The ATO crew – Yashar and Ceci go to the studio of Channel 933 here in San Diego, CA to interview the morning broadcasters of AJ’s Playhouse!

We asked them about Social media: what they like – what they don’t like – and how they see it integrating with the radio. Watch to see the members Aj, Geena the Latina, and Sonic as they tell us about how they use Twitter for everything from twitter dating to how main stream it is now with everyone from radio DJ’s to CNN broadcasters to our current president using the tool.

To remain competitive in today’s environment, real estate professionals and home builders must understand who their buyers are, where they are doing their research, and how to effectively communicate their brand message.   As we continue to see a dramatic shift away from traditional media, home builders and marketers are seeking advertising channels that are most cost effective, more targeted, and more measurable. 

Internet marketing is earning greater recognition as the industry becomes more educated about the valuable marriage between creativity and technology.  Social media is one of these strategies that is gaining fantastic momentum.  Social media as a marketing strategy has made so many advancements in the past 12 months that it is hard to keep track.  The online marketing space has redefined how companies brand themselves, communicate with customers, and allocate marketing dollars. 

Transparency is the only way builders can remain relevant and competitive.  The old days of companies hiding behind their “big brand” are over.  Companies that are engaging in social media are committing to real customer interaction and showing who they really are as a brand and as a team.  This article aims at providing insight into why we should care about social media, how it is redefining the way we market products and services,  and how to use it effectively to sell homes.

Why Should We Care About Social Media Marketing?

Home builders and real estate professionals need to understand that their buyers are in fact online and are using social networking sites on a regular basis:
• According to the National Association of REALTORS “Profile of Home Buyers and Sellers 2008″ 87% of home buyers use the Internet to search for a home.
• According to a 2009 Facebook statistics report, the fastest growing group on Facebook is now the 35 to 54 year old demographic growing at growing at 276.4% in the first six months of 2009.  The 55+ demo is not far behind with a 194.3% growth rate.
• According to Nielsen, unique visitors to Twitter increased 1,382 percent year-over-year, from 475,000 unique visitors in February 2008 to 7 million in February 2009, making it the fastest growing site in the Member Communities category for the month.
• YouTube is now considered the largest vertical search engines in the world with well over 70,000,000 videos (as of March 2008)

Redefining the Marketing Landscape

The hybrid approach:  Social media marketing has created a fusion between real estate marketing, advertising, and customer relations.  The most successful real estate focused social media campaigns combine all online and offline marketing efforts and truly engage the audience.  The companies that use these strategies effectively are fully committed and spend considerable time on these initiatives.  Once a campaign gains momentum, the social platforms (i.e. Facebook Fan Page, Twitter, LinkedIn, YouTube) become real communication tools.  Builders can now actively interact with potential buyers and industry professionals in a more personal manner.  Consumers want to see user-generated content and learn about your brand from people outside your organization. 

Branding:  We should be careful about how we define “branding” as it applies to marketing and advertising.  Sometimes branding can be thought of as that marketing strategy with an indefinable ROI.  Actually, it is of course much more important.  These days it doesn’t take just good advertising or PR to brand your company.  For home builders that already have a distinct brand image social media is about creating trust and transparency while still protecting the brand.  Once a real estate professional or home builder begins social media they should encourage everyone in the company to contribute.  A builder’s brand shouldn’t just be about the homes and communities.  It should be about the team of people driving the business.  If the Simon Cooper of Ritz Carlton is a regular blogger and uses Twitter, that should tell us something.

Cost Effectiveness:  Just like any other marketing strategy, Internet marketing and social media should be designed to support a builder’s sales goals.  With budgets being tighter, it is crucial to design a marketing plan that contains strategies that are measurable and can produce a desired ROI.   One of the key ways that Internet marketing and social media are more cost effective is because it is targeted.  With social media marketing, an effective campaign starts first with setting goals, doing research, and defining the audience.  There are many great social media tools available to help plan and manage campaigns.  The key element for measuring results should be in the analytics.  All social media pages should link to the company website and gradually build traffic and conversions.

