1. Everything is cheap: The economy has changed everything. Products and services are cheaper than ever. You can keep your start-up costs low by taking advantage of the great deals out there for any type of assets.

2. Vast talent pool: Due to massive layoffs there is a sea of extremely talented people out there for the taking (hiring). You can find great people who are willing to take on new opportunities for less than they were making before. But remember, respect their experience and be fair. Never under estimate their availability either…the economy is generating my start-ups and new entrepreneurs than ever before. Find your next rock star team before they go start their own businesses.

3. Many start-up Incubators: Many of the successful entrepreneurs that have already found an exit strategy are finding ways to help new businesses. Today’s incubators are a bit different than VC’s or angel groups. They are typically more involved in building the company and educating the young minds in the ups and downs of running a start-up. They also usually only focus on a specific number of start-ups each year and look for very early stage opportunities.

4. Friends & family: Since most people have turned away from the stock market and are being more careful about real estate investing, many of your friends and family might consider investing in you. If you are not comfortable taking on their investment as an equity stake (generally risky) then consider asking for a loan with specific but simple terms (i.e. offer their cash back with a 20% return in one year).

5. Open minds: Companies are looking for new supplies, new vendors, and new partners. Everything has been turned upside down and the result has fostered some open mindedness. Everyone is price comparing, so if you have a good product or service, beat the competition on price and get out there.

6. Open source technology: With the amazing array of great open source technology available today, new entrepreneurs can take advantage incredible software products that used to cost thousands.

I do not understand why old school CEO’s are still wasting thousands of dollars on print advertising. Did you know some businesses spend between $30,000 and $100,000 just for one print ad page in the Wall Street Journal to run one week? This is insane. You can’t even track the success results or conversion factors from print advertising. CEO’s still do this because they like to see their company name in big papers and they think their target demographic actually reads newspapers. When was the last time you saw someone aged 21-35 actually reading a newspaper? I think it has been months. Everyone I know gets their information, advertising, and news online and in real time. If you want to grow your business, you need to advertise where your clients live online.

To start an internet marketing campaign, every business that is business to consumer based should start with organic search engine optimization. This is the core of any internet marketing campaign. CEO’s and marketing professionals then need to research where their target demographic lives online. What sites do they go to? What times of the day and week are they online? Where do they live? All this stuff is crucial for deciding which sites to advertise on and how to market your company.

There are also some great tools you can use to see if your site is properly optimized for SEO and follows all the search engine guidelines.  The SEO Ranker Tool by IMI is a great one http://internetmarketinginc.com/seo-report or companies like Hubspot have some great software as well.

I encourage all CEO’s to try to run an ROI report on their current print spend.  Take half your print budget and use it online and run the same ROI report.  I am convinced you will never run print again when you complete this task.

-Brandon

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.

Does your website perform they way it is supposed to?  Do your visitors see the content you want them to and take action?  Web design and conversion optimization is all about maximizing your website’s potential to convert traffic into some kind of attainable and measurable goal.  Whether the goal is to collect emails, registrations, downloads, or purchases all the same rules apply.

Make your message clear

Make it simple

Make it easy

Here are a few suggestions to enure your visitors take action and become customers! 

Use simple but compelling language to communicate your message and its value.  Then compliment that message with a large and noticeable “call to action” so the user understands what the next step is.  The image below shows a good example of this:

The use of space, color, and page layout are very important.  Below is a great example of a good blend of color and space.  The more space you have around the call to action “buttons” the better.  Studies show that the more cluttered a page is the more likely the user is to get confused and not understand what you want them to do.

Notice how clean the page is and that a couple options are given.  The use of space is done purposefully to provide clarity and simplicity.

Other suggestions to improve conversions on websites and landing pages include:

• Trust factors – let the user know it is safe to enter their information or download your product
• Simple bullet pointed content – don’t make the user read to long paragraphs, keep them moving
• Compelling design and images – the pages of course should look clean and compelling to keep bounce rates low
• Large buttons – size does matter
• 3 to 5 step process – using a simple “step” process helps clarify what the user needs to do to complete your “sales cycle”

The Internet is an ever-changing environment and with the Web 2.0 revolution and more people surging to social networking, we’re seeing new trends in online marketing emerge each year.  Consumers want to have a voice in the brands they like and transparency has become the new “normal” if businesses want to remain competitive.  Here are ten trends we will continue to see during 2009:

ONE – Internet Marketing Surge:  As we have already seen, more companies are transitioning away from traditional media and moving to the more targeted, measurable, and cost effective online strategies.  These of course include investing in SEO, social media, PPC, and more email marketing.   

