Tara Jordan

What Social Media Sites Should I Use? Does this sound familiar or does this somewhat describe you? Perhaps you set up your Facebook account and you participate somewhat, even if it is mostly to see what everyone is out there doing. And, you set up a LinkedIn account several years ago (as that was the thing to do at the time and/or were possibly seeking employment). Now you aren’t even sure what your login and password it and you can’t figure out why people are still trying to “connect” with you. Lastly you can’t stop hearing about Twitter, yet you have only sent out one or two tweets about a year and a half ago once you heard that Twitter was growing. Additionally, you are sold on the idea of social media, believe that social media can help you in your marketing efforts and have even started setting up your accounts. But, are you wondering which social media sites will work the best for you? Would you like to know which platforms you should spend the most time and effort on? It is as a result of many of these questions that prompted me to write this article. It is important to understand that perhaps when we hear about social media that we lump it all into one big “social media” category. And, I believe that it is necessary to consider that they are all different. Wikipedia defines social media as “the use of web-based and mobile technologies to turn communication into interactive dialogue,” and while all social media fall into this definition, they need to be approached uniquely. Let’s analyze here the top 3 social media sites, Facebook, Twitter & LinkedIn. Facebook defines themselves as “Giving people the power to share and make the world more open and connected.” Facebook is largely a social network and an area where one can share their information, including interests, education, marital status, photos, videos, etc. Most Facebook participants largely use Facebook for staying in touch with friends, family, contacts and sharing information with them. So, if you receive business by referral I would recommend engaging and re-engaging with your Facebook sphere of influence. For business and marketing on Facebook as well, consider a Facebook Fan Page and share listings, open houses, and perhaps relevant industry information. What is Twitter and should I also be tweeting? Twitter is a micro-blog and a real-time information network that connects you to the latest information about what you find interesting. Simply find the public streams you find most compelling and follow the conversations. If you do NOT like to share personal information through social media, perhaps Twitter may be for you. Twitter also does not require you to “accept” friends and set privacy settings or enter a great deal of personal information. You can utilize Twitter in many ways and even if you only wanted to use Twitter to gather relevant information, you can do that too. Additionally, you can market yourself, listings and services through twitter and gain brand recognition and direct people to your website(s). And finally, we will discuss LinkedIn. If you haven’t logged into LinkedIn in a while and/or you do not have a LinkedIn account, I would highly encourage you to do so. Why? LinkedIn is largely a professional social media outlet. This is your professional credentials and essentially allows you to market yourself and your business professionally. Many tell me that they engaged in LinkedIn as a result of their potential clients and prospects looking for them. I have yet to find a reason that it doesn’t make sense for you to get “LinkedIn.” Lastly, whatever social media sites you participate in, I recommend these three things: 1. Be Consistent 2. Be Relevant 3. Be Engaging HAR offers many social media classes and instruction. For more information and to sign up for one of these classes, please go to: www.har.com/edu

What is Twitter?

Twitter is essentially a micro-blogging platform. The original idea behind Twitter is simple to answer the question, “what are you doing?” and to answer that question in 140 characters or less.

In countries all around the world, people follow the sources most relevant to them and access information via Twitter as it happens-from breaking news to updates from friends.

Twitter could simply be called...people having conversations online.

Why Twitter?

Well, for starters 93% of social media users believe that the companies and services they use should have a social media presence. And...90% of Twitter users are not set-up properly or using it properly...so there is great opportunity. If you weren’t already convinced, here are some Twitter success stories just to name a few:

<!--[if !supportLists]-->1. <!--[endif]--> Dell made $2 million in their first 12 months using Twitter and reported $6.5 million in 2009 sales from Twitter alone.

<!--[if !supportLists]-->2. <!--[endif]-->Mountain Dew used Twitter for their new flavor campaign directly to consumers.