10 Tips for Getting Started

1. The team:  Whether your hire a social media agency or consultant or use an in-house team, you have to be committed to investing in the process.  It’s all or nothing.  If you outsource, it is still recommended to have someone in-house directing the message and strategy.  The more your buyers and potential buyers communicate with you, the more you will have to remain involved.  If you plan to build an in-house team, enlist the help of some Internet savvy interns for some extra man power. 

2. Website:  Do not spend time and energy engaging in any online strategy until you have a website that is user-friendly and designed to foster conversions (i.e. building an email list, capturing registrations, and generating sales).  Your website will always be your most important foundation from which any online marketing strategy will be built.  Make sure to have Google analytics installed in your site so you can actively monitor traffic levels, traffic sources, bounce rates, and time on site. Be sure to have a great database management system for capturing and organizing incoming leads. 

3. Blog:  Keep in mind that social media is first about providing value to your online community and building trust.  The best place to start is with a blog.  Blogs are easy to set up and show your customers that you care about what’s going on in your industry.  Word Press blogs are a great recommendation and very “Google-friendly”.  Be sure to build your blog into your website as opposed to having it as an external site.  Write about current topics that people can relate to and never make your message self serving.  If you don’t think you have time for all this, think again.  Like physical fitness, if you care about it and are committed, you will make the time.

4. Facebook, Active Rain, Twitter, YouTube:  Set up a Fan Page on Facebook.com and profiles on Twitter and ActiveRain.com.  You will build a large network in two ways: (1) networking within the online community itself and inviting people to “join” your fan club or “follow” you on Twitter; (2) driving traffic from outside sources to your profile pages, which you can accomplish this by having links to your profile pages and encouraging people to follow or join. 

You will keep them engaged by having good content (i.e. your blog articles is a great place to start).  You can set up an RSS feed so that your blogs are automatically posted to your Twitter page and Facebook page.  Set up a YouTube channel and start adding content.  Most builders have some kind of video or TV content so start adding it to your YouTube channel and Facebook fan page.  To create new video content, purchase a simple flip camera and shoot three to five minute videos at your properties.  Interview sales representatives, property managers, and even owners. 

5. Communicate & Build a Following:  Your efforts will be fruitless unless you have a loyal following which takes some time to build.  The more effort you put into it, the better your results will be.  Ask your social media partner for effective ways to build a following on Twitter without spamming the community.  Be active on your profile pages on Facebook and ActiveRain.  The more value you have to offer the more people will talk.  Management should lead by example and get involved.  Encourage all employees and sales people to be a part of the network.  Once you have some momentum you can start incorporating your special incentives, promotions, events, grand openings, and other creative messages.  When communicating special offerings, remember to include links to landing pages that give more details and have very clear calls to action like simple registration forms. 

6. Online/Offline Integration:  Include links to all of your social media profile pages and YouTube channel on your website.  Also make reference to these sites in all other marketing and advertising efforts.  If your fully engaged in social media and offer a great resource to potential buyers, why not brag about it?

7. Track Results and Conversions:  The best way to really track results is to be sure your social media platforms are always pointing back to your website and landing pages.  From there you can use your analytics to watch how much traffic is coming from these sources and how its converting. 

8. Get your sales teams involved:  Every member of your sales team should be active in their own social media efforts and the company’s.  Just be sure that there is some level of control to the overall message being communicated through your social networks. 

9. Get your communities involved:  All of a homebuilder’s communities should have their own Facebook and Twitter accounts and be actively involved in the company’s network as well. 

10. Get Creative:  After you gain momentum, the sky is the limit.  Your social network sites then become a platform for creativity and true customer relationship management.  Develop new concepts like special promotions, events, and contests.  Make it fun for people to be inlcuded in your online community.

