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3 Ways to Grow Your Brokerage with Social Media

Mar
2

REthink2017_SocialMedia

Despite the challenging nature of social media marketing, it’s more integral to your brokerage’s success than ever to effectively position your brokerage in the marketplace. It’s time to stop ignoring how marketing your brokerage’s services has changed; modern agents need modern marketing solutions.

1. Use Social Media to Engage With Qualified Prospects

It’s easy to look at social media as just one more advertising channel. It’s also easy to become overwhelmed by the saturated nature of these platforms and the already established profiles (and networks) of your competitors. But that isn’t how social media works from your prospect’s point of view.

According to Pew Research Center, 72% of adult internet users have Facebook accounts. Not only do these individuals use Facebook, but 73% of Facebook users view this medium as a credible source when seeking brand information. LinkedIn is another promising social platform on which residential agents can connect with prospects, as LinkedIn is the only major social media platform which has higher usage rates among 30-to 49-year-olds than younger demographics. On the contrary, if a younger audience is who you want to reach, Instagram would be the perfect platform, as 90% of Instagram users are under the age of 35 (Science Daily).

The first step to tackling social media marketing is to figure out which social network your target audience uses. Not investing time and – possibly – dollars on your social media presence within these platforms is a disservice to your brokerage.

2. Use Social Media to Build Brand Recognition and Loyalty

Once you have built up your social media profiles, what next? Instead of broadcasting new listings or repeatedly posting about your brokerage, engage in social listening practices to understand what type of content your target audience values. Try reposting and generating content that will pique the interest of and resonate with this audience.

Want to reach millennial parents? Start blogging, posting and tweeting about the neighborhoods with the largest population of millennials in 2017. Post infographics showcasing the best districts for schools nearby these cities. Also consider the type of content you are posting. According to Buzzsumo, posts with images see 2.3x more engagement than those without images. Additionally, a study conducted by Mass Planner suggests that infographics are liked and shared on social media 3x more than any other time of content. Increasing not only brand recognition, but ultimately, engagement with qualified leads on social media is critical to an agency’s success.

One way to increase engagement is to tap into what Forbes classifies the “humanization element” of social media. Take advantage of this unparalleled opportunity to engage with consumers on a more personal level by interacting with consumers on social media in a customized and timely manner. If someone retweets you, respond quickly and use this as an opportunity strike up a conversation about that content. Additionally, if you have a specific follower that you think will be interested in an article you are posting, even go so far as to tag that follower and increase their positive brand association with your agency.

3. Leverage social media presence to achieve higher conversion rates

By spending as few as six hours a week on social media marketing, 61% of marketers saw lead generation benefits with social media, according to Social Media Examiner. Capitalize on the opportunity to position your agency as an industry leader and create long-lasting forums for communication with your most qualified prospects. Take advantage of your ability to narrow the scope of your marketing efforts on social. Incentivize consumers to engage with you beyond social media by providing them with links to your website, and ensure that the process is straightforward as to avoid any frustration on the consumer’s end.

According to Social Media Today, social media has a 100% higher lead-to-close rate than outbound marketing. It’s time to stop engaging in more traditional marketing efforts and start engaging in social media marketing.

Bottom line: Social networks are just as much a prospecting tool for agents as they are an advertising channel for agencies.

Offering value through each stage of your interaction with a client begins the moment you first communicate with them. Effective marketing isn’t about reaching as many people as possible with the message you want to get across; it’s about reaching the right audience with a message in which they will find value. Perfecting these variables is a process, but learning how to nail this balancing act is worth the effort.