ARE YOU OVERFRIENDED?And other ideas about Social Media

Sales Meeting

March 2, 2011

VIDEO

• http://activerain.com/blogsview/2058584/a-very-special-2011-social-media-action-plan-for-real-estate-agents

WHAT IS SOCIAL MEDIA

• Internet based tool for people to actively connect and share content with each other which is either self generated or professional created. –Wikipedia

• Word of Mouse Marketing

DUNBARS NUMBER &MACKAY 66

• Dunbar’s Number:– Cognitive Limit: number of individuals with whom one person can

maintain stable relationships– Estimated at about 150 people– Average Facebook user has 130 friends

• Mackay 66: List of 66 Questions salespeople should be required to ask or know of their clients– Theory behind the list: Salespeople who know the most about

their clients will have a natural advantage over business competitors

– Social Media sites are a goldmine for acquiring personal information and learning about your prospects.

How many answers do you know about your social media friends?

LESS IS DEFINITELY MORE

• The Numbers Game: Having five fans that bring you consistent business is better than having a million that don’t.– The key is to focus not on how

many friends you have online but on how well you know each of them.

• Look for ones who would open the doors of opportunity or would recommend you to their peers

• Focusing networking time and effort on fewer people, will help you to forge stronger relationships that lead to greater career and personal success

MAKE STRONGER BONDS

• Identify people with whom you want to network and then abate the noise from everyone else.

• Connecting to 5,000 other real estate pros may lead to some relocation referrals, but most real estate is local.

• Focus on finding and networking with local professionals, business owners, community activists, and like-minded individuals.

• Similarities: Shared opportunities or interests– Religious Belief, Political Cause, Love of Dogs, Parents

of children who go to the same school

• Vulnerabilities: – Citing religious, political, and other personal

viewpoints exposes us to those who disagree, but the willingness to express those ideas also forms bonds with like-minded individuals.

• Proximity: Goal of online networking should be to meet in person– Meetup.com, Tweetup (twitter.com) “Omaha

tweetup”

MAKE STRONGER BONDS

MAKE STRONGER BONDS

• For example, if you share pictures on Facebook of your deep sea fishing vacation to Mexico, some of your friends will relate it to their own fishing trips and appreciate that you shared.

• Other people might wonder why you’re having fun in Mexico while their house hasn’t sold yet. The difference in how people react to information depends on how well they know and trust you.

• The bottom line is that sharing could be risky because of your potential to alienate. But it also can lead to stronger relationships.

EXAMPLE:Let’s say your local newspaper has established a Facebook forumfor people who are passionate about the restoration of yourcommunity’s parks.If you share that passion, why not join the discussion, talk aboutyour involvement in parks’ restoration, and provide the group’smembers with useful data about parks’ impact on real estate sales?If a particular community doesn’t exist, you may have theopportunity to create one.To create a group on Facebook, just search for "Group" and click onGroups App. Then click on Create Group. The process is simple.Once you’re done, invite like-minded friends—and startnetworking.

CREATING GROUPS: The New Networking

REALTOR OBJECTIONS TO SOCIAL MEDIA MARKEING

• I don’t have the time!

• I don’t know where to begin.

• I don’t know what to talk about.

• I don’t want to deal with the noise.

• I’m concerned about my privacy.

• I’m intimidated by the technology.

• There’s too much competition.

• There's not enough ROI.

TOP SOCIAL MEDIA TOOLS FOR REALTORS

WHICH ONE DO I NEED TO USE?

• Twitter might serve you better for broad marketing messages to thousands of followers

• LinkedIn or another professional network becomes the platform for communicating with your peers.

• Private microcommunities like Ning or Facebook Groups are ideal for networking with people of common, narrow interests. – Different combinations of these groups will work for

different people; you have to find the mix that’s right for you.

KICK OFF YOUR CAMPAIGN• Get a notebook and jot down ideas for your

profile, then transfer to a computer

• Set up your accounts on Social Networking Site

• Set up your blog- Active Rain, Wordpress, Blogger

• Set up HootSuite: – Allows you to manage all social media in one place:

Basic (Free), Pro ($5.99/month)

• Put your profiles on your signature line in your email

• Remember: Don’t be afraid to be choosy!

15 Minutes A Day

• 5 Mins: – Adding/Suggesting to at least

2 Friends

– Commenting back if needed

• 10 Mins: Posting Content– Pictures of New Listing

– Your take on an interesting development in real estate

– Interesting, Important, and Targeted

– Tips

– Video• Consider having a trend:

Tuesday’s Tip, Video Fridays

Marketing is typically designed for a large, shallow pool of relationships, but

the goal of networking should be to create a small, deep pool.

COMMENTS/QUESTIONS

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