Social media as a marketing strategy has made so many advancements in the past 12 months that it is hard to keep track.  The online marketing space has redefined how companies brand themselves, communicate with customers, and allocate marketing dollars.  Obviously the economy is pushing businesses towards more cost effective and measurable marketing. 

I have said it before, but transparency is the new norm…the old days of companies hiding behind their “big brand” are over.  Companies that are engaging in social media are committing to real customer interaction and showing who they really are as a brand and as a team.  Here are three ways that social media is changing the face of marketing and branding.

Fusion Between Marketing, Advertising, and Customer Relations

The most successful social media campaigns combine all online and offline marketing efforts and truly engage the audience.  The companies that use these strategies effectively are fully committed and spend considerable time on these initiatives.  Once a campaign gains momentum and is tied into all marketing efforts, the social platforms (i.e. Facebook Fan Page, Twitter, LinkedIn, etc.) become real communication tools.  The communication can then range from providing FREE information and valuable content (i.e. blogs) to promotions special offerings.  More importantly the platforms become customer relationship management tools.

Branding

I like to be careful about how we define “branding” as it applies to marketing and advertising.  Sometimes branding can be thought of as that marketing strategy with an indefinable ROI.  Actually, it is of course much more important.  These days it doesn’t take just good advertisng or PR to brand your company.  Many businesses now start with the social web first and think about investing in advertising and PR later.  They do this for a few reasons. First, advertising and PR cost money and budgets are tight.  Second, usually their customers are in fact online and engaged in social media so that is where they can get in front of them quickly and easily.  Third, it is targeted and can be measurable (but we’ll talk about that more in a minute.

Once a business begins social media they should engage everyone in the company to contribute.  A company’s brand shouldn’t be just a recognizable logo or fancy advertising…it should be about the team of people driving the business.  In the end, the success or failure will depend on the management and the team.  We are seeing executives come out from behind the curtain and engage the social communities.  And guess what, customers love it!  If the President of Ritz Carlton is a regular blogger and uses Twitter, that should tell us something.

Cost Effective – Targeted – Measurable

Just like any other marketing strategy, Internet marketing and social media should be designed to support a company’s business goals.  Online marketing channels like SEO and social media are not only complimentary to one another but show a true long term committment to business growth.  Strategies like this are more in line with business development than “marketing” really.  One of the main attractions of course to online marketing (whereas many used to be skeptical) is its economic value.  The days of expensive print ads and $20K per month on PR are over for most companies.  Now, every penny needs to be accounted for and advertising needs to show a direct return. 

One of the key ways that Internet marketing and social media are more cost effective is because it is targeted.  The traditional media model is design for you to spend a lot of money and hope you hit your target audience.  If you are not getting in front of your customers, either change vendors or spend more…that’s about it.  With social media marketing, an effective campaign starts first with defining the audience.  There are many great social media tools out there to help plan and manage campaigns, track results, etc.  The bottom line though with measuring results should be in the analytics.  All social media efforts should tie in with the company website and gradually build traffic and conversions.

Guy Kawasaki will be at the La Jolla Hilton on Thursday June 25th giving a presentation titled “How to Use Social Media to Market Your Business”. 

Businesses large and small are embracing the phenomenon of social media marketing strategies.  Companies are realizing that their customers are in fact on the social web!  They are realizing also that many of their competitors already have a head start.  Now is the time to get creative and communicate with customers online.  The web is a trasparent place and customers/clients want to know who you really are.  Show them!

Social media continues to draw attention and buzz in the marketing world and will continue to evolve.  As a stand alone industry it is very new and generally thought of as a “service” within the Internet marketing umbrella.  However, the foundation of social media is really about client/customer communication and conversation.  Regardless of what some social media “consultants” might say, there is still not a black and white way to measure complete ROI with social media alone.  The most important take away though is that without that active “conversation” with customers, you are not making progress with your social media strategy.