TWO – Discount Offers:  Due to the current economic conditions (the recession), the marketing message for most companies has changed.  More companies are offering discounts, special incentives, and promotions than ever before.  We started seeing this in the housing industry and then it spread throughout most others.  Even brands that have been against discounts due to “brand image” are bending in favor of staying competitive.

THREE – Out with the Old:  For most companies, its time for a new website.  Even large companies that have been around for decades are waking up and realizing that their online brand image does matter and that “YES” they can gain new business opportunties from the web if they make the effort.  More companies are investing in website redesign, building micro sites and using landing pages to support marketing efforts.

FOUR – Customer Interaction:  As mentioned above, the consumer now expects to have a voice and be able to provide feedback.  User-generate content platforms are growing immensely and the way people research goods and services has changed.  They want to here what others have to say.  Brands need to embrace this reality and get involved in these online “discussions”.

FIVE - Blogging:  The percentages of people reading blogs online will (and has) sky rocket this year.  The web is a wealth of information and people enjoy sharing knowledge online.  Companies have now embraced blogging as a part of the new transparent online world.  CEO’s and executives are getting involved in blogging and all kinds of social media.  Blogging is a great support element to marketing efforts, providing value to your audience, building trust, and adding great content to your website (think SEO).

SIX – Video Marketing:  Video content is now considered highly valuable and can improve website traffic and time on site immensely.  Companies that not only include videos on their website but also use YouTube and social media platforms to host these videos increase their online visibility. 

SEVEN – Social Media Marketing:  Social media ties into everything we have been talking about.  Social media marketing is another great way for companies to engage their audiences, provide valuable information, communicate, and create a viral buzz about their brand.

EIGHT – Mobile Marketing:  It seems that everyone is carying an iPhone these days and over 40 million people access email via their phone according to Nielsen.  Mobile marketing is in its infancy and it remains to be seen how consumers will react but it will certainly gain momentum in 2009.

NINE – Retargeting and Behavioral Targeting:  We will see display advertising technology improving and being based more on user’s online behavior.  Display ads can now be served dynamically based on what websites people visit and even what content they have on their social network profiles.

TEN – Integration of Offline and Online Marketing:  Companies are now realizing the importance of incorporating their online marketing with offline marketing.  The messaging must be consistent and all the same conversion rules apply.  For example a print ad with a special offer should direct someone to an optimized landing page rather then just a phone number or home page URL.

It is always surprising to see major brands and companies that have been around for decades that still have website built in the 90’s.  It is fairly common and many times this is simply not a priority especially if the company “doesn’t gain new business prospects via the web”.  The response to this kind of comment of course is “Of course you don’t if your website is old and invisible to Google”.

More large companies (across all industries) are starting to realize the importance of improving their online marketing capabilities.  For most, it is a matter of simply focusing on it, making the commitment, and having an internal team to head up the effort.  Even if the Internet marketing and website development initiatives are going to be outsourced, mostly companies will still need and internal marketing team leading the charge.

Some company owners and executives wonder if now is a good time to invest in improving their online exposure.  The answer of course is that it has never been a more crucial time.  During good economic times, consumers and potential customers do not scrutinize these types of things as much nor do they price compare a shop around as much as they do now.  You have one shot when someone visits your website.  This is important especially if your website is your key resource for providing information about your company and services.

So once you have decided that it is time to make the commitment, what is the next step?  Here are some tips for getting started:

• Define your business and marketing strategy: Your business goals should drive your marketing strategy.  Look at what you are currently doing (or not doing) and set some benchmarks.  Research your competitors that are doing it better.  If your major competitors have a better website (that has been redesigned in the last 12 months), great rankings in the search engines, and an exciting social media campaign, then you have some work to do!  But don’t worry…the fact that they are doing it proves that you should be too.
• Website redesign/redevelopment: Before launching the marketing strategy, you need to prepare your online platform for traffic and converting traffic into new business.  Think of this as having a house warming party.  You wouldn’t send out 100 invitations and make big plans to show off your home unless you have done spome “house cleaning” first.  Your website needs to be compelling, user-friendly, offer great value to your visitor, and have good calls to action so the user know what you want them to do.
• Internet marketing strategy: Start with the basics.  A good search engine optimization (SEO) campaign is the right long term investment to make.  There is no point investing in a new website if noone is going to ever see it (or at least not many people).  Remember my comment above about companies saying that they do not gain new clients or business from the Internet?  Well this is meant to change that.  Great rankings relevant to your industry, business, and services, will eventually build traffic and foster new customers – if the website is set up to convert.  Pay per click (PPC) advertising can be a great way to get quick results in the search engines, target specific areas and consumers, and get faster results than you will with SEO.  PPC is advertising where as SEO is more like a true investment in the future of your business.  Other strategies include social media marketing, email marketing, display ads, retargeting, etc.