<!--[if !supportLists]-->3. <!--[endif]-->Tasti D-Lite rewarded customers tweet cards (10% discount cards) for tweeting about their brand

<!--[if !supportLists]-->4. <!--[endif]-->CoffeeGrounds increased their sales 20-30% in one year using Twitter

<!--[if !supportLists]-->5. <!--[endif]-->Comcast assists 200-300 people per day and has helped troubleshoot 150,000 customers all through Twitter

<!--[if !supportLists]-->6. <!--[endif]-->Starbucks gained more than 50,000 product ideas through Twitter and sited the cost was less than a Caramel Macchiato yet the value was priceless.

<!--[if !supportLists]-->7. <!--[endif]-->JetBlue eliminated their $50 carry-on cost for bikes due to complaints through www.twitter.com

<!--[if !supportLists]-->8. <!--[endif]-->The Michigan Department of Transportation uses Twitter to inform drivers of traffic and road closures and conditions.

<!--[if !supportLists]-->9. <!--[endif]-->In December 2009, Pepsi “tweeted” that they were ditching their Super Bowl ads for social media campaigns

<!--[if !supportLists]-->10. The Roger Smith hotel in New York netted an additional $15,000-$20,000 in revenue by discounting rooms 10% using Twitter

Tweeting yet? If not...

How to use Twitter?

<!--[if !supportLists]-->1. <!--[endif]-->Go to www.twitter.com and “sign up”

<!--[if !supportLists]-->2. <!--[endif]-->Pick a unique user name. Personal example might be: @JaneDoe or example business might be: @PlantationRealEstate

<!--[if !supportLists]-->3. <!--[endif]-->Connect with friends through email accounts such as Gmail, Yahoo!, msn, AOL, etc.

<!--[if !supportLists]-->4. <!--[endif]-->Follow other interest groups/companies/friends

<!--[if !supportLists]-->5. <!--[endif]-->Create “follow-lists” if you wish...

<!--[if !supportLists]-->6. <!--[endif]-->You are ready to tweet!

PS- It’s FREE!

Top Tweeting Rules:

<!--[if !supportLists]-->1. <!--[endif]--> Be yourself

<!--[if !supportLists]-->2. <!--[endif]--> Less is more. Be clear and concise.

<!--[if !supportLists]-->3. <!--[endif]--> Perhaps what you are thinking instead of what you are doing.

<!--[if !supportLists]-->4. <!--[endif]--> What moves you, not just where you are going.

<!--[if !supportLists]-->5. <!--[endif]--> Link not only your blog...but why you blogged it?

<!--[if !supportLists]-->6. <!--[endif]--> Engage and inspire

<!--[if !supportLists]-->7. <!--[endif]--> Make sure you “follow,” but also try to lead.

Should I use Twitter in my Real Estate Practice? YES.

WHY?

<!--[if !supportLists]-->1. <!--[endif]-->Drive people to your website

<!--[if !supportLists]-->2. <!--[endif]-->Sell more homes

<!--[if !supportLists]-->3. <!--[endif]-->Attract more buyers

<!--[if !supportLists]-->4. <!--[endif]-->Be knowledgable about your business- What’s hot? What’s not?

<!--[if !supportLists]-->5. <!--[endif]-->Listen to what people think about your business

<!--[if !supportLists]-->6. <!--[endif]-->Find out what people want

<!--[if !supportLists]-->7. <!--[endif]-->Find people searching for what you are offering

<!--[if !supportLists]-->8. <!--[endif]-->Get attention from media and attract free publicity

<!--[if !supportLists]-->9. <!--[endif]-->Drive people to events

<!--[if !supportLists]-->10. <!--[endif]-->Announce

<!--[if !supportLists]-->11. <!--[endif]-->Build brand and reputation

<!--[if !supportLists]-->12. <!--[endif]-->Provide help in a time of crisis

www.twitter.com/taratallon

January 2011

What was the most visited website of 2010? Facebook, accordingly to a recent release from Experian Hitwise. Facebook exceeded Google not only as the top visited website but also as the most searched item of the year. Here are additional statistics as reported by Facebook:

•1. There are more than 500 million active users

•2. 50% of those active users log in every day

•3. The average user has 130 friends

•4. People spend over 700 billion minutes per month on Facebook

•5. There are over 900 million objects that interact with pages, groups and events

•6. The average user is connected to 80 community pages

•7. The average user posts about 90 pieces of content each month

•8. There are more than 30 billion pieces of content (web links, news stories, blog posts, notes, photo albums, etc.) shared each month.