As the buzz grows, social media consultants have been coming out of the wood work…actually, due to the economy, ALL kinds of consultants have been coming out of the wood work as people transition between jobs.  There is nothing wrong with this but as the volume grows, the range between actual experience and self proclaimed expertise grows. 

There are two ways to offer social media marketing as a service:  (1) consulting; and (2) actual implementation/management.

When seeking social media marketing services, many companies need everything from the research and strategy to implementation and management.  Its usually a bandwidth issue.  The company doesn’t know enough about social media nor do they have the internal resources to actively engage their online audience and manage a full campaign.  This of course is totally normal and good Internet marketing/social media companies can provide this.  The downside is the long term scalability and accuracy of the “message” being communicate to the audience.  If communication between the service provider and the client is clear and regular (i.e. the client at least has one point of contact helping develop the strategy and message) then this type of relation can work very well.

On the other hand, many Internet marketing companies are leaning more to the consulting side rather than trying to implement and manage the entire effort.  The benefit to this is that it gives the client the internal knowledge and capability to control their own client communication (via social networks).  The consultant’s role is very robust however and involves continually educating the client, research, strategy, initial set-up and training, and ongoing management.  The consultant plays an ongoing role overseeing the team on the client side.  The long term take away though is that the client is empowered to take the reigns.  Some companies fear this of course because they don’t want the client to “learn” the best practices and fire them after a few months.  There is always that risk but if the consultant is doing their job, there will be real ongoing value as social media is a constantly changing environment.

Which approach is better is really based on the needs of the client but in the long run the client should learn as much as possible so they can play a close role in the online “conversation”.

So how do you choose a social media marketing company?  The list of ways to choose a social media cosultant is pretty much the same as when you research an Internet marketing company.  One of the main things I wanted to point out however, is that the more well-rounded a firm is the better.  There is always value in a company that focuses on one thing and does it well.  However, these days the lines between different online marketing strategies are very grey and most compliment one anther extremely well.  For example, social media and organic search engine optimization (SEO) are huge compliments.  I would always recommend ensuring the two strategues are tied together.

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Just over a year ago I can remember people talking about what Social media was and how do they could dial into it. Now 5 months into 2009, everyone and their brother is on Twitter “tweeting” about what they are up to, on Facebook setting up a business listings or chatting with friends, or on LinkedIn finding colleagues or updating there personnel work profile. Social Media is becoming part of everything that is online.

Over the past few months small businesses have suddenly made a big splash on to the Social Media stage.  They are taking their swings with the bigger brands in creating an online social presence. Small businesses are seeing the benefits in reaching out to their customers and audience through social channels such as: LinkedIn, Myspace, and Facebook. According to a Sage Research study of Small Businesses on Social Networks, professional Social network sites such as LinkedIn accounted for over 50 percent of all activity for small businesses, followed by general social marketing sites including: myspace and facebook.  These social arenas have become the top mediums of choice for small businesses. One fact to keep in mind is there are over 25 million small businesses and only 250,000 are using Social platforms (according to the study), which makes up a small percentage of total businesses. With that said, less than a year ago those 250,000 small businesses had little to no social presence. So, even though the mass has not moved to Social platform, at least a small herd is moving in the right direction. Hopefully, the rest will follow.

The below statistics show the breakdown of Social Mediums used by Small Businesses

As we all know Twitter has grown immensely in the past few months due to major media hype and droves of celebrities jumping on the social media band waggon.  According to Nielson, Twitter will face an “uphill battle” due to the void between explosive growth and retention.  Twitter’s retention rates are around 40% month after month of people who actually return.  We are seeing people set up profiles and play around for a few days or weeks then never return.  So how will Twitter combat this and give user’s more reason to keep coming back?