The best way to get the process started is to talk to people you trust who are currently doing it.  The most important thing to realize is that consumers in all industries are researching online and could find you if you take the time to “be found”.  The web is a trasparent place and people want to know who you really are.  The days of hiding behind a website that has limited information are over (if you want to survive).   Consider starting a blog and get the executives involved.  If the CEO of Ritz Cartlon can make time for blogging and Twitter, so can you!

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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Like most industries, the Internet marketing world is fraught with companies and individuals seeking to make a quick buck by ripping people off.  One of the most common is SEO fraud.  There are unfortunately many firms or “consultants” out there preying on the unsuspecting small business owners and selling them SEO “guarantees”. 

Frankly, there are a lot of larger SEO companies doing similar things by charging outrageous prices while spending about 2 hours a week on your project and telling you to “stay the course” and that it takes time.  They use iron clad contracts and by the time you are frustrated by the lack of results and fire them (if you can get out of your contract), they have collected thousands from you.  These days of course that is harder to get away with because do to the economy, companies will price compare more often.

So how do you find the right SEO company? How do you compare the good ones from the not so good ones, and choose a company where you feel confident that the money you invest is in good hands and will generate good returns?  Here are a few tips:

• Do as much research on basic SEO as you can on your own so you know what questions to ask
• Choose a few firms and learn as much as you can about them
• Be careful about the pitch where they show you all the “rankings” they have gotten for their clients – you never know what was involved, what kind of rankings the client had before, or if they are even still a client, etc.
• Look at the firm’s own rankings and see if they practice what they preach
• Look at their website:  if they are selling you SEO but don’t even have title tags, descriptions, etc…RUN!
• Ask them details about their SEO practice, strategy, process, link building efforts, etc.
• Know who their SEO engineers and project managers are:  chances are your campaign and keyword strategy will only be as good as that individual’s knowledge
• Check certifications/qualifications
• Read their blog, if they even have one
• Ask if they attend the SEO trade shows, seminars, etc. to make sure they are continually learning too:  SEO these days is all about staying current
• NEVER work with a firm offering ranking “guarantees” because you might be treading closely to black hat SEO and potential penalties

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Search engine optimization (SEO) strategies are constantly changing as we chase the SE’s latest algorithms and try to keep up with what Google wants from us.  As search engine marketers, we have to always be on top of the best practices and guidelines in order to properly serve our clients and ensure that the strategies used are sound. 

The greatest part about SEO these days is that its less about repetitive activity (though that is still a big part of it) and more like business development (in my opinion).  SEO has become more and more natural and it all starts with adding real value to the web by creating a site with good content.  These days good content can and should come in the form of all kinds of media:  blogs, articles, video, podcasts, etc.  The SE’s are giving rankings to sites that really have that “wow” factor when it comes to valuable unique content. 

All of the basic rules still apply and things like having good site structure/site maps, unique content, and solid link building strategies are the foundation of any good SEO effort.  The on-page portion is of course all about continually adding fresh content for your users (content that is relevant and hopefull educational).  The off-page portion has become the mosty important ongoing effort in the form of link building.

Link popularity is about building solid inbound links from relevant websites.  The more quality links you have the more “votes” of assurance Google will notice and the rankings will follow.  The days of link trading and link farms are over as we all know.  Follow those practices or any unnatural method for building links and you could find yourself sitting on the search engine sidelines for a long time. 

Below are some initial steps to beginning your link building effort:

• Build a healthy content rich website that adds value to your online community
• Submit your site to all the top directories
• Purchase key “paid” links
• Always SEO optimize your press releases before sending

The rest of your link building effort is where it gets tricking and time consuming.  As stated above, the best link building strategies are natural and well planned.  Use some of the steps below to get started once you have completed the steps above:

• Run Google searches using your targeted keywords
• Find sites that are relevant and similar but not competing
• Call or email the webmaster and formall request that they link to your site
• Offer reasons and benefits (consider offering to link to them as well but don’t over do the “link trading”)
• If you have other websites with related material or partner companies, make sure they are linking to your website
• Use anchor text when setting up the links and try to have the link coming from the home page or other powerful pages on their website
• Set up a blog and contribute to other people’s blogs – once you are a trusted source you can start throwing some links in as long as they are relevant and the page on your site you are linking to offers additonal value to the reader

The key to these efforts is that you simply have to commit the time to do it.  Google will usually only recognize a fraction of the links you build so make sure you are going after quality, not quantity.

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