennco
#4 Generates Business “We have generated a lot of activity from Social Media. We have made a referral to NRT residential in Florida. We have received a referral on a listing in Houston from Coldwell Banker Metro North in Denver. We received a referral two weeks ago from Coldwell Banker Commercial United that was referred to NRT in Salt Lake City. All this within Social Media.” George Alexander, Coldwell Banker Commercial Properties Unlimited
#5 LoopNet has already bought in LoopNet, one of the commercial real estate industry standards, has already not only bought in, but has made it easier to link your properties to your Social Media platforms.
#6 Use it for Recruiting Screen prospects even before the interview process Gain access to candidates that you didn’t have access to Save money Get far more information than you would get from a resume Use resources of other users
#7 Home of Future Clients 99% of Generation Y have a profile on a social networking site. Gen Y accounts for 80 million individuals, outnumbering the 78 million baby boomers Gen Y has $1.3 trillion in direct spending power. Gen Y is beginning to take over positions that make decisions. And, most important, they care what their friends think.
Summary LinkedIn Best for: Networking with other Professionals Joining Groups Hosting your Resume LinkedIn Best for: Networking with other Professionals Joining Groups Hosting your Resume Facebook Best for: Connecting with people you wouldn’t necessarily consider current clients Hosting Video / Pictures Connecting your Social Media Efforts Facebook Best for: Connecting with people you wouldn’t necessarily consider current clients Hosting Video / Pictures Connecting your Social Media Efforts Twitter Best for: Quick Postings Reading Current News Driving Traffic to your other Social Media Sites Twitter Best for: Quick Postings Reading Current News Driving Traffic to your other Social Media Sites Blogging Best for: Becoming known as subject experts Writing longer “opinionated” stories Sharing your knowledge or insight Blogging Best for: Becoming known as subject experts Writing longer “opinionated” stories Sharing your knowledge or insight Video Best for: Market Listings Market Info Videos Capabilities Video Video Best for: Market Listings Market Info Videos Capabilities Video
Download: How to Use Social Media for Business Blueprint Library: Keyword: “Social”
How to Use Social Media for Business Next: Part Two: Keys to Success & How to Incorporate into Business