Studies show that sites like MySpace and Facebook even had better retention rates in their early days…even during explosive growth periods.  Often you will see fast growth lead to lower retention but these two sites experienced the opposite:  fast growth lead to even higher retention.  See the chart below:

Notice the consistency of MySpace and Facebook over Twitter.  Of course, there could be many reason for this.  Obviously, Twitter has fewer “bells and whistles” than the comprehensive social networking platforms like Facebook.  Over time they will need to give users more functionalities (which I am sure they are working on) to keep them on the site longer and coming back every day.  Of course, Twitter has made quite a name for itslef as a powerful social media marketing tool, but for it to continue to hold that title it will have to retain users.  Like anything else, establishing user loyalty will be the key to their long-term success.

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We have talked before about how social media strategies can be a great compliment to any SEO strategy.  Social media can be a great way to build quality inbound links and develop solid off-page content.  Naturally, all the basic SEO rules apply:  content, keywords, user value, and quality inbound links. 

So what about your social media profile pages?

If you haven’t already noticed, social media profile pages are starting to rank regulary for search terms.  For example, if a person has a Facebook.com and Twitter.com profile and then Google their own name, these profile pages will usually come up first,  or at least very near the top.  The reason of course is because these websites themselves are already highly regarded by Google.  They have millions of pages, great user-generated content, etc.

So when looking for a great compliment to your SEO strategy for your website, consider optimizing your social media profile pages as well.  Great SEO pratice according to Google’s latest algorithms suggest that it is best to optimize all possible online assets including websites, videos, social media profile pages, press releases, pod casts, images, etc.  When considering optimization for your social media profile pages don’t forget the following:

• If you don’t have a Twitter and Facebook page (any other networks of course) for your brand, create one
• Flood your BIO and pages with keywords, but do it in a reader-friendly natural way
• Use keywords in your profile name if possible
• Add other great content such as videos
• Build good inbound links

Remeber also that when building a following for your profile pages such as Twitter and Facebook, one of the best ways is to actually drive external traffic to these pages (as opposed to just networking within the social community).  Make sure to have links to your social media pages from your main website, email signatures, newsletters, print media, etc.   Some companies have considered using social media profiles as their main websites do to their searchability, cost effectiveness (FREE), and great functionalities. 

The best Facebook and Twitter strategies use the profile pages as key communication platforms where they announce all value propositions, special offerings, incentives, coupons, etc.  Imagine of these pages are also apearing in the SERPs for relevant keywords how impactful that would be!

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Receiving information via television is so 2000 Late! If you want to view your favorite TV shows, movies, trailers, etc, you can do it by going to Hulu.com, download them from your iTunes account, PS3 video store, Amazon video, YouTube, and now you can even view videos through Twitter. Social Media is becoming more than anyone ever imagined!

There is a new site called twitmatic that allows you to search for any search term you want. It then performs a search from all tweets posted with a video link and presents them to you in a nice legible format. If you type in Star Wars for example, you are presented with trailers, spoofs, Star Trek vs Star Wars video, and much more. This is why Social Media for businesses are becoming so vital.

Business who have not embraced Social Media yet, need to know that everyone else is embracing it. If your business has a video online, it is important that it is a compelling video you want to showcase to the world. If you want it to be found via YouTube, ot in this case via twitmatic from posted tweets – it needs to be compelling.

Social Media is here to stay. It has been embraced by radio stations, newscasters, celebrities, and pretty soon everyone else around you.

The real estate market has seen some dramatic shifts recently and two things have happened.  The market crashed and real estate professionals and companies are taking their businesses online!  The online process began before the bubble burst, but the stormy housing market further proved the need for more targeted and cost effective real estate marketing.

