The success of a real estate business greatly depends on the marketing method employed by the Real Estate Agent. But did you know that social media real estate marketing has a higher rate of conversions than outbound marketing? Do you know that 80% of successful REALTORS® use social media in some form? Well, social media has become an integral part of any real estate business today.
A check on the digital marketing spending in the U.S. reveals that as per August 2014, over 7 billion U.S. dollars were spent on Social media in the U.S. only, and it is projected that U.S businesses will spend up to 17.35 billion U.S. dollars by 2019 in Social media marketing only. Therefore, the future of real estate marketing lies on Social media. This, therefore, means that real estate agents have a great opportunity if they adopt social media marketing for their real estate businesses. Keep reading to know how REALTORS® will benefit from Social media marketing
There are several benefits pegged to use of social media marketing by REALTORS®.
Social Media Helps Real Estate Agents to Get the Word Out
Social media subscriptions continue to grow every day around the world. In Canada alone, approximately 22.7 million people are active in social media. (Read on https://www.statista.com/statistics/260710/number-of-social-network-users-in-canada/) This is more than half the population of Canada. This, therefore, means that as REALTORS®, using social media marketing you can be able to let these people know about your existence. Even better you can target them and grow relationships with them. That will greatly help you increase real estate sales because half of these people will at some time need to buy a property, or they will share with their friends who are looking for a property.
Social Media Marketing is Cost Effective and Easy to Use.
Compared to traditional advertising, Social media marketing is cheaper and has a greater potential. Setting up a real estate business page on Facebook is free, and setting up an advertisement, is easy. You choose the paid advertising which is fairly cheap since you can advertise at a low cost of $1 per day. This is the same on Twitter and LinkedIn, as the advertisement costs are cheap too. To start with you can go for organic search results where you don’t have to pay. You will only have to set up a nice campaign and post relevant content. When users search based on the set keywords, your adverts will be featured. However, for traditional forms of marketing like magazines, you have to book space and wait for the publication date. So, smart REALTORS® should start using social media marketing for real estate because it easy to get started and the investments are cheaper as compared to traditional advertising.
Through Social Media, REALTORS® Can Measure the Conversion Rate and Strategize.
REALTORS® using social media to advertise can use analytics methods available to evaluate the performance of their advertisement and use the data to strategize. For instance, you can know the number of clicks on your property advert and know which audience to target in the future. Most social media platforms have powerful tools that can let Real Estate Agents know the number of impressions created in real time. A good example is an Instagram advertisement where you can know how many people liked the advertisement and be able to follow up on these people. On Twitter, you can see the replies and know what your target audience says about your properties. The good thing is that this happens for free and it’s in real time. Compared to postcards and magazines, REALTORS® should go for social media marketing.
Social Media Marketing Gives More Opportunities to Convert.
Every post you make on social media has a potential to convert customers for your property. Look at it this way, when you build a following on your Instagram, you will have access to your potential customers. Every post will attract likes and shares. This is an opportunity for REALTORS® to make a conversion through the shares and likes. This is because on social media people react to what attracts them. You will find that an advertisement becomes more humanized when people interact through social media and therefore it has a higher potential of converting over traditional marketing.
Social Media is Everywhere at Any Given Time.
More than half of the U.S. and Canada population use mobile devices to access social media platforms. This means that as a REALTOR® you can connect to these people at any time and from anywhere. With traditional advertisements, you are constrained due to the fact that they cover certain geographic locations only. Secondly, your potential clients could be traveling around the world either working or on holiday, or they could be foreign investors. REALTORS® need to be able to communicate with people on the go and people around the world. You cannot achieve this through traditional advertisements but you can effectively reach them through social media marketing. Therefore, harness the power of technology and advertise your properties on social media.
Social Media Marketing Lets You Share Customized Adverts in a Cheaper Way.
Through targeting methods, you can share with your followers customized advertisement and therefore increase your chances of conversions. Real estate customers have different tastes and preferences. For example, you can be able to customize an advert for your potential clients in Texas and still customize a different one for customers in Ontario, and this is cheaper compared to publishing in different magazines.
Social Media Marketing is Good for Customer Service
REALTORS® can connect to their real estate customers at any time, and this means that you can answer them in real time. Social media marketing makes it possible for Real Estate Agents to connect with clients and be able to serve them effectively and promptly. For example, people can message your business on Facebook and get a response from you instantly. Potential customers can ask questions on a post or comment on your business page. You will be able to comment back as well as follow up with them through messaging or other means of communication depending on what profile information is public. Most people nowadays are more likely to comment or message than make a phone call or email as it feels less formal and is easier to do. This means you will be connecting with more potential customers than if you weren’t active on social media.
In conclusion, REALTORS® should take advantage of social media marketing because it has added advantages compared to traditional marketing. There is a high potential to increasing real estate sales and at the same time achieve better customer service and at a cheaper rate. Don’t sit on the social media sidelines; instead, realize that social media has a great advantage and start using social media to grow your real estate business. If you don’t feel tech-savvy enough to create attractive pages or posts, you can hire social media experts to do this work for you.
If you are an educated, experienced REALTOR® that uses social media in their business, you probably fit our criteria to join our Exclusive REALTOR® Referral Network. Click here to apply now.