•9. Facebook is integrated with over 200 million websites, including 80 of comScore's U.S. Top 100 websites

•10. Over 200 million users access Facebook from mobile devices and those mobile users are twice as active

Of the top 10 US metropolitan areas, Houston saw the 2^nd largest growth of Facebook users growing 66.1% from 2010 to 2011, less than 1% behind Chicago at 66.8% growth, published by iStrategeylabs. The demographic group with the most growth was college students, up 233.6% in one year and the fastest growing demographic group joining Facebook was age 18-24. And, according to the NAR Profile of Homebuyers & Sellers 2010, the largest group of homebuyers was first time home buyers age 25-34 accounting for 56% of buyers. A study by e-Marketer shows there are over 206.2 million internet users just in the US. That means 71.2% of that web audience is active on Facebook. And, the NAR Profile of Homebuyers and Sellers 2010 show that in the last 3 years, 90% of homebuyers use the internet.

So, Facebook speaks for itself with its' growing popularity and use, but how can real estate professionals incorporate it into their businesses and how can they generate a real return on their investment. Here are some tips:

•1. TIME:

The largest cost for Facebook is time. It would then make sense to monitor the amount of time spent on Facebook and perhaps incorporate that into your daily schedule so that it is easier to maintain, track and account for. Perhaps consider setting aside 30 minutes in the morning and/or 30 minutes in the evening, for example.

•2. BE CONSISTENT:

You have probably come across "friends" that constantly post about things that don't matter and you probably have also come across "friends" that flood you with their business or opportunities. Don't be that "friend." A good mix may be 1 business related post to every 4 personal posts. Also be consistent. Since peak Facebook traffic times are studied to be around 9am, post regularly at that time. Or, consider something like "Tara's Tuesday Tip?"

•3. ENGAGE:

Acknowledge that Facebook is an opportunity for you to easily and very inexpensively re-connect with past friends, family, colleagues, acquaintances, neighbors, etc. The NAR Profile of Home Buyers and Sellers 2010 show that 48% of home buyers found their agent through the referral of a friend or family member and 87% of them would use or recommend their agent again in the future. Facebook can be a great way to stay in touch with clients and for them to recommend you as well. Like in any other relationship, you must engage with your "friends." That means, stay in touch, ask questions, make posts that are engaging, and also take time to respond to others and their posts. Remember, you are creating a relationship.

•4. BE YOURSELF:

While there are many marketing companies that offer to maintain and manage your Facebook account, instead be you. If you are not authentic, how can you create a relationship? Even if it is your business or fan page, you must be you.

•5. ADVANCED TIPS:

For those of you seasoned with Facebook, generating leads and establishing or re-establishing relationships, contemplate other pages. Such as pages for:

•a. Community

•b. City Interests

•c. County

•d. History

•e. Subdivisions

•f. Area

Like your personal page, be careful not to push your business. Consider this a bi-product of the page similar to doing any other interest groups or community involvement that you would to generate business and referrals.

For those most Facebook advanced, look into Facebook Ads. They have and are becoming increasingly popular, effective and used. You are able to target a specific status, location or demographic. Facebook is on par with Google AdWords, cost-per-lead, cost-per-customer and cost-per-click advertising. Here is the example Facebook uses:

"Over 12 months, CM Photographics generated nearly $40,000 in revenue directly from a $600 advertising investment on Facebook. Of the Facebook users who were directed to CM Photographics' website from the ads, 60% became qualified leads and actively expressed interest in more information." The ad read "Recently Engaged? CM Photographics would love to be a part of your event. Mention this ad for $500 off." The ad was targeted at an audience that had just changed their Facebook status to "engaged."