To succeed in today’s real estate industry, you have to be actively engaging the online community.  The days of thinking that your buyers or renters are not online or that your “demographic” doesn’t use the web to find a home are OVER.  Here are some important facts from the 2008 NAR Profile of Homebuyers and Sellers:

87% of homebuyers used the Internet as an information source

77% of Internet homebuyers drove by or viewed a home they saw online

32% of buyers first found their home on the Internet

25% of FSBOs used the Internet to help sell their home

So how do real estate companies large and small answer this direct need to be egaging potential buyers and renters online?  The answer is through comprehensive integrated Internet marketing strategies.  This may sounds more complicated than it really is.  It all starts with the website which is the foundation of any sound online marketing plan.  You must have an interesting and informative user experience by offering loads of unique content, rich media like video and virtual tours, blogs, forums, etc.  Real estate, like most other businesses, have the need to embrace the Web 2.0 world of customer interaction. 

Once the website is in order and you have a great interactive platform, you need to make sure people can find you.  Yes, your buyers and renters are online looking for you (as stated in the facts above)!  Of course, organic search engine optimization (SEO) is the best long term investment you can make in your real estate company.  Homebuilders and apartment development/management companies across the country are making this investment and saving tons of money in other marketing mediums.  Let’s face it…print isn’t going to get the job done anymore.  Sure, its important for branding and can be effctive for promoting grand openings but its not interactive, nor is it cost effective or measurable. 

People want the facts and they want them fast.  Buyers and renters are online because its convenient anf there is a wealth of transparent information out there.  Consumers can do weeks of research and make informed decisions before ever picking up the phone to call a property or speak to an agent (though the important role of an agent or leasing representative will never be obsolete!).  Having first page organic rankings for your relevant keywords will drive higher volumes of quality traffic to your real estaet site than most other outlets.  Real estate is very competitive online so it must be viewed as a long term investment.  Once you have the rankings, then investment will pay off tenfold.

In the short term, pay per click advertising (PPC) (when managed properly) is a great way to drive targeted traffic to your pages.  Google Adwords has developed over the past year and their algorithms are now more sophisticated.  You must approach paid search campaigns in similar ways you do with basic SEO – you must have a thoughtful keyword strategy with good title and descriptions, and use solid landing pages with unique conent.  Google now uses what they call “Quality Score” to ensure that campaigns are well managed and providing value to the user.  The Quality Score process ranks your campaigns from 0 to 10 (10 being the best) and makes judgements based on title, descriptions, and landing page quality.  Google will also now take into account the overall value your website has to offer.  This is were many real estate sites can hit a road block. So many sites out there now just aggregate MSL listings and property listings from all over the web without providing unique content and information.  Without offering the user unique content found nowhere else on the web, Google may not give a good Quality Score when running PPC campaigns.  So now its not just about outbidding competitors for terms, its about value. 

The fastest growing marketing phenomenon is social media.  All types of companies in all kinds of industries are embracing the ability to interact with their customers in an open transparent forum.  Social media is actually very simple (though it can take a lot of time and energy to run a successful campaign).  Its about finding your target audience in social networks, blogs, forums, etc. and listening to what they have to say.  Once you have a loyal following and are offering value to the community (Free information, advice, knowledge, etc.) you can start communicating your more “commercial” messages.  From a real estate perspective this is very important.  Buyers and renters are seeking value and real information now more than ever.  Additionally, once you have a robust online presence in the social media world, you can simply use it as a communication platform – announce grand openings, share videos, pictures, special incentives, etc.  Always remember though, you should lean more heavily to the “value” offering to maintain a trusting and loyal following.

One very simple and effective compliment to both SEO and social media, is regular blogging.  Blogging used to be quite foreign to real estate professionals and now it is very mainstream.  You just have to find the time to do it!  To use blogging effective for real estate, it should be approached in two ways.  (1) Have a blog on your own website and write on it regularly.  Send out links to your articles through your social media platforms like Facebook and Twitter.  (2) Get out there and write blogs on other sites.  Once you become a regular on some sites you can start providing links back to your site.  This is a great way to get traffic and very powerful for your inbound link building campaign (the most crucial element to orgainc SEO).

Regardless of the economy, people still need homes and they are looking for them online.  Make sure you are where they are looking!

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