In the last two months of this year, I’m featuring business planning.
How have your agents integrated social media into their business plans? Where does it go? In the marketing part of their plans. That’s pretty easy. But, what should social media to do for agents? Sell houses? Get calls to them? Increase their (and your) image? Before we can answer that, we have to define types of marketing and how to measure its success.
Does Social Media Work?
One of the biggest questions agents ask is, “Does social media work?” Well, that depends on what you expect it to do for you. To make any of marketing effective, the marketer must first decide what the objectives are for that marketing. Then, marketers can set up appropriate measurement tools.
The Two Types and Objectives of Marketing
Merchandise: That means advertising a product or a service to get the phone to ring, or to get a specific, immediate response. An example of merchandise advertising would be placing a home ad in the newspaper or placing a home ad on Facebook.
Institutional: That means advertising that increases your image, cements your uniqueness in the mind of the consumer, and/or establishes you as the agent of choice. These are not placements that make the phone ring, or get an immediate response. Instead, this kind of marketing is more subtle. It is also more difficult to measure, but, it can be measured. How? By establishing a baseline of consumer perceptions about the product or service, and then measuring the consumer perception after the campaign. (Best to hire a professional marketing service to do this, because it requires expertise).
What do Agents Expect from Social Media Efforts?
If agents are placing homes on Facebook, they probably expect to get inquiries on those homes. Are they getting them? Do they have a method to measure results? Or, if they’re not expecting an immediate response, why are they putting the home there? To show Facebook friends they are successful? The marketer must decide.
If agents (or you) are blogging, what to you expect to get from blogging? If you are establishing yourself as a neighborhood expert or expert in certain types of homes, you should be able to see more acceptance and trust from the consumer after you consistently and frequently add to your blog.
Don’t Give Up!
Frequency and consistency are the by-words of marketers. Yet, advertising executives always complain that their clients expect results too quickly and change their campaigns way too soon. Just think. How many times did you have to hear that pop tune until you started recognizing it? How long until you could hum it? Probably anywhere from 8-20 times!
In my business planning system for real estate agents, (with a section for managers), I show agents how to create a marketing plan. Put your social media into that plan, be clear about your objectives, and set up consistent and frequent efforts to your best target markets. Now, you are using social media as part of your overall marketing strategy.
Check out my free business planning information for you in the recorded webinar, available at Carla-Cross.com/free webinars and more. You will get my exclusive strategic planning system flow chart, plus a 10-question planner to help you in creating a great business